Mr. Garett Macdonald reports

MARITIME ANNOUNCES 2025 ANNUAL GENERAL AND SPECIAL MEETING RESULTS

At the annual general and special meeting of the holders of common shares in the capital of Maritime Resources Corp. and the holders of options to purchase common shares, held earlier today, the securityholders overwhelmingly voted in favour of approving the special resolution authorizing the previously announced arrangement, whereby New Found Gold Corp. will acquire all of the issued and outstanding common shares that it does not already own by way of a statutory plan of arrangement.

At the company meeting, the special resolution approving the arrangement was approved by 99.68 per cent of the shareholders and 99.69 per cent of the securityholders voting as a single class. A total of 90,543,324 common shares were voted at the company meeting, representing approximately 73 per cent of the issued and outstanding common shares as of the record date of Sept. 23, 2025. A total of 3,146,280 options were voted at the company meeting, representing approximately 95.30 per cent of the issued and outstanding options as of the record date of Sept. 23, 2025.

Pursuant to the plan of arrangement, shareholders will receive 0.75 of a common share in the capital of New Found Gold for each common share held, each outstanding option will be cancelled and exchanged for a replacement option to acquire New Found Gold shares and all outstanding Maritime warrants will become exercisable for New Found Gold shares, each as further described in the management information circular dated Oct. 1, 2025.

Assuming that all remaining approvals are obtained and all other remaining conditions precedent to the completion of the arrangement are satisfied or waived, the company anticipates that the arrangement will be completed in mid-November, 2025. Completion of the arrangement remains subject to, among other things, satisfaction of all conditions precedent to the completion of the arrangement, including the final approval of the Supreme Court of British Columbia. The hearing for the final order of the court to approve the arrangement is scheduled to take place on Nov. 7, 2025. Further details regarding the arrangement are set out in the circular, which is available under the company's issuer profile on SEDAR+.

At the company meeting, the shareholders also elected Matthew Goodman, John Hayes, Garett Macdonald, Nick Nikolakakis, Allen Palmiere and Tom Yip as directors of the company for the forthcoming year, approved the reappointment of Davidson & Company LLP, chartered accountants, as the auditors of the company for the fiscal year ending Dec. 31, 2025, and authorized the directors of the company to fix its remuneration, and reapproved and readopted the omnibus equity incentive plan of the company.

About Maritime Resources Corp.

Maritime is a gold exploration and development company focused on advancing Hammerdown gold project in the Baie Verte district of Newfoundland and Labrador, Canada, a Tier 1 jurisdiction. Maritime holds a 100-per-cent interest directly and subject to option agreements entitling it to earn a 100-per-cent ownership in the Green Bay property, which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 square kilometres of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond hydrometallurgical gold plant gold circuit.

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