Mr. Keith Boyle reports

NEW FOUND GOLD FILES THIRD QUARTER 2025 FINANCIAL STATEMENTS; GRANTS STOCK OPTIONS AND RESTRICTED SHARE UNITS

New Found Gold Corp. has filed its quarterly financial statements for the quarter ended Sept. 30, 2025, and the related management discussion and analysis.

The Q3 documents are available under the company's profile on SEDAR+ and the Form 40-F is available under the EDGAR system of the SEC (U.S. Securities and Exchange Commission). New Found Gold's financial disclosure documents are also available on the company's website.

The company has granted incentive stock options to certain officers and employees of New Found Gold to acquire an aggregate of 66,944 common shares in the capital of the company at an exercise price of $2.70 in accordance with the company's 10-per-cent rolling incentive stock option plan. The options are exercisable for a five-year term expiring Nov. 6, 2030, and are subject to vesting provisions.

The company also granted 41,348 restricted share units to certain officers of the company in accordance with the 5-per-cent rolling share unit plan of the company, with one-third vesting one year from the date of grant and one-third vesting every year thereafter until fully vested.

About New Found Gold Corp.

New Found Gold is a well-financed, advanced-stage exploration company that holds a 100-per-cent interest in the Queensway gold project, located in Newfoundland and Labrador, Canada, a Tier 1 jurisdiction with excellent infrastructure and a skilled local work force.

The company has completed a PEA (preliminary economic assessment) at Queensway (see New Found Gold news release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and downdip of known gold zones, pointing to the district-scale potential of the project that covers a greater-than-110-kilometre strike extent along two prospective fault zones.

On Sept. 5, 2025, the company announced it had entered into a definitive arrangement agreement with Maritime Resources Corp. to acquire all of the outstanding and issued shares that it does not already own and, on Nov. 5, 2025, announced the overwhelming approval of the arrangement at Maritime's annual general and special meeting (see news releases dated Sept. 5, 2025, and Nov. 5, 2025).

On Sept. 8, 2025, the company announced it had entered into a property purchase agreement with Exploits Discovery Corp. that would provide New Found Gold with a 100-per-cent interest in certain mineral claims in Newfoundland and Labrador held by Exploits (see news release dated Sept. 8, 2025). The claims adjoin Queensway and would increase the size of Queensway by up to 33 per cent to a total of 234,050 hectares.

New Found Gold has a new management team in place, a strong treasury and a solid shareholder base (which includes cornerstone investor Eric Sprott) and is focused on growth and value creation.

Qualified person

The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, PGeo, president, and a qualified person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render 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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