Labrador Resources Inc. Provides Update on Proposed Acquisition of Critical Path Resources Corp.

Labrador Resources Inc. Provides Update on Proposed Acquisition of Critical Path

Resources Corp.

Calgary, Alberta – November 1, 2024 – Labrador Resources Inc. (TSXV: LTX) ("Labrador" or

the "Company") announces that the previously disclosed Letter of Intent (“LOI”), dated September

3, 2024, regarding its proposed acquisition of all issued and outstanding shares of Critical Path

Resources Corp. ("CPR"), has been terminated by mutual agreement, as the closing did not occur

by the deadline of October 30, 2024, and the Kasten Debt Restructuring will not be proceeding, as

previously announced.

The LOI provided for the acquisition of 100% of the issued and outstanding common shares of

CPR, wholly owned by Critical Path Minerals Corp. (the " Vendor"). CPR is an exploration and

development company incorporated under the laws of Alberta holding sixteen (16) contiguous

uranium exploration mineral claims covering 54,450 hectares in northern Saskatchewan. Due to

conditions not being met within the specified timeframe, both parties agreed to terminate the LOI,

and the acquisition will not proceed under the current terms.

While the acquisition will not move forward, Labrador remains committed to its strategy of

identifying and advancing high-potential projects. The Company will continue to pursue

opportunities to strengthen its resource base and build operational capabilities, with a focus on

assembling a technical team to support these objectives.

About Labrador Resources Inc.

Labrador Resources Inc. is a resource exploration company focused on high-potential projects,

with oil and gas assets in Alberta’s Atlee area.

Contact Information

Kaan Camlioglu

CEO

Phone: 403 818 1091

Email: [email protected]

Forward-Looking Information

This news release contains forward-looking information, including statements about Labrador’s

plans to pursue new opportunities and enhance operational capabilities. These statements are based

on assumptions and factors the Company believes to be reasonable but are subject to risks and

uncertainties. Actual results may vary. Labrador undertakes no obligation to update forward-

looking information except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility

for the adequacy or accuracy of this release.

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