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New Found Gold & Maritime Resources COMBINATION CREATES EMERGING CANADIAN GOLD PRODUCER TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE New Found Gold Webcast and Conference Call, September 5, 2025
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DISCLAIMER newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC This presentation, and the information contained herein, has been provided to you by New Found Gold Corp. (“New Found Gold”, “NFG”, “NFGC” or the “Company”) and Maritime Resources Corp. (“Maritime” or “MAE”) solely for information purposes. While the information contained in this presentation is believed to be accurate, New Found Gold expressly disclaims any and all liability for any losses, claims or damages of whatsoever kind based upon the information contained in, or omissions from, this presentation or any oral communication transmitted in connection therewith. In addition, none of the statements contained in this presentation are intended to be, nor shall be deemed to be, representations or warranties of the Company. Where the information is from third-party sources, the information is from sources believed to be reliable, but the Company has not independently verified any of such information contained herein. This presentation is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities. Under no circumstances should the information contained herein be considered an offer to sell or a solicitation of an offer to buy any securities. Cautionary Note to United States Investors Regarding the Presentation of Mineral Resource Estimates. As a British Columbia corporation and a “reporting issuer” under Canadian securities laws, we are required to provide disclosure regarding our mineral properties in accordance with Canadian National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure a reporting issuer makes of scientific and technical information concerning mineral projects. In accordance with NI 43-101, we use the terms mineral reserves and mineral resources as they are defined in accordance with the 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves (the “CIM Definition Standards”) adopted by the Canadian Institute of Mining, Metallurgy and Petroleum. In particular, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” used in this presentation, are Canadian mining terms defined in accordance with CIM Definition Standards. These definitions differ from the definitions in the disclosure requirements promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, information contained in this presentation may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements. United States investors are also cautioned that while the SEC will now recognize “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as mineral reserves. Accordingly, investors are cautioned not to assume that any “measured mineral resources”, “indicated mineral resources”, or “inferred mineral resources” that we report are or will be economically or legally mineable. Further, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101. Cautionary Note Regarding Forward Looking Information This presentation contains certain forward-looking statements within the meaning of Canadian securities legislation (the “Forward-looking Statements”), including with respect to the Company’s plans and the Company’s Queensway Project in Newfoundland (the “Queensway Project”); relating to completion of the combination (the "Transaction") by way of plan of arrangement (the "Arrangement") and the anticipated timing thereof; assessments of and expectations for the combined entity after completion of the Arrangement; pro forma ownership of the combined entity; the anticipated premium for Maritime Resources Corp. ("Maritime") shareholders; assessments of and expectations for Hammerdown; assessments of and expectations for Queensway; expectations regarding the existing infrastructure of Maritime; expectations regarding the significant re-evaluation potential; benefits to Maritime shareholders; results of the feasibility study for Hammerdown and the interpretation of such results; future plans for Hammerdown and Pine Cove and the timing thereof; results of the Queensway preliminary economic assessment ("PEA") and interpretation of such results; the annual general special meeting of Maritime shareholders and the anticipated timing thereof; the satisfaction of closing conditions, including receipt of regulatory approvals; and the composition of the New Found Gold board following completion of the Arrangement. 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 not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “indicates,” “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. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the risk that the Transaction will not be approved by the Maritime shareholders; the failure to, in a timely manner, or at all, obtain the required court approval for the Transaction, the failure of the Companies to otherwise satisfy the requisite conditions to complete the Transaction, the possibility that the arrangement agreement may be terminated by one or both of the Companies; the effect of the announcement of the Transaction on each of the Companies’ strategic relationships, operating results and business generally; significant transaction costs or unknown liabilities; the risk of litigation that could prevent or hinder the completion of the Transaction; other customary risks associated with transactions of this nature;possible accidents and other risks associated with mineral exploration operations; the risk that the Company will encounter unanticipated geological factors; risks related to the results and timing of other studies; risks related to the interpretation of assay results and the results of the drilling and exploration programs; the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration and other plans; the risk that the Company will not be able to raise sufficient funds to carry out its 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. 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. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-looking Statements contained in this presentation are expressly qualified in their entirety by this cautionary statement. Compliance with NI 43-101 Unless otherwise indicated, New Found Gold has prepared the scientific and technical information in this presentation (“Technical Information”) based on information contained in the news releases and Technical Report (collectively the “Disclosure Documents”) available under New Found Gold’s profile on SEDAR+ at www.sedarplus.ca. Each Disclosure Document was prepared by or under the supervision of a qualified person (a “Qualified Person”) as defined in NI 43-101. Readers are encouraged to review the full text of the Disclosure Documents which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Disclosure Documents are each intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Information is subject to the assumptions and qualifications contained in the Disclosure Documents. Disclosure Documents include the news release titled “NI 43-101 Technical Report for the Queensway Gold Project, Newfoundland and Labrador, Canada”, dated Sept. 2, 2025; the news release titled “New Found Reports Positive Phase 1 Metallurgical Test Results Demonstrating 90% to 96% Gold Extraction at Queensway”, dated April 3, 2024; the news release entitled “New Found Reports Positive Phase II Metallurgical Test Results Demonstrating 97% Gold Extraction at Iceberg and Iceberg East”, dated November 1, 2024; and the technical report titled “43-101 Technical Report for the Queensway Gold Project, Newfoundland and Labrador, Canada”, dated April 15, 2025, as amended and restated on May 20, 2025, with an effective date of March 18, 2025, prepared by Pierre Landry, P.Geo., Lance Engelbrecht, P.Eng., and David M. Robson, P.Eng., of SLR Consulting (Canada) Ltd., in conjunction with Sheldon H. Smith, P.Geo. of Stantec Consulting, each independent qualified persons under NI 43-101 (the “Technical Report”). Melissa Render, P.Geo., President of New Found Gold, and a Qualified Person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained in this presentation relating to New Found Gold. Ms. Render has verified the data disclosed herein, including sampling, analytical and test data underlying the technical information contained herein. Garret Macdonald, P.Eng., President, CEO and Director of Maritime, and a Qualified Person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained in this presentation relating to Maritime. Mr. Macdonald has verified the data disclosed herein, including sampling, analytical and test data underlying the technical information contained herein. The disclosure regarding the Hammerdown Proven and Probable mineral reserves contained in this presentation is supported by Maritime’s technical report titled “Feasibility Study Technical Report Hammerdown Gold Project” dated effective August 15, 2022, with a report date of October 6, 2022 prepared by JDS Energy & Mining Inc. (the “Hammerdown Technical Report”).
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THE NEW FOUND GOLD ADVANTAGE ROBUSTPEA AT QUEENSWAY At surface, high-grade core is the key to rapid advancement to cashflow PATHTO PRODUCTION Phased approach minimizes dilution to shareholders | low initial CapEx | fast payback EXPLORATION UPSIDE Significant resource expansion potential, both near MRE and camp scale over a 110 km strike extent TIER 1 JURISDICTION Infrastructure| skilled workforce| mining positive government STRONG TREASURYAND EXPERIENCED LEADERSHIP $67.5M treasury1 | new team of mine developers and operators 1 as at June 30, 2025
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1 Independent, 2 Lead Director; * Maritime nominee to be added at closing William Hayden1, 2 Vijay Mehta1 T amaraBrown1 Chad Williams1 Paul Huet Chair Keith Boyle Melissa Render BOARD OF DIRECTORS* MANAGEMENT New Found Gold has a new board and management team with a solid track record of successful mine development and operation Since day one, the objective of the new management team at New Found Gold has been to advance Queensway to cash flow. KEITH BOYLE, CEO Photo: PaulHuet (left), Keith Boyle (right) Keith Boyle CEO Melissa Render President Michael Kanevsky CFO Fiona Childe Ph.D. VP Communications and Corporate Development Jared Saunders Ph.D. VP Sustainability Robert Assabgui Study Manager DIRECTORS & SENIOR LEADERSHIP
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STRATEGIC COMBINATION newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE ADDITION OF HAMMERDOWN, A HIGH-GRADE, IMMINENTLY PRODUCING GOLD PROJECT IN CENTRAL NEWFOUNDLAND • Hammerdown is anticipated to ramp up to full production in early 2026, with mineralized stockpiles currently being processed at Pine Cove HAMMERDOWN CASH FLOW TO SUPPORT QUEENSWAY DEVELOPMENT • Near-term expected cash flow from Hammerdown is expected to fund a material portion of the initial capex for Queensway CREATION OF AN EMERGING CANADIAN GOLD PRODUCER • Hammerdown production targeted for 2026 and Queensway Phase 1 production targeted for 2027, complimented by the rising gold price environment, creates a new emerging Canadian gold producer OPERATIONAL SYNERGIES GIVEN PROXIMITY OF ASSETS • Maritime’s existing infrastructure, including Pine Cove Mill and Nugget Pond HGP, secures offsite processing facilities for Queensway as envisioned in the Queensway PEA SIGNIFICANT RE-RATE POTENTIAL • Significant re-valuation opportunity due to the addition of near-term production and cash flow, the unlocking of significant operational synergies, and increased scale and capital markets presence
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TRANSACTION TERMS newfoundgold.ca Transaction • New Found Gold to acquire all of the issued and outstanding common shares of Maritime that it does not already own • The implied equity value of the Transaction is approximately $292 million on a fully-diluted in-the-money basis Consideration • Each holder of the common shares of Maritime (other than New Found Gold) will receive 0.75 of a New Found Gold common share (the “Exchange Ratio”) in exchange for each Maritime share at the effective time of the Transaction • Premium of 32% based on the 20-day VWAP of Maritime Shares on the TSX-V and a premium of 56% to the closing price of Maritime Shares on July 30, 2025, the last trading day prior to entry into a letter of intent between the parties in respect of the Transaction • All outstanding Maritime stock options will be exchanged for New Found Gold options exercisable for New Found Gold and warrants will become exercisable for New Found Gold Shares, with the number of New Found Gold Shares issuable on exercise and the exercise price adjusted in accordance with the Exchange Ratio Approvals & Key Conditions • The Board of Directors of Maritime has unanimously approved the transaction and recommends shareholders to vote in favour • Requires approval by: o 66 2/3% of the votes cast by Maritime shareholders o 66 2/3% of the votes cast by Maritime shareholders and holders of voting as a single class o If required, a simple majority of the votes cast by Maritime shareholders that excludes those votes required to be excluded in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions • Each of the directors and senior officers of Maritime, Dundee Resources Limited, Eric Sprott and SCP Resource Partners representing in aggregate approximately 49% of the issued and outstanding Maritime Shares, have entered into voting and support agreements with New Found Gold and have agreed to vote in favour of the Transaction at the Annual and Special Meeting in accordance with those agreements • Customary court and stock exchange approval and the satisfaction of certain other closing conditions customary for a transaction of this nature Other • Customary deal protections, including Maritime non-solicitation covenant and New Found Gold right to match superior proposals • Termination fee of C$13 million payable to New Found Gold in certain customary circumstances • Expense reimbursement payable by New Found Gold or Maritime in certain circumstances Timing • Expected to close in the fourth quarter of 2025 TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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newfoundgold.ca PRO FORMA CAPITALIZATION Note: Debt excludes lease liabilities. 1. As of June 30, 2025 2. Includes adjustment for closing of C$20 mm private placement. 3. Implied consideration based on New Found Gold’s closing share price on the TSX-V on September 4, 2025. 4. Adjusted for C$11.5 mm private placement and repayment of senior secured notes. 5. Excludes shares already owned by New Found Gold. TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE Share Price (C$) C$2.60 C$1.95 C$2.60 Basic Shares Outstanding (mm) 243 124 336 F.D. ITM Shares Outstanding (mm) 247 150 359 F.D. ITM Market Capitalization (C$ mm) C$642 C$292 C$934 F.D. ITM Ownership (%) 69% 31% 100% Cash & Cash Equivalents (C$ mm) C$86 C$23 C$109 Debt (C$ mm) -- -- -- (1,2) (1) (3) (5) (1,4) (1,4) (5)
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newfoundgold.ca HAMMERDOWN OVERVIEW TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE NEAR-TERM PRODUCTION IN A RISING GOLD PRICE ENVIRONMENT Fully Permitted Mine and Mill • High grade, open pit gold project in a Tier 1 Jurisdiction • Production planned for 2025 at record high gold prices: brownfield site currently in construction • Hammerdown ramping up to full production in early 2026: feed will be processed at the Pine Cove mill starting in fall of 2025, • In Progress: $15-20M capital costs for initial production, including mine site earthworks, pre-stripping, crushing, infrastructure and mill upgrades • 2022 Feasibility Study1 Highlights: 50 koz annual production at a US$912/oz AISC2 • Proven and Probable mineral reserves: 1.9Mt @ 4.46 g/t Au (272k oz)3 1 Maritime’s technical report titled “Hammerdown Feasibility Study Technical Report Hammerdown Gold Project” dated effective August 15, 2022, with a report date of October 6, 2022 prepared by JDS Energy & Mining Inc., 2 See additional notes on non-GAAP measures and AISC in the Appendix, 3 See additional information in the Appendix pertaining to Maritime’s Mineral Reserve Estimate.
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1 After-tax NPV is a non-GAAP measure. 2 Denotes a “specified financial measure” within the meaning of National Instrument 52-112 – non-GAAP and Other Financial Measures” . 3 All-in Sustaining Costs (AISC) is a non-GAAP measure. AISC is calculated as the sum of treatment and refining charges, royalties, onsite operating costs, sustaining capital costs, and closure costs, divided by the quantity of ounces sold. See additional notes on non-GAAP measures and AISC in the Appendix. QUEENSWAY OVERVIEW TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE High-Grade Core = Low Capital-Intensive Phased Approach Rapid Advancement to Cash Flow • Phase 1: 700 tpd high-grade open pit mine/custom mill • Phase 2: 7,000 tpd open pit mine/on-site processing • Phase 3: addition of underground mine • In-pit tailings deposition • Solid low-cost production profile from year one via a phased mine plan: • Phase 1: Low Initial capital cost of $155 million, builds average annual gold production2 of 69.3koz oz Au at an AISC3 of US$1,282/oz Au in Years 1 to 4 planned to fund Phase 2. • Phase 2: Growth capital of $442 million, builds average annual gold production of 172.2koz Au at an AISC of US$1,090/oz Au in Years 5 to 9, paid back in less than one year. • Significant leverage to gold price: After-tax NPV5% 1 increases to $1.45 billion from $743 million and IRR increases to 197% from 56.3% when gold price raised to US$3,300/oz Au from base case of US$2,500/oz Au. • Total production: 1.5 Moz Au over a 15-year LOM at an average total cash cost of US$1,085/oz Au and an AISC of US$1,256/oz Au. • Exploration upside: Significant resource expansion potential, both near-MRE and camp scale over 110 km strike extent. newfoundgold.ca
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Average Annual Gold Production LOM Years 1-4 Years 5-9 ~100 ~69 ~172 koz newfoundgold.ca QUEENSWAY DEVELOPMENT TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE HAMMERDOWN CASH FLOW TO SUPPORT PHASE 1 CAPEX After-tax Cash Flow – Base Case US$2,500/oz Au Production and AISC1 Profile CapEx by Category Initial Capital (Phase 1 Toll Mill) Growth Capital (QWY Process Plant) Growth Capital (UG Mine) $154.8 $442.2 $142.7 C$ millions ~C$155M of initial capital unlocks average annual production of 172 koz Au (Years 5-9) Base Case: US$2,500/ozAu Annual Cumulative Upside Case: US$3,300/ozAu Annual Cumulative $- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 - 50 100 150 200 250 YR 1 YR 2 YR 3 YR 4 YR 5 YR 6 YR 7 YR 8 YR 9 YR 10 YR 11 YR 12 YR 13 YR 14 YR 15 AISC(1) US$/oz Au Annual Gold Production by Phase (koz) Phase 1 Phase 2 Phase 3 AISC 1 All-in Sustaining Costs (AISC) is a non-GAAP measure. AISC is calculated as the sum of treatment and refining charges, royalties, onsite operating costs, sustaining capital costs, and closure costs, divided by the quantity of ounces sold. See additional notes on non-GAAP measures and AISC in the Appendix
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NEWFOUNDLAND FOCUSED newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE ACCESS TO INFRASTRUCTURE Trans-Canada highway, renewable power, Gander International airport, and proximity to deep shipping ports GOVERNMENT SUPPORT New legislation demonstrates commitment to tighten permitting timelines for well-planned, stakeholder- focused, financially beneficial projects. Source: Fraser Institute TIER 1 JURISDICTION Consistently ranked a top 10 mining jurisdiction globally1 SKILLED WORKFORCE Skilled workforce in a business-friendly jurisdiction
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Pine Cove Mill • Fully permitted mill and tailings facility, which restarted mineral processing of existing stockpiles in February 2025 • Mill rated for throughput of 1,300 tonnes per day • Processing will transition to Hammerdown feed in the second half of 2025 • Carbon-in-pulp gold circuit with capacity of 700 tonnes per day • Built in 1995 by Richmont Mines and operated as a gold plant for over 10 years • Currently idled, previously processed ore from Hammerdown mine with a 95.5% recovery rate • PEA-stage gold project with production expected to begin in 2027 • Phased development strategy over a 15 year mine life, beginning with open pit mining and integrating underground operations in years 6 - 10 newfoundgold.ca HIGHLY COMPLEMENTARY ASSETS TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE Image of Hammerdown -NFG/MAE to provide • Brownfield open-pit project currently in construction with ramped up production in early 2026 • Feed expected to be processed at the fully permitted Pine Cove mill • 2022 FS highlights 50 koz annual gold production POTENTIAL TO REALIZE SIGNIFICANT SYNERGIES Hammerdown Queensway Nugget Pond Mill
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newfoundgold.ca SIGNIFICANT RE-RATING POTENTIAL COMBINATION UNLOCKS SHAREHOLDER VALUE Unlocking of Operational Synergies Access to permitted mill and tailings storage facility, experienced workforce and experienced development team Canadian Focus: Tier 1 Jurisdiction Exposure to two high-quality Canadian assets in Newfoundland and Labrador Increased Scale & Capital Markets Presence 2026: Hammerdown annual production of 50koz targeted 2027: Queensway Phase 1annual production of 69.3koz targeted text Imminent Production & Cash Flow Hammerdown is anticipated to ramp up to full production in early 2026 with cash flow to fund a material portion of Phase I CapEx for Queensway TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE text
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$0.3 $0.5 $0.9 $1.6 $2.7 $2.9 $3.5 $5.7 $6.7 $7.0 West Red Lake Probe New Found Gold Snowline Skeena Wesdome Discovery Silver SSR Mining New Gold Artemis Producing Developer 68 195 210 222 255 260 341 345 350 West Red Lake New Found Gold Wesdome Artemis Discovery Silver Probe Skeena Snowline New Gold SSR Mining Producing - 2025E Guidance (Midpoint) Developer - Technical Report LOM Avg. newfoundgold.ca ATTRACTIVELY POSITIONED TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE EMERGING CANADIAN GOLD PRODUCER Market Capitalization (C$ billion) Source: Company filings, FactSet Note: Peer data based on i) midpoint of guidance for producers and ii) the LOM average from latest technical report on the primary asset for developers. 1. Hammerdown average gold production from the 2022 Feasibility Study. 2. Queensway average gold production from the 2025 PEA during phase I (years 1 – 4). 3. Blackwater is currently ramping up, 2021 Feasibility study contemplates phase I (years 1-5) average annual gold production of 321 koz gold. 4. Based on 2025 gold production from the 2025 Porcupine Complex Preliminary Economic Assessment. (3) Annual Gold Production (koz Au) Path to >100 koz Production ~50(1) Significant re-rate potential as Hammerdown and Queensway enter production ~69(2) (4) (Pro forma)
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Eric Sprott 19% Dundee 10% Eric Sprott 6% Dundee 40% newfoundgold.ca STRONG SUPPORT FROM CORNERSTONE SHAREHOLDERS TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE Cornerstone Shareholders • The major shareholders of both companies strongly support the transaction • Voting support agreements have been received from Maritime’s largest shareholders; Dundee Corporation and Eric Sprott • Eric Sprott, also New Found Gold’s largest shareholder, has a long track record of investing successfully in the precious metals mining space • Dundee Corporation, Maritime’s largest shareholder, is a public and independent Canadian mining-focused holding company Combined Entity Note: Ownership shown on a basic basis Eric Sprott 23%
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BENEFITS TO SHAREHOLDERS newfoundgold.ca Benefits to New Found Gold Shareholders Benefits to Maritime Shareholders ✓Addition of Hammerdown, a high-grade, near-term producing gold project in central Newfoundland ◼ Hammerdown is anticipated to ramp up to full production in early 2026, with mineralized stockpiles currently being processed at the Pine Cove mill ✓Cash flow generated from Hammerdown will support Queensway development getting the site into the production phase by 2027 ◼ A material portion of capex will be funded by these cash flows ✓Creation of an emerging Canadian gold producer ◼ Hammerdown production targeted for 2026 and Queensway Phase 1 production targeted for 2027 ✓Significant operational synergies given proximity of assets ◼ Benefit from Maritime’s existing infrastructure, including Pine Cove and Nugget Pond, securing the offsite processing facilities for Queensway ✓Significant re-rate potential ◼ Addition of near-term production and cash flow, the unlocking of significant operational synergies and increased scale and capital markets presence ✓Immediate and significant premium to Maritime shareholders of 32% on a 20-day VWAP basis and a premium of 56% to the closing price of Maritime Shares on July 30, 2025, the last trading day prior to entry into a letter of intent between the parties in respect of the Transaction ✓Exposure to two high-quality Canadian assets in a Tier 1 jurisdiction ◼ Maritime shareholders retain exposure to Hammerdown while gaining exposure to New Found Gold’s high-grade, low CapEx Queensway Gold Project in central Newfoundland ✓Significant re-valuation opportunity to provide further upside for Maritime shareholders ◼ Hammerdown production targeted for 2026 and Queensway Phase 1 production targeted for 2027 ◼ Transaction unlocks significant operational synergies including a highly experienced and successful exploration team ✓Improved visibility and trading liquidity ◼ New Found Gold shares are highly liquid (~C$4 million per day over the last six months on Canadian and U.S. exchanges) ◼ Maritime shareholders would have the optionality to realize cash proceeds for their investment should they choose TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE SIGNIFICANT OPPORTUNITY TO CREATE VALUE
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newfoundgold.ca Q&A TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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Corporate Address: 1055 West Georgia Street, Suite 2129 Vancouver, BC, Canada V6E 3P3 https://www.linkedin.com/company/ maritime-resources-corp/ info@maritimegold.com Garett Macdonald | MBA, P.Eng. President and CEO newfoundgold.ca +1 (416) 365-5321 CONTACT https://www.linkedin.com/company/ newfound-gold-corp contact@newfoundgold.ca Fiona Childe | Ph.D., P .Geo. VP , Communications & Corporate Development +1-416-910-4653 CONTACT Corporate Address: 3200 West Georgia Street, Suite 650 Vancouver, BC, Canada V6B 4P7 TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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newfoundgold.ca APPENDIX TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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QUEENSWAY PEA OVERVIEW Growth Potential: • AFZ Core covers a 4.3 km extent of the 110 km strike extent of the mineralized system • 70,000 m drill program underway: continuing to drill high-grade targets outside the initial MRE • District-scale land package: strike, depth and camp potential Phased Approach Focused on Rapid Advancement to Cash Flow: • Small mine to large mine • Conventional open pit mining with supplemental cut and fill underground • At-surface high-grade core in several key zones provides early cash flow through on-island custom milling • Phase 1: 700 tpd high-grade open pit mine with custom mill • Phase 2: 7,000 tpd open pit mine with on-site processing • Phase 3: addition of underground mine • Multiple pits utilizes In-pit tailings deposition newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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TSX-V: NFG | 21 2 1 PEA HIGHLIGHTS: BASE CASE PRODUCTION(2) COSTS ECONOMICS ~69.3 Koz/yr Years 1-4 C$155M Initial Capital Cost (Phase 1) $743M After-Tax NPV5% @ US$2,500 ~172.2 Koz/yr Years 5-9 C$585M Growth Capital (Phases 2/3) ~172.2 Koz/yr56.3%~ After-Tax IRR 1.5 Moz Over 15 Year Mine Life US$1,256/oz LOM AISC(3) <2 Year After-Tax Payback 1 After-tax NPV is a non-GAAP measure. 2 Denotes a “specified financial measure” within the meaning of National Instrument 52-112 – non-GAAP and Other Financial Measures Measures”. 3 All-in Sustaining Costs (AISC) are a non- GAAP measure. AISC is calculated as the sum of treatment and refining charges, royalties, onsite operating costs, sustaining capital costs, and closure costs, divided by the quantity of ounces sold. See additional notes on non-GAAP measures and AISC in the Appendix. Significant leverage to the gold price: After-tax NPV5%(1) increases to $1.45B and IRR increases to 197% when gold price is raised to US$3,300/oz Au Significant leverage to the gold price:
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TSX-V: NFG | 22 2 2 QUEENSWAY MINERAL RESOURCE ESTIMATE newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE Mineral Resource Estimate - Queensway (Effective Date: March 15, 2025) Zone Category Tonnage Grade Contained Gold (kt) (g/t Au) (koz) Indicated 17,267 2.25 1,249 Inferred 8,960 1.24 358 Indicated 771 5.76 142 Inferred 1,749 4.44 250 Indicated 18,038 2.40 1,392 Inferred 10,709 1.77 608 Underground Resources Open Pit Resources Total Notes: 1. CIM (2014) definitions were followed for Mineral Resources. 2. Mineral Resources are estimated using a long -term gold price of US$2,200 per ounce, and a US$/C$ exchange rate of US$1.00 = C$1.43. 3. Open pit Mineral Resources are estimated at a cut -off grade of 0.3 g/t Au and constrained by a preliminary optimized pit shell with a pit slope angle of 45°, and bench height of 5 m. 4. RPEEE (as defined below) for underground Mineral Resources was demonstrated by constraining within reporting panels generated at a cut-off grade of 1.65 g/t Au, with heights (H) of 10 m, lengths (L) of 5 m and minimum widths of 1.8 m. 5. The optimized pit shell, underground reporting shapes, and cut -off grades were generated by assuming metallurgical recovery of 90%, standard treatment and refining charges, mining costs of C$5.0/t moved for open pit and C$120/t processed for underground, p rocessing costs of C$20/t processed, and general and administrative costs of C$7.5/t processed. 6. Pierre Landry, P.Geo. of SLR, an independent Qualified Person who prepared the initial MRE is not aware of any environmental, permitting, legal, title, taxation, socio -economic, marketing, political, or other relevant factors that could materially affect the Mineral Resource estimate 7. Bulk density within the vein and halo mineralization domains is 2.7 t/m³. 8. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 9. Numbers may not add due to rounding.
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TSX-V: NFG | 23 2 3 HAMMERDOWN MINERAL RESERVES & RESOURCE ESTIMATE Mineral Reserve Estimate - Hammerdown (Effective Date: August 15, 2022) Zone Tonnage Grade Contained Gold (kt) (g/t Au) (koz) Proven 556 5.94 106 Probable 1,340 3.85 166 Total Proven and Probable 1,895 4.46 272 Mineral Resource Estimate - Hammerdown (Effective Date: June 30, 2022) Zone Category Tonnage Grade Contained Gold (kt) (g/t Au) (koz) Measured 698 5.47 123 Indicated 2,146 3.00 207 Measured + Indicated 2,845 3.61 330 Total Inferred 302 1.31 13 Measured 1 7.05 -- Indicated 54 5.10 9 Measured + Indicated 55 5.10 9 Total Inferred 66 4.00 9 Measured + Indicated 2,900 3.63 339 Inferred 368 1.84 22 Open Pit Resources Underground Resources Total Notes: 1. Mineral Reserve Estimate completed by Tysen Hantelmann of JDS Energy & Mining (“JDS”), an independent QP as defined by NI 43-101. 2. Effective date; August 15, 2022. All Mineral Reserves have been estimated in accordance with CIM definitions required under NI 43-101. 3. Mineral Reserves are estimated at a gold cut-off of 0.73 g/t for Veins and 1.06 g/t for Wisteria Zone based on: gold price of US$1,650/oz; exchange rate of $0.77 US$:C$; combined transport, treatment, payables and royalties of US$25/oz; an overall metallurgical recovery (including ore sorting) of 90.25% for Veins and 85.5% for Wisteria; and an overall processing operating cost of C$45/t ore mined for Veins and C$62/t ore mined for Wisteria. 4. The final FS pit design contains an additional 94 kt of Inferred resources above the economic cut-off grade at an average grade of 1.62 g/t Au. Inferred Mineral Resources are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that any part of the Inferred Resources could be converted into Mineral Reserves. 5. Tonnages are rounded to the nearest 1,000 t, gold grades are rounded to two decimal places. Tonnage and grade measurements ar e in metric units;contained gold is reported as thousands of troy ounces. Notes: 1. Mineral Resource Estimate completed by Pierre Landry, P.Geo., of SLR Consulting (Canada) Ltd. (SLR), an independent qualified person (“QP”), as defined by NI 43-101. 2. Effective date: June 30, 2022. All Mineral Resources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum ("CIM") definitions, as required under NI 43-101. 3. Open Pit Mineral Resources are inclusive of Mineral Reserves 4. Open Pit Mineral Resources are estimated at a cut-off grade of 0.50 g/t Au. 5. Open Pit Mineral Resources are reported at a block cut-off from whole blocks measuring 2.5 m x 1.0 m x 2.5 m. 6. Mineral Resources are estimated using a long-term gold price of US$1,800 per ounce, and a US$/C$ exchange rate of 0.75. 7. Bulk density is 2.84 t/m3 for rock and 1.90 t/m3 for mined out areas. 8. Underground Mineral Resources are estimated at a cut-off grade of 2.00 g/t Au. 9. Underground Resources are reported at a block cut-off from whole blocks measuring 2.5 m x 1.0 m x 2.5 m and have been subject to additional reporting shapes to remove isolated blocks. 10. Numbers may not add due to rounding. 11. Mineral Resources reported demonstrate reasonable prospect of eventual economic extraction, as required under NI 43-101. 12. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. 13. The Mineral Resources may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE
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NON-GAAP MEASURES Non-GAAP Financial Measures The Companies have included certain non-GAAP financial measures in this presentation, including AISC, cash cost, cash cost per ounce and cash flow. These financial measures are not defined under IFRS and should not be considered in isolation. The Companies believe that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Companies. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers. All-in Sustaining Cost All-in sustaining cost is a non-GAAP financial measure calculated based on guidance published by the World Gold Council (“WGC”). The WGC is a market development organization for the gold industry and is an association whose membership comprises leading gold mining companies. Although the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these metrics. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company. Cash Costs and Cash Cost per Ounce Cash Costs are reflective of the cost of production. Cash Costs reported in the Hammerdown Feasibility Study include mining costs, processing and water treatment costs, general and administrative costs of the mine, refining and transportation costs, silver revenue credits and royalties. Cash Costs per Ounce is calculated as Cash Costs divided by payable gold ounces. Free Cash Flow Free Cash Flows are revenues net of operating costs, royalties, working capital adjustments, capital expenditures and cash taxes. The Companies believe that this measure is useful to the external users in assessing the Company’s ability to generate cash flows from the project. newfoundgold.ca TSX-V: NFG | NYSE-A: NFGC TSX-V: MAE