NEW FOUND ANNOUNCES ACQUISITION OF REMAINING ROYALTY INTERESTS UNDERLYING KEATS SOUTH AT QUEENSWAY

VANCOUVER, BC, Oct. 15, 2024 /PRNewswire/ – Fresh Discovered Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (NYSE-A: NFGC) is happy to announce that additional to its press let go dated July 30, 2024, the Corporate has elected to buy the too much royalty on its Blonde Bullet attribute from 3 arm’s dimension royalty holders (in combination, the “Vendors“). As introduced on July 30, 2024, Fresh Discovered bought 0.6% of the Distributors’ 1.6% internet smelter returns royalty at the Corporate’s Blonde Bullet attribute and had the proper to buy the too much 1% internet smelter returns royalty (the “Remaining Royalty“) from the Distributors. The Corporate has now elected to buy the Excess Royalty for combination money attention of $a million. The Blonde Bullet attribute covers a key goal segment at the Corporate’s Queensway Challenge together with the extension of Keats South, in addition to the TCH, Knob, Bullet, Rocket, Grouse and Quarry zones (Determine 1).

Figure 1: Queensway North plan map including location of purchased Golden Bullet royalty (CNW Group/New Found Gold Corp.) — Determine 1: Queensway North plan map together with location of bought Blonde Bullet royalty (CNW Team/Fresh Discovered Gold Corp.)

Collin Kettell, Chairman and CEO of Fresh Discovered, mentioned: “Today’s royalty purchase marks an important milestone in the advancement of the Queensway Project. New Found finds itself in a rare and strong position with a minimal outstanding royalty burden, ranging from 0%-0.4%, covering key zones along the Appleton North corridor. Golden Bullet encompasses the recent discovery of deep mineralization at Keats South, as well as several other notable zones along a 5km segment of the Appleton Fault.”

Certified Particular person

The medical and technical data disclosed on this press let go used to be reviewed and licensed by way of Greg Matheson, P. Geo., Important Running Officer, and a Certified Particular person as outlined below Nationwide Device 43-101. Mr. Matheson sees eye to eye to the newsletter of this press let go dated October 15, 2024, by way of Fresh Discovered. Mr. Matheson certifies that this press let go somewhat and as it should be represents the medical and technical data that methods the foundation for this press let go.

About Fresh Discovered Gold Corp.

Fresh Discovered holds a 100% passion within the Queensway Challenge, situated 15km west of Gander, Newfoundland and Labrador, and simply 18km from Gander World Airport. The undertaking is intersected by way of the Trans-Canada Freeway and has logging roads crosscutting the undertaking, imposing voltage electrical energy traces operating in the course of the undertaking segment, and simple get admission to to a extremely professional body of workers. The Corporate is these days enterprise a 650,000m drill program at Queensway and is easily funded for this program with money and marketable securities of roughly $41 million as of October 2024.

The following the Corporate’s web site at www.newfoundgold.ca and the Corporate’s SEDAR+ profile at www.sedarplus.ca.

Acknowledgements

Fresh Discovered recognizes the monetary backup of the Youth Exploration Help Program, Area of Herbal Sources, Govt of Newfoundland and Labrador.

Touch

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Fresh Discovered Gold Corp.
In step with: “Collin Kettell”

Neither the TSX Mission Alternate nor its Legislation Services and products Supplier (as that time period is outlined within the insurance policies of the TSX Mission Alternate) accepts accountability for the adequacy or accuracy of this let go.

Ahead-Having a look Observation Cautions

This press let go comprises positive “forward-looking statements” throughout the that means of Canadian securities law in the case of too much royalty burdens at the Queensway Challenge; the deserves of the Blonde Bullet attribute, the deserves and doable of the Queensway Challenge; exploration, drilling and mineralization at the Queensway Challenge; assay effects; the translation of drilling and assay effects, the result of drilling systems, mineralization and the invention of zones of high-grade gold mineralization; plans for month exploration and drilling and the timing of identical; month press releases by way of the Corporate; and investment of the drilling program. Even supposing the Corporate believes that such statements are cheap, it can provide incorrect agreement that such expectancies will end up to be proper. Ahead-looking statements are statements that aren’t ancient information; they’re in most cases, however no longer all the time, known by way of the phrases “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”, “often”, “target”, “future”, “likely”, “pending”, “potential”, “goal”, “objective”, “prospective”, “possibly”, “preliminary”, and indistinguishable expressions, or that occasions or situations “will”, “would”, “may”, “can”, “could” or “should” happen, or are the ones statements, which, by way of their nature, the following month occasions. The Corporate cautions that forward-looking statements are according to the ideals, estimates and evaluations of the Corporate’s control at the presen the statements are made, and so they contain quite a few dangers and uncertainties. Because of this, there may also be incorrect agreements that such statements will end up to be correct and original effects and month occasions may just range materially from the ones expected in such statements. Except for to the level required by way of appropriate securities rules and the insurance policies of the TSX Mission Alternate, the Corporate undertakes incorrect legal responsibility to replace those forward-looking statements if control’s ideals, estimates or evaluations, or alternative elements, must alternate. Components that might reason month effects to range materially from the ones expected in those forward-looking statements come with dangers related to imaginable injuries and alternative dangers related to mineral exploration operations, the danger that the Corporate will come across unanticipated geological elements, dangers related to the translation of exploration, drilling and assay effects, the chance that the Corporate would possibly not have the ability to keep allowing and alternative governmental clearances important to hold out the Corporate’s exploration plans, the danger that the Corporate will be unable to boost possess sufficient resources to hold out its trade plans, and the danger of political uncertainties and regulatory or felony adjustments that may intrude with the Corporate’s trade and possibilities. The reader is prompt to the following the Corporate’s Annual Knowledge Mode and Control’s dialogue and Research, publicly to be had in the course of the Canadian Securities Directors’ Device for Digital File Research and Retrieval (SEDAR+) at www.sedarplus.ca for a extra entire dialogue of such chance elements and their doable results.

SOURCE Fresh Discovered Gold Corp.