Mr. Keith Boyle reports

NEW FOUND GOLD RECEIVES CONDITIONAL APPROVAL TO GRADUATE TO THE TORONTO STOCK EXCHANGE

New Found Gold Corp. has received conditional approval to list its common shares on the Toronto Stock Exchange and graduate from the TSX Venture Exchange. Final approval of the listing is subject to the company fulfilling all of the requirements of the TSX, including receipt of all required documentation on or before Sept. 14, 2026.

"Conditional approval to list on the TSX marks an important corporate milestone," stated Keith Boyle, chief executive officer of New Found Gold. "As we move toward commercial production at our Hammerdown gold project and continue to advance our fully funded phase 1 development at our flagship Queensway gold project, we believe this graduation will provide greater visibility, liquidity and an expanded capital markets presence, supporting our objective of building a leading Canadian gold mining company as we continue to create value for New Found Gold shareholders."

The stock symbol NFGC has been reserved for use by the company upon listing on the TSX, to align with its stock symbol on the NYSE American LLC. The company will issue a press release once the TSX confirms the date on which trading of New Found Gold's common shares under the stock symbol NFGC is expected to commence on the TSX.

Concurrently with the graduation to the TSX, the company's common shares will be delisted from the TSX-V. Shareholders are not required to exchange their share certificates or take any other action in connection with the TSX listing, as there will be no change in the Cusip for the common shares.

About New Found Gold Corp.

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The company holds a 100-per-cent interest in its fully financed flagship Queensway gold project and the Hammerdown gold project, which includes the Hammerdown deposit as well as milling and tailings facilities at Pine Cove. New Found Gold is focused on bringing the Hammerdown deposit into commercial gold production in H2 2026 while advancing its flagship Queensway toward phase I production.

The company's portfolio is further strengthened by its district-scale land package at Queensway, covering more than 110 kilometres of strike length across two highly prospective faults zones, and a strong shareholder base, including renowned mining investor and cornerstone shareholder, Eric Sprott, PEng, chief executive officer, New Found Gold.

Qualified person

The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, PEng, CEO, and a qualified person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

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