Lavras Gold Corp. announced that it's been gold discovery after gold discovery for Lavras Gold Corp. said the Company as it reported on its first quarter on May 15, 2023.

Two rigs have completed 10,712 metres of 16,000-metre drill program at LDS, with results consistently demonstrating that LDS is a unique, large, and complex mineral system. Returned assays are a mix of bulk tonnage and high grade, a combination that yields scale and economics in producing assets. The Company's new gold discoveries in 2022 were at the Matilde and Zeca Souza targets, and historical results from another target, Caneleira, were also reinterpreted.

During the first quarter, Lavras Gold built on this wealth of discoveries with yet another discovery, the Matilde Extension gold discovery. This is a new blind discovery that was made by drill-testing a coincident gold in soil anomaly overlying the intersection of a northeast-southwest trending structure and an east-west trending structure. Multiple intervals of mineralization were intersected in all holes drilled at Matilde Extension, and high-grade gold, silver, and copper mineralization was encountered in three holes.

The best hole, 21MT020, intercepted three intervals of mineralization. The third intercept was the most important, as it was characterized by a thick interval of continuous mineralization featuring very high-grade gold,silver, and copper from 345.00 metres, including: 5.00 metres grading 23.15 g/t gold, 42.75 g/t silver, and 0.41% copper from 347.00 metres. a 1.00 metre sub-zone that yielded grades as high as 63.70 g/t, more than 100 g/t silver, and0.63% copper from 347.00 meters.

After quarter end, the Company announced two more gold discoveries at the Vila Marieta and Galvao targets. The Vila Marieta gold discovery, which is believed to be the southwest surface extension of the Cerrito Gold Deposit, is noteworthy for two reasons: significant surface mineralization and long intervals. Hole 22VM001 returned 28.00 metres at 1.30 g/t gold from surface including 4.00 metres at 2.42 g/t gold from 7.00 metres and 5.00 metres 2.49 g/t gold from 16.00 metres.

It also returned a long internal of 53.00 metres at 0.68 g/t gold from 139.00 metres including 7.72 metres grading 1.04 g/t gold from 148.00 metres. These results are consistent with results from elsewhere on the property: lower grade halos of mineralization of 0.6 or 0.7 g/t gold with higher grade intervals in between. At 1.30 g/t gold, the average gold grade from this surface mineralization is 85% higher than the average grade of Cerrito.

This has important positive implications for optimizing future potential open pit mining scenarios since higher-grade surface mineralized material would ideally be mined first. There is a lot of work to complete, but this is a positive step. The Galvao gold discovery is important because it shows how deep the gold system at Lavras could go.

The highlight was a 10-metre-long interval of 4.63 g/t gold starting at 532 metres down the drill core (which is 461 metres vertical depth) that included a 3-metre subinterval grading 11.70 g/t gold.