Labrador Gold urges shareholders to vote blue

Executive Summary

• Labrador Gold Corp. is urging shareholders to vote exclusively on the "blue" proxy form ahead of the Feb. 20, 2026, deadline to reject a proxy contest initiated by dissident shareholder Coloured Ties Capital Inc.
• The company highlights support from major shareholder Crescat Capital LLC (approx. 8.9% stake) and independent proxy advisors ISS and Glass Lewis, who recommend voting for the board's slate.
• The release frames the vote as a choice between the board's disciplined strategy (including a recent joint venture with Nemo Resources for the Watson project) and the dissident's alleged lack of credible strategy and potential conflicts of interest.

Key Details

• Voting Deadline: Feb. 20, 2026, at 11 a.m. Toronto time.
• Shareholder Meeting: Annual General and Special Meeting of Shareholders scheduled for Feb. 24, 2026.
• Proxy Conflict: Shareholders are instructed to vote only on the blue proxy form and disregard any gold or other proxy materials from the dissident, Coloured Ties Capital Inc.
• Key Shareholder Support: Crescat Capital LLC, holding approximately 8.9% of issued and outstanding shares, has indicated its intention to vote on the blue proxy in line with Labrador Gold's recommendations.
• Proxy Advisor Recommendations: Both Institutional Shareholder Services (ISS) and Glass Lewis & Co. have reviewed the facts and recommended shareholders vote only on the blue proxy and reject the dissident's attempt to seize control.
• Strategic Context (Board Position):
  • The board claims to have reviewed 50+ deals, walking away from dilutive options.
  • Recent announcement of a joint venture with Nemo Resources Inc. for the Watson project in Ontario.
  • Claims the dissident has provided no credible project details, timelines, or milestones.
  • Alleges the dissident used misinformation regarding Nemo Resources' evaluation of the Watson property in fall 2025, a claim Nemo Resources denies as "100% false."
• Dissident Concerns Cited: The board alleges all four dissident nominees have financial or business ties to LaFleur Minerals Inc., raising conflict of interest concerns.
• Company Assets Mentioned:
  • Watson Project: Joint venture with Nemo Resources; largest landholding in the Fort Hope greenstone belt; potential for gold and critical minerals (antimony, nickel, copper, zinc); proximity to the proposed Ring of Fire road.
  • Hopedale Property: Covers the Florence Lake greenstone belt; identified gold anomalies and potential for copper, nickel, and cobalt.
  • Borden Lake Project: Near Discovery Silver Corp.'s mine; identified two anomalous gold zones.
• Share Count: 170,009,979 common shares issued and outstanding.
• Ticker: LAB (TSX Venture Exchange).

Notable Quotes

• Roger Moss, President and CEO: "We appreciate Crescat's continued support of Labrador Gold... Along with the recommendations from the global leading independent proxy advisors, ISS and Glass Lewis, it reminds our shareholders of the opportunistic and self-serving nature of the dissident's action."
• Roger Moss, President and CEO: "Your vote on blue determines who controls approximately $16-million in cash to execute a long-term strategy to create shareholder value. This is a one-way decision. Once capital is mismanaged, it is gone forever."
• ISS on the dissident: "The dissident's campaign lacks many basic hallmarks of thoughtful activism... Thus, the dissident has not presented a compelling case for any level of change, let alone a majority position."