Lavras Gold Corp. Announces $10 million Public Offering

TORONTO, Jan. 21, 2026 - Lavras Gold Corp. (TSX-V:LGC, OTCQX:LGCFF) ("Lavras Gold" or the "Company") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, an aggregate of 2,942,000 common shares of the Company (the "Shares") at a price of C$3.40 per Share (the "Offering Price") for aggregate gross proceeds to the Company of approximately C$10,002,800 (the "Offering").

The Company has granted the Underwriters an option (the "Over-Allotment Option") to purchase up to an additional 441,300 Shares at the Offering Price, exercisable at any time, for a period of 30 days after and including the Closing Date, which, if exercised in full, would result in additional gross proceeds of approximately C$1,500,420.

The Company intends to use the net proceeds of the Offering for project development, exploration and resource drilling and general corporate purposes.

The Shares will be offered by way of a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated November 26, 2024 (the "Base Shelf Prospectus") to be filed in all provinces of Canada, other than Quebec. The Prospectus Supplement contains important information about the Offering. The Shares may also be offered by way of private placement in the United States and in offshore jurisdictions as agreed between the Company and the Underwriters.

The Offering is expected to close on or before January 29, 2026, or such other date as agreed between the Company and the Underwriters and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange.

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendments thereto is provided in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to such documents. The Base Shelf Prospectus is, and the Prospectus Supplement will be filed and available under the Company's profile on SEDAR+ at www.sedarplus.ca within two (2) business days. Alternatively, an electronic or paper copy of the Prospectus Supplement, the corresponding Base Shelf Prospectus and any amendment to the documents may be obtained without charge upon request by contacting the Chief Financial Officer of the Company, at Suite 200, 82 Richmond Street East, Toronto, Ontario M5C 1P1 or Canaccord Genuity at ecm@cgf.com (416.869.3052) by providing the contact with an email address or address as applicable. Prospective investors should read the Base Shelf Prospectus and Prospectus Supplement and the documents incorporated by reference therein, as filed by the Company on SEDAR+ at www.sedarplus.ca, before making an investment decision.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Lavras Gold Corp.

Lavras Gold Corp. (TSXV: LGC, OTCQX: LGCFF) is a Canadian exploration company focused on realizing the potential of its LDS Project situated in a highly prospective gold district in southern Brazil. The LDS Project is located near the town of Lavras do Sul in Rio Grande do Sul, in Rio Grande do Sul State of Brazil and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the LDS Project properties, which span more than 23,000 hectares. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and YouTube.

On Behalf of Lavras Gold Corp.

"Hemdat Sawh"

Interim President & CEO, and CFO

For further information, please visit the Lavras Gold Corp. website at www.lavrasgold.com, or contact:

Hemdat Sawh, Interim President & CEO, and CFO
Phone: +1-289-624-1375
Email: investor@lavrasgold.com
Website: www.lavrasgold.com
X (Twitter): @LavrasGold
LinkedIn: https://www.linkedin.com/company/lavras-gold-corp

Disclaimer: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties, including regarding the closing of the Offering, the use of proceeds of the Offering, and receipt of all necessary approvals. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.