Eric Sprott Announces Additional Securities of New Found Gold Corp. Acquired in Exchange for Securities of Maritime Resources Corp. Pursuant to the Plan of Arrangement

Core Viewpoint - Eric Sprott's 2176423 Ontario Ltd. acquired significant shares and warrants of New Found Gold Corp. through a statutory plan of arrangement with Maritime Resources Corp. [2] Group 1: Acquisition Details - 2176423 Ontario Ltd. acquired 7,691,250 common shares and 2,000,025 share purchase warrants of New Found Gold Corp. as part of the arrangement [2] - The arrangement involved New Found Gold acquiring all outstanding common shares of Maritime Resources that it did not already own, with Maritime shareholders receiving 0.75 of a New Found Share for each Maritime Share held [2] Group 2: Previous Holdings - Prior to the arrangement, Eric Sprott held 10,255,000 Maritime Shares and 2,666,700 Maritime Warrants, representing approximately 8.3% of the outstanding Maritime Shares on a non-diluted basis [3] - Following the arrangement, Mr. Sprott no longer holds any securities of Maritime Resources and has ceased to be an insider of the company [3] Group 3: New Found Gold Holdings Post-Arrangement - Before the arrangement, Mr. Sprott owned 56,224,015 New Found Shares, approximately 23.1% of the outstanding shares on a non-diluted basis [4] - After the arrangement, Mr. Sprott's holdings increased to 63,915,265 New Found Shares and 2,000,025 New Found Warrants, representing approximately 18.9% of the outstanding shares on a non-diluted basis, indicating a decrease of approximately 3.7% from the previous report [4] - Mr. Sprott maintains a long-term investment perspective in New Found Gold and may consider acquiring or selling additional securities based on market conditions [4]