Toronto, Ontario--(Newsfile Corp. - October 17, 2024) - Rostislav Raykov, a director of Lavras Gold Corp. (the "Company"), announces that he has filed an early warning report (the "Report") regarding the acquisition ("Acquisition") of 245,600 common shares (the "Common Shares") in the capital of the Company through a transaction on October 16, 2024 through the facilities of the TSX Venture Exchange (the "TSXV").

Prior to the completion of the Acquisition, Mr. Raykov held an aggregate of 5,105,430 Common Shares and stock options entitling him to purchase up to 270,000 Common Shares, representing approximately 9.94% of the issued and outstanding Common Shares on an undiluted basis and 10.42% of the issued and outstanding Common Shares on a partially diluted basis. Upon completion of the Acquisition, Mr. Raykov held an aggregate of 5,351,030 Common Shares and stock options entitling him to purchase up to 270,000 Common Shares, representing approximately 10.42% of the then issued and outstanding Common Shares on an undiluted basis and 10.89% of the then issued and outstanding Common Shares on a partially diluted basis.

The Acquisition was completed for investment purposes. Mr. Raykov may, depending on market and other conditions, or as future circumstances may dictate, from time to time, on an individual or joint basis, increase or dispose of some or all of the existing or additional securities he holds or will hold, or may continue to hold. In the future, Mr. Raykov, will evaluate his investment in the Company from time to time and may, based on such evaluation and the market conditions and other circumstances, increase or decrease his security holdings through market transactions, private agreements, or otherwise.

For further details relating to the acquisition, please see the Report, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca, or may be requested by mail at: Rostislav Raykov c/o Lavras Gold Corp., 82 Richmond Street East, Suite 201, Toronto, ON M5C 1P1, or by email at [email protected].

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