Hub and Spoke Mine Plan in Central Newfoundland: Three deposits, Hammerdown, Orion and Stog'er Tight, centered around the Company's Pine Cove Mill Robust Economics: After-tax NPV5% [1] of $199.2 M[2] using a base case scenario (variable price deck: long-term price of US$3,475/oz averaging US$3,656/oz Au[3]) After-tax NPV5% of $415.1 M using an upside scenario (US$5,000/oz Au) Solid Production over an Extended Mine Life: 251,287 oz Au produced over a 13-year LOM[4] Average LOM total cash costs[5] and AISC[6] of US$2,149/oz Au and US$2,429/oz Au Total after-tax free cash flow[7] of $243.3 M Additional Value Potential from Exploration Upside: Deposits open laterally and to depth; additional target areas being evaluated Exploration planned to commence H2/26 All amounts in Canadian dollars unless stated otherwise Toronto, Ontario--(Newsfile Corp. - February 26, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce the results of a positive Preliminary Economic Assessment ("PEA") and updated mineral resource estimate ("MRE") for the Company's 100% owned Hammerdown Gold Project ("Hammerdown" or the "Project"), which includes the Hammerdown deposit, Orion deposit and Stog'er Tight deposit (collectively, the "Deposits") and the Pine Cove Mill ("Pine Cove" or the "Mill"), located in Newfoundland and Labrador, Canada. The Deposits are evaluated with a Hub and Spokes model centred around Pine Cove, with the Hammerdown deposit currently being ramped up to commercial production.
