New Found Gold Corp.

Forward-Looking Information

This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the anticipated strong finish to the year at Hammerdown and the continued momentum into 2027; the taking of Queensway Gold Project to production; the availability of additional debt funds until May 15, 2027, subject to the satisfaction of certain conditions precedent; the strong positioning of operations at Hammerdown and Pine Cove for Q4/26; the expected substantial completion of the construction of the crusher and sorter in Q4/26, followed by commissioning and ramp up in Q1/27, and the anticipated reduction in crushing costs and delivery of higher-grade material once those facilities become operational; the preparation for an updated mineral resource estimate at Hammerdown in 2027; the planned conversion and expansion of Pine Cove with an anticipated completion in Q4/27 and plans for application for the permit to expand to 1,400 tpd; the anticipated life of mine run rate of 20,000 to 25,000 oz Au produced per year at an AISC of approximately US$2,500/oz Au; the planned annual guidance for Hammerdown; the expected release of the Company's third quarter 2026 financial and operating results, and the hosting of a conference call and webcast to discuss the results; and the Company's focus on advancing the Phase 1 of Queensway. 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 "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "encouraging", "pending", "potential", "goal", "objective", "opportunity", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" 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'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, the Company undertakes no obligation to update these forward-looking statements if management'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 possible accidents and other risks associated with mineral exploration operations, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.