New Found Gold Grants Stock Options and Restricted and Deferred Share Units

New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) announces that the Company has granted incentive stock options, restricted share units (" RSUs ") and deferred share units (" DSUs ") of the Company as outlined below. Certain officers and employees of New Found Gold were issued incentive stock options to acquire an aggregate of 1,499,543 common shares in the capital of the Company at an exercise price of $2.37 (the " Options ") in accordance with the Company's "10% rolling" incentive stock option plan. The Options are exercisable for a 5-year term expiring August 14, 2031 and are subject to vesting provisions. The Company also granted 782,680 RSUs and 128,454 DSUs to certain officers and directors of the Company in accordance with the "5% rolling" share unit plan of the Company (the " Share Unit Plan "), with 1/3 of the RSUs vesting one year from the date of grant, and 1/3 vesting every year thereafter until fully vested, and the DSUs fully vesting on the date that is one year following the date of grant, and being redeemed after the participant's termination date pursuant to the terms of the Share Unit Plan.

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland & Labrador, Canada. The Company holds a 100% interest in its fully funded flagship asset, the Queensway Gold Project (" Queensway "), as well as the Hammerdown Gold Project, which includes the Hammerdown deposit and the Pine Cove Mill. New Found Gold is focused on bringing the Hammerdown deposit into commercial gold production in H2/26 while advancing Queensway toward Phase I production. The Company's portfolio is further strengthened by its district-scale land package at Queensway, covering more than 110 km of strike length across two highly prospective fault zones, and a strong shareholder base, including renowned mining investor and cornerstone shareholder, Eric Sprott. On June 29, 2026, the Company announced it had received conditional approval to graduate to the Toronto Stock Exchange. The stock symbol "NFGC" has been reserved for use by the Company upon listing on the TSX, to align with its stock symbol on the NYSE American LLC.