TORONTO, May 11, 2026 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has signed an option agreement dated May 8, 2026 with Pacific Ridge Exploration Limited ((PEX: TSXV; PEXZF: OTCQB) (“Pacific Ridge”) to acquire a 100% interest in the Mariposa and Eureka Dome gold projects, Yukon Territory.
Mariposa Project Highlights
The 16,000 ha Mariposa project consists of 795 claims situated in the White Gold District, approximately 120 kilometres southeast of Dawson City and is accessible by fixed wing aircraft and winter road. The project lies approximately 15 kilometres east of the proposed Northern Access Route (NAR), an all-season road being constructed from Dawson City to the Coffee Gold project.
The property is 40 kilometres southeast of White Gold’s White Gold Project (Indicated resources of 1.73 Moz Gold and inferred resources of 1.27 Moz Gold) and 30 kilometres east-northeast of Fuerte’s Coffee property (Measured and Indicated resources of 2.96 Moz and inferred resources of 0.8 Moz).
Mariposa shows geological similarities to both the Golden Saddle (part of the White Gold Project) and Coffee deposits including host lithology, style of gold mineralization and structural control. The age of gold mineralization at Mariposa (~155 Ma) is consistent with that at Golden Saddle (163.5 to 155.5 Ma) and other prospects in the district indicating that the mineralization is associated with a widespread orogenic gold event.
The property occurs at the headwaters of significant placer producing creeks. Historic placer gold production of 73,000 oz from Scroggie Creek which cuts the Mariposa property is indicative of significant bedrock gold mineralization yet to be fully defined.
Past exploration on the property was largely completed between 2010 and 2015, with only limited work since, representing an opportunity for LabGold to re-evaluate the extensive database and further explore the project using modern technology and with a better understanding based on results of recent work elsewhere in the district.
Six Significant Gold Occurrences
Delineated by over 13,000 soil samples, these include:
- Skookum Main: 0.6 by 1.1 km gold in soil anomaly with significant drill intercepts.
- Skookum West: 0.8 by 1.5 km soil anomaly with anomalous values in antimony, bismuth, copper and molybdenum. Trenching returned 1.40 g/t Au over 40 m including 1.83 g/t Au over 20 m in SWTR12-11.
- Maisy May and Gertie: Associated with a northwest trending quartz muscovite schist zone traced for 14 km across the property.
- Big Alex: Two 100 by 300 m gold in soil anomalies within a 1 km long by 0.5 km wide zone along a northerly trending structure.
- Hackly Gold: A 700 by 400 m gold in soil anomaly with bismuth and molybdenum. Quartz vein float sample from upper Mariposa Creek returned 102.9 g/t Au, but source has not yet been found.
- Alberta Creek: Covers a northwest trending discontinuous 3 km long gold in soil anomaly, the main southeast portion of the anomaly is 200-400 m wide by 750 m long.
LabGold plans to consolidate and reinterpret the existing data, conduct further geochemical and geophysical surveys, and initiate diamond drilling to test priority targets. The option agreement provides LabGold with a strategic entry into the prolific White Gold District, complementing its existing portfolio of gold projects in Canada.
