Labrador Resources Inc. Issues Clarification on Previously Filed Reserves Data

News Release

Labrador Resources Inc. Issues Clarification on Previously Filed Reserves Data

Labrador Resources Inc. ("Labrador" or "the Company") wishes to inform stakeholders of a

correction regarding its previously filed reserves data for the year ending October 31, 2023,

disclosed in Form 51-101F1.

The Alberta Securities Commission ("ASC") has identified that the reserves evaluation included

in the Company's filing was not prepared by an Independent Qualified Reserves Evaluator

(“IQRE”) as defined under NI 51-101. As a result, the information in Form 51-101F1 should not

be relied upon.

The Company has engaged Boury Global Energy Consultants Ltd., a certified IQRE, to conduct

a reserves evaluation with an effective date of October 31, 2023, and October 31, 2024. The

updated NI 51-101 Forms (F1, F2, and F3) for October 31, 2023, will be amended and refiled

once the evaluation is complete.

Labrador is committed to ensuring the accuracy of its disclosures and maintaining compliance

with all regulatory requirements and will provide updates as new information becomes available.

Contact Information

Kaan Camlioglu

CEO

Phone: 403 818 1091

Email: [email protected]

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