Labrador Gold cheers Ontario's faster Ring of Fire road

Executive Summary

• Labrador Gold Corp. welcomes the Ontario government's announcement to accelerate the construction of the Ring of Fire road, with early works planned to begin in June 2026, five years ahead of the original schedule.
• The proposed infrastructure, including the Northern Road Link and Marten Falls Community Access Road, will traverse the company's Watson property in the Fort Hope greenstone belt, potentially reducing future exploration and development costs.
• The Watson property, a joint venture with Nemo Resources Inc. held by Elementary Minerals, is the largest landholding in the region (127,000 hectares) and is positioned for an inaugural exploration program, including a 4,582 line km airborne electromagnetic survey, with potential drilling as early as winter 2027.

Key Details

• Infrastructure Update: The Ontario government has accelerated the Ring of Fire road timeline; early works construction is scheduled to begin in June 2026.
• Property Impact: The Northern Road Link will bisect the northern portion of the Watson project, and the Marten Falls Community Access Road will run along the south side of the northeastern claim block.
• Joint Venture Structure: Elementary Minerals holds 127,000 hectares of map-staked mining claims in the Fort Hope greenstone belt. It is jointly owned by Labrador Gold (80%) and Nemo Resources Inc. (20%). The property is 100% owned by Elementary with no underlying royalties or option payments.
• Geological Potential: The Watson property covers the interpreted trace of three major belt-parallel structures:
  • 73 km of the Norton Lake shear zone
  • 35 km of the Gourlie Creek shear zone
  • 15 km of the Washi Lake shear zone
  • All three zones have been virtually untested for gold. Labrador Gold targets gold mineralization associated with folded/faulted banded iron formation (BIF) units adjacent to these shear zones.
• Exploration Program:
  • Elementary has initiated outreach to local First Nations to secure social licence.
  • Inaugural program includes a 4,582 line km airborne electromagnetic survey to identify bedrock conductors and magnetic anomalies.
  • Follow-up activities include soil surveying and prospecting this summer.
  • Initial drill program is targeted for as early as winter 2027.
• Management Commentary: CEO Roger Moss cited Ontario’s ranking as second globally for investment attractiveness in the Fraser Institute's Annual Survey of Mining Companies (2025), published in February 2026.
• Other Assets:
  • Hopedale Property: Covers the Archean-age Florence Lake greenstone belt (60+ km); identified gold anomalies in rocks, soils, and lake sediments across a 3-km section; potential for copper, nickel, and cobalt.
  • Borden Lake Project: Located southeast of Discovery Silver Corp.'s Borden gold mine; identified two anomalous gold zones based on geochemistry and geophysics.

Notable Quotes

• Roger Moss, CEO: "Ontario's recent announcement to fast-track road access to the Ring of Fire is a clear signal of the province's commitment to northern mineral development. As this infrastructure advances, the Watson project is positioned to benefit meaningfully."
• Ryan Weston, VP Exploration: "Significant BIF-hosted gold mineralization, such as that seen at Canadian Goldfields' Miminiska project, is well documented in the western Fort Hope greenstone belt. We believe the eastern half of the belt is equally well endowed yet has seen only limited exploration. This underexplored setting provides a rare opportunity to gain early exposure to a compelling grassroots gold play in a world-class jurisdiction."