Labrador Gold Announces Sale of Kingsway Project

TORONTO, April 22, 2024 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has entered into a property purchase agreement (the “Definitive Agreement”) with New Found Gold Corp. (“NFG”), whereby NFG will acquire a 100% interest in the Kingsway Project, including all property and mining rights associated with the property, (the “Transaction”) in exchange for $20,000,000 CAD (the “Purchase Price”) payable and satisfied by the delivery to LabGold of such number of NFG Common Shares (the “Consideration Shares”) determined by dividing the Purchase Price by the closing price of the NFG Common Shares on the TSX Venture Exchange (“TSXV”) on the last trading day prior to the closing of the Transaction. The Consideration Shares will be subject to a resale restriction of four months and one day from the closing of the Transaction.

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