New Found Gold Continues to Confirm Continuity of The AFZ Core and Intersect New Mineralization at Depth at The Queensway Gold Project

Vancouver, British Columbia--(Newsfile Corp. - May 4, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce further results confirming the continuity of gold mineralization in the AFZ Core from 2025 infill drilling on its 100%-owned Queensway Gold Project ("Queensway" or the "Project") in Newfoundland and Labrador, Canada. Keats West zone (“Keats West”) highlights include: 9.51 g/t Au over 19.85 m from 64.15 m (NFGC-25-2618) 3.50 g/t Au over 20.45 m from 14.00 m (NFGC-25-2616) 2.56 g/t Au over 20.40 m from 8.00 m (NFGC-25-2607) 3.35 g/t Au over 14.15 m from 8.35 m (NFGC-25-2619) 2.68 g/t Au over 16.40 m from 19.60 m (NFGC-25-2586) Iceberg zone (“Iceberg”) highlights include: 8.40 g/t Au over 12.45 m from 35.55 m (NFGC-25-2391) 5.59 g/t Au over 12.00 m from 114.85 m (NFGC-25-2367) 14.1 g/t Au over 2.40 m from 187.60 m (NFGC-25-2378) Keats zone, including Keats South zone (“Keats”) highlights include: 36.1 g/t Au over 2.00 m from 32.40 m (NFGC-25-2483) 9.15 g/t Au over 7.15 m from 153.50 m (NFGC-25-2492) 12.5 g/t Au over 2.95 m from 36.00 m (NFGC-25-2525) Melissa Render, President of New Found Gold stated: "These final Queensway Phase 1 Keats West, Iceberg and Keats open pit infill results continue to demonstrate the continuity of gold mineralization in the block model and mine plan.