New Found Gold's revised Queensway study more than doubles after-tax NPV to CAD 1.73 billion

• New Found Gold's revised Queensway preliminary economic assessment more than doubles after-tax net present value at a 5% discount rate to CAD 1.73 billion.
• After-tax internal rate of return reaches 126% at a base-case gold price of USD 3,600 per ounce.
• Measured and indicated gold resources rise 38% to 1,920,000 ounces at the Newfoundland and Labrador project.
• Initial capital remains CAD 149.8 million, fully funded; growth capital totals CAD 832.1 million.
• First material delivery to Pine Cove is targeted for Q4 2027; projected gold production totals 1,744,000 ounces over 15 years.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. New Found Gold Corp. published the original content used to generate this news brief via Newsfile (Ref. ID: 202610221700NEWSFILECNPR____20261022_319963_1) on October 22, 2026, and is solely responsible for the information contained therein.