Coloured Ties Announces Intention to Solicit Proxies to Reconstitute Labrador Board and To Reject Change of Business

• Labrador Board is responsible for Perpetual Underperformance of the company.
• Proposed Change of Business to Investment Issuer is Risky and Ill-advised.
• Coloured Ties is currently reviewing brownfield mineral exploration projects where Labrador's treasury can be deployed to create shareholder value.
• We aim to build Labrador Gold into a respected mineral exploration company with 100% ownership of brownfield projects.

Vancouver, British Columbia--(Newsfile Corp. - January 13, 2026) - Coloured Ties Capital Inc. (TSXV: TIE) (OTC Pink: APEOF) (FSE: 97A0) ("CTI" or "Coloured Ties"), one of the largest shareholders of Labrador Gold Corp. (TSXV: LAB) (OTC Pink: NKOSF) (FSE: 2N6) ("Labrador" or the "Company"), together with Kal Malhi and Rauni Malhi (the "Concerned Shareholders", "us" or "we"), today announce that they intend to solicit proxies to be voted at the annual and special shareholders meeting of the Company to be held on February 24, 2026 (the "Meeting") in order to reconstitute the board of directors of the Company (the "Board") and to reject the Company's proposed change of business to pursue a hybrid business model between resource development and investment (the "Change of Business").

The Concerned Shareholders own or control approximately 8.40% of the Company's outstanding common shares, and we have significant concerns regarding Labrador's poor corporate governance and perpetual underperformance. The Board has destroyed shareholder value over the last five years in absolute and relative terms. After attempting to engage with the Board without success, we have concluded that the Board appears more interested in entrenching themselves than enhancing shareholder value. The recent announcement seeking shareholder approval of a Change of Business is, in our view, a desperate attempt to distract shareholders from the Company's poor performance and problematic decisions.

We believe an immediate reconstitution of the Board is needed to ameliorate Labrador's weak performance, to enable the Company to become a respected mineral exploration company led by qualified executives and to create value for all stakeholders.

Numerous shareholders have reached out to us to express their frustration and to note that change is required NOW.

We highlight below some of the key decisions made by the Board during the past 18 months which have been ineffective at value creation and have led to opportunities being squandered and a total loss in confidence: