Labrador Gold Further Confirms High-Grade Gold Target at Kingsway

Highlights

• New rock chip assays including 184.68 g/t Au, 65.9 g/t and 38.5 g/t Au confirm strong high-grade epizonal orogenic gold target at the Big Vein prospect.
• Numerous +1g/t Au assays now define at least a 100m strike length along the NE-trending Big Vein and associated splay structure.
• Quartz vein now defined over a strike length of 400m within a larger corridor of intermittently exposed quartz veining extending over 7.5km strike northeast to southwest.
  

TORONTO, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest high-grade assay results from samples collected near the area of visible gold at the Big Vein target, part of its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.

Assays from 134 new grab samples taken over a 250-metre strike length of quartz vein (“Big Vein”) southwest of the previously announced visible gold samples (see news release dated November 9, 2020) range from below detection (<5ppb) to 184.7g/t Au in sample 526169 which contained visible gold. Samples 526170, 526171 and 526172 also contained visible gold. Significant (+1g/t Au) assays in the vicinity of the initial visible gold samples have now been reported from samples up to 29 metres north and 70 metres to the southwest. Highlights of the results are given below.

Sample #	Sample Type	Sample Type	Rock Type	Au (g/t)
526169	Float	Grab*	Quartz vein with visible gold	184.68
526171	Float	Grab	Quartz vein with visible gold	65.94
526138	Float	Grab	Quartz vein with py	38.47
526136	Subcrop	Grab	Quartz vein with py and cpy	8.50
526125	Outcrop	Grab	Quartz vein with py	5.26
526128	Outcrop	Grab	Quartz vein with py and cpy	3.64
526172	Float	Grab	Quartz vein with visible gold	3.43
526170	Float	Grab	Quartz vein with visible gold	1.87
526135	Subcrop	Grab	Quartz vein with py and cpy	1.60
526471	Subcrop	Grab	Quartz vein	1.32
526139	Float	Grab	Quartz vein with py	1.13

*Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property.