Mr. Keith Boyle reports

NEW FOUND GOLD ANNOUNCES TEMPORARY SUSPENSION OF HEAVY EQUIPMENT EXPLORATION ACTIVITIES ON THE QUEENSWAY GOLD PROJECT IN RESPONSE TO FOREST FIRE RISK IN THE REGION

New Found Gold Corp. has temporarily suspended all exploration activities involving heavy equipment in or near forested areas, including, drilling, mulching and excavating, on the company's 100-per-cent-owned Queensway gold project, located in Newfoundland and Labrador, Canada, in response to the forest fire risk in the region.

Keith Boyle, chief executive officer, commented: "The fire weather index across the island of Newfoundland is classified as extreme or very high, with several major fires burning. At this time, our thoughts are with our employees and contractors, our local communities, and the people of Newfoundland and Labrador. On behalf of the entire New Found Gold team, I send our sincere thanks to the firefighters who are working tirelessly to battle the blazes currently burning in the province."

The company expects to provide additional information when available.

About New Found Gold Corp.

New Found Gold holds a 100-per-cent interest in Queensway, located in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local work force.

The company has completed an initial MRE (mineral resource estimate) and PEA (preliminary economic assessument) at Queensway (see New Found Gold's news releases dated March 24, 2025, and 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 175,450-hectare project that covers a 110-kilometre strike extent along two prospective fault zones.

New Found Gold has a new management team in place, a solid shareholder base, which includes a 19-per-cent holding by Eric Sprott, and is focused on growth and value creation at Queensway.

We seek Safe Harbor.