Labrador Uranium Inc. announced the completion of the previously announced acquisition of the Angilak Property, located in Nunavut Territory, Canada, from ValOre Metals Corp. ("ValOre"), all by way of a court-approved plan of arrangement. As a result of the completion of the Arrangement, Mr. Jim Paterson, ValOre's Chairman and Chief Executive Officer, and Robert Carpenter, have been appointed to the board of directors of the Company (the "Board").

Each of Messrs. Paterson and Carpenter were elected to the Board at the annual and special meeting of the Company's shareholders held on May 31, 2023 (the "Meeting"), subject to completion of the Arrangement.