Lode Gold Closes $1.51 Million Upsized Non-public Placement

(All quantities expressed in Canadian {dollars} except said in any other case)

New Discovered Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (“New Discovered Gold”) and Maritime Assets Corp. (TSXV: MAE,OTC:MRTMD) (“Maritime” and collectively with New Discovered Gold, the “Corporations”) are happy to announce that the Corporations have entered right into a definitive settlement (the “Association Settlement”), pursuant to which New Discovered Gold has agreed to accumulate all the issued and excellent widespread shares of Maritime that it doesn’t already personal (the “Transaction”) by the use of a plan of association (the “Association”).

New Discovered Gold and Maritime will host a joint convention name and webcast to debate the Transaction commencing at 10 am Japanese Time on Friday, September 5, 2025. Particulars for the convention name and webcast are included on the finish of this information launch.

The Transaction will create a multi-asset near-term gold producer in a tier 1 jurisdiction with vital regional synergies throughout its portfolio. Each New Discovered Gold’s Queensway Gold Undertaking (“Queensway” or the “Undertaking“) and Maritime’s Hammerdown Gold Undertaking (“Hammerdown“) are positioned in central Newfoundland, Canada. New Discovered Gold delivered a optimistic preliminary financial evaluation (“PEA“) for Queensway in July 2025 and is concentrating on Section I manufacturing from a low capital-intensive high-grade core in 2027¹. Hammerdown, positioned 180 kilometres (“km“) northwest of Queensway, is focused to ramp as much as full manufacturing in early 2026. The mixed entity is anticipated to create vital operational synergies by out there infrastructure, together with the Pine Cove Mill (“Pine Cove“) and the Nugget Pond Hydrometallurgical Gold Plant (“Nugget Pond HGP“), and anticipated money circulation from Hammerdown as soon as in full manufacturing to help Queensway’s growth (Determine 1).

Keith Boyle, CEO and Director of New Discovered Gold said: “From day one, the main focus of our new board and administration crew has been to quickly advance to money circulation and rework New Discovered Gold from an exploration firm to a gold producer. This acquisition positions New Discovered Gold as an rising producer with gold manufacturing anticipated to begin subsequent yr. The synergies obtained by this mix derisks Queensway, offering entry to a milling facility and near-term money circulation to help Section I growth, setting the stage for Queensway to begin manufacturing in 2027. We stay up for the profitable completion of this transaction and offering manufacturing steerage in the end.”

Garrett Macdonald, President, CEO and Director of Maritime said: “This transaction gives Maritime shareholders with a near-term premium provide and a longer-term alternative to be a part of a a lot bigger Canadian gold story. Bringing the 2 firm’s property collectively will unlock operational synergies, producing money circulation by using each Maritime gold vegetation to fund future progress at Hammerdown, Queensway, and aggressive exploration throughout all land holdings. This transaction acknowledges the numerous efforts of Maritime’s crew to deliver Hammerdown on-line and gives a wonderful end result for Maritime shareholders.”

Beneath the phrases of the Association Settlement, every holder of the widespread shares of Maritime (every, a “Maritime Share“) will obtain 0.75 of a New Discovered Gold widespread share (every complete share, a “New Discovered Gold Share“) in alternate for every Maritime Share (the “Alternate Ratio“) on the efficient time of the Transaction. New Discovered Gold at the moment owns roughly 0.1% of the Maritime Shares. At closing of the Transaction, current New Discovered Gold and Maritime shareholders will personal roughly 69% and 31%, respectively, of the professional forma firm on a fully-diluted in-the-money foundation.

The Alternate Ratio implies a premium of 32% primarily based on the 20-day VWAP of Maritime Shares on the TSX Enterprise Alternate as at September 4, 2025, the final buying and selling day earlier than announcement of the Transaction, and a premium of 56% to the closing worth of Maritime Shares on July 30, 2025, the final buying and selling day previous to entry right into a letter of intent between the events in respect of the Transaction. The implied fairness worth of the Transaction is roughly $292 million on a fully-diluted in-the-money foundation.

Determine 1. Queensway, Hammerdown, Pine Cove and Nugget Pond HGP location map

To view an enhanced model of this graphic, please go to:
https://photos.newsfilecorp.com/information/4548/265240_cf47af11641798fc_001full.jpg

Strategic Rationale for New Discovered Gold

• Addition of Hammerdown, a high-grade, near-term producing gold challenge in central Newfoundland: Hammerdown is anticipated to ramp as much as full manufacturing in early 2026, with mineralized stockpiles at the moment being processed at Pine Cove; the 2022 Feasibility Research for Hammerdown highlights 50,000 ounces (“oz“) of annual gold manufacturing at an all-in sustaining price (“AISC“)² of US$912/oz Au
• Hammerdown money circulation to help Queensway growth: Close to-term anticipated money circulation from Hammerdown is anticipated to fund a cloth portion of the capex for Queensway
• Creation of an rising Canadian gold producer: Hammerdown manufacturing focused for 2026 and Queensway Section 1 manufacturing focused for 2027
• Important operational synergies given proximity of property: New Discovered Gold is anticipated to learn from Maritime’s current infrastructure, together with Pine Cove and Nugget Pond HGP, securing the offsite processing services for Queensway as envisioned within the Queensway PEA
• Important re-rate potential: Important re-valuation alternative because of the addition of near-term manufacturing and money circulation, the unlocking of serious operational synergies, and elevated scale and capital markets presence.

Advantages to Maritime Shareholders

• Speedy and vital premium to Maritime shareholders: 32% on a 20-day VWAP foundation as at September 4, 2025, and a premium of 56% to the closing worth of Maritime Shares on July 30, 2025, the final buying and selling day previous to entry right into a letter of intent between the events in respect of the Transaction
• Publicity to 2 high-quality Canadian property in a Tier 1 jurisdiction: Maritime shareholders retain publicity to Hammerdown whereas gaining publicity to New Discovered Gold’s high-grade, low capex Queensway in central Newfoundland, with preliminary manufacturing focused for 2027
• Important re-valuation alternative to offer additional upside for Maritime shareholders: Hammerdown manufacturing focused for 2026 and Queensway Section 1 manufacturing focused for 2027, whereas additionally benefitting from the unlocking of serious operational synergies together with a extremely skilled and profitable exploration crew
• Improved Visibility and Buying and selling Liquidity: New Discovered Gold is a well known, superior exploration firm listed on each the TSX Enterprise Alternate (NFG) and NYSE American (NFGC) and its shares are extremely liquid (volumes of ~$4 million per day over the past six months on Canadian and U.S. exchanges).

About Hammerdown

Hammerdown is a 100% Maritime-owned excessive grade, open pit gold challenge positioned within the Baie Verte District of central Newfoundland, roughly 5 km southwest of the city of King’s Level and 15 km northwest of the city of Springdale in Newfoundland and Labrador, Canada. Hammerdown is a former underground mine operated by Richmont Mines Inc. from 2000 to 2004, averaging 15.7 grams of gold per tonne (“g/t Au“) and producing 143,000 oz of gold at a minimize off grade of 8.2 g/t Au. Hammerdown comprises confirmed and possible mineral reserves of 1.9 Mt at a grade of 4.46 g/t Au, for 272,000 oz contained gold. In 2022, Maritime launched a feasibility examine for Hammerdown, highlighting 50,000 oz of annual manufacturing, a $251M internet current worth (“NPV“) at a base case US$2,500 per ounce of gold (“oz Au”) and an AISC of US$912/oz Au. In 2023, Maritime bought the Level Rousse challenge for $4M, which included Pine Cove, which is anticipated to offer vital capital price and time financial savings for the event of Hammerdown. Further element concerning Hammerdown is supplied beneath. Hammerdown and Pine Cove are absolutely permitted, with feed from Hammerdown being processed at Pine Cove beginning within the fall of 2025, and the target of ramping as much as full manufacturing in early 2026.

About Queensway

New Discovered Gold’s 100% owned Queensway is positioned in Newfoundland and Labrador, Canada. roughly 15 km west of Gander and close by the city of Appleton.

New Discovered Gold has accomplished an preliminary mineral useful resource estimate (“MRE”) and PEA at Queensway (see New Discovered Gold information releases dated March 24, 2025 and July 21, 2025). Highlights of the PEA embody:

• Stable low-cost manufacturing profile from yr one by way of a phased mine plan:
  • Section 1: Low Preliminary capital price of $155 million, builds common annual gold manufacturing of 69.3koz Au at an AISC of US$1,282/oz Au in Years 1 to 4 deliberate to fund Section 2.
  • Section 2: Development capital of $442 million, builds common annual gold manufacturing of 172.2koz Au at an AISC of US$1,090/oz Au in Years 5 to 9, paid again in lower than one yr.
• Early income potential: Preliminary gold manufacturing focused for 2027 pending regulatory approval.
• Important leverage to gold worth: After-tax NPV_5%will increase to $1.45 billion from $743 million and inside fee of return (“IRR”) will increase to 197% from 56.3% when gold worth raised to US$3,300/oz Au from base case of US$2,500/oz Au.
• Whole manufacturing: 1.5 Moz Au over a 15-year lifetime of mine (“LOM”) at a mean whole money price of US$1,085/oz Au and an AISC of US$1,256/oz Au.
• Exploration upside: Important useful resource growth potential, each near-MRE and camp scale over 110 km strike extent

Further particulars concerning Queensway and the outcomes of the PEA are contained within the technical report on the PEA, which is offered on SEDAR+ underneath New Discovered Gold’s profile.

Transaction Abstract

Beneath the phrases of the Transaction, New Discovered Gold will purchase all of the issued and excellent Maritime Shares and Maritime shareholders will obtain 0.75 of a New Discovered Gold Share for every current Maritime Share held. All excellent Maritime inventory choices will probably be canceled and exchanged for New Discovered Gold choices exercisable for New Discovered Gold Shares and all excellent Maritime warrants will turn into exercisable for New Discovered Gold Shares, with the variety of New Discovered Gold Shares issuable on train and the train worth adjusted in accordance with the Alternate Ratio.

The Transaction will probably be carried out by the use of a court-approved Association underneath the Enterprise Companies Act (British Columbia) and a decision to approve the Transaction will probably be submitted to Maritime shareholders and holders of Maritime inventory choices at an annual basic and particular assembly of shareholders anticipated to be held in late October 2025 (the “Particular Assembly“). The Transaction would require approval by (i) 66 2/3% of the votes solid by Maritime shareholders, (ii) 66 2/3% of the votes solid by Maritime shareholders and holders of choices voting collectively as a single class, and (iii) if required, a easy majority that excludes these not entitled to vote in accordance with Multilateral Instrument 61-101 – Safety of Minority Safety Holders in Particular Transactions. Every of the administrators and senior officers of Maritime, Dundee Assets Restricted, Eric Sprott and SCP Useful resource Companions representing in mixture roughly 49% of the issued and excellent Maritime Shares, have entered into voting and help agreements with New Discovered Gold and have agreed to vote in favour of the Transaction on the Particular Assembly in accordance with these agreements. New Discovered Gold shareholder approval will not be required.

Along with Maritime shareholder and courtroom approval, the Transaction can be topic the satisfaction of sure different closing circumstances customary for a transaction of this nature, together with receipt of customary inventory alternate approvals. The Transaction is anticipated to be accomplished within the fourth quarter of 2025. The Maritime Shares are anticipated to be delisted from the TSXV promptly after closing of the Transaction.

The Association Settlement, which is dated September 4, 2025, contains representations, warranties, covenants, indemnities, termination rights and different provisions customary for a transaction of this nature. Particularly, the Association Settlement gives for customary deal protections, together with a non-solicitation covenant on the a part of Maritime, topic to customary “fiduciary out” rights, and a proper for New Discovered Gold to match any Superior Proposal (as outlined within the Association Settlement). The Association Settlement features a termination payment of C$13 million, payable by Maritime, underneath sure circumstances (together with if the Association Settlement is terminated in reference to Maritime pursuing a Superior Proposal). The Association Settlement additionally contains reciprocal expense reimbursement obligations requiring a fee of C$2 million if the settlement is terminated due to a breach or if the Maritime shareholders don’t approve the Transaction.

There are at the moment 243,027,933 New Discovered Gold Shares issued and excellent. Based mostly on the variety of widespread shares of every of the Corporations at the moment issued and excellent, there could be 335,932,796 New Discovered Gold Shares issued and excellent upon closing of the Transaction.

Board Approvals and Suggestions

The board of administrators of Maritime (the “Maritime Board“), in session with its senior administration and monetary and authorized advisors, unanimously decided that the Transaction is in one of the best pursuits of Maritime and honest to Maritime shareholders, unanimously authorised the Transaction and recommends that Maritime shareholders vote in favour of the Transaction on the Particular Assembly.

Upon closing of the Transaction, it’s anticipated {that a} director of Maritime will be a part of the New Discovered Gold board.

SCP Useful resource Finance and Canaccord Genuity Corp. have every supplied an opinion to the Maritime Board, stating that, primarily based upon and topic to the assumptions, limitations and {qualifications} set forth therein, the consideration to be obtained by Maritime shareholders pursuant to the Transaction is honest, from a monetary perspective, to Maritime shareholders.

Additional particulars concerning the phrases of the Transaction are set out within the Association Settlement, which will probably be publicly filed by New Discovered Gold and Maritime underneath their respective profiles on SEDAR+ at www.sedarplus.ca. Further info concerning the phrases of the Association Settlement, the background to the Transaction, the rationale for the suggestions made by the Maritime Board and the way Maritime shareholders can take part in and vote on the Particular Assembly to be held to contemplate the Transaction will probably be supplied within the administration info round for the Particular Assembly which can even be filed at www.sedarplus.ca. Maritime shareholders are urged to learn these and different related supplies once they turn into out there.

Advisors and Counsel

BMO Capital Markets is appearing as monetary advisor to New Discovered Gold and has additionally supplied New Discovered Gold with a equity opinion in reference to the Transaction. Blake, Cassels & Graydon LLP is appearing as authorized counsel to New Discovered Gold.

SCP Useful resource Finance is appearing as monetary advisor to Maritime in reference to the Transaction. Osler, Hoskin & Harcourt LLP is appearing as authorized counsel to Maritime. The Maritime Board engaged Canaccord Genuity Corp. to offer an impartial equity opinion in respect of the Transaction. Paradigm Capital Inc. acted as particular advisor to the Maritime Board.

Convention Name

New Discovered Gold and Maritime will host a convention name to debate the Transaction on Friday, September 5, 2025, at 7AM PT / 10 AM ET. Members might be a part of the convention name by way of webcast or by the next dial-in numbers.

A replay of the convention name and webcast will probably be posted on the New Discovered Gold web site at www.newfoundgold.ca and the Maritime web site at www.maritimegold.com when out there.

Technical Report and Certified Individual

Keith Boyle, P.Eng., Chief Government Officer of New Discovered Gold, a Certified Individual as outlined in Nationwide Instrument 43-101, has authorised the scientific and technical info associated to New Discovered Gold contained on this information launch.

Garrett Macdonald, P.Eng., President, Chief Government Officer, and Director of Maritime, a Certified Individual as outlined in Nationwide Instrument 43-101, has authorised the scientific and technical info associated to Maritime contained on this information launch.

The disclosure concerning the Hammerdown Confirmed and Possible mineral reserves contained on this information launch is supported by Maritime’s technical report titled “Feasibility Research Technical Report Hammerdown Gold Undertaking” dated efficient August 15, 2022, with a report date of October 6, 2022 ready by JDS Power & Mining Inc. (the “Hammerdown Technical Report“). Keith Boyle, P.Eng., Chief Government Officer of New Discovered Gold and a Certified Individual as outlined in Nationwide Instrument 43-101 has reviewed the Hammerdown Technical Report on behalf of New Discovered Gold and to one of the best of New Discovered Gold’s information, info and perception, there isn’t a new materials scientific or technical info that might make the disclosure of the Hammerdown Confirmed and Possible mineral reserves inaccurate or deceptive.

About New Discovered Gold Corp.

New Discovered Gold is a well-financed advanced-stage exploration firm that holds a 100% curiosity in Queensway, positioned in Newfoundland and Labrador, a Tier 1 jurisdiction with glorious infrastructure and a talented native workforce.

New Discovered Gold has accomplished an preliminary MRE and PEA at Queensway (for extra info see New Discovered Gold information releases dated March 24, 2025 and July 21, 2025 on the Firm’s web site at https://newfoundgold.ca/news-releases).

Current drilling continues to yield new discoveries alongside strike and down dip of recognized gold zones, pointing to the district-scale potential over a 110 km strike extent alongside two potential fault zones.

New Discovered Gold has a brand new administration crew in place, a strong shareholder base, which incorporates an roughly 23.1% holding by Eric Sprott, and is concentrated on progress and worth creation at Queensway.

About Maritime Assets Corp.

Maritime is a gold exploration and growth firm centered on advancing Hammerdown within the Baie Verte District of Newfoundland and Labrador, a Tier 1 jurisdiction. Maritime holds a 100% curiosity immediately and topic to choice agreements entitling it to earn 100% possession within the Inexperienced Bay Property, which incorporates the previous Hammerdown gold mine and the Orion gold challenge. Maritime controls over 439 km² of exploration land together with the Inexperienced Bay, Whisker Valley, Gull Ridge and Level Rousse tasks. Mineral processing property owned by Maritime within the Baie Verte mining district embody the Pine Cove mill and the Nugget Pond HGP gold circuit.

Contact

Neither the TSXV nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSXV) accepts duty for the adequacy or accuracy of this launch.

Cautionary Assertion

The PEA is preliminary in nature, it included inferred mineral sources which are thought-about too speculative geologically to have financial issues utilized to them that might allow them to be categorized as mineral reserves and there’s no certainty that the PEA will probably be realized.

Non-GAAP Monetary Measures

The Corporations have included sure non-GAAP monetary measures on this information launch, together with AISC, money price and money price per ounce and free money circulation. These monetary measures aren’t outlined underneath IFRS and shouldn’t be thought-about in isolation. The Corporations consider that these monetary measures, along with monetary measures decided in accordance with IFRS, present buyers with an improved skill to guage the underlying efficiency of the Corporations. The inclusion of those monetary measures is supposed to offer further info and shouldn’t be used as an alternative choice to efficiency measures ready in accordance with IFRS. These monetary measures aren’t essentially customary and subsequently might not be corresponding to different issuers.

All-in Sustaining Value

All-in sustaining price (“AISC“) is a non-GAAP monetary measure calculated primarily based on steerage printed by the World Gold Council (“WGC“). The WGC is a market growth group for the gold trade and is an affiliation whose membership includes main gold mining corporations. Though the WGC will not be a mining trade regulatory group, it labored carefully with its member corporations to develop these metrics. Adoption of the all-in sustaining price metric is voluntary and never essentially customary, and subsequently, this measure introduced by the Corporations might not be corresponding to comparable measures introduced by different issuers. The Corporations believes that the all-in sustaining price measure enhances current measures and ratios reported by the Corporations.

Money Prices and Money Value per Ounce

Money Prices are reflective of the price of manufacturing. Money Prices reported within the Feasibility Research embody mining prices, processing and water remedy prices, basic and administrative prices of the mine, refining and transportation prices, silver income credit and royalties. Money Prices per Ounce is calculated as Money Prices divided by payable gold ounces.

Free Money Circulate

Free Money Flows are revenues internet of working prices, royalties, working capital changes, capital expenditures and money taxes. The Firm believes that this measure is beneficial to the exterior customers in assessing the Firm’s skill to generate money flows from the challenge.

Hammerdown Technical Info

Particulars concerning the Hammerdown Undertaking are included within the “Feasibility Research Technical Report, Hammerdown Gold Undertaking, Newfoundland” ready by JDS Power & Mining Inc., with an efficient date of August 15, 2022.

Hammerdown Feasibility Research

Research Outcomes

1. Consult with “Non-GAAP Monetary Measures” beneath.
2. Payback is outlined as attaining cumulative optimistic free cashflow in any case money prices and capital prices, together with sustaining capital prices and is calculated from the beginning of manufacturing.
3. Excludes preliminary working capital necessities.
4. $0.77 US$/C$ alternate fee.

Working and Capital Prices

Capital prices have a foundation of estimate at Class 3 (FEL3) with a said -15%/+30% accuracy (after the Affiliation for the Development of Value Engineering Worldwide) and are said in Q2 2022 Canadian {dollars}.

Capital price contingency has been allotted on scopes of labor. The mixed contingency for all scopes of labor is equal to twenty% of direct prices, excluding mining tools and pre-stripping. Greater than 82% of kit prices, bulk supplies and labour charges are estimated with funds quotes from distributors. The remaining 18% of prices are estimated from marketing consultant databases on precedent tasks, or from factoring such objects as freight and building oblique prices from provide pricing.

Mine tools is assumed to be acquired by a mix of leasing for many manufacturing and help tools, leases for pioneering drills, and buy of some help tools.

The preliminary capital price, together with contingency, is estimated at $75.0M and internet LOM sustaining capital price is estimated at $4.9M, internet of closure prices and salvage values for main tools, for a complete capital price of $80.0M.

Capital Prices

Mine working prices, together with pre-stripping, are estimated at $4.31/t moved with a strip ratio of 20.3 (waste:ore) over the LOM.

Processing and tailings storage associated prices are estimated at $48.06/t processed. Common and administration prices are estimated at $12.04/t processed. Diesel prices are estimated at $1.53 per litre and energy at $0.085 per kWh (internet cost for generated energy).

Total LOM Money Prices are estimated at US$897 per payable ounce of gold. The LOM All-In Sustaining Prices are estimated at US$912 per payable ounce of gold.

Working Prices

Undertaking Economics

On the base case gold worth (US$1,750 per ounce Au and a $0.77 US$/C$ alternate fee), the Undertaking generates an after-tax NPV5% of $102.8M and an after-tax IRR of 48.1%. Payback on preliminary capital is 1.7 years. LOM after-tax FCF is estimated at $129.7M on an undiscounted foundation. Common after-tax FCF whereas mining Hammerdown is estimated at $41.4M each year.

Gold Worth Sensitivity

Mineral Assets and Mineral Reserves

The MRE for the Hammerdown deposit has been up to date and was ready in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101“) and outlined beneath. The up to date MRE relies on a gold worth of US$1,800 per ounce. Mineral Assets are inclusive of Mineral Reserves reported on this doc. The up to date MRE for the Hammerdown deposit relies on 595 floor diamond drill holes and 192 underground diamond drill holes for a complete of 72,808 metres of drilling and 80 trenches and channels for a complete of 266 m of sampling. The MRE for the satellite tv for pc Orion deposit, positioned 2.3 km southwest of the Hammerdown deposit, stays unchanged.

Mineral Useful resource Estimate – Hammerdown, June 30, 2022

Notes:

1. Mineral Useful resource Estimate accomplished by Pierre Landry, P.Geo., of SLR Consulting (Canada) Ltd. (SLR), an impartial certified particular person (“QP”), as outlined by NI 43-101.
2. Efficient date: June 30, 2022. All Mineral Assets have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required underneath NI 43-101.
3. Open Pit Mineral Assets are inclusive of Mineral Reserves
4. Open Pit Mineral Assets are estimated at a cut-off grade of 0.50 g/t Au.
5. Open Pit Mineral Assets are reported at a block cut-off from complete blocks measuring 2.5 m x 1.0 m x 2.5 m.
6. Mineral Assets are estimated utilizing a long-term gold worth of US$1,800 per ounce, and a US$/C$ alternate fee 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 Assets are estimated at a cut-off grade of two.00 g/t Au.
9. Underground Assets are reported at a block cut-off from complete blocks measuring 2.5 m x 1.0 m x 2.5 m and have been topic to further reporting shapes to take away remoted blocks.
10. Numbers might not add as a consequence of rounding.
11. Mineral Assets reported show affordable prospect of eventual financial extraction, as required underneath NI 43-101.
12. Mineral Assets aren’t Mineral Reserves and should not have demonstrated financial viability.
13. The Mineral Assets could also be materially affected by environmental, allowing, authorized, advertising, and different related points.

The Mineral Reserve estimate for Hammerdown relies on an open pit mine plan and manufacturing schedule outlined within the Feasibility Research. Desk 6 presents the Mineral Reserve estimate for the Hammerdown Undertaking. Confirmed and Possible Mineral Reserves quantity to 1.895 million tonnes at 4.45 g/t Au, containing 272,000 gold ounces. The Mineral Reserve estimate relies on the financial assumptions in Observe 3 beneath.

Mineral Reserve Estimate – Hammerdown, August 15, 2022

Notes:

1. Mineral Reserve Estimate accomplished by Tysen Hantelmann of JDS Power & Mining (“JDS”), an impartial QP as outlined by NI 43-101.
2. Efficient date; August 15, 2022. All Mineral Reserves have been estimated in accordance with CIM definitions required underneath 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 primarily based on: gold worth of US$1,650/oz; alternate fee of $0.77 US$:C$; mixed transport, remedy, payables and royalties of US$25/oz; an general metallurgical restoration (together with ore sorting) of 90.25% for Veins and 85.5% for Wisteria; and an general processing working price of C$45/t ore mined for Veins and C$62/t ore mined for Wisteria.
4. The ultimate FS pit design comprises an extra 94 kt of Inferred sources above the financial cut-off grade at a mean grade of 1.62 g/t Au. Inferred Mineral Assets are thought-about too speculative geologically to have financial issues utilized to them that might allow them to be categorized as Mineral Reserves, and there’s no certainty that any a part of the Inferred Assets may very well be transformed into Mineral Reserves.
5. Tonnages are rounded to the closest 1,000 t, gold grades are rounded to 2 decimal locations. Tonnage and grade measurements are in metric models; contained gold is reported as hundreds of troy ounces.

Ahead-Trying Info

This information launch comprises sure “forward-looking statements” throughout the which means of Canadian securities laws, referring to completion of the Transaction by the use of the Association and the anticipated timing thereof; assessments of and expectations for the mixed entity after completion of the Association; professional forma possession of the mixed entity; the anticipated premium for Maritime shareholders; assessments of and expectations for Hammerdown; assessments of and expectations for Queensway; expectations concerning the present infrastructure of Maritime; expectations concerning the numerous re-evaluation potential; advantages to Maritime shareholders; outcomes of the feasibility examine for Hammerdown and the interpretation of such outcomes; future plans for Hammerdown and Pine Cove and the timing thereof; outcomes of the Queensway PEA and interpretation of such outcomes; the Particular Assembly and the anticipated timing thereof; the satisfaction of closing circumstances, together with receipt of customary inventory alternate approvals; the delisting of the Maritime Shares on the TSXV and the anticipated timing thereof; the composition of the New Discovered Gold board following completion of the Association; the evaluation of the deserves of the Transaction; the timing of the submitting of the administration info round for the Particular Assembly on SEDAR+ and future convention calls and press releases by every of the Corporations. Though the Corporations consider that such statements are affordable, they may give no assurance that such expectations will show to be appropriate. Ahead-looking statements are statements that aren’t historic info; they’re typically, however not at all times, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “tasks”, “goals”, “suggests”, “point out”, “usually”, “goal”, “future”, “probably”, “encouraging”, “pending”, “potential”, “objective”, “goal”, “alternative”, “potential”, “probably”, “preliminary”, and comparable expressions, or that occasions or circumstances “will”, “would”, “might”, “can”, “might” or “ought to” happen, or are these statements, which, by their nature, discuss with future occasions. The Corporations warning that forward-looking statements are primarily based on the beliefs, estimates and opinions of the Corporations’ administration on the date the statements are made, and so they contain a variety of dangers and uncertainties. Consequently, there may be no assurances that such statements will show to be correct and precise outcomes and future occasions might differ materially from these anticipated in such statements. Besides to the extent required by relevant securities legal guidelines and the insurance policies of the TSXV, the Corporations undertake no obligation to replace these forward-looking statements if administration’s beliefs, estimates or opinions, or different components, ought to change. Elements that might trigger future outcomes to vary materially from these anticipated in these forward-looking statements embody: the chance that the Transaction is not going to be authorised by the Maritime Shareholders; the failure to, in a well timed method, or in any respect, get hold of the required courtroom approval for the Transaction, the failure of the Corporations to in any other case fulfill the requisite circumstances to finish the Transaction, the likelihood that the Association Settlement could also be terminated by one or each of the Corporations; the impact of the announcement of the Transaction on every of the Corporations’ strategic relationships, working outcomes and enterprise typically; vital transaction prices or unknown liabilities; the chance of litigation that might forestall or hinder the completion of the Transaction; different customary dangers related to transactions of this nature; assumptions in respect of present and future market circumstances; dangers related to the Corporations’ skill to finish their deliberate research and packages and the outcomes and timing thereof; potential accidents and different dangers related to mineral exploration operations; the chance that the Corporations will encounter unanticipated geological components; dangers related to the interpretation of exploration, drilling and assay outcomes; the likelihood that the Corporations might not be capable of safe allowing and different governmental clearances crucial to hold out the said exploration plans; the chance that the Corporations won’t be able to boost enough funds to hold out their enterprise plans; and the chance of political uncertainties and regulatory or authorized modifications which may intervene with the Corporations’ enterprise and prospects. The reader is urged to discuss with New Discovered Gold’s Annual Info Kind and every of the Corporations’ Administration’s dialogue and Evaluation, all of that are made publicly out there by the respective Corporations’ profiles on the Canadian Securities Directors’ System for Digital Information Evaluation and Retrieval + (SEDAR+) at www.sedarplus.ca for a extra full dialogue of such danger components and their potential results.