Mr. Jeremy Prinsen reports

NEWFOUNDLAND DISCOVERY CLOSES PRIVATE PLACEMENT

Further to its news releases dated April 27, 2026 and May 4, 2026, Newfoundland Discovery Corp. has closed the non-brokered private placement for total gross proceeds of $833,424.

The company has allotted and issued 6,945,200 units at a price of 12 cents per unit. Each unit consists of one common share of the company and one transferable share purchase warrant, with each warrant entitling the holder to acquire one additional common share at an exercise price of 16 cents for a period of one year from the closing date.

The units issued pursuant to the offering are subject to a four-month-and-one-day hold period from the date of issuance under applicable Canadian securities laws. No finders' fees were paid in connection with the offering.

The company intends to use the proceeds of the offering for potential asset acquisition opportunities and general working capital.

One insider of the company subscribed for gross proceeds of $12,000. The issuance of units to the insider is considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the insider participation in the offering did not exceed 25 per cent of the fair market value of the company's market capitalization.

About Newfoundland Discovery Corp.

Newfoundland Discovery is a Canadian-listed exploration company focused on the identification, evaluation and development of high-potential mineral assets. The company actively reviews opportunities across multiple jurisdictions with a focus on precious metals and critical minerals.

We seek Safe Harbor.