CALGARY, AB / ACCESS Newswire / March 3, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) (‘Valeura’ or the ‘Company’) acknowledges that Thailand’s Ministry of Energy has, by way of a press release, requested that domestic oil producers cooperate in supporting national energy security in Thailand, in light of disruptions to the normal supply of oil from the Middle East region. This request includes postponing any planned downtime of oil production facilities and temporarily suspending crude oil exports.

Valeura is seeking further clarification from the Ministry of Energy to ensure compliance with the request and to continue supporting Thailand’s economy with domestically-produced energy. Valeura anticipates that this new government action will not interfere with the Company’s ongoing operations in Thailand, and production is continuing as usual and in accordance with Valeura’s high standards for health, safety, and environmental stewardship.

Thailand’s local network of crude oil purchasers constitutes a viable market for Valeura’s crude oil, and includes both refiners and blenders who have direct experience with the Company’s particular crude oil streams. Typically, approximately one third of Valeura’s oil is sold into the domestic Thai market, and from time to time, each of Valeura’s oil streams have been sold within the domestic market.

Thailand is a net importer of oil, with approximately 92% of its daily crude oil requirements coming from foreign sources, predominantly the Middle East region (2025 data, Energy Policy and Planning Office, Ministry of Energy). Thailand has issued similar requests in response to geopolitical developments in the past, to support national energy security by temporarily mandating that domestically-produced petroleum remains within Thailand. Valeura is well-versed in responding to such requests and intends to comply, to support Thailand’s energy needs.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries) +65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries) +1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Beacon Securities Limited, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Roth Canada Inc., and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

About the Company

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as ‘anticipate’, ‘believe’, ‘expect’, ‘plan’, ‘intend’, ‘estimate’, ‘propose’, ‘project’, ‘target’ or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, the Company’s belief that the new government action will not interfere with the Company’s ongoing operations in Thailand; and the Company’s intent to comply with the government’s request, subject to further clarification.

Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

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

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Valeura Energy Inc.

View the original press release on ACCESS Newswire

Proceeds to be used to Accelerate Procurement and Component Assembly for Demonstration Facility Deployment in Iceland

Syntholene Energy CORP. (TSXV: ESAF,OTC:SYNTF) (FSE: 3DD0) (OTCQB: SYNTF) (the ‘Company’ or ‘Syntholene’) is pleased to announce that it has closed its previously announced non-brokered private placement for aggregate gross proceeds of $3,750,000 (the ‘Financing’).

‘We are thrilled to have successfully closed this financing, which reflects strong investor confidence in Syntholene’s technology and vision,’ said Daniel Sutton, Chief Executive Officer. ‘These proceeds will accelerate the development of our demonstration facility in Iceland as we continue to advance our mission of delivering cost-competitive, carbon-neutral synthetic fuel.’

An aggregate of 8,333,333 units (each, a ‘Unit‘) were issued at a price of $0.45 per Unit pursuant to the Financing, with each Unit comprised of one common share of the Company (a ‘Common Share‘) and one non-transferable common share purchase warrant (a ‘Warrant‘). Each Warrant is exercisable into one additional Common Share at an exercise price of $0.63 for a period of two years from the date of issuance, subject to an acceleration provision whereby the Company may accelerate the expiry date of the Warrants if the daily trading price of the Common Shares equals or exceeds $0.90 on the TSX Venture Exchange for a period of ten consecutive trading days, in which case the Warrants will expire on the 30^th day after the date on which notice is given by news release (the ‘Acceleration Provision‘).

Gross proceeds from the Financing are expected to be used toward the procurement and assembly of components for the Company’s planned demonstration facility in Iceland, and toward corporate marketing initiatives, investor relations and working capital.

In connection with the Financing, the Company entered into a fiscal advisory agreement dated February 11, 2026 with Canaccord Genuity Corp. ( ‘Canaccord‘), pursuant to which the Company and Canaccord agreed to extend the right of first refusal under the agency agreement between the Company, Canaccord and other agents dated September 18, 2025 to a period ending 18 months from closing of the Financing, and for the Company to pay certain fees to Canaccord in connection with the Financing. On closing of the Financing, Canaccord was paid a cash commission of $112,032, issued 248,960 non-transferable broker warrants, 111,111 corporate finance shares and 111,111 non-transferrable corporate finance warrants. Each broker warrant is exercisable into one Common Share at $0.45 per share for a period of two years from the date of issuance. Each corporate finance warrant is exercisable into one Common Share at $0.63 per share for a period of two years from the date of issuance, subject to the Acceleration Provision.

In addition, the Company entered into a finders’ fee agreement dated March 2, 2026 with Haywood Securities Inc. (‘Haywood‘), pursuant to which the Company agreed to pay certain fees to the Canaccord in connection with the Financing. On closing of the Financing, Haywood was paid a cash commission of $7,992 and issued 17,760 non-transferrable broker warrants. Each broker warrant is exercisable into one Common Share at $0.45 per share for a period of two years from the date of issuance.

All securities issued pursuant to the Financing are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. The securities offered pursuant to the Financing have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Financing constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘), as certain related parties of the Company participated in the Financing as follows: John Kutsch, director and officer acquired 1,455,556 Units for $655,000, Grant Tanaka, Chief Financial Officer acquired 111,111 Units for $50,000, and Anna Pagliaro, director acquired 22,222 Units for $10,000. Pursuant to Sections 5.5(b) and 5.7(1)(a) of MI 61-101, the Financing is exempt from the requirement to obtain a formal valuation and minority shareholder approval in respect of this transaction as the Company is not listed on the specified markets set out in MI 61-101 and the fair market value of the consideration from the related parties participating in the Financing is not greater than 25% of the market capitalization of the Company. The aforementioned directors disclosed their interest in the Financing to the board of directors of the Company, and the disinterested members of the board approved the Financing and related party transactions under applicable corporate law. In connection with the Financing, each investor in the Financing entered into a standard form of subscription agreement with the Company containing customary terms for a private placement of the nature of the Financing. The Company did not file a material change report in respect of the Financing at least 21 days before the closing of the Financing, which the Company deems reasonable in the circumstances in order to complete the Financing in an expeditious manner.

Early Warning Disclosure – Acquisition by John Kutsch

John Kutsch, a director of the Company, acquired 1,455,556 Units pursuant to the Financing for aggregate consideration of $655,000 representing a price of $0.45 per Unit. Immediately prior to closing of the Financing, Mr. Kutsch beneficially owned, directly or indirectly, 15,583,467 Common Shares, 543,400 Options, 100,000 RSUs and 2,386,755 deferred consideration shares (‘DCSs‘), representing approximately 22.6% of the issued and outstanding Common Shares on a non-diluted basis and, assuming the settlement of all RSUs into Common Shares, exercise of all Options into Common Shares and issuance of all DCSs, approximately 25.86% of the issued and outstanding Common Shares on a partially diluted basis. Immediately following closing of the Financing, Mr. Kutsch beneficially owns, directly or indirectly, 17,039,023 Common Shares, 543,400 Options, 100,000 RSUs, 2,386,755 DCSs and 1,455,556 Warrants, representing approximately 21.96% of the issued and outstanding Common Shares on a non-diluted basis and, assuming the settlement of all RSUs into Common Shares, exercise of all Options and Warrants into Common Shares and issuance of all DCSs, approximately 26.23% of the issued and outstanding Common Shares on a partially diluted basis. The Common Shares held by Mr. Kutsch are held for investment purposes and were acquired for investment. Mr. Kutsch has a long-term view of the investment and may acquire additional securities of the Company either on the open market, through private acquisitions or as compensation or sell the securities on the open market or through private dispositions in the future depending on market conditions, general economic and industry conditions, the Company’s business and financial condition, reformulation of plans and/or other relevant factors. Certain securities held by Mr. Kutsch as subject to Tier 2 escrow in accordance with TSXV policies, as described in the Filing Statement dated November 30, 2025, a copy of which is filed on the Company’s profile on SEDAR+.

A copy of John Kutsch’s early warning report will be filed on the Company’s profile on SEDAR+ (www.sedarplus.ca) and may also be requested by mail at Syntholene Energy Corp. Suite 1723, 595 Burrard Street, Vancouver, BC V7X 1J1, Attention: Corporate Secretary or phone at 604-684-6730.

About Syntholene

Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.

Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.

Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.

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 Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the proposed use of proceeds of the Financing, development of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.

The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, including that it will use the proceeds of the Financing, if any, as described herein, that the Company will be able to advance its planned test facility, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.

Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.

Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286066

Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) (‘Blackrock’ or the ‘Company’) is pleased to announce the issuance by the Nevada Department of Environmental Protection (NDEP), through the Bureau of Air Pollution Control, the Class II Air Quality and Surface Disturbance Permit (the ‘Permit’) for the Company’s Tonopah West mineral project (‘Tonopah West’) located along the Walker Lane Trend in Nye and Esmeralda Counties, Nevada, USA.

The Permit allows for the disturbance of up to 150 acres (60.7 Hectares) at Tonopah West with appropriate dust control measures and an ongoing program using the best practical methods to prevent particulate matter from becoming airborne. The term of the Permit is five (5) years, which can be extended and modified as Tonopah West moves toward permitting and construction of its proposed exploration decline, test mining and bulk sample extraction programs.

Data collection continues for the hydrogeological and geochemical programs that will form the basis for the Water Pollution Control Permit. Five humidity cells are in process to review acid generating potential of the waste and mineralized lithologies that will be encountered and transported to the surface during the tunneling and construction of the exploration decline including stockpiles for mineralized material mined as part of the bulk sample program.

The hydrogeological program is designed to understand the groundwater dynamics focused on potential flow and volumes to support required management and disposal as needed during the test mining and bulk sample phase of the program. Waste dump, stockpiles and portal entry engineering designs are on schedule and will be completed and used to calculate surface disturbance that will be the cornerstone for the Modification to the Nevada Reclamation Permit. The permitting process is on schedule with all permits anticipated by mid-2027. Once all permits are in hand, the Company will decide when to commence with the exploration decline, test mining and bulk sample extraction programs at Tonopah West.

Qualified Persons

Blackrock’s exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Blackrock Silver Corp. is an American-focused emerging primary silver developer systematically advancing the high-grade Tonopah West Project, situated in the historic ‘Queen of the Silver Camps’ in a jurisdiction consistently ranked as one of the top mining regions globally. The Company is backstopped by a veteran board and technical team with a proven track record of discovering, financing, and building major precious metal mines in Nevada and globally. Blackrock is committed to establishing a secure, high-margin, domestic supply of silver and gold.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains ‘forward-looking statements’ and ‘forward-looking information’ (collectively, ‘forward-looking statements‘) within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company’s strategic plans; the Company’s permitting initiatives at Tonopah West, including the anticipated receipt of all permits by mid-2027; the proposed commencement of an exploration decline, test mining and bulk sample extraction programs at Tonopah West; the Company’s de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company’s operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company’s ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption ‘Risks Factors’ in the Company’s most recent Annual Information Form.

Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286059

71.8 g/t Au over 31.95 m and 76.6 g/t Au over 16.00 m at Iceberg 51.3 g/t Au over 3.40 m and 11.8 g/t Au over 9.95 m at Keats

New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (‘New Found Gold’ or the ‘Company’) is pleased to announce the final results of the Company’s 2025 grade control drill program on its 100%-owned Queensway Gold Project (‘Queensway’ or the ‘Project’) in Newfoundland and Labrador, Canada, including results from the Keats zone (‘Keats’) and Iceberg zone (‘Iceberg’) excavations in the AFZ Core (‘AFZC’), completed as part of the Company’s 2025 drill program.

Iceberg excavation highlights include:

Keats excavation highlights include:

Melissa Render, President of New Found Gold stated: ‘These final results from our highly successful 2025 grade control drill program at the Keats and Iceberg excavations continue to deliver consistently high gold grades over broad widths, returning some of the best intercepts we have drilled to date at Queensway. We continue to systematically de-risk Queensway, as demonstrated by the continuity of high-grade gold mineralization in these at-surface zones targeted for early open pit mining in our 2025 PEA Phase 1 mine plan.’

Work Summary

The results presented in this release include the final 907 m of drilling in 32 diamond drill holes (‘DDH‘) from the Keats excavation (‘KEGCDP‘) and the entirety of the 2,390 m of drilling in 40 DDH from the Iceberg excavation (‘IEGCDP‘) 2025 grade control drill program (Figures 1 to 4). The KEGCDP and IEGCDP were designed to improve confidence in the distribution of high-grade, near- to at-surface gold mineralization and support mine planning as outlined in the 2025 Preliminary Economic Assessment (‘PEA‘) Phase 1 open pits (see the New Found Gold press release dated July 21 2025). Drill highlights, along with detailed results for these 72 DDH, are provided in Tables 1 to 3 below.

The full KEGCDP comprises 2,773 m in 84 DDH; for the previously reported KEGCDP results see the New Found Gold press releases dated December 1, 2025 and February 2, 2026 and highlights below. The full IEGCDP comprises 2,390 m of drilling in 40 DDH and all results are reported in this press release.

The KEGCDP tested a volume that is approximately 65 m long by 30 m deep by 40 m wide and the IEGCDP a volume that is approximately 60 m long by 35 m deep by 40 m wide with a drill spacing of 5 m by 5 m and includes the near- to at-surface high-grade portions of Keats and Iceberg that were exposed as part of the Company’s excavation programs (see the New Found Gold press releases dated September 23, 2024, December 2, 2024, September 25, 2025, December 1, 2025 and February 2, 2026).

Results released to date correlate well with the initial mineral resource estimate (‘MRE‘) block model and indicate strong continuity of -high grade mineralized shoots at both Keats and Iceberg, providing improved definition of their geometry, with most intervals occurring at or within a few meters of surface. The detailed geostatistical data from this phase of work will further validate the resource models, specifically by increasing confidence in grade-capping and influence-limiting parameters applied to high-grade intersections in advance of a MRE update and subsequent mine planning.

The Keats and Iceberg zones are hosted within the Keats-Baseline Fault Zone (‘KBFZ‘), a high-grade gold-bearing structure that has been defined over a current strike length of 1.9 kilometres (‘km‘). This corridor consists of a broad mineralized fault zone with limited deep drill testing to date. Drilling completed in 2024 confirms that the system extends to vertical depths of up to 1.1 km (see the New Found Gold press releases dated July 11, 2024, October 31, 2024, and April 29, 2025).

Figure 1: Plan view map of the AFZC with location of Keats and Iceberg excavation grade control drill programs.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_001full.jpg

• Iceberg excavation grade control drill program (this press release):
  • 71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)
  • 76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)
  • 44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)
  • 35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)
  • 31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)
  • 40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)
  • 41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)
  • 55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)
  • 43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)
  • 22.6 g/t Au over 17.55 m from 50.45 m (NFGC-25-GC-050)
  • 30.4 g/t Au over 12.90 m from 8.00 m (NFGC-25-GC-112)
  • 11.9 g/t Au over 27.55 m from 27.65 m (NFGC-25-GC-097)
  • 27.3 g/t Au over 11.70 m from 48.90 m (NFGC-25-GC-084)
  • 27.8 g/t Au over 11.45 m from 38.85 m (NFGC-25-GC-067)
  • 120 g/t Au over 2.60 m from 17.15 m (NFGC-25-GC-109)
  • 11.6 g/t Au over 26.15 m from 31.30 m (NFGC-25-GC-058)
  • 30.9 g/t Au over 9.00 m from 32.30 m (NFGC-25-GC-064)
  • 28.1 g/t Au over 9.15 m from 45.15 m (NFGC-25-GC-048)
  • 18.4 g/t Au over 12.85 m from 38.45 m (NFGC-25-GC-076)
  • 26.7 g/t Au over 8.05 m from 16.45 m (NFGC-25-GC-119)
  • 7.56 g/t Au over 23.85 m from 48.15 m (NFGC-25-GC-052)
  • 6.77 g/t Au over 20.05 m from 54.70 m (NFGC-25-GC-046)
  • 12.0 g/t Au over 11.05 m from 33.30 m (NFGC-25-GC-059)
  • 8.55 g/t Au over 15.40 m from 25.40 m (NFGC-25-GC-109)
  • 12.8 g/t Au over 10.10 m from 28.80 m (NFGC-25-GC-113)
  • 13.0 g/t Au over 9.90 m from 13.45 m (NFGC-25-GC-122)
  • 8.26 g/t Au over 12.55 m from 63.00 m (NFGC-25-GC-087)
  • 11.1 g/t Au over 9.05 m from 14.40 m (NFGC-25-GC-123)
  • 16.9 g/t Au over 4.15 m from 29.60 m (NFGC-25-GC-121)
  • 5.17 g/t Au over 12.40 m from 17.00 m (NFGC-25-GC-124)
  • 6.70 g/t Au over 9.20 m from 42.80 m (NFGC-25-GC-087)
  • 8.38 g/t Au over 6.85 m from 15.35 m (NFGC-25-GC-074)
  • 15.5 g/t Au over 3.65 m from 71.95 m (NFGC-25-GC-043)
  • 3.88 g/t Au over 13.10 m from 31.15 m (NFGC-25-GC-074)
  • 17.5 g/t Au over 2.80 m from 40.95 m (NFGC-25-GC-084)
  • 20.1 g/t Au over 2.35 m from 69.80 m (NFGC-25-GC-085)
  • 18.0 g/t Au over 2.30 m from 41.80 m (NFGC-25-GC-085)
  • 15.0 g/t Au over 2.70 m from 23.75 m (NFGC-25-GC-058)
  • 19.7 g/t Au over 2.05 m from 4.35 m (NFGC-25-GC-122)
  • 13.3 g/t Au over 2.85 m from 69.15 m (NFGC-25-GC-048)
  • 14.3 g/t Au over 2.60 m from 12.60 m (NFGC-25-GC-107)
  • 11.9 g/t Au over 2.80 m from 65.20 m (NFGC-25-GC-079)
  • 2.21 g/t Au over 11.55 m from 14.10 m (NFGC-25-GC-079)
  • 11.7 g/t Au over 2.20 m from 57.35 m (NFGC-25-GC-079)

• Keats excavation grade control drill program (this press release):
  • 51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)
  • 11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)
  • 9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)
  • 15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)
  • 40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)
  • 16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)
  • 4.22 g/t Au over 10.35 m from 5.65 m (NFGC-25-GC-066)
  • 2.56 g/t Au over 15.95 m from 0.00 m (NFGC-25-GC-100)
  • 14.5 g/t Au over 2.45 m from 10.00 m (NFGC-25-GC-096)
  • 1.41 g/t Au over 20.25 m from 20.45 m (NFGC-25-GC-102)
  • 1.73 g/t Au over 15.45 m from 4.20 m (NFGC-25-GC-062)
  • 2.37 g/t Au over 10.60 m from 23.70 m (NFGC-25-GC-111)

Figure 2: Keats and Iceberg excavations with grade control drill hole highlights.

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Figure 3: Keats longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

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Figure 4: Iceberg longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

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Looking Ahead

The 2025 Queensway drill program included 74,377 m of drilling in 614 DDH, with approximately 75% of the drilling focused on the AFZC to support advancement of the Phase 1 mine plan as outlined in the PEA and 25% focused on exploration targets such as the Dropkick zone (‘Dropkick‘). To date, approximately 45% of the results from 2025 drilling remain outstanding, in addition to channel sampling results from the Lotto excavation. These results will be reported once available.

The 2026 Queensway drill program is underway, with four drill rigs currently active (see the New Found Gold press release dated January 21, 2026). Initial 2026 infill drilling is planned to first target PEA Phase 2 open pit resource conversion, transitioning later in the year to PEA Phase 3 underground resource conversion.

The Company plans to expand its grade control drilling beginning in Q2/26. The next phase of work will leverage results from the 2025 program to optimize drill hole spacing and program scope. This will include completing grade-control drilling at the Iceberg excavation, commencing grade-control drilling at the Lotto excavation and potentially expanding the grade-control drilling at the Keats and Iceberg excavations. The objective of this work is to improve confidence in the distribution of gold mineralization and support mine planning as outlined for the PEA Phase 1 open pits.

Exploration drilling will focus on AFZC resource expansion including an initial grid-based program targeting the prospective corridor adjacent to the AFZ at Bullseye, continued step-outs at Dropkick, located 11 km north of the AFZC, and targeted segments of the AFZ at AFZ Peripheral. A regional drilling program testing advanced targets at Queensway South is in the planning phase and expected to commence in H2/26.

The Company plans to file an updated Technical Report for Queensway, which will include an updated mineral resource estimate, in Q3/26

Table 1: Drill Result Highlights.

Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. Details of all drill holes reported in this press release are included in Table 2 and Table 3 below.

Table 2: Summary of composite drill hole results reported in this press release for Keats and Iceberg.

Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.

Table 3 Details of drill holes reported in this press release.

Sampling, Sub-sampling, and Laboratory

All drilling recovers HQ core. For deep holes, the core size may be reduced to NQ at depth. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.

A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.

Technicians saw the core along the defined cutting line. One half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.

New Found Gold has submitted samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ALS‘) since February 2024. ALS operates under a commercial contract with New Found Gold.

Drill core samples are shipped to ALS for sample preparation in Thunder Bay, Ontario. ALS does not currently have accreditation for the PhotonAssay method at their Thunder Bay, ON laboratory. They do however have ISO/IEC 17025 (2017) accreditation for gamma ray analysis of samples for gold at their Australian labs with this method, including the Canning Vale lab in Perth, WA.

Samples submitted to ALS beginning in February 2024 received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For ‘routine’ samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay.

For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.

Select samples prepared at ALS are also analyzed for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.

Drill program design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal quality assurance programs.

Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found Gold’s quality control protocols.

New Found Gold’s quality control program also includes submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.

The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.

The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

About New Found Gold Corp.

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and the Hammerdown Gold Project, which includes fully permitted milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.

In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.

Through 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.

Contact

For further information on New Found Gold, please visit the Company’s website at www.newfoundgold.ca, contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact:

Follow us on social media at
https://www.linkedin.com/company/newfound-gold-corp
https://x.com/newfoundgold

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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, including relating to the Company’s 2025 drill program on its Queensway Gold Project in Newfoundland and Labrador, Canada, and the timing, results, and interpretation and use of the results; planned reporting of the remaining results from 2025 drilling and channel sampling from the Lotto excavation; the excavation program and the timing and results thereof; future drill and excavation programs and the timing and focus thereof; exploration, drilling and mineralization at Queensway; the extent of mineralization and the continuity of high-grade gold mineralization; the potential conversion of mineral resources; the potential resource expansion; planned filing of an updated Technical Report for Queensway, including a mineral resource update, and the timing thereof; focus on growth and value creation; and the merits of Queensway. 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’, ‘interpreted’, ‘intends’, ‘estimates’, ‘projects’, ‘aims’, ‘suggests’, ‘indicate’, ‘often’, ‘target’, ‘future’, ‘likely’, ‘pending’, ‘potential’, ‘encouraging’, ‘goal’, ‘objective’, ‘prospective’, ‘possibly’, ‘preliminary’, 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 TSXV, 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 the Company’s ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, 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.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.

¹ g/t Au = grams of gold per tonne, m = metres.

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