Labrador Gold Corp. announced that it has fulfilled the requirements of the Hopedale option agreement dated December 7, 2020 and has exercised its option to acquire 100% of the four licenses covering 695 claims comprising the Hopedale property. The Hopedale Project remains subject to a 2% net smelter return royalty.

The district scale Hopedale property covers a 43km strike length of the Florence Lake greenstone belt. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by LabGold has resulted in the discovery of three gold occurrences, which together with the previously known Thurber Dog occurrence, stretch over a 3-kilometre section of the northern portion of the greenstone belt.

The four gold occurrences show significant gold assays including: Thurber North up to 3.8 g/t Au; TD500 up to 21.59 g/t Au; Thurber Dog up to 11.4 g/t Au; Thurber South up to 4.1 g/t Au. Additional gold anomalies in rock and soil indicate potential for further discovery of gold occurrences along this trend.