TSX V: NFG Canada’s Newest High Grade Gold Discovery Company Presentation New Found Gold Corp. Download Presentation

ADVANCING THE

HIGH-GRADE QUEENSWAY GOLD PROJECT

MAY 2024

TSX-V: NFG | NYSE-A: NFGC

DISCLAIMER

This presentation contains certain forward-looking statements within the meaning of Canadian securities legislation (the "Forward-looking Statements"), including with respect to the Company's plans, including exploration and drill programs at the Company's Queensway Project in Newfoundland, to assay results from this program, interpretation of results from the drilling program including assay results, the discovery of zones of high-grade gold mineralization, follow-upstep-out drilling, funding of the drilling program, and the merits of the Queensway Project. 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 not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," 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.

Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include uncertainties related to fluctuations in gold and other commodity prices, uncertainties inherent in the exploration of mineral properties, risks associated with the interpretation of assay results and the drilling program, and the impact and progression of the COVID-19 pandemic and other risk factors set forth in the Company's final prospectus dated July 27, 2021 under the heading "Risk Factors". The reader is urged to refer to the Company's prospectus and other filings, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. 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's beliefs, estimates or opinions, or other factors, should change. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.

Information of a scientific nature related to the Queensway Project included in this presentation is based on the NI 43-101 Technical Report for the Queensway Project, Newfoundland, Canada, dated February 15, 2023, with an effective date of January 24, 2023 (the "Queensway Report"), prepared by D. Roy Eccles, M.Sc., P.Geol., P.Geo. of Apex Geoscience Ltd. who is an independent qualified person under NI 43-101.

Greg Matheson, P.Geo., the Chief Operating Officer of the Company, and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained in this presentation. Mr. Matheson has verified the data disclosed herein, including sampling, analytical and test data underlying the technical information contained herein.

Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. All HQ split core assays reported were obtained by either complete sample metallic screen/ fire assay or standard 30-gramfire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia or by 450g photon assay or entire sample photon assay at MSA in Val-d'Or, Quebec. Metallic screen assay method or entire sample photon assay is selected by the geologist when samples contain coarse gold or any samples displaying gold initial assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory's internal quality assurance programs. New Found's quality control program also includes submission of the second half of the core for approximately 5% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays. The Company does not recognize any factors of drilling, sampling or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this news release have been verified by the Company's Qualified Person against the original assay certificates. The Company notes that it has not completed any economic evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves. While the information contained in this presentation is believed to be accurate, New Found Gold expressly disclaims any and all liability for any losses, claims or damages of whatsoever kind based upon the information contained in, or omissions from, this presentation or any oral communication transmitted in connection therewith. In addition, none of the statements contained in this presentation are intended to be, nor shall be deemed to be, representations or warranties of the Company. Where the information is from third-party sources, the information is from sources believed to be reliable, but the Company has not independently verified any of such information contained herein.

This presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities. Under no circumstances should the information contained herein be considered an offer to sell or a solicitation of an offer to buy any securities.

TSX-V: NFG, NYSE-A: NFGC | 2

CORPORATE HIGHLIGHTS

HIGH-GRADE GOLD, STARTING AT SURFACE.

Multiple high-grade discoveries made over several kilometers.

IN A DISTRICT SCALE SETTING.

Property package spans 1,662km2 and covers 110+km of strike.

IN THE MIDST OF A 650,000M DRILL PROGRAM.

Over 500,000m completed to date; discoveries are made through the drill bit.

IN A TIER 1 JURISDICTION.

Newfoundland ranked #4 mining jurisdiction by Fraser Institute.

WITH EXCELLENT INFRASTRUCTURE. Accessible via the Trans-CanadaHighway,

15km west of Gander, with renewable power on site.

LED BY AN EXPERIENCED TEAM.

Supported by a strong shareholder base.

Newfoundland,

Canada

GANDER

QUEENSWAY

PROJECT

ST. JOHN'S

TSX-V: NFG, NYSE-A: NFGC | 3

CORNERSTONE

INVESTOR

invested to date

$6.5M	$8.3M	$90.2M
2019	2020	2021

" NEW FOUND GOLD

REPRESENTS THE

LARGEST INVESTMENT

I HAVE MADE

IN MY CAREER."

Eric Sprott

Billionaire Resource Investor

$137.3M$15.6M

20222023

TSX-V: NFG, NYSE-A: NFGC | 4

BOARD OF DIRECTORS

Collin		Denis		Douglas
Kettell		Laviolette		Hurst
Founder, Chairman & CEO		Founder & President		Independent Director
Mr. Kettell is a founder of New		Geologist with 15+ years of		Geologist with 30+ years of
Found Gold Corp. (2016) and		experience in mining and capital		experience as consultant, mining
Palisades Goldcorp Ltd. (2013),		markets; worked as a production		analyst, and senior executive. Part
a Canadian resource investment		and exploration geologist in		of the founding group of Newmarket
company. Mr. Kettell is an active		Northern Ontario (Timmins,		Gold, which, following discovery of
participant in the resource sector		Kirkland Lake and Red Lake),		the high-grade Swan Zone at the
and is founder and CEO of Nevada		Norway and Ghana. Founder,		company's Fosterville mine, was
King Gold Corp. (TSX-V:NKG),		Director and Executive Chairman of		sold to Kirkland Lake Gold in 2016
founder of Radio Fuels Resources		EarthLabs Inc. (TSX.V: SPOT), and		for $1B. Founder of International
Corp. (CSE:CAKE), and co-founder		also currently serves as a Director		Royalty Corporation, sold in 2010
of EarthLabs Inc. (TSX-V:SPOT).		for Xtra-Gold Resources Corp.		to Royal Gold for $700M. Serves as
		(TSE: XTG), Kirkland Lake		Chairman of Elevation Gold Mining
		Discoveries Corp. (TSX.V: KLDC) and		Corporation and as a director of
		Radio Fuels Energy Corp.		Calibre Mining and Newcore Gold.
		(CSE: CAKE).

DouglasVijay

HurstMehta

IndepIndependentDirector

GeologistCo-founderwithofoverArkview30 yearsCapital. expServesrienceasas memberconsultant,of Genesismining analyst,Bank'sandDEIseniorCommittee,executiveBoard.

Partmemberof theoffoundingClean SeagroupTransport,of Newmarketand Vice ChairGold, ofwhichthe NewfollowingYork discoveMinorityofSupplierthe highDevelopment-grade Swan ZoneCouncilat theMBEcompany'sInput CommitteeFosterville. minePreviously,was sold toManagingKirklandDirectorLake Goldandinmember2016 forof$1thebillionInvestment. Serially successfulCommitteeminingatentrepreneurZiff Brothers and executiveInvestments,.FounderTexasofPacificInternationalGroup, Royaltyand MorganCorporation,Stanley.soldUniversityin 2010of toPennsylvaniaRoyal Gold forHuntsman$700 millionProgram,. summaServes ascumChairmanlaude. Harvaof NordthernBusiness VertexSchool,MiningMBA,andBakeras directorScholar.of Calibre Mining and Newcore Gold.

Raymond

Threlkeld

Independent Director

Seasoned mining professional with 30+ years of experience in mineral exploration, mine operations and construction, and executive management. Served as Chairman of Newmarket Gold and became a director of Kirkland Lake Gold upon the sale of Newmarket to Kirkland for $1B. From 1996 to 2004 Ray held a variety of senior executive positions with Barrick Gold Corporation, rising to the position of Vice President, Project Development. Among his accomplishments were the Pierina Mine in Peru, Bulyanhulu Mine in Tanzania, Veladero Mine in Argentina, Lagunas Norte Mine in Peru and the Cowel Mine in Australia.

TSX-V: NFG, NYSE-A: NFGC | 5

KEY PEOPLE

Ron		Greg		Michael		Melissa
Hampton		Matheson, P.Geo.		Kanevsky, CPA		Render, P.Geo.
CDO		COO		CFO		V.P. of Exploration
Ron has 25+ years of project and		A professional geologist with over		A Chartered Professional Accountant		An exploration geologist with over
engineering leadership experience		14 years of experience managing		with nine years of post-designation		10 years of experience focused on
through the study, construction,		grass roots exploration through to		professional experience working		orogenic gold. Managed exploration
and operational phases of project		advanced exploration projects;		with public and private companies.		projects worldwide from grassroots
development. This includes Project		former exploration manager of		Expertise in corporate reporting,		to advanced stages in greenstone
Director for Centerra Gold, Project		Northern Gold Mining, senior		financial processes and risk		belts including the Abitibi, Eastern
Director for the $1.2B Minesa gold		project manager for Oban Mining		management. Began his professional		Goldfields, Hope Bay, Central
mine in Colombia, Project Controls		and Osisko Mining. Responsible for		career in the audit and assurance		Lapland and Banfora for Kinross Gold,
and Services group leader for Vale's		the discovery and delineation of		practice at Deloitte.		AngloGold Ashanti and TMAC
Voisey's Bay $1B Development, and		the >2.0 Moz. Garrison Gold project				Resources. 3 years as a consultant
Project Controls and Commercial		in NE Ontario from early-stage				specializing in target generation,
Services group leader for Rio		exploration through trial				3D modelling, data management
Tinto's $1B Diavik Diamond Mines		production mining.				and exploration program design.
Development.

TSX-V: NFG, NYSE-A: NFGC | 6

SIGNIFICANT INTERCEPTS

	SHEAR	ZONE
GLENWOOD

MONTE

CARLO

6 NFGC-21-201

ZONE

LOTTO

THE COMPANY'S MOST SIGNIFICANT INTERCEPTS COVER 5 ZONES, ACROSS 2.5KM OF STRIKE.

	HIGH GRADE INTERVAL	ZONE	DATE RELEASED
1	105 g/t Au over 27.05m	Iceberg	Jun 5, 2023
2	49.7 g/t Au over 29.90m	Iceberg	Mar 13, 2023
3	42.6 g/t Au over 32.00m	Keats West	Nov 28, 2022
4	69.2 g/t Au over 14.15m	Golden Joint	March 24, 2022
5	430 g/t Au over 5.25m	Golden Joint	Jun 30, 2021
6	150 g/t Au over 11.50m	Lotto Main	Jun 23, 2021
7	106 g/t Au over 35.40m	Keats Main	May 21, 2021
8	124 g/t Au over 17.70m	Keats Main	May 4, 2021
9	261 g/t Au over 7.20m	Keats Main	Apr 20, 2021
10	69.2 g/t Au over 14.90m	Keats Main	Apr 7, 2021
11	86.2 g/t Au over 20.50m	Keats Main	Jan 28, 2020

POWERLINE

APPLETON

FAULT

DOME

BASELINE - ZONE? KEATS FAULT

LITTLE
4 NFGC-21-462			ICEBERG
		ALLEY
5 NFGC-21-241			ROAD
			FAULT	ZONE
GOLDEN
	-BASELINE
JOINT
	KEATS
KEATS
WEST
KEATS		ICEBERG EAST
NORTH		2 NFGC-23-1120
3 NFGC-22-960
COKES	1	NFGC-23-1210
ICEBERG	10 NFGC-21-122	AFZ QWN PLAN MAP
			Deformation Zone
11 NFGC-19-01		Au Associated Fault Interpreted
	Au Vein Surface Intersection
			Trans-Canada Highway
8	NFGC-20-59	Greywacke
Shale

NFG Collar with Assays

9 NFGC-21-137 7 NFGC-21-182

KEATS

0

250

500m

TSX-V: NFG, NYSE-A: NFGC | 7

20 ZONES AND COUNTING

THE AFZ MINERALIZED ENVELOPE NOW COVERS AN AREA RUNNING 4.1KM IN STRIKE LENGTH BY 400M WIDE.

ZONE	RELEASED
Dome	January 2020
Keats	January 2020	Glenwood
Lotto	January 2021
Golden Joint	June 2021
Cokes	July 2021
Knob	July 2021
Keats North	July 2021
Road	July 2021

0

Appleton

QWN AFZ PLAN MAP		EVEREST
Deformation Zone
Au Associated Fault Interpreted
Au Vein
Trans-Canada Highway
AFZ Mineralized Footprint	K2
AFZ Target Envelope	HONEYPOT
NFGC Collar

Interpreted Shear Zone

JACKPOT

500	1,000m	VEGAS
			ZONE	LOTTO
			NORTH
		SHEAR			BASELINE
	GLENWOOD	MONTE	LOTTO
	CARLO	ZONE?
				KEATS
	POWERLINE		FAULT
		DOME

Lotto North	March 2022
Keats West	September 2022
Iceberg	March 2023
Everest	May 2023
K2	May 2023

LITTLE	GOLDEN
JOINT
KEATS	KEATS
WEST
NORTH

ICEBERG
ROAD	ALLEY
KEATS	BASELINE
	ZONE
FAULT

Monte Carlo	May 2023
Iceberg East	May 2023
Jackpot	June 2023
Honeypot	January 2024
Vegas	February 2024
Powerline	February 2024
Iceberg Alley	March 2024

ICEBERG EAST COKES

ICEBERG

KEATS

TCW	TSX-V: NFG, NYSE-A: NFGC | 8

PROJECT ADVANCEMENT TIMELINE

NEW FOUND IS ADVANCING THE QUEENSWAY PROJECT THROUGH THE DISCOVERY PHASE.

				3D Seismic Survey Commences
Transactions and staking	Baseline			Commencement of metallurgical
		program; geotechnical and
to consolidate the	environmental	Golden Joint	Keats West	geochemical characterization
Queensway Project	studies commence	Discovery	Discovery	of host rock studies
2016-2017	AUG 2020	JUN 2021	SEP 2022	MAR 2023

JAN 2020	OCT 2020	JUN 2022	JAN 2023	APR 2024
Keats Main	Lotto	Appointment of	Iceberg	Release of
Discovery	Discovery	Ron Hampton as Chief	Discovery	Phase I Metallurgy,
		Development Officer		90-96%
				Gold Extraction

TSX-V: NFG, NYSE-A: NFGC | 9

OUR HOME: NEWFOUNDLAND

NEW FOUND IS PROUD TO CALL NEWFOUNDLAND HOME.

APPLETON

FAULT

JBP

FAULT

Giga-Shack. Recently completed 25,000 ft2

Ranked #4

mining jurisdiction

globally1

The province is host to a skilled workforce and is business-friendly

The Government

of NL plans to build 5 new mines by 20302

Excellent infrastructure

including highway

and renewable power

available at site

Glenwood

Appleton

Gander

Lake

Gander

QUEENSWAY PROJECT

Town

Transmission Line

Trans-Canada Highway

Regional Fault Zone

Major Fault Zone

Queensway North

Queensway South

0
5	10	20km

office and core shack.

1 Fraser Institute (2022), 2 Mining Industry NL: Mining the Future Report (2018)

TSX-V: NFG, NYSE-A: NFGC | 10