Labrador Uranium Completes Acquisition of Angilak Property

TORONTO, June 20, 2023 (GLOBE NEWSWIRE) — Labrador Uranium Inc. (“Labrador Uranium”, “LUR” or the “Company”) (CSE: LUR, OTCQB: LURAF, FRA: EI1) is pleased to announce the completion of the previously announced acquisition of the Angilak Property, located in Nunavut Territory, Canada (the “ Angilak Property ”), from ValOre Metals Corp (“ ValOre ”), all by way of a court-approved plan of arrangement (the “ Arrangement ”). The Arrangement was effective on June 19, 2023. The Company is also pleased to announce that it has satisfied the outstanding conditions for the release of the escrowed funds from the Company’s previously announced C$12.6 million brokered private placement of 18,672,000 subscription receipts (the “ Subscription Receipts ”) and 14,359,698 flow-through subscription receipts (the “ FT Subscription Receipts ” and together with the Subscription Receipts, the “ Offered Securities ”), which closed on April 5, 2023 (the “ Concurrent Private Placement ”).

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