New Found Gold Corp. (TSX-V: NFG) (NYSE-A: NFGC) is pleased to announce that it has closed its “bought deal” public offering of 7,725,000 flow-through common shares of New Found at a price of $7.25 per New Found Flow-Through Share thereby raising  aggregate gross proceeds of $56,006,250.

For further details regarding the Offering and the closing thereof, please see New Found’s news release dated November 6, 2023, accessible on New Found’s website (www.newfoundgold.ca) and under New Found’s profile on SEDAR+ at www.sedarplus.ca.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland and Labrador, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 500,000m drill program at Queensway and is well funded for this program with cash and marketable securities of approximately $29.5 million as of October 2023.