Labrador GOLD Intersects 6.22 G/T GOLD over 4 Metres IN First Hole at Golden Glove Including 10.31 G/T GOLD over 2 Metres
NEWS RELEASE
June 6, 2022
LABRADOR GOLD INTERSECTS 6.22 G/T GOLD OVER 4 METRES IN FIRST HOLE AT GOLDEN GLOVE
INCLUDING 10.31 G/T GOLD OVER 2 METRES
TORONTO, ON, June 6, 2022 – Labrador Gold Corp. ( TSX.V:LAB | OTC QX:NKOSF | FNR: 2N6 ) (“LabGold” or the
“Company”) is pleased to announce results from seven drill holes, including the first hole drilled at the Golden
Glove Target in the south end of its 100% owned Kingsway project near Gander, Newfoundland. These holes were
drilled as part of the Company’s ongoing 100,000 metre drill program at Kingsway.
Hole K-22-150 intersected 6.22 g/t Au over 4 metres that included 10.31 g/t Au over 2m at a vertical depth of 246
metres. This intersection is located approximately 160 m south of the Golden Glove discovery outcrop where six
grab samples, three of which contained visible gold, assayed between 2.99 g/t and 338.1 g/t Au (see news release
dated September 21, 2021) . This intersection at Golden Glove is the f ourth of four targets drilled by LabGold to
return significant gold intercepts.
While there are many similarities between the mineralization observed at Golden Glove and that at Big Vein, a
significant difference is that while Big Vein occurs on the west side of the Appleton Fault Zone, Golden Glove is
situated on the East Side. This is the first drilling on the east side of the fault at the Kingsway Property.
Six holes drilled at the Pristine target intersected near surface gold mineralization over significant widths in the
Doyle Zone, including 1.86 g/t Au over 8m in hole K-22-144 and 1.75 g/t over 20.2m that included 2.76 g/t Au over
6.2m in Hole K-22-139.
“We are very pleased with the results from the first hole drilled at Golden Glove especially considering that the
intersection is approximately 160m south of the discovery outcrop. This indicates excellent potential for the area
between this hole and the outcrop and we are certainly looking forward to the results from the remaining five
holes drilled there to date,” said Roger Moss, President and CEO of LabGold . “The continued near surface gold
intercepts extending the strike length of the Doyle Zone are nice to see especially those with wider intersections.
We are encouraged by the successful drilling of our four initial targets, all of which have delivered significant gold
mineralization. We will continue to test the new targets developed along the Appleton Fault Zone through the
summer, starting with the CSAMT target approximately eight kilometres northeast of Big Vein.”
Hole ID From (m) To (m) Interval (m) Au (g/t) Zone
K-22-152 66 70.24 4.24 1.78
Doyle 87 90 3 2.24
93 96 3 1.17
K-22-150 348 352 4 6.22 Golden Glove including 348 350 2 10.31
K-22-149 13 14 1 1.27 Doyle
K-22-146 57 57.95 0.95 1.12 Doyle
K-22-144 64 72 8 1.86 Doyle including 69 71 2 3.32
K-22-143 92.2 93 0.8 1.42 Doyle
K-22-139 57.2 77.4 20.2 1.75
Doyle including 62.2 68.4 6.2 2.76
89.4 92.4 3 1.59
Table 1. Summary of Assay Results. All intersections are downhole length
as there is insufficient Information to calculate true width.
Hole
number Easting Northing Elevation Azimuth Dip Depth
K-22-152 661804 5436020 54 300 50 221
K-22-150 660539 5431776 48 265 45 452.57
K-22-149 661804 5436021 62 260 45 227
K-22-146 661803 5436032 64 260 62 176
K-22-144 661808 5436070 65 280 45 200.27
K-22-143 661801 5436034 54 260 45 299.06
K-22-139 661802 5436033 54 300 45 215
Table 2. Drill hole collar details
Figure 1. Doyle Zone plan map.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core
are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay.
Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard
30g fire assay with atomic absorption finish as well as by ICP -OES for an additional 34 elements. S amples
containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater
than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the
total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian
regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information
that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior
Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of
prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander
area of Newfoundland. The three licenses comprising the Kingsway project cover appro ximately 1 2km of the
Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold
immediately to the south of Kingsway . Infrastructure in the area is excellent located just 18km from the town of
Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected
50,000 metres targeting high- grade epizonal gold mineralization along the Appleton Fault Zone following
encouraging early results . The Company has approximately $ 28 million in working capital and is well funded to
carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is
typical of greenstone belts around the world but ha s been underexplored by comparison. W ork to date by
Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern
portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab
samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over
approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018
for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone
Belt.
The Company has 159,199,026 common shares issued and outstanding and trades on the TSX Venture Exchange
under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
@LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from the statements made. When
used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”,
“believe”, “estimate”, “expect” and similar expressions are intended to identify forward -looking
statements. Such statements reflect our current views with respect to future events and are subject to risks
and uncertainties. Many factors could cause our actual results to differ materially from the statements
made, including those factors discussed in filings made by us with the Canadian securities regulatory
authorities. Should one or more of these risks and uncertainties, such as actual results of current
exploration programs, the general risks associated with the mining industry, the price of gold and other
metals, currency and interest rate fluctuations, increased competition and general economic and m arket
factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual
results may vary materially from those described herein as intended, planned, anticipated, or expected.
We do not intend and do not assume any obligation to update these forward-looking statements, except as
required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.