New Found to List on the NYSE American Stock Exchange

Rhea-AI Summary

New Found Gold Corp. (TSXV: NFG) announced plans to list its common shares on the NYSE American under the ticker symbol "NFGC," effective September 29, 2021. Concurrently, shares will cease trading on the OTC Markets. The company is advancing its Queensway Project in Newfoundland, backed by a robust $111 million in working capital. A 200,000m drilling program is underway with plans to increase the number of rigs from nine to ten by Q3 2021, positioning New Found Gold favorably within the mining sector.

Positive

• Listing on NYSE American enhances visibility and access to capital.
• Ongoing 200,000m drilling program at Queensway project.
• Strong working capital of approximately $111 million supports operations.

Negative

• Ceasing trading on OTC Markets may limit liquidity.

VANCOUVER, BC, Sept. 24, 2021 /PRNewswire/ - New Found Gold Corp. ("New Found" or the "Company") (TSXV: NFG) (OTC: NFGFF) is pleased to announce that the Company intends to list its common shares on the NYSE American stock exchange ("NYSE American") in the United States. New Found expects its common shares will commence trading on the NYSE American on or about September 29, 2021, under ticker symbol "NFGC". New Found's common shares will continue trading on the TSX Venture Exchange under ticker symbol "NFG".

Concurrent with the start of trading on the NYSE American, New Found's common shares will cease trading on the OTC Markets. Shareholders are not required to take any action.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, 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 200,000m drill program at Queensway.  Nine rigs are currently in operation at Queensway with the drill count planned to increase to ten rigs by Q3 2021. With a current working capital balance of approximately $111 million, New Found is well funded for this program.

Please see the Company's website at www.newfoundgold.ca and the Company's SEDAR profile at www.sedar.com.

Contact

To contact the Company, please visit the Company's website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

New Found Gold Corp.

Per: "Craig Roberts"

Craig Roberts, P.Eng., Chief Executive Officer

Email: croberts@newfoundgold.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statement Cautions

This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

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SOURCE New Found Gold Corp.

FAQ

When will New Found Gold Corp. start trading on the NYSE American?

New Found Gold Corp. is expected to commence trading on the NYSE American on or about September 29, 2021.

What is the ticker symbol for New Found Gold on the NYSE American?

The ticker symbol for New Found Gold on the NYSE American will be "NFGC."

What will happen to New Found Gold shares on the OTC Markets?

Concurrent with the start of trading on the NYSE American, New Found Gold's shares will cease trading on the OTC Markets.

How much working capital does New Found Gold have?

New Found Gold has a working capital balance of approximately $111 million.

What drilling program is New Found Gold currently undertaking?

New Found Gold is currently executing a 200,000m drilling program at its Queensway Project.