Labrador Resources Ltd. Announces Proposed Private Placement and Debt Extending Agreements

(TheNewswire)

CALGARY, ALBERTA – February 24,2026 – TheNewswire -Labrador Resources Ltd. (“Labrador” or the“Corporation”) (TSXV:LTX) announces that it intends to complete aprivate placement and that it has entered into agreements to extendthe repayment of certain of its existing debt.

Proposed Private Placement

Labrador intends to complete a private placement of upto 6,000,000 units (“Units”) for gross proceeds of up to $300,000(the “Offering”).  Each Unit will be priced at $0.05 and will consist ofone common share of the Corporation (“Common Share”) andone common share purchase warrant (“Warrant”). EachWarrant will entitle the holder to acquire an additional Common Shareat a price of $0.06 per Common Share for 1 year following closing ofthe Offering and at a price of $0.10 per Common Share for anadditional 1 year thereafter.

The Corporation may pay commissions of six percent (6%)to qualified finders or agents and may issue broker warrants(“Broker Warrants”) for upto six percent (6%) of the total number of Units issued pursuant tothe Offering.  Each Broker Warrant will entitle the holder topurchase a Common Share at a price of $0.06 for a period of two (2)years from the date of closing of the Offering.

There is no minimum Offering.

Proceeds from the Offering will be used for generalworking capital purposes and for expenses related to theOffering.

The Corporation will rely on the Exemption for Sales toPurchasers Advised by Investment Dealers.  In that regard, theCorporation confirms that there is no material fact or material changerelated to the Corporation which has not been generallydisclosed.

In addition to offering the Units pursuant theExemption for Sales to Purchasers Advised by Investment Dealers, theUnits are also being offered pursuant to other available prospectusexemptions, including sales to accredited investors. Unless theCorporation determines to increase the gross proceeds of the Offering,if subscriptions received for the Offering based on all availableexemptions exceed the maximum Offering amount of $300,000, Units willbe allocated prorata among all subscribers qualifying under allavailable exemptions.

The Common Shares, Warrants and Broker Warrants thatmay be issued pursuant to the Offering will be subject to a four monthand one day hold period.

Completion of the Offering remains subject to theapproval of the TSX Venture Exchange.

Debt Extending Agreements

Labrador also announces that it has successfullynegotiated extending agreements with the holders of a Debenture, aNote Payable and a Term Loan (the “Existing Indebtedness”).

The terms of the Existing Indebtedness will remainunchanged except as follows:

1) The maturity date has beenextended to October 31, 2027; and

2) All amounts owing under theExisting Indebtedness will be convertible, at the holder’s option,into Common Shares at a price of $0.05 per Common Share for the first1 year following closing of the Offering, and at a price of $0.10 forthe following 2 years.

About Labrador

Labrador's Common Shares are listed on the TSX-Vunder the symbol "LTX". More information on Labrador may beviewed on www.sedarplus.ca.

Cautionary Note RegardingForward-Looking Statements

This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation. Forward-looking statements include, but arenot limited to, the Corporation's ability to obtain necessaryapprovals from the TSX Venture Exchange with respect to the Offeringand the use of proceeds of the Offering.  Forward-looking statementsare necessarily based upon a number of estimates and assumptions that,while considered reasonable, are subject to known and unknown risks,uncertainties and other factors which may cause the actual results andfuture events to differ materially from those expressed or implied bysuch forward-looking statements. Such factors include, but are notlimited to: general business, economic, competitive, political andsocial uncertainties; delay or failure to receive board, shareholderor regulatory approvals; the price of metals including gold, silvercopper, cobalt and uranium; and the results of exploration programs.There can be no assurance that such statements will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking statements. Labradordisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a result of new information,future events or otherwise, except as required by law.

Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.

For further information, pleasecontact:

Jeff Graw, CEO

Email: jeffgraw.214@gmail.com

Or:

John Aihoshi

Email: aihoshij@gmail.com

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