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TORONTO, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“LabGold& or the “Company&) announces that its Board of Directors (the “Board&) has initiated a comprehensive review of strategic alternatives aimed at maximizing shareholder value and positioning the Company for its next phase of growth.

The strategic review follows the Company's recently completed financing and the resulting strengthening of its balance sheet, together with changes to its shareholder base and leadership. The Board believes these developments present a timely opportunity to reassess the Company's strategic direction, evaluate its existing portfolio of assets and consider opportunities to enhance long-term shareholder value.

As part of the strategic review, the Board intends to evaluate a broad range of potential transactions, corporate initiatives and strategic alternatives, including, but not limited to:

• Separation of Exploration and Investment Activities: The potential bifurcation of the Company's mineral exploration business and investment activities, including the establishment of a separately capitalized investment issuer focused on strategic investments in publicly traded and private companies in the natural resources sector.
  

• Capital Allocation and Corporate Structure: A review of the Company's capital allocation priorities, corporate cost structure, governance framework and financing strategies to ensure its financial resources are deployed efficiently and, in a manner, consistent with the objective of maximizing shareholder returns.
  

• Strategic Acquisitions: The identification and potential acquisition of mineral exploration and development assets, with a particular focus on opportunities that complement the Company's existing portfolio and offer compelling exploration potential and long-term value creation opportunities.
  

• Portfolio Optimization and Asset Divestitures: A comprehensive assessment of the Company's existing mineral exploration assets, including potential divestitures, joint ventures, earn-in arrangements and other transactions intended to optimize the Company's asset portfolio, unlock value and prioritize capital allocation.
  
  

“The commencement of this strategic review marks an important step in the evolution of LabGold,& said Raymond D. Harari, President and Director of the Company. “With a significantly strengthened financial position and an expanded and engaged shareholder base, we believe the Company is well positioned to evaluate a broad range of opportunities. Our objective is to ensure that LabGold's assets and financial resources are deployed strategically, while identifying opportunities to unlock value from our existing portfolio and establish a foundation for sustainable, long-term growth.&

The Board intends to complete its strategic review by January 15, 2027, although there can be no assurance that the review will result in any particular transaction, corporate reorganization or other strategic change, or that any potential transaction will be completed. Any proposed transaction or corporate reorganization will be subject to applicable regulatory, stock exchange, shareholder and other approvals, as required.

The Company does not intend to provide further updates regarding the strategic review unless and until material developments arise or disclosure is otherwise required under applicable securities laws.

About Labrador Gold

Labrador Gold is a Canadian-based hybrid mining and investment issuer focused on the acquisition and exploration of prospective mineral projects in Canada and on strategic investments in mining companies and assets that the Company believes have the potential to generate long-term value. The Company has 286,012,288 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the 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 information& within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may&, “will&, “expect&, “likely&, “should&, “would&, “plan&, “anticipate&, “intend&, “potential&, “proposed&, “estimate&, “believe& or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may& or “will& happen, or by discussions of strategy. Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management's perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. Any such forward-looking information is based on information currently available to LabGold and is based on assumptions and analyses made in light of LabGold&s experience and perception of historical trends and current conditions. While the Company considers these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. Readers are cautioned that actual results may vary from the forward-looking information, and undue reliance should not be placed on such forward-looking information.

By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Additional risk factors can also be found in LabGold&s financial statements and management&s discussion and analysis, which are available under LabGold&s profile on SEDAR+ at www.sedarplus.ca.

Unless otherwise indicated, the forward-looking statements in this news release are based on the Company&s expectations at the date of this news release. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. LabGold undertakes no obligation to update or revise such forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.