Lavras Gold Corp. reported that follow up drilling at the Fazenda do Posto discovery on the Company's LDS Project in southern Brazil has validated the discovery reported in August 2023. The discovery has been confirmed in terms of gold grades, widths and continuity and remains open in several directions to resource expansion.

The highlight in this press release is scissor hole 23FP006 which returned assay results with continuous mineralization of 230 metres grading 0.9 g/t gold starting at 31 metres and including: 204 metres grading 1.0 g/t gold from 31 metres including: 65 metres grading 1.9 g/t gold from 149 metres; and including 10 metres grading 3.0 g/t gold From 154 metres. The Fazenda do Posto discover is located roughly 150 metres west of the Lavras Gold Butia Gold Deposit, which has an NI 43-101 gold resource of approximately 500,000 ounces and is open to expansion. Drill hole 23FP006, reported in this press release, tested the northeastern extension of Fazenda do Posto and was drilled southwest on a 200-degree azimuth and a dip of 060 degrees.

Continuous gold mineralization was encountered in 23FP006 starting at a drill hole depth of 31 metres (vertical depth of about 27 metres) for 230 metres. Table 1 tabulates the metre-by-metre assay results. A higher-grade core of gold mineralization is beginning to develop based on the limited drilling company has completed so far.

Drilling is ongoing and the company look forward to additional drill results as the company begin to unravel this new gold discovery. This discovery at Fazenda do Posto is ideally located adjacent to the 500,000 ounce Butia gold deposit that outcrops at surface, pointing to the development of a critical mass of gold mineralization in this area. Despite record rainfalls in the region that have hampered access to drilling sites and caused delays in the drilling program, the Lavras team is fast-tracking the process of defining the geometry and grade distribution of this important new discovery.

Two drill rigs are working in this target area and have completed over 3,000 metres of drilling in 14 holes since making the discovery at Fazenda do posto. Assay results will be released in meaningful batches following interpretation. Footnote: Butia hosts an NI 43-101 compliant near-surface gold resource of about 500,000 ounces, as detailed in the NI 43-101 Technical Report Mineral Resource for Butia Gold Prospect dated and effective January 25, 2022.

Assay results have been received for four drill holes that drilled a total of 1,520 metres at the Fazenda do posto discovery. This also includes results from hole 23FP002 - the discovery hole that was released on August 29, 2023. Drill hole 23FP002 (previously released discovery hole) was collared in the southwestern portion of the target area with an azimuth of north 020 and an inclined angle of 60 degrees.

The Caneleira Gold Discovery has been reinterpreted, and new gold mineral systems have been found at Zeca Souza, Galvao, Matilde, Matilde Extension, and Vila Marieta. Although Butia and Fazendo do Posto are developing into the centre of gravity at LDS, the exploration upside on the property is very significant and on-going strategies are in place to continue exploring and testing new targets. All drill hole samples in this drilling program consist of split NQ diamond drill core.