NEW FOUND ANNOUNCES ACQUISITION OF REMAINING ROYALTY INTERESTS UNDERLYING KEATS SOUTH AT QUEENSWAY

Core Insights - New Found Gold Corp. has decided to purchase the remaining 1% net smelter returns royalty on its Golden Bullet property for a total cash consideration of $1,000,000, following a previous acquisition of 0.6% of the royalty [1][2] - The Golden Bullet property is a significant area within the Queensway Project, which includes key zones such as Keats South and several others along a 5km segment of the Appleton Fault [2] Company Overview - New Found Gold Corp. holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, with easy access to infrastructure and a skilled workforce [4] - The company is currently conducting a 650,000m drill program at the Queensway Project and has approximately $41 million in cash and marketable securities as of October 2024 [4]