Labrador Gold: Raises $2.94 Million from Exercise of Share Purchase Warrants

TORONTO, Nov. 24, 2020 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX-V: LAB) (“LabGold” or the “Company”) is pleased to announce that it has raised $2.94 million from the exercise of share purchase warrants (the “warrants”) with a strike price of $0.30 and $0.35. The warrant exercise increases the Company’s cash position to $12.37 million.

“These additional funds allow us to advance our growth strategy by continuing to aggressively explore our Kingsway Project. We are now fully funded for our anticipated 2021 exploration program,” said Roger Moss, President and CEO. “We look forward to a significant diamond drill program early in the new year on the quartz vein containing visible gold, exploring it along strike to the northeast and southwest, following up on the excellent work completed by our LabGold team to date.”

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

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