New Discovered Gold and Maritime Enter into Definitive Settlement to Mix; Mixture Creates an Rising Canadian Gold Producer

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

New Discovered Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (“New Discovered Gold”) and Maritime Sources Corp. (TSXV: MAE,OTC:MRTMD) (“Maritime” and collectively with New Discovered Gold, the “Firms”) are happy to announce that the Firms have entered right into a definitive settlement (the “Association Settlement”), pursuant to which New Discovered Gold has agreed to amass 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 constructive 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 via obtainable infrastructure, together with the Pine Cove Mill (“Pine Cove“) and the Nugget Pond Hydrometallurgical Gold Plant (“Nugget Pond HGP“), and anticipated money movement from Hammerdown as soon as in full manufacturing to assist Queensway’s improvement (Determine 1).

Keith Boyle, CEO and Director of New Discovered Gold said: “From day one, the main focus of our new board and administration group has been to quickly advance to money movement and remodel 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 12 months. The synergies obtained by this mixture derisks Queensway, offering entry to a milling facility and near-term money movement to assist Section I improvement, setting the stage for Queensway to begin manufacturing in 2027. We stay up for the profitable completion of this transaction and offering manufacturing steerage sooner or later.”

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 movement by using each Maritime gold crops to fund future progress at Hammerdown, Queensway, and aggressive exploration throughout all land holdings. This transaction acknowledges the numerous efforts of Maritime’s group to convey Hammerdown on-line and gives a wonderful consequence for Maritime shareholders.”

Below 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 value 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://photographs.newsfilecorp.com/information/4548/265240_cf47af11641798fc_001full.jpg

Strategic Rationale for New Discovered Gold

• Addition of Hammerdown, a high-grade, near-term producing gold venture 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 value (“AISC“)² of US$912/oz Au
• Hammerdown money movement to assist Queensway improvement: Close to-term anticipated money movement from Hammerdown is anticipated to fund a fabric 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 profit 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 as a result of addition of near-term manufacturing and money movement, the unlocking of serious operational synergies, and elevated scale and capital markets presence.

Advantages to Maritime Shareholders

• Fast 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 value 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 supply 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 group
• 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 venture 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 reduce off grade of 8.2 g/t Au. Hammerdown incorporates 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 web 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 venture for $4M, which included Pine Cove, which is anticipated to supply vital capital value and time financial savings for the event of Hammerdown. Extra 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 embrace:

• Stable low-cost manufacturing profile from 12 months one by way of a phased mine plan:
  • Section 1: Low Preliminary capital value 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 12 months.
• Early income potential: Preliminary gold manufacturing focused for 2027 pending regulatory approval.
• Important leverage to gold value: After-tax NPV_5%will increase to $1.45 billion from $743 million and inside charge of return (“IRR”) will increase to 197% from 56.3% when gold value 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 median whole money value 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

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

Transaction Abstract

Below 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 shall be canceled and exchanged for New Discovered Gold choices exercisable for New Discovered Gold Shares and all excellent Maritime warrants will develop into exercisable for New Discovered Gold Shares, with the variety of New Discovered Gold Shares issuable on train and the train value adjusted in accordance with the Alternate Ratio.

The Transaction shall be carried out by the use of a court-approved Association beneath the Enterprise Firms Act (British Columbia) and a decision to approve the Transaction shall be submitted to Maritime shareholders and holders of Maritime inventory choices at an annual common 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 forged by Maritime shareholders, (ii) 66 2/3% of the votes forged 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 Sources Restricted, Eric Sprott and SCP Useful resource Companions representing in combination roughly 49% of the issued and excellent Maritime Shares, have entered into voting and assist 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 shouldn’t be required.

Along with Maritime shareholder and court docket approval, the Transaction can also 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. Specifically, 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, beneath 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 cost 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 Firms 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 the most effective pursuits of Maritime and truthful to Maritime shareholders, unanimously accepted 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 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 truthful, from a monetary perspective, to Maritime shareholders.

Additional particulars concerning the phrases of the Transaction are set out within the Association Settlement, which shall be publicly filed by New Discovered Gold and Maritime beneath their respective profiles on SEDAR+ at www.sedarplus.ca. Extra data 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 think about the Transaction shall be supplied within the administration data 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 develop into obtainable.

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 supply an unbiased 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. Individuals might be part of the convention name by way of webcast or via the next dial-in numbers.

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

Technical Report and Certified Individual

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

Garrett Macdonald, P.Eng., President, Chief Govt Officer, and Director of Maritime, a Certified Individual as outlined in Nationwide Instrument 43-101, has accepted the scientific and technical data 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 Govt 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 the most effective of New Discovered Gold’s data, data and perception, there isn’t any new materials scientific or technical data that will 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 wonderful infrastructure and a talented native workforce.

New Discovered Gold has accomplished an preliminary MRE and PEA at Queensway (for extra data 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 group in place, a strong shareholder base, which incorporates an roughly 23.1% holding by Eric Sprott, and is targeted on progress and worth creation at Queensway.

About Maritime Sources Corp.

Maritime is a gold exploration and improvement firm targeted 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 venture. Maritime controls over 439 km² of exploration land together with the Inexperienced Bay, Whisker Valley, Gull Ridge and Level Rousse initiatives. Mineral processing property owned by Maritime within the Baie Verte mining district embrace the Pine Cove mill and the Nugget Pond HGP gold circuit.

Contact

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

Cautionary Assertion

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

Non-GAAP Monetary Measures

The Firms have included sure non-GAAP monetary measures on this information launch, together with AISC, money value and money value per ounce and free money movement. These monetary measures should not outlined beneath IFRS and shouldn’t be thought-about in isolation. The Firms imagine that these monetary measures, along with monetary measures decided in accordance with IFRS, present buyers with an improved capacity to guage the underlying efficiency of the Firms. The inclusion of those monetary measures is supposed to supply extra data and shouldn’t be used as an alternative to efficiency measures ready in accordance with IFRS. These monetary measures should not essentially customary and subsequently will not be corresponding to different issuers.

All-in Sustaining Price

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

Money Prices and Money Price per Ounce

Money Prices are reflective of the price of manufacturing. Money Prices reported within the Feasibility Research embrace mining prices, processing and water therapy prices, common 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 Stream

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

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 reaching cumulative constructive 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 charge.

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 Price Engineering Worldwide) and are said in Q2 2022 Canadian {dollars}.

Capital value 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 gear and pre-stripping. Greater than 82% of kit prices, bulk supplies and labour charges are estimated with finances quotes from distributors. The remaining 18% of prices are estimated from marketing consultant databases on precedent initiatives, or from factoring such objects as freight and development oblique prices from provide pricing.

Mine gear is assumed to be acquired via a mixture of leasing for many manufacturing and assist gear, leases for pioneering drills, and buy of some assist gear.

The preliminary capital value, together with contingency, is estimated at $75.0M and web LOM sustaining capital value is estimated at $4.9M, web of closure prices and salvage values for main gear, for a complete capital value 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. Basic 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 (web cost for generated energy).

General 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 value (US$1,750 per ounce Au and a $0.77 US$/C$ alternate charge), 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 every year.

Gold Value Sensitivity

Mineral Sources 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 is predicated on a gold value of US$1,800 per ounce. Mineral Sources are inclusive of Mineral Reserves reported on this doc. The up to date MRE for the Hammerdown deposit is predicated 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 unbiased certified particular person (“QP”), as outlined by NI 43-101.
2. Efficient date: June 30, 2022. All Mineral Sources have been estimated in accordance with Canadian Institute of Mining and Metallurgy and Petroleum (“CIM”) definitions, as required beneath NI 43-101.
3. Open Pit Mineral Sources are inclusive of Mineral Reserves
4. Open Pit Mineral Sources are estimated at a cut-off grade of 0.50 g/t Au.
5. Open Pit Mineral Sources are reported at a block cut-off from complete blocks measuring 2.5 m x 1.0 m x 2.5 m.
6. Mineral Sources are estimated utilizing a long-term gold value of US$1,800 per ounce, and a US$/C$ alternate charge 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 Sources are estimated at a cut-off grade of two.00 g/t Au.
9. Underground Sources 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 extra reporting shapes to take away remoted blocks.
10. Numbers might not add resulting from rounding.
11. Mineral Sources reported show affordable prospect of eventual financial extraction, as required beneath NI 43-101.
12. Mineral Sources should not Mineral Reserves and do not need demonstrated financial viability.
13. The Mineral Sources could also be materially affected by environmental, allowing, authorized, advertising and marketing, and different related points.

The Mineral Reserve estimate for Hammerdown is predicated 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 is predicated on the financial assumptions in Be aware 3 beneath.

Mineral Reserve Estimate – Hammerdown, August 15, 2022

Notes:

1. Mineral Reserve Estimate accomplished by Tysen Hantelmann of JDS Power & Mining (“JDS”), an unbiased 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 beneath 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 value of US$1,650/oz; alternate charge of $0.77 US$:C$; mixed transport, therapy, 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 value of C$45/t ore mined for Veins and C$62/t ore mined for Wisteria.
4. The ultimate FS pit design incorporates a further 94 kt of Inferred sources above the financial cut-off grade at a median grade of 1.62 g/t Au. Inferred Mineral Sources are thought-about too speculative geologically to have financial issues utilized to them that will allow them to be categorized as Mineral Reserves, and there’s no certainty that any a part of the Inferred Sources could possibly 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-Wanting Info

This information launch incorporates sure “forward-looking statements” throughout the that 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 data round for the Particular Assembly on SEDAR+ and future convention calls and press releases by every of the Firms. Though the Firms imagine that such statements are affordable, they can provide no assurance that such expectations will show to be appropriate. Ahead-looking statements are statements that aren’t historic information; they’re usually, however not at all times, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “initiatives”, “goals”, “suggests”, “point out”, “usually”, “goal”, “future”, “seemingly”, “encouraging”, “pending”, “potential”, “objective”, “goal”, “alternative”, “potential”, “probably”, “preliminary”, and comparable expressions, or that occasions or circumstances “will”, “would”, “might”, “can”, “may” or “ought to” happen, or are these statements, which, by their nature, check with future occasions. The Firms warning that forward-looking statements are primarily based on the beliefs, estimates and opinions of the Firms’ administration on the date the statements are made, and so they contain quite a lot of dangers and uncertainties. Consequently, there may be no assurances that such statements will show to be correct and precise outcomes and future occasions may 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 Firms undertake no obligation to replace these forward-looking statements if administration’s beliefs, estimates or opinions, or different components, ought to change. Elements that would trigger future outcomes to vary materially from these anticipated in these forward-looking statements embrace: the danger that the Transaction is not going to be accepted by the Maritime Shareholders; the failure to, in a well timed method, or in any respect, receive the required court docket approval for the Transaction, the failure of the Firms to in any other case fulfill the requisite circumstances to finish the Transaction, the chance that the Association Settlement could also be terminated by one or each of the Firms; the impact of the announcement of the Transaction on every of the Firms’ strategic relationships, working outcomes and enterprise usually; vital transaction prices or unknown liabilities; the danger of litigation that would 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 Firms’ capacity to finish their deliberate research and applications and the outcomes and timing thereof; attainable accidents and different dangers related to mineral exploration operations; the danger that the Firms will encounter unanticipated geological components; dangers related to the interpretation of exploration, drilling and assay outcomes; the chance that the Firms might not have the ability to safe allowing and different governmental clearances essential to hold out the said exploration plans; the danger that the Firms will be unable to boost enough funds to hold out their enterprise plans; and the danger of political uncertainties and regulatory or authorized modifications that may intrude with the Firms’ enterprise and prospects. The reader is urged to check with New Discovered Gold’s Annual Info Type and every of the Firms’ Administration’s dialogue and Evaluation, all of that are made publicly obtainable via the respective Firms’ 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 threat components and their potential results.