<SEC-DOCUMENT>0001279569-25-000391.txt : 20250416
<SEC-HEADER>0001279569-25-000391.hdr.sgml : 20250416
<ACCEPTANCE-DATETIME>20250415203542
ACCESSION NUMBER:		0001279569-25-000391
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20250415
FILED AS OF DATE:		20250416
DATE AS OF CHANGE:		20250415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Found Gold Corp.
		CENTRAL INDEX KEY:			0001840616
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39966
		FILM NUMBER:		25841010

	BUSINESS ADDRESS:	
		STREET 1:		555 BURRARD STREET P.O. BOX 272
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7X 1M8
		BUSINESS PHONE:		845-535-1486

	MAIL ADDRESS:	
		STREET 1:		555 BURRARD STREET P.O. BOX 272
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7X 1M8
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>newfoundgold6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16 UNDER THE <BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the month of <B>April</B>  <B>2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Commission File Number: <B>001-39966</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 24pt"><B>New Found Gold Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="background-color: white">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>1055 West Georgia Street, Suite 2129 <BR>
Vancouver,
    British Columbia <BR>
V6E 3P3 Canada</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive office)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Form 20-F <FONT STYLE="font-family: Wingdings">o</FONT>
Form 40-F <FONT STYLE="font-family: Wingdings">&#254;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><B><BR>
EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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  <TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 60px">&nbsp;</TD>
    <TD STYLE="width: 1335px">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid; text-align: center"><B>Exhibit</B></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: black 0.75pt solid"><B>Description</B></P></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex991.htm">99.1</A></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex991.htm">Press
    Release dated April 15, 2025 - New Found Gold Corp. Provides Queensway Gold Project Overview and Plans; Files Technical Report</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><B>NEW FOUND GOLD CORP.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(Registrant)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">Date:</TD>
    <TD STYLE="width: 26%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">April 15, 2025</TD>
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="width: 47%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><I>/s/ Keith Boyle</I></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Keith Boyle</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Chief Executive Officer</TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED APRIL 15, 2025
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<P STYLE="text-align: right; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>EXHIBIT 99.1</B></FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<IMG SRC="logo.jpg" ALT=""></FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>New Found Gold Corp. Provides Queensway Gold Project
</B></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Overview and Plans; Files Technical Report</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Vancouver, BC, April 15, 2025 <B>- New Found Gold Corp.
</B>(&ldquo;<B>New Found Gold</B>&rdquo; or the &ldquo;<B>Company</B>&rdquo;) (TSX-V: NFG, NYSE-A: NFGC) is pleased provide an overview
of, and plans for, the Queensway Gold Project (&ldquo;<B>Queensway</B>&rdquo; or the &ldquo;<B>Project</B>&rdquo;) and has filed the technical
report for the initial mineral resource estimate (&ldquo;<B>MRE</B>&rdquo;) for the Project (the &ldquo;<B>Technical Report</B>&rdquo;).</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Queensway Highlights:</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Tier 1 Jurisdiction:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Mining-positive government, access to highway,
port, airport, low-cost green power and skilled local workforce</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Initial Mineral Resource Estimate: </B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">70% of the initial MRE ounces are in the indicated
category</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">18.0&nbsp;Mt<FONT STYLE="font-size: 11pt; line-height: 107%"><SUP>[1]</SUP></FONT>
grading 2.40&nbsp;g/t Au<FONT STYLE="font-size: 11pt; line-height: 107%"><SUP>[2]</SUP></FONT>, for 1.39&nbsp;Moz<FONT STYLE="font-size: 11pt; line-height: 107%"><SUP>[3]</SUP></FONT>
(indicated)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10.7&nbsp;Mt grading 1.77&nbsp;g/t Au, for 0.61&nbsp;Moz
(inferred)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>High-Grade Veins Exposed at Surface:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">73% of the ounces are contained in 24% of the
tonnage (indicated) within the Mineral Resource pit shells</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The opportunity for high-grade starter pits is
being investigated as part of the preliminary economic assessment (&ldquo;<B>PEA</B>&rdquo;) currently underway and scheduled for release
in late Q2/25</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Planning to commence bulk sampling H1/26</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Versatile Deposit:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Mineral Resources are defined within a series
of open pits, which creates flexibility with respect to mine planning, grade sequencing and tailings deposition strategies</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The potential to leverage in-pit tailings storage
is being investigated as part of the PEA</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Project Growth:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Infill:</B> the initial MRE has potential for
expansion between and within the initial MRE pit shells</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Expansion</B>: recently announced high-grade
gold intersections beyond the initial MRE footprint demonstrates that gold mineralization remains open for expansion both along strike
and at depth; past drilling focussed within 200&nbsp;m of surface in a less than 5% portion of the 110&nbsp;km long strike extent of the
two major structures controlling gold mineralization</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Keith Boyle, CEO of New Found Gold commented: &ldquo;New
Found Gold has begun a new chapter, with an initial mineral resource completed in Q1/25 and a preliminary economic assessment scheduled
for completion in late Q2/25. As a mining engineer with 40 years of experience in development and operations, much of which was spent
working on projects with parallels to Queensway, I can see the unique opportunity we have at New Found Gold. We are rapidly advancing
with the PEA, while at the same time continuing to explore our highly prospective landholdings targeting additional discoveries similar
to Keats and Iceberg.&rdquo;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">__________________________</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 10pt; line-height: 107%"><SUP>&nbsp;</SUP></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt; line-height: 107%"><SUP>1</SUP></FONT> <FONT STYLE="font-size: 8pt">Mt
= million tonnes</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt; line-height: 107%"><SUP>2</SUP></FONT> <FONT STYLE="font-size: 8pt">g/t
Au = grams of gold per tonne</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-size: 8pt; line-height: 107%"><SUP>3</SUP></FONT> <FONT STYLE="font-size: 8pt">Moz
= million ounces</FONT></P>


<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">New Found Gold Corp.</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">TSX-V: NFG, NYSE-A: NFGC</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">New Found Gold&rsquo;s current Corporate Presentation can be viewed in 3D
on the Company&rsquo;s website or using VRIFY at: <B>https://vrify.com/decks/18603</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Looking Ahead:</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Fully Funded PEA Underway:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Planned release late Q2/25</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>2025 Drill Campaign:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Planning underway for mid Q2/25 start</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Primary focus on resource conversion (infill,
expansion, extensions)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Secondary focus on exploration (discovery of additional
major deposits along the 110&nbsp;km long strike extent of the Project)</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Bulk Sample:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">To confirm grade continuity and validate resource
model</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Planning underway to commence H1/26</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Metallurgy:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Additional test work is ongoing</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Permitting and Environmental Baseline Studies:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Work is ongoing to support future studies and
permit applications</FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Technical Report and Initial MRE:</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Technical Report was prepared by SLR Consulting
(Canada) Ltd. (&ldquo;<B>SLR</B>&rdquo;) in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (&ldquo;<B>CIM</B>&rdquo;)
Definition Standards and Canadian National Instrument 43-101 (&ldquo;<B>NI 43-101</B>&rdquo;) and filed under the Company&rsquo;s profile
on SEDAR+ at www.sedarplus.ca. SLR is independent of New Found Gold.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The following is the current Mineral Resource Estimate
as at March 15, 2025 (the &ldquo;<B>Effective Date</B>&rdquo;) as announced in the New Found Gold news release dated March 24, 2025.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><I>Table 1: MRE Summary (as at the Effective Date)
</I></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #E7E6E6">
    <TD STYLE="width: 1%; border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Zone</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Category</B></FONT></TD>
    <TD STYLE="width: 1%; border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Tonnage</B></P>
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>(Mt)</B></P></TD>
    <TD STYLE="width: 1%; border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Grade</B></P>
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>(g/t Au)</B></P></TD>
    <TD STYLE="width: 1%; border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Contained Metal</B></P>
    <P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>(Moz Au)</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Open Pit</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicated</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">17.3</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.25</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.25</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inferred</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.24</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.36</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Underground</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicated</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.8</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.76</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.14</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inferred</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.7</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.44</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.25</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Indicated</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">18.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.40</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.39 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inferred</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10.7</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.77</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.61 </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Notes:</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>1.</I></TD><TD STYLE="text-align: justify"><I>CIM (2014) definitions were followed for Mineral Resources.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>2.</I></TD><TD STYLE="text-align: justify"><I>Mineral Resources are estimated using a long-term gold price of US$2,200 per ounce, and a US$/C$ exchange
rate of US$1.00 = C$1.43. </I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>3.</I></TD><TD STYLE="text-align: justify"><I>Open pit Mineral Resources are estimated at a cut-off grade of 0.3&nbsp;g/t Au and constrained by a
preliminary optimized pit shell with a pit slope angle of 45&deg;, and bench height of 5 m. </I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>4.</I></TD><TD STYLE="text-align: justify"><I>RPEEE (as defined below) for underground Mineral Resources was demonstrated by constraining within
reporting panels generated at a cut-off grade of 1.65 g/t Au, with heights (H) of 10&nbsp;m, lengths (L) of 5&nbsp;m and minimum widths
of 1.8&nbsp;m.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>5.</I></TD><TD STYLE="text-align: justify"><I>The optimized pit shell, underground reporting shapes, and cut-off grades were generated by assuming
metallurgical recovery of 90%, standard treatment and refining charges, mining costs of C$5.0/t moved for open pit and C$120/t processed
for underground, processing costs of C$20/t processed, and general and administrative costs of C$7.5/t processed. </I></TD></TR></TABLE>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">New Found Gold Corp.</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">TSX-V: NFG, NYSE-A: NFGC</TD></TR></TABLE></DIV>
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    <!-- Field: /Page -->

<P STYLE="font: 9pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><I>&nbsp;</I></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>6.</I></TD><TD STYLE="text-align: justify"><I>Pierre Landry, P.Geo. of SLR, an independent Qualified Person who prepared the initial MRE is not aware
of any environmental, permitting, legal, title, taxation, socio-economic, marketing, political, or other relevant factors that could materially
affect the Mineral Resource estimate.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>7.</I></TD><TD STYLE="text-align: justify"><I>Bulk density within the vein and halo mineralization domains is 2.7&nbsp;t/m&sup3;.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>8.</I></TD><TD STYLE="text-align: justify"><I>Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.</I></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 18pt"><I>9.</I></TD><TD STYLE="text-align: justify"><I>Numbers may not add due to rounding.</I></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Grade-Tonnage by Cut-off Grade:</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Table 2a and 2b show the variation in tonnes and grades
at various gold cut-off grades (&ldquo;<B>COG</B>&rdquo;) within the AFZ Core resource pit shell. At a cut-off grade of 2&nbsp;g/t Au
and within the resource pit shell, the Indicated Mineral Resource blocks total 3,854&nbsp;thousand tonnes (&ldquo;<B>kt</B>&rdquo;) at
a grade of 7.16&nbsp;g/t Au for 887&nbsp;thousand ounces (&ldquo;<B>koz</B>&rdquo;) and the Inferred Mineral Resource blocks total 993&nbsp;kt
at a grade of 4.16&nbsp;g/t Au for 133&nbsp;koz. This represents 73% of the contained ounces in only 24% of the tonnage for the indicated
category only.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The opportunity for high-grade starter pits is being
investigated as part of the PEA.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-indent: -72pt"><I>Table 2a: AFZ Core Open Pit Indicated
Grade-Tonnage Table (as at the Effective Date)</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #E7E6E6">
    <TD COLSPAN="4" STYLE="border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Indicated</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 1%; border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>COG (g/t)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Tonnage (kt)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Au Grade (g/t)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Au Metal (koz)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>0.3</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>16,189</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>2.34</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>1,219</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.4</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">14,197</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.62</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,197</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.5</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,584</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.90</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,174</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,699</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.29</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,061</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.5</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,248</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5.72</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">964</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,854</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7.16</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">887</FONT></TD></TR>
  </TABLE>
<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-indent: -72pt"><I>&nbsp;</I></P>

<P STYLE="font: bold 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 72pt; text-indent: -72pt"><I>Table 2b: AFZ Core Open Pit Inferred
Grade-Tonnage Table (as at the Effective Date)</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: #E7E6E6">
    <TD COLSPAN="4" STYLE="border-top: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; border-bottom: #C9C9C9 1.5pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Inferred</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #F2F2F2">
    <TD STYLE="width: 1%; border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>COG (g/t)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Tonnage (kt)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Au Grade (g/t)</B></FONT></TD>
    <TD STYLE="width: 1%; border-bottom: #DBDBDB 1pt solid; border-right: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Au Metal (koz)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>0.3</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>8,280</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>1.21</B></FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>323</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.4</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,103</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.36</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">310</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">0.5</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,130</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.50</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">296</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,068</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.29</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">226</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.5</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,709</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3.14</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">173</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; border-left: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2.0</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">993</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4.16</FONT></TD>
    <TD STYLE="border-right: #DBDBDB 1pt solid; border-bottom: #DBDBDB 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">133</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Data Verification </B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The data used in this Mineral Resource Estimate is
supported by Quality Assurance and Quality Control (&ldquo;QA/QC&rdquo;) procedures, such as the insertion of certified standards and
blanks into the sample stream and the utilization of certified independent analytical laboratories for all assays. The QA/QC data and
methodology on the project were reviewed and will be summarized in the NI 43-101 technical report.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Pierre Landry, P.Geo. of SLR, an independent Qualified
Person in accordance with the requirements of NI 43-101, has reviewed the adequacy of sample preparation, security, and analytical procedures
conducted by New Found Gold from the start of the Queensway exploration programs in 2019 through to the Effective Date. This review found
no material issues or inconsistencies that could adversely affect the quality or reliability of the data. The QP is of the opinion that:</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">New Found Gold Corp.</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">TSX-V: NFG, NYSE-A: NFGC</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;<IMG SRC="logo.jpg" ALT=""></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">NFG&rsquo;s sample preparation procedures are appropriate for the deposit
type and mineralization style.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Analytical methods used, including fire assay, photon assay, and screen fire
assay, are suitable for determining gold grades in the Project.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The QA/QC program, which includes CRMs, blanks, and duplicates, is well-structured,
meets industry standards, and provides confidence in the assay data.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 18pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Sample security measures and chain of custody protocols are sufficient to
ensure the integrity of the data. </FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 36pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Overall, Pierre Landry, P.Geo. of SLR, an independent
Qualified Person in accordance with the requirements of NI 43-101, is of the opinion that NFG&rsquo;s sampling, analytical methods, and
QA/QC program meet industry standards and are suitable for use in the Mineral Resource estimate.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Data verification for the drill hole database included
comparing gold assay values used to support the Mineral Resource estimate against the original analytical certificates from ALS and MSALABS,
the primary laboratories used by NFG between 2019 and 2024. The review covered a variety of assay methods including: fire assay with AAS
or gravimetric finish, photon assay, and screen fire assay.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">SLR found no material discrepancies identified that
would impact the validity of the Mineral Resource estimate. SLR&rsquo;s QP is of the opinion that the verification process confirms the
reliability of the assay database, ensuring its suitability for use for Mineral Resource estimation.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">In accordance with NI 43-101, Pierre Landry, P.Geo.,
of SLR, conducted a site visit to the Project and related facilities on October 24 and 25, 2024. During this visit, he inspected the Keats
and Iceberg trenches, the core shack, and reviewed the logging environment and procedures for data collection and sampling. He also examined
core samples from the AFZ Core, AFZ Peripheral, and JBP deposits. In addition, he interviewed NFG&rsquo;s personnel and gathered information
necessary for completing the Mineral Resource estimate and accompanying Technical Report.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Mr. Landry also inspected drill collars and drill hole
cores relevant to the Mineral Resource estimation, verifying collar locations using a handheld GPS and visually comparing mineralization
with interpreted drilling sections. NFG provided full access to all facilities and personnel during the visit. Mr. Landry was accompanied
by Melissa Render, President of NFG.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Qualified Person </B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">The initial MRE for Queensway
was prepared by Pierre Landry, P.Geo. of SLR, an independent Qualified Person in accordance with the requirements of NI 43-101, who has
reviewed and approved the contents of this news release.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: white">The scientific and technical
information disclosed in this press release was reviewed and approved by Melissa Render, P.Geo., President, and a Qualified Person as
defined under NI 43-101. Ms. Render consents to the publication of this press release dated March 24, 2025, 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.</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">New Found Gold Corp.</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">TSX-V: NFG, NYSE-A: NFGC</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;<IMG SRC="logo.jpg" ALT=""></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About New Found Gold</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">New Found&nbsp;Gold holds a 100% interest in Queensway,
located&nbsp;in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company has completed an initial mineral resource
estimate at Queensway (see New Found Gold news release dated March 24, 2025). A fully funded preliminary economic assessment is underway,
with completion scheduled for late Q2/25.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Recent drilling continues to yield new discoveries
along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare project that covers a 110
km strike extent along two prospective fault zones.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">New Found Gold has a new management team in place,
a solid shareholder base, which includes an 19% holding by Eric Sprott, and is focused on growth and value creation at Queensway.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Please see the Company&rsquo;s website at www.newfoundgold.ca
and the Company&rsquo;s SEDAR+ profile at&nbsp;www.sedarplus.ca.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Keith Boyle</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Chief Executive Officer</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">New Found Gold Corp.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Contact</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">For further information on New Found Gold, please visit
the Company&rsquo;s website at <FONT STYLE="color: #0563C1"><U>www.newfoundgold.ca</U></FONT>, contact us through our investor inquiry
form at https://newfoundgold.ca/contact/ or contact:</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Fiona Childe, Ph.D., P.Geo.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Vice President, Communications and Corporate Development</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Phone: +1 (416) 910-4653</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Email: contact@newfoundgold.ca</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Follow us on social media at</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">https://www.linkedin.com/company/newfound-gold-corp</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">https://x.com/newfoundgold</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Forward-Looking Statement Cautions </B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">This press release contains certain &ldquo;forward-looking
statements&rdquo; within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the Queensway
Project; the preparation, timing and completion of the preliminary economic assessment; the opportunity for high-grade starter pits; the
advancement of Queensway; the initial MRE; growth potential; the versatility of the deposit; plans for future exploration and drilling
and the timing thereof; additional metallurgical testwork; the jurisdiction of the Queensway Project; and the merits of the Queensway
Project.</P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">New Found Gold Corp.</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">TSX-V: NFG, NYSE-A: NFGC</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%">&nbsp;<IMG SRC="logo.jpg" ALT=""></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/107% Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Although the Company believes that such statements
are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that
are not historical facts; they are generally, but not always, identified by the words &ldquo;expects&rdquo;, &ldquo;plans&rdquo;, &ldquo;anticipates&rdquo;,
&ldquo;believes&rdquo;, &ldquo;interpreted&rdquo;, &ldquo;intends&rdquo;, &ldquo;estimates&rdquo;, &ldquo;projects&rdquo;, &ldquo;aims&rdquo;,
&ldquo;suggests&rdquo;, &ldquo;indicate&rdquo;, &ldquo;often&rdquo;, &ldquo;target&rdquo;, &ldquo;future&rdquo;, &ldquo;likely&rdquo;,
&ldquo;encouraging&rdquo;, &ldquo;pending&rdquo;, &ldquo;scheduled&rdquo;, &ldquo;potential&rdquo;, &ldquo;goal&rdquo;, &ldquo;objective&rdquo;,
&ldquo;opportunity&rdquo;, &ldquo;prospective&rdquo;, &ldquo;possibly&rdquo;, &ldquo;preliminary&rdquo;, and similar expressions, or
that events or conditions &ldquo;will&rdquo;, &ldquo;would&rdquo;, &ldquo;may&rdquo;, &ldquo;can&rdquo;, &ldquo;could&rdquo; or &ldquo;should&rdquo;
occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements
are based on the beliefs, estimates and opinions of the Company&rsquo;s management on the date the statements are made, and they involve
a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable
securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements
if management&rsquo;s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking statements include risks associated with the Company&rsquo;s ability to complete
the preliminary economic assessment, the results and timing of the preliminary economic assessment, possible accidents and other risks
associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated
with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permitting
and other governmental clearances necessary to carry out the Company&rsquo;s exploration plans, the risk that the Company will not be
able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes
that might interfere with the Company&rsquo;s business and prospects. The reader is urged to refer to the Company&rsquo;s Annual Information
Form and Management&rsquo;s Discussion and Analysis, publicly available through the Canadian Securities Administrators&rsquo; System
for Electronic Document Analysis and Retrieval (SEDAR+) at&nbsp;www.sedarplus.ca for a more complete discussion of such risk factors
and their potential effects.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>






<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%"><P STYLE="margin: 0; font: 10pt/107% Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">New
                                            Found Gold Corp.</FONT></P></TD><TD STYLE="text-align: center; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></FONT></TD><TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif">TSX-V:
                                            NFG, NYSE-A: NFGC</FONT></TD></TR>
</TABLE>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
