Labrador Gold Announces Annual General and Special Meeting of Shareholders in Connection With A Proposed Change of Business

On December 8, 2025, Labrador Gold Corp. (LAB) announced a proposed fundamental Change of Business (COB) to transition from a pure mineral exploration company to a hybrid mining/investment issuer. The company will seek shareholder approval for this change at an Annual General and Special Meeting scheduled for February 24, 2026.

Key components of the announcement include: - Strategic Pivot: The company will leverage its strong treasury to make equity investments in other resource companies while continuing to advance its own exploration projects. - Key Appointments: Renowned geologist Dr. Quinton Hennigh will join as an Investment Advisor, and Kevin Ramsay, CPA, CA, will join the Board of Directors as the proposed Chair of the Audit Committee. - Initial Investment: As its first move, LAB will invest $1 million into Northern Shield Resources Inc. (TSXV: NRN) by subscribing to 16,666,667 subscription receipts at $0.06 each. Upon closing of the COB, these will convert into units, each comprising one common share and one three-year warrant exercisable at $0.10. - Qualifying Property: The company's Hopedale Property will serve as the Qualifying Property for the COB as required by the TSX Venture Exchange.

The company's CEO, Roger Moss, stated the transition is timely due to the difficulty of traditional financing for exploration companies and the current bull market in metals. Dr. Hennigh's involvement is expected to help source high-quality investment opportunities.

This news is materially positive and represents a significant and intelligent strategic pivot for Labrador Gold. After selling its flagship Kingsway project in mid-2024, the company was left with a very strong cash position (approx. $18M) but lacked a clear, compelling catalyst. This announcement provides that catalyst and a clear path forward.

• Strategic Clarity: The transition to a hybrid investment/mining model is a pragmatic solution to the challenges facing junior explorers. Instead of concentrating its entire treasury on the high-risk, binary-outcome drilling of its own early-stage projects (Hopedale and Borden Lake), LAB will now diversify this risk across a portfolio of assets chosen by an experienced team.
• De-Risking the Business Model: This pivot significantly de-risks the company. It transforms LAB from a single-project exploration bet into a well-funded merchant bank for the junior resource sector, while still retaining the exploration upside from its own properties.
• Credibility Boost: The appointment of Dr. Quinton Hennigh as an Investment Advisor is a major endorsement. Dr. Hennigh is highly respected for his technical acumen and has a strong following in the resource investment community. His involvement signals a commitment to high-quality, technically vetted investments and should attract significant investor interest.
• Prudent Capital Allocation: The initial $1M investment in Northern Shield represents less than 6% of LAB's cash position. This is a measured first step that demonstrates the model in action without significant capital risk. The terms, including pre-emptive rights, are favourable and position LAB as a strategic, long-term partner.

In essence, LAB is leveraging its two greatest assets: its large cash treasury and its management's expertise. This news provides a clear, credible, and well-funded business plan that was previously lacking. The market should react favourably to this newfound strategic direction and the reduction in single-asset risk.

Labrador Gold was a Canadian-based mineral exploration company focused on gold. Its former flagship was the Kingsway Project in Newfoundland, which was sold to New Found Gold in mid-2024. The company's current exploration portfolio consists of the 100%-owned Hopedale gold project in the Florence Lake greenstone belt in Labrador and the Borden Lake Extension project in Ontario.

With the proposed Change of Business, the company's strategy is shifting. While it will continue to explore its own properties, its new "flagship" initiative is building a portfolio of strategic investments in other resource companies. The Hopedale project is being used as the Qualifying Property to satisfy exchange listing requirements for the new business model.