Mr. Keith Boyle reports

NEW FOUND GOLD GRANTS STOCK OPTIONS AND RESTRICTED SHARE UNITS

New Found Gold Corp. has granted incentive stock options to certain directors, officers and employees of New Found Gold to acquire an aggregate of 809,167 common shares in the capital of the company at an exercise price of $2.97 in accordance with the company's 10-per-cent rolling incentive stock option plan. The options are exercisable for a five-year term expiring Sept. 25, 2030, and subject to vesting provisions.

The company also granted 2,053,000 restricted share units to certain directors and officers of the company in accordance with the 5-per-cent rolling share unit plan of the company, with one-third vesting one year from the date of grant and one-third vesting every year thereafter until fully vested.

Qualified person

The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, PGeo, president, a qualified person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

About New Found Gold Corp.

New Found Gold is a well-financed advanced-stage exploration company that 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 a preliminary economic assessment at Queensway (see New Found Gold news release dated 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 project that covers a 110-kilometre strike extent along two prospective fault zones.

On Sept. 5, 2025, the company announced it had entered into a definitive agreement with Maritime Resources Corp. to acquire all of the outstanding and issued shares that it does not already own (see news release dated Sept. 5, 2025). On Sept. 8, 2025, the company announced it had entered into a property purchase agreement with Exploits Discover Corp. that would provide New Found Gold with a 100-per-cent interest in certain mineral claims in Newfoundland and Labrador held by Exploits (see news release dated Sept. 8, 2025). The claims adjoin New Found Gold's Queensway and would increase the size of the project by up to 33 per cent to a total of 234,050 hectares.

New Found Gold has a new management team in place, and a solid shareholder base, which includes an approximately 23.1-per-cent holding by Eric Sprott, and is focused on growth and value creation.

We seek Safe Harbor.