Eric Sprott Announces Additional Securities of New Found Gold Corp. Acquired in Exchange for Securities of Maritime Resources Corp. Pursuant to the Plan of Arrangement

The most recent news, dated November 13, 2025, confirms that New Found Gold Corp. (NFG) has successfully closed its previously announced acquisition of all outstanding common shares of Maritime Resources Corp. (MAE) via a statutory plan of arrangement. Under the terms of the deal, former Maritime shareholders received 0.75 of a New Found Gold common share for each Maritime share held. With the closing of the transaction, Maritime's shares are expected to be delisted from the TSX Venture Exchange.

The CEO of New Found Gold, Keith Boyle, stated that the acquisition transforms the company from an early-stage explorer into an emerging Canadian gold producer. The deal combines NFG's flagship Queensway Gold Project with Maritime's near-term producing Hammerdown Gold Project, both located in Newfoundland.

Concurrent with this news, a separate release was issued by strategic investor Eric Sprott, filing an early warning report detailing his updated holdings in New Found Gold as a result of the arrangement. His shares in Maritime were converted into NFG shares, confirming his continued significant ownership in the combined entity.

The closing of the Maritime Resources acquisition is a transformative, game-changing event for New Found Gold. While the deal was announced on September 5, 2025, and overwhelmingly approved by Maritime shareholders on November 5, 2025, this final closing removes all transaction uncertainty and officially graduates NFG from a pure-play explorer to a producer.

New Found Gold Corp. is a Canadian gold company that has been focused on its 100%-owned, district-scale Queensway Project in Newfoundland and Labrador. Queensway is an advanced-stage exploration project covering over 110 km of strike length along prospective fault zones. The company completed a positive Preliminary Economic Assessment (PEA) in July 2025, outlining a potential 15-year mine life producing 1.5 million ounces of gold.

With the acquisition of Maritime Resources, NFG adds the Hammerdown Gold Project to its portfolio. Hammerdown is a fully permitted, high-grade, near-term production asset, also in Newfoundland, located 180 km from Queensway. It comes with significant infrastructure, including the Pine Cove processing mill, which will provide the initial cash flow to fund Queensway's development.