NFGC · New Found Gold Corp.

New Found Gold Corp., a British Columbia-incorporated company, entered into a definitive underwriting agreement dated April 22, 2026, with a syndicate of 10 Canadian underwriters led by BMO Nesbitt Burns Inc. and SCP Resource Finance LP. The firm commitment offering involves the sale of 33.8 million common shares at a price of $2.96 each, generating gross proceeds of $100.048 million before underwriting fees. Underwriters receive a cash fee of 5.25% on standard sales and a reduced 1.0% on President's List Sales, capped at $21 million of proceeds. An over-allotment option allows purchase of up to 5.07 million additional shares on the same terms, potentially increasing total proceeds to $115.055 million if fully exercised within 30 days post-closing. The offering qualifies under the company's Canadian short form base shelf prospectus (dated May 23, 2025) and U.S. Form F-10 registration statement (No. 333-287547), with final prospectus supplements filed April 22, 2026. Exhibits 99.2-99.16 provide consents from multiple NI 43-101 qualified persons for technical reports on the Queensway Gold Project (effective June 30, 2025) and Hammerdown Gold Project PEA (effective February 18, 2026), supporting mineral project disclosures in the prospectus. This capital raise provides significant liquidity for the gold exploration company, with uses detailed in the prospectus, amid ongoing technical advancements at key projects in Newfoundland and Labrador.