Labrador Gold drills 0.5 m of 76.24 g/t Au at Kingsway

Mr. Roger Moss reports

LABRADOR GOLD INTERSECTS 76.24 G/T GOLD OVER 0.5 METRES, DEFINES NEW FOOTWALL ZONE AT KINGSWAY PROJECT

Labrador Gold Corp. has released further high-grade intercepts of near-surface gold mineralization along the Appleton fault zone at its 100-per-cent-controlled Kingsway project near Gander, Nfld. These holes were drilled as part of the company's continuing 50,000-metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Two holes, K-21-28 and -79, both contained high-grade intervals. Hole K-21-28 intersected 76.24 grams per tonne gold over 0.5 m from 175 metres and hole K-21-79 intersected 32.53 g/t Au over 0.8 m from 162.55 m, both in the HTC zone. In addition, hole K-21-58 intersected 7.25 g/t Au over one m from 161 m in a newly defined mineralized zone in the footwall to the HTC zone. This HTC footwall zone is also defined by previously released intersections of 128.51 g/t Au over 1.12 m in hole K-21-47 and 11.68 g/t Au over 0.91 m in Hole K-21-11. A summary of the high-grade intersections, as well as other holes with assays recently received, are given in the attached table.

"We continue to find high-grade gold mineralization down plunge in the HTC zone. The zone has now been tested to approximately 200 metres vertically and remains open at depth," said Roger Moss, president and chief executive officer of the company. "We are also pleased to confirm a third mineralized zone in the footwall to the HTC zone. We suspected the existence of this footwall zone for a while, but it has now shown sufficient continuity to call it a separate zone. This clearly shows the potential for multiple high-grade mineralized zones at the Big Vein target. Drilling to delineate the footwall zone and to test the down plunge extension of the HTC zone is continuing."