Labrador GOLD Welcomes Recent Announcement BY the Ontario Government Concerning Accelerated Development of the Ring of Fire ROAD

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NEWS RELEASE March 26, 2026

LABRADOR GOLD WELCOMES RECENT ANNOUNCEMENT BY THE ONTARIO GOVERNMENT CONCERNING

ACCELERATED DEVELOPMENT OF THE RING OF FIRE ROAD

TORONTO, ON – March 26, 2026 – Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“ LabGold” or the

“Company”) welcomes the recent announcement by the Ontario government that it now plans to complete

construction of an all-season road to the Ring of Fire five years ahead of schedule. The Ring of Fire road will

cross the recently staked Watson Property in the Fort Hope Greenstone Belt of northwestern Ontario.

The Ontario government recently announced an accelerated timeline for the construction of the Ring of Fire

road, with early works construction planned to begin in June 2026. A link to the accelerated schedule can be

found here: Unlocking the Ring of Fire

The Northern Road Link will bisect the northern portion of the Watson Project, while the Marten Falls

Community Access Road will run along the south side of the northeastern claim block (see Figure 1).

Figure 1. Map of the Watson Project showing the location of the Ring of Fire Road, gold occurrences, major

shear zones and banded iron formation.

(Sources: Storm Exploration news release dated March 21, 2025; Ontario Mineral Inventory (OMI) Database).

LabGold CEO Roger Moss, states “Ontario’s recent announcement to fast‑track road access to the Ring of Fire

is a clear signal of the province ’s commitment to northern mineral development. As this infrastructure

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advances, the Watson Project is positioned to benefit meaningfully. Ontario is ranked 2 nd globally for

investment attractiveness in the Fraser Institute’s Annual Survey of Mining Companies (2025) published i n

February 2026.”

Elementary Minerals, a private company jointly owned by LabGold (80%) and Nemo Resources Inc. (20%),

holds 127,000 ha of map staked mining claims, making it the largest land holding in the Fort Hope Greenstone

Belt. The Property is 100% owned by Elementary and has no underlying royalties or option payments.

The Watson property covers the interpreted trace of three major belt parallel structures including 73km of

the Norton Lake Shear Zone, 35km of the Gourlie Creek Shear Zone, and 15km of the Washi Lake Shear Zone,

all three of which have been virtually untested for gold . LabGold believes Watson possesses significant

potential for gold mineralization associated with the numerous folded and/or faulted banded iron formation

(BIF) units adjacent to these major shear zones (See Figure 1).

LabGold VP Exploration, Ryan Weston states “Significant BIF‑hosted gold mineralization, such as that seen at

Canadian Goldfields’ Miminiska project, is well documented in the western Fort Hope Greenstone Belt. We

believe the eastern half of the belt is equally well endowed yet has seen only limited exploration. This

underexplored setting provides a rare opportunity to gain early exposure to a compelling grassroots gold play

in a world‑class jurisdiction.”

As part of its commitment to responsible exploration, Elementary has initiated outreach to local First Nations

with the goal of securing social license ahead of its inaugural exploration program on the property . The

planned program consists of a 4,582 line -km airborne electromagnetic survey which will provide excellent

resolution of bedrock conductors and associated magnetic anomalies potentially associated with BIF-hosted

gold mineralization. Compelling geophysical and geological targets will be followed up this summer with soil

surveying and prospecting for further target discrimination ahead of an initial drill program which could be

as early as winter 2027.

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.

About Labrador Gold

LabGold is a Canadian -based mineral exploration company focused on the acquisition and exploration of

prospective gold projects in Eastern Canada.

The recently announced Watson Project, a joint venture with Nemo Resources Inc., represents the largest

landholding in the Fort Hope Greenstone Belt which is significantly underexplored compared to other

greenstone belts (e.g. Red Lake and Pickle Lake) in northwestern Ontario. While the exploration focus will be

on gold, the Watson project also hosts significant potential for critical minerals (e.g. antimony, nickel, copper

and zinc). The proposed road to the Ring of Fire, expected to begin construction in mid -2026, runs through

the Watson property and, once complete, will significantly reduce exploration and development costs.

The Hopedale property covers much of the Archean-age Florence Lake greenstone belt, which extends over

60 kilometers. While typical of greenstone belts globally, the area has been underexplored. LabGold’s work

to date has identified gold anomalies in rocks , soils, and lake sediments across a three -kilometer section of

the northern portion of the belt. Five gold occurrences lie along this trend, four of which were discovered by

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LabGold. Additional anomalous gold values occur across approximately 40 kilometers of the southern portion

of the belt. Recent exploration has also demonstrated potential for copper, nickel, and cobalt.

The Borden Lake project near Chapleau, Ontario lies immediately southeast of Discovery Silver Corp’s Borden

gold mine. Past exploration by LabGold identified two anomalous gold zones based on geochemistry and

geophysics.

The Company has 170,009,979 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

X @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 u ncertainties. 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 unce rtainties, 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

market 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.