New Found Gold Corp 2025 Annual Report

FORWARD-LOOKING STATEMENTS This annual report on Form 40-F (the “Annual Report”) of New Found Gold Corp. (the “Company”) contains“forward-looking information” and “forward-looking statements” (referred to together herein as “forward- lookinginformation”). Forward-looking statements and information can generally be identified by the use of forward-lookingterminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” orsimilar terminology. Forward-looking statements and information are not historical facts, are made as of the date ofthis Annual Report, and include, but are not limited to, statements regarding discussions of results from operations Forward-looking statements included or incorporated by reference in this Annual Report include, withoutlimitation, statements related to the Company’s Queensway Gold Project and the Company’s planned activities on theQueensway Gold Project; statements related to the Company’s Hammerdown Gold Project; the Company’s goalsregarding exploration and potential development of its projects; the Company’s future business plans; expectationsregarding the ability to raise further capital; the non-binding term sheet for the Loan Facility (as such term is defined inthe Company’s Annual Information Form for the year ended December 31, 2025 (the “Annual Information Form”); theproposed terms of the Loan Facility, including the amounts to be funded and the timing thereof; the arrangement andadministration fees; the interest rate; the term of the Loan Facility; the terms of the warrants to be issued in connection These forward-looking statements involve numerous risks and uncertainties and other factors which maycause the actual results, performance or achievements of the Company to be materially different from any futureresults, performance or achievements expressed or implied by such forward-looking information. Important factorsthat may cause actual results to vary include without limitation, the Company may fail to find a commercially viabledeposit at any of its mineral properties; Mineral Reserves and Mineral Resources (as such terms are defined in theAnnual Information Form) are estimates and there is no assurance that anticipated tonnage, grades or recovery levelswill be achieved, or that Mineral Reserves can be mined or processed profitably; the Company’s plans may beadversely affected by the Company’s reliance on historical data compiled by previous parties involved with its mineralproperties; mineral exploration and development are inherently risky; the Company’s operations are subject to all thehazards and risks normally encountered in the exploration and development of minerals; the mineral explorationindustry is intensely competitive; additional financing may not be available to the Company when required or, ifavailable, the terms of such financing may not be favorable to the Company; the Company may pledge its assets assecurity to secure financing, which may limit the Company’s financial flexibility and subject the Company to a risk ofdefault; the Company has no history of mineral production; fluctuations in the demand for gold; the Company may notbe able to identify, negotiate, finance or receive regulatory approval for any future acquisitions successfully, or tointegrate such acquisitions with its current business; the Company’s exploration activities are dependent upon the grantof appropriate licenses, concessions, leases, permits and regulatory consents, which may be withdrawn or not granted;the Company’s operations could be adversely affected by possible future government legislation, policies and controlsor by changes in applicable laws and regulations; there is no guarantee that title to the properties in which the In making the forward-looking statements in this Annual Report, the Company has applied several materialassumptions, including without limitation, the assumptions that: the ability to raise any necessary additional capital onreasonable terms to advance exploration and development of the Company’s mineral properties; future prices of goldand other metal prices; the timing and results of exploration and drilling programs; the demand for, and price of gold;that general business and economic conditions will not change in a material adverse manner; the Company’s ability toprocure equipment and operating supplies in sufficient quantities and on a timely basis; the geology of the QueenswayGold Project as described in the Queensway Technical Report (as such term is defined in the Annual InformationForm); the geology of the Hammerdown Gold Project as described in the Hammerdown Technical Report (as such Certain of the risks and assumptions are described in more detail under the heading “Risk Factors” in theCompany’s Annual Information Form and in the Company’s audited financial statements and management discussion The actual results or performance by the Company could differ materially from those expressed