Ciao
Prova così
codice:
 Private Sub PictureBox1_Paint(sender As Object, e As System.Windows.Forms.PaintEventArgs) Handles PictureBox1.Paint
        e.Graphics.DrawString(Label1.Text, Label1.Font, Brushes.Black, New PointF(0, 0))
    End Sub
Facci sapere....
Ciao