The TSX Venture Exchange has accepted for filing documentation in connection with a property purchase agreement between New Found Gold Corp. and Exploits Discovery Corp., pursuant to which the company will acquire a 100-per-cent interest in certain mineral claims in Newfoundland and Labrador held by Exploits. As consideration for the claims, the company: (i) issued 2,821,556 common shares of the company to Exploits; (ii) granted to Exploits a 1-per-cent net smelter return (NSR) royalty (as defined below); and (iii) within 10 business days following a positive final determination by the Supreme Court of Newfoundland and Labrador with respect to certain disputed mineral claims, will issue 725,543 common shares of the company to Exploits. In addition, the company granted to Exploits a 1.0-per-cent net smelter return royalty on certain of the claims on the products derived from certain of the mineral licences forming part of the claims pursuant to a royalty agreement. For three years from the date of the royalty agreement, the company retains the right and option to purchase a 0.5-per-cent royalty for a price equal to $750,000.

For further details, please refer to the company's news releases dated Sept. 8, 2025, and Dec. 5, 2025.