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LGC.V ·

Lavras Gold launches Gold Trail in Rio Grande do Sul

Corporate Updates

News release 2023-3

NEWS RELEASE: Lavras Gold launches Gold Trail in Rio Grande do Sul (February 23, 2023) 1

Lavras Gold launches Gold Trail in Rio Grande do Sul

TORONTO, ONTARIO – February 23, 2023 – A cultural education program on the

importance of gold mining to the development of the town of Lavras do Sul was

launched earlier this month by Lavras do Sul Mineração (LDS Mineração), Lavras

Gold Corp.’s (TSXV: LGC, OTCQB: LGCFF) Brazilian subsidiary.

Developed in partnership with LDS Mineração, the Rota do Ouro, or Gold Trail, is a

route with five stations that each highlight an aspect of gold mining history in the

Lavras do Sul Community:

• Estação Memória at Casa de Cultura José Neri da Silveira

• Estação Pecuária at Olavo de Almeida Macedo Exhibition Park

• Estação Water at Camping Municipal Zeferino Teixeira

• Garimpo Station at Caju Negócios Imobiliários

• Mineral Riches Station at the office of LDS Mineração.

All community members will be able to tour the route, but the project’s outreach

will initially focus on Grade 4 students in the town’s elementary school. Children

will visit twice, once each semester, coinciding with when the curriculum covers

the town’s history.

“We want this to be an interactive experience,” said Paulo Serpa, Lavras Gold’s

Country Manager. “At the beginning of the visit, every child will receive a passport

that will be stamped at each station after a presentation on what happened there

and why it’s important.”

The final station is at the Company’s offices, where a geologist will show some drill

core and mineral samples and talk about Lavras Gold’s exploration program.

About 24 representatives from the community, including from the departments

of education, environment, and planning, attended the inaugural tour. Each

guest received a small biodegradable jewelry box made from sheep’s wool by

local artisans.

“We chose something connected to the town that referenced gold,” said

Fernanda Carvalho, who created the Gold Trail and consults on social integration

projects for LDS Mineração. “Inside we placed broad beans, which are native to

the area and can be planted and grown locally.”

CEO Michael Durose will talk more about the Gold Trail and how Lavras Gold is

building strong community relationships in a panel on Latin America at Mines

and Money Miami on Friday, February 24 starting at 3 p.m.

News release 2023-3

NEWS RELEASE: Lavras Gold launches Gold Trail in Rio Grande do Sul (February 23, 2023) 2

About Lavras Gold

Lavras Gold (TSXV: LGC, OTCQB: LGCFF) is a Canadian exploration company

focused on realizing the potential of a multi-million-ounce gold district in

southern Brazil. Its Lavras do Sul Project is in Rio Grande do Sul State and

primarily an intrusive hosted gold system of possible alkaline affinity. More than

23 gold prospects centred on historic gold workings have been identified on the

property, which spans more than 22,000 hectares.

Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and

YouTube.

Contact information

Michael Durose Annemarie Brissenden

President & CEO Investor Relations

416-844-6284 416-844-6284

[email protected] [email protected]

DISCLAIMER

Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.

FORWARD-LOOKING INFORMATION

This news release contains certain “forward-looking information” within the meaning of applicable

securities laws. Forward-looking information is frequently characterized by words such as “plan”, “expect”,

“project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other

similar words, or statements that certain events or conditions “may” or “will” occur. These statements,

including those on planned exploration activities and goals, are only objectives and predictions.

Forward-looking information is based on the opinions and estimates of management at the date the

information is provided, and is subject to a variety of risks and uncertainties and other factors that could

cause actual events or results to differ materially from those projected in the forward-looking information,

including the risks and factors that generally affect exploration and the uncertainty of exploration results

and the ability to obtain regulatory approval for the Consolidation. For a description of the risks and

uncertainties facing the Company and its business and affairs, readers should refer to the Company’s

Management’s Discussion and Analysis and Listing Statement recently filed under the Company’s profile

on www.sedar.com. The Company undertakes no obligation to update forward-looking information if

circumstances or management’s estimates or opinions should change, unless required by law. The reader is

cautioned not to place undue reliance on forward-looking information.