Mr. Keith Boyle reports

NEW FOUND GOLD CONTINUES TO STRENGTHEN MANAGEMENT TEAM

New Found Gold Corp. has appointed Dr. Fiona Childe (PhD, PGeo) as vice-president, communications and corporate development, Dr. Jared Saunders (PhD, CRSP, EP) as vice-president, sustainability, and Robert Assabgui (PEng) as study manager. All appointments are effective immediately.

Keith Boyle, chief executive officer of New Found, stated: "On behalf of the board, I am excited to welcome Fiona and Robert to the New Found team and congratulate Jared on his promotion. We have a lot planned for the coming year, beginning with the release of a maiden mineral resource estimate for the Queensway project in early Q2/25 and a preliminary economic assessment later in Q2/25. Fiona, Jared and Robert will each play an instrumental role with the company as we achieve these and future milestones.

"As vice-president, communications and corporate development, Fiona brings a wealth of technical and corporate knowledge to the company. She will leverage her extensive experience and industry network to help grow New Found. Jared, a proud Newfoundlander, has over a decade of experience in Newfoundland and Labrador, including as director of environment and regulatory affairs with New Found since 2023. Jared's background and experience make him uniquely qualified to step into the new role of vice-president, sustainability, a role which aligns with our commitment to and focus on the environment and sustainability. Robert begins at a pivotal time, as we advance towards the release of the first economic assessment of the Queensway project," continued Mr. Boyle.

In addition, Greg Matheson, chief operating officer, has resigned, effective Feb. 28, 2025. While stepping down from his current role, Mr. Matheson will continue to support the company as an adviser.

"We sincerely thank Greg for his dedication and contributions over the past years. Greg has been instrumental in leading the Queensway project since 2018, playing a key role in its discovery, advancement and success. His expertise and leadership will remain valuable as we navigate this period, and we appreciate his willingness to support us as an advisor, ensuring a smooth transition," remarked Mr. Boyle.

Lastly, Ron Hampton, chief development officer, will step down effective immediately. The company thanks Mr. Hampton for his contributions and wishes him well in his future endeavours.

Dr. Fiona Childe

Vice-president, communications and corporate development

Dr. Childe (PhD, PGeo) has over 25 years of experience in the mining industry, starting as an exploration geologist and subsequently focusing on capital markets, corporate development and shareholders communications. Throughout her career she has consulted to and held senior management positions with Canadian-listed exploration, development and mining companies, with a primary focus on gold. She has worked on projects throughout Canada, the Caribbean, Latin America, Africa, Asia and Australia. She recently consulted to Mineros S.A. through its successful IPO on the Toronto Stock Exchange (TSX) and previously served as vice-president, corporate communications, at Tau Capital Corp. through the acquisition of AfriOre Ltd. by Lonmin PLC. She completed the first PhD in geology with the mineral deposit research unit at the University of British Colombia and is a PGeo (Ontario).

Dr. Jared Saunders

Vice-president, sustainability

Dr. Saunders (PhD, CRSP, EP) has over two decades of experience in environmental sciences and chemistry, backed by a PhD in environmental sciences from the Royal Military College of Canada. His distinguished career began in the Canadian Military, providing a strong foundation for his subsequent transition to the consulting sector. As a senior environmental scientist with a leading global sustainable engineering, architecture and environmental consulting firm Dr. Sanders led projects in environmental risk assessment and contaminated site management. Over a decade ago, Dr. Saunders returned to his Newfoundland and Labrador roots and joined Vale Newfoundland and Labrador, managing the environmental departments for Long Harbour and Voisey's Bay. In 2023, Dr. Saunders joined New Found as director of environment and regulatory affairs, overseeing environmental permitting, compliance, baseline studies and regulatory processes. Dr. Saunders is dedicated to implementing top environment, social and governance practices, and building positive and transparent relationships with team members, local and indigenous communities, regulators, and stakeholders.

Robert Assabgui

Study manager

Mr. Assabgui (BEng, PEng) is an accomplished senior operations executive and manager with expertise in project management and engineering within the mining industry. He has worked in a variety of roles in engineering, operations, project delivery and executive management. Mr. Assabgui started his career at Inco Ltd. (subsequently Vale Canada Ltd.) and progressed to the director of mines, accountable for six mines, the concentrator and the mines technical services department. In 2017, Mr. Assabgui joined Hudbay Minerals Inc. as vice-president of technical services, and subsequently vice-president of the Manitoba business unit. He successfully positioned the business unit to transition the Snow Lake operations into a primary gold producer, with the refurbishment and start up of the New Britannia gold mill, and the closure of the Flin Flon operations. He was more recently study manager for Reunion Gold Corp. at the Oko West project up to its acquisition by G Mining Ventures Corp. in 2024.

About New Found Gold Corp.

New Found holds a 100-per-cent interest in the Queensway project, located 15 kilometres west of Gander, Nfld., and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high-voltage electric power lines running through the project area, and easy access to a highly skilled work force. The company is currently undertaking a 650,000-metre drill program at Queensway.

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