Lavras Gold Corp. released the results from nine (9) new drill holes testing the Butiá Gold Deposit, located at the western edge of the LDS project in southern Brazil. Gold mineralization was intersected in all nine holes at the Butiá Deposit, which hosts a NI43-101 compliant measured, indicated and inferred gold resource of approximately 0.5 million ounces.

Several of these new holes were designed to increase the confidence in the Butiá resource (converting the Inferred Resource into the Measured & Indicated categories) and others to potentially increase the gold endowment as explained below. These new results continue to move Lavras Gold toward its short-term corporate goal of defining an economically feasible gold resource on the LDS Project, focused on the Butiá gold deposit and the adjacent Fazenda do Posto gold target. Highlights: Drilling- Hole 23BT016 returned: 154.0 metres grading 1.1 g/t gold from surface and including: 109.00 metres grading 1.4 g/t gold from surface, 29.0 metres grading 2.9 g/t gold from 25.0 metres, and 5.0 metres grading 4.7 g/t gold from 29.0 metres, 18.0 metres grading 3.2 g/t gold from 30.0 metres, and.

16.00 metres grading 1.0 g/t gold from 208.00 metres and including: .00 metres grading 2.1 g/t gold from 208.00 metres. Regional Exploration Program - Soil Survey Results: Three significant gold-in-soils anomalies at the following targets: A 3.8 km by 3.2 km anomaly centered over the Matilde and Matilde Extension targets in the southern portion of the property, A 4.6 km by 4.8 km anomaly overlying historical gold workings including Galvao, Zeca Souza and Caneleira, along the western and central western portion of the Lavras do Sul Intrusive Complex, A more scattered anomaly centred along the eastern flank of the Lavras do Sul Intrusive Complex and overlying volcanic rocks (roughly 4 km by 3.7 km). Butiá is the most advanced gold deposit on the LDS property consisting of approximately 0.5 million ounces of gold, located 150 metres east of the recent Fazenda do Posto gold discovery.

The purpose of the current drilling program at Butiá is to increase the geological confidence of the existing gold resource by converting a significant portion of inferred geological resources into the measured and indicated categories and to increase the gold endowment of the existing gold resource. Approximately 23.3% of the existing resource estimate is in the Inferred category and the remaining 76.7% in the measured and indicated categories. Drilling has defined the Butiá gold mineralization over a northwest-southeast strike length of approximately 375 metres, a northeast-southwest strike length of 345 metres and from surface to a depth of 350 metres.

The deposit is open to possible expansion in several directions. Generally, long continuous intervals of gold mineralization containing higher-grade subintervals were encountered. The host rocks are extensively hydrothermally altered, and gold is typically hosted in disseminated sulphide minerals (pyrite +- arsenian pyrite) within episyenite host rock or mineralized perthitic granite.

Occasional visible gold has been observed associated with sulphide minerals (galena, pyrite). The mineralization is bulk tonnage in its nature. Drill hole 23BT016 was collared in the central portion of the Butiá gold deposit slightly southwest of the measured portion of the gold resource.

The hole was drilled at an inclined angle of 60 degrees on an azimuth of 200 degrees. The purpose was to provide a scissor hole to 23BT012 and to test for gold grade continuity through this portion of the deposit. The hole was also designed to extend the measured category of the mineral resource to the southwest.

A long interval of continuous bulk-tonnage disseminated gold mineralization was encountered from surface to a depth of 154.0 metres within mineralized episyenite. Lavras Gold?s short-term corporate objective is to define an economic gold resource on the LDS Project with a focus on the Butiá gold deposit and adjacent Fazenda do Posto gold target. A 25,000-metre diamond drilling contract has been signed with GeoSol, a Brazilian drilling company.

The current drilling program consists of two diamond drill rigs that are now on site and designed to test exploration targets continuously from now until the first half of 2025. This drilling program is in addition to the 20,000 metres of drilling completed by the company since it went public in April 2022, and the more than 60,000 metres of historical drilling on the property by previous operators. Approximately 10,000 metres of drilling have currently been budgeted to test Butiá and Fazenda do Posto.

Further drilling of these targets may happen as results warrant. Drilling of other exploration targets is anticipated in the second half of 2024 with the objective of discovering new economic gold deposits on the LDS property.