CANADA’S

NEWEST
HIGH-GRADE
GOLD DISCOVERY
TSX-V: NFG
OTC: NFGFF
DISCLAIMER
This presentation contains certain forward-looking statements within the meaning of Canadian securities legislation (the “Forward-looking Statements”), including with respect to the exploration and drill programs at the Company’s Queensway Project
in Newfoundland. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally,
but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or
“should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are
made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Important factors that could cause future results to differ materially from those anticipated in these forward-looking statements include uncertainties related to fluctuations in gold and other commodity prices, uncertainties inherent in the exploration
of mineral properties and the impact and progression of the COVID-19 pandemic and other risk factors set forth in the Company’s final prospectus under the heading “Risk Factors”. The reader is urged to refer to the Company’s reports, publicly available
through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. 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 NFG 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 press release are expressly qualified in their entirety by this cautionary statement.

The historical resource estimate presented for the Knob Deposit herein was published by Gander River Minerals in the technical document titled “Eighth Year Assessment Report Summary of Diamond Drilling Activities Conducted Within Licence No. 4344
The ‘Knob’ Prospect N.T.S. 20/15” authored by Dean Sheppard, 1994. The reader is cautioned that the data used in the preparation of the historical resource estimate does not meet the current standards of exploration quality assurance and quality control
protocols such that it should not be relied upon to produce a current resource estimate for the Knob prospect. Significant additional drilling and data verification would be required to ensure the quality of historic data meets current standards for use in
a resource estimate. Additionally, the methods used in the preparation of the resource as a block long section methodology include certain assumptions of geological continuity and grade variography are not adequate to treat this as a current mineral
resource estimate. The reader is cautioned that the historical resource estimate is not classified in accordance with section 1.2 or 1.3 of NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and therefore cannot be compared with current
mineral resources or mineral reserves as defined in section 1.2 or 1.3 of NI 43-101 as there has been no work completed to verify and classify such historical resource estimate. A Qualified Person has not done sufficient work to classify the historical
estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves.

Greg Matheson, P.Geo., the Chief Operating Officer of the Company, and a qualified person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contain in this presentation. Mr. Matheson has verified the data disclosed
herein, including sampling, analytical and test data underlying the technical information contained herein.

Information of a scientific nature related to the Queensway Project included in this presentation is based on the Technical Report on the Queensway Gold Project, Newfoundland, Canada, dated June 22, 2020, with an effective date of June 20, 2020 (the
“Queensway Report”), prepared by Dawn Evans Lamswood, M.Sc., P. Geo of DEL Exploration, who is an independent qualified person under NI 43-101.

True widths of the new exploration intercepts reported in this presentation have yet to be determined but are estimated to typically be 70%-80% of reported core lengths; all channel sample true widths are estimated to be close to the reported widths. Assays
are uncut, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3.0 g/t Au. All HQ core assays reported were obtained by either whole sample rock metallic screen/fire assay or standard 30-gram fire-assaying with
ICP finish at ALS Minerals in Vancouver, British Columbia. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill
program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are
included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.

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.

TSX-V: NFG | 2
CONTENTS

Section 1 04 INTRODUCTION

Section 2 07 CORPORATE OVERVIEW

Section 3 12 QUEENSWAY PROJECT OVERVIEW

Section 4 20 QUEENSWAY NORTH

Section 5 24 QUEENSWAY SOUTH

Section 6 28 CURRENT DRILLING AUGUST-OCTOBER 2020

Section 7 33 FOSTERVILLE SWAN ZONE ANALOG

TSX-V: NFG | 3
 S E C T I ON 1

INTRODUCTION

TSX-V: NFG |-4-

4
INVESTMENT HIGHLIGHTS

• An unexplored district scale 1,500km2 land package within the highly

prospective Central Newfoundland Gold Belt
• Similar geologic setting to the Fosterville Mine, Victoria Goldfields
• 105km of untested strike length with multiple targets
• 100,000m of drilling now underway in two phases, including on
multiple targets along 8km of high priority strike length
• New Found Gold’s first drill in a 10 hole program late 2019 intersected
92.9 g/t Au over 19.0m including 285.2 g/t Au over 6.0m, starting
96.0m down hole. Two drills are now turning at Keats.
• New Found’s first hole at the Lotto Zone 2km north of Keats returned
41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m
• Excellent access to infrastructure; located 15km West of Gander, Queensway
Project
Newfoundland and is bisected by the Trans Canada Highway
• Proven leadership team and strong shareholder base

Newfoundland

TSX-V: NFG | 5
 95
QUEENSWAY PROJECT SAMPLE LEGEND 00
N

Drill Core Samples

Surface Samples
Channel Samples 90
00
N
Grab Samples

GOLD MULTIPLE

e
on
85
00

lt Z
N

au
HIGH-GRADE TARGETS

nF
to
80
00

ple
N

Ap
ZONE 36
2 New Veins Exposed over 75
100m Strike Length in 2020 00
N
LOTTO ZONE
• The first modern exploration at the Queensway Project was by Noranda in the TRENCH 26
1.05 g/t Au over 29.1m
41.2 g/t Au over 4.75m
25.4 g/t Au over 5.15m
14.3 g/t Au over 2.1m
1980’s. They reported a resource at the Knob Zone (see map) of 77,943 oz Au at POWERLINE ZONE
2.01 g/t Au over 6.0m
10.0 g/t Au over 2.3m
934.4 g/t Au
425.8 g/t Au
70
00
N

10.3g/t*. 12.3 g/t Au DOME ZONE

20.3 g/t Au over 8.6m
70.7 g/t Au over 2.6m
LITTLE ZONE

m
• The Fosterville epizonal high grade model was not understood at that time
729 g/t Au over 1.5m

2K
65
18.6 g/t Au over 7.5m 00
3.06 g/t Au over 7.0m ROAD ZONE N

15.4 g/t Au over 2.7m

• This genesis of mineralization results in very high grade gold in relatively small
5.68 g/t Au over 11.0m
NO DRILLING 50.0 g/t Au over 2.0m
TO DATE
COKES ZONE 60

volumes of rock. It requires narrow spaced drilling to follow up and trace high
00
2.7 g/t Au over 2.7m N
3.4 g/t Au over 5.9m
KEATS ZONE
grade intercepts, as at Fosterville’s Swan Zone. 92.86 g/t Au over 19.0m incl.
285.2 g/t Au over 6.0m 55
BOWATER ZONE 1869 g/t Au 00

• This strategy has not been pursued before at the Queensway Project.
N
NO DRILLING
8.84 g/t Au over 1.0m NO GEOCHEM

• The 92.9 g/t intercept at Keats occurs within an area that covers 5km+ of strike GOLDEN BULLET
702 g/t Au
QUEENSWAY PROJECT
Historic Showing/Zone
50
00
N

including multiple showings and high-grade gold intervals. 43.2 g/t Au over 0.8m
Surface Gold Trends
Airborne Chargeability
• Structural targets extend over an approximate 700m width across this fault KNOB ZONE
106.0 g/t Au over 2.3m
14.8 g/t Au over 8.9m
Anomaly
EM Lineaments
45
00
N

zone.
2130 g/t Au
EM/Mag Interpreted Faults
LETHA ZONE Historic Au Soil Anomaly
• New Found has initiated its 25,000m Phase 1 program along the Appleton Fault
40
WHITE SPRUCE ZONE 136.6 g/t Au
00
N
324.8 g/t Au 225.6 g/t Au Queensway Project Outline
137.5 g/t Au 106.3 g/t Au

Zone and plans to grid drill a good portion of this target area. GROUSE ZONE
0.63 g/t Au over 36.0m
Initial Planned Drilling Fences
Trans-Canada Highway 35
00

• Two drills are currently turning at Keats where an initial 12,000m is planned to
19.6 g/t Au N
Diamond Drill Hole Intercapts
0.5 - 1.0 g/t Au
GLEN EAGLES ZONE
follow up on the 2019 discovery hole. New Found’s first hole at the Lotto Zone 33.7 g/t Au
1.0 - 5.0 g/t Au
> 5.0 g/t Au 30
00

2km north of Keats returned 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m.
N
Rock Samples
0.5 - 1.0 g/t Au
1.0 - 5.0 g/t Au
*The historical resource estimate disclosed above was published by Gander River Minerals in the technical document titled “Eighth Year Assessment Report Summary of Diamond Drilling Activities Conducted Within Licence No. 4344 The ‘Knob’ Prospect 25
N.T.S. 20/15” authored by Dean Sheppard, 1994. The reader is cautioned that the data used in the preparation of the historical resource estimate does not meet the current standards of exploration quality assurance and quality control protocols such that > 5.0 g/t Au 00
N
it should not be relied upon to produce a current resource estimate for the Knob prospect. Significant additional drilling and data verification would be required to ensure the quality of historic data meets current standards for use in a resource estimate.
Additionally, the methods used in the preparation of the resource as a block long section methodology include certain assumptions of geological continuity and grade variography that are not adequate to treat this as a current mineral resource estimate. The
historical resource estimate is not classified in accordance with section 1.2 or 1.3 of NI 43-101 and therefore cannot be compared with current mineral resources or mineral reserves as defined in sections 1.2 or 1.3 of NI 43-101 as there has been no work
completed to verify and classify such historical resource estimate. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as N
0 0.5 1 2
current mineral resources or mineral reserves. Km 200
0N
-50 50 100 150
0N 0N 0N 0N 0N
 S E C T I ON 2

CORPORATE
OVERVIEW

TSX-V: NFG |-7-

7
 Current Ownership

CAPITALIZATION 33%

Basic Shares Outstanding 142,000,231

Broker Warrants @ $1.30 and $1.50 strike 1,487,632

Options 14,020,000 18% Eric Sprott

Fully Diluted Shares Outstanding 157,507,863

Working Capital^ $75.2M

Market Capitalization* $380.5M 11%

^Working Capital includes 6,944,444 Novo Resource Corp. shares

*Market Cap as of October 2, 2020 at $2.68 / share

7% Rob McEwen

8% Institutional Ownership

4% Management & Insiders

19% Others
TSX-V: NFG | 8
LEADERSHIP TEAM

Collin Kettell Craig Roberts, P.Eng. Denis Laviolette Dr. Quinton Hennigh, Ph.D. John Anderson
Founder & Executive Chairman CEO & Director Founder & President Director Director
Collin is the Founder & Executive Mining engineer with over Over 10 years of experience Economic geologist with Over 25 years of capital market
Chairman of Palisades Goldcorp 30 years of operations, in mining and capital 25 years of exploration experience specializing in the
Ltd., Canada’s newest resource consulting and investment markets; worked as a experience, mainly gold resource sector. A founder and
focused merchant bank, with $175M banking experience. Includes production and exploration related. Led exploration financier of a number of start-
AUM and growing. He comes work on feasibility studies for geologist in Timmins, teams for Homestake Mining up companies with experience
from a family with deep ties to the numerous mining projects Kirkland Lake, Red Lake, Company, Newcrest Mining on the TSX. NYSE, NASDAQ,
mining, including co-founding AuEx worldwide, investment Norway and Ghana. Later Ltd. and Newmont Mining London AIM and Swiss Stock
Ventures, the company responsible banking/due diligence roles worked as a mining analyst Corp. Founder, Chairman and exchanges; Founder of Deep
for discovering the Long Canyon in over 200 institutional with Pinetree Capital. President of Novo Resources, 6 PLC, American Eagle Oil and
deposit, a project ultimately acquired equity financings. Significant Founder, Director and Founder and Director of Gas,Inc. Founding general
by Newmont for $2.3B. Collin is the experience advising Executive Chairman of Irving Resources. Lead role partner in Aquastone Capital
Founder & Executive Chairman of management and boards Goldspot Discoveries Inc. in a number of discoveries LLC. Executive Chairman
Nevada King Mining Ltd., the fifth on merger and acquisition (TSX.V: SPOT) and also including significant of Triumph Gold Corp. and
largest mineral claim holder in the transactions. currently serves as a Director involvement in high grade Chairman of EXM Farming
State of Nevada; Co-Founder & CEO for Xtra-Gold Resources Swan Zone discovery at Corp.
of Victory Metals (TSX- V:VMX); Co- Corp. (TSE: XTG). Fosterville.
Founder of Goldspot Discoveries
(TSX-V:SPOT).

TSX-V: NFG | 9
 KEY PEOPLE AND ADVISORS

Greg Matheson, P.Geo. Michael Kanevsky, CPA Ken Rattee Cal Everett, B.Sc. Paul Matysek, M.Sc. Bassam Moubarak
COO CFO V.P. Exploration Advisor Advisor Advisor
A professional geologist with A Chartered Professional Over 36 years’ experience Geologist with more than Serial entrepreneur, geochemist Finance professional with
over 14 years experience Accountant with nine in base and precious metal 14 years of surface and and geologist with over 40 years over 15 years of experience.
managing grass roots years of post- designation mineral exploration in various underground exploration of experience in the mining Since 2008 Mr. Moubarak
exploration through to professional experience management roles; former experience with senior mining industry. Since 2004 as CEO or has been involved in
advanced exploration projects; working with public chief geologist for Kirkland companies. Moved to the Chairman, Matysek has primarily corporate transactions
former exploration manager of and private companies. Lake Gold’s Macassa financial sector in 1990, and focused on the exploration, with an aggregate value in
Northern Gold Mining, senior Expertise in corporate Mine. Extensive experience spent 12 years with BMO development and sale of five excess of $ 800 million and
project manager for Oban reporting, financial developing, supervising and Nesbitt Burns focused on publicly listed companies, raised in excess of $150
Mining and Osisko Mining. processes and risk implementing exploration resource equities, and seven in aggregate worth over $2 million for mineral asset
Responsible for the discovery management. Began his campaigns including for Lac years with PI Financial Corp. billion. Most recently, he was project development.
and delineation of the >2.0 professional career in Minerals, Kirkland Lake Gold, in senior resource institutional Executive Chairman of Lithium X
Moz. Garrison Gold project in the audit and assurance Kinross Gold and Barrick sales and capital markets. Energy Corp. which was sold to
NE Ontario from early stage practice at Deloitte. Gold. From 2008 to 2015, was Nextview New Energy Lion Hong
exploration through trial President and Chief Executive Kong Limited (“Nextview”) for
production mining. Officer of Axemen Resource $265 million in cash. Awarded
Capital. Currently President & EY Entrepreneur of the Year
CEO of Liberty Gold. for Mining & Resources in
September 2018.

TSX-V: NFG | 10
HISTORY / EXPLORATION TIMELINE
Nov 2019 FEB 2018 JUL 2017 NOV 2016 2016-2017

Completed a Completed a Completed a Completed Completed

1,950m diamond regional scale property wide detailed till 9 separate
drilling program till survey to VTEM magnetic sampling property
at JBP and sample over and EM survey program transactions
Appleton Fault 750 location covering covering the along with
Zone 821km2 JBP Fault Zone staking to form
the Queensway
Project

Expanded phase
Expanded the 2 regional till Initiated Phase I
Completed Queensway 25,000m diamond Initiate Phase II,
airborne gravity to program to cover
Project by 74% additional 750 drilling program 75,000m
test Queensway through staking at JBP and drill program
Project North sites / systematic
to over 1500km2 surface mapping Appleton Fault
and sampling Zones

MAR 2020 APRIL 2020 MAY 2020 AUGUST 2020 JAN 2021

IPO Completed
Raised $31.4M @ $1.30 per share
bringing working capital to $75.2M
TSX-V: NFG | 11
 S E C T I ON 3

QUEENSWAY
PROJECT
OVERVIEW

TSX-V: NFG | -12-

12
LOCATION

• The Queensway project is located QUEENSWAY NORTH

on the Trans-Canada Highway, a NEWFOUNDLAND HELICOPTER BASE
TRANS-CANADA HIGHWAY GANDER INTERNATIONAL AIRPORT
15-minute drive west of Gander, TOWN OF APPLETON
TOWN OF GANDER
Newfoundland. 138Kv Hydro
NFGC-19-01
• The 5km target strike of Appleton KEATS ZONE
Fault Zone bisects the Trans-Canada
Highway
375 QUEENSWAY PROJECT
Kv
• A network of maintained forestry Hyd
ro Trans-Canada Highway
roads crisscross the project and
Secondary Road
provide excellent access for year-
Hydro Transmission Line
round exploration and drilling.
Queensway Project
• The nearby Town of Gander has a QUEENSWAY SOUTH First Order Structure
population of 14,000, an international Second Order Structure
airport, and several industrial supply Gander Lake
and support services.
• A significant number of the geologists
and prospectors employed by the
Company reside in Gander. 0 5 10 20
Km

TSX-V: NFG | 13
THE DOG BAY SUTURE HOST

re
BALTICA

Main lapatus sutu

TO LARGE GOLD DEPOSITS

axis
g
adin
t u re
r Su

spre
T h o

• The Dog Bay Line (DBL) is a significant suture DOG BAY LINE

c
lanti
HBF Britain
formed at the closing of the Iapetus Ocean and Greenland

h At
can be found on both sides of the Atlantic Ocean

Nort
Ireland
• New Found Gold identified this structure for its DALRADIAN
significant gold potential and consolidated land CBF
holdings over a 105km segment of the structure
LAURENTIA
LL
in Newfoundland N SF
Labrador FZ SF
• A number of large gold systems have been BBL IL W M
R
found along these major suture zones including: DB B
L
GRU
• Dalradian Gold – Curraginalt Deposit
– Ireland MARATHON QUEENSWAY PROJECT
Iberia
• Marathon Gold – Valentine Lake Deposit BBF F
DH Avalonia
– Newfoundland Ganderia
Newfoundland GONDWANA
CCF
• OceanaGold – Haile Deposit LOF
– North Carolina
Meguma Africa Early Ordovician suture
Middle Ordovician suture
Silurian suture
Silurian/Devonian fault

CLOSING OF THE IAPE TUS OCEAN

TSX-V: NFG | 14
COMPARISON TO
BENDIGO/FOSTERVILLE
• While no two mineral systems are ever Comparable Features Bendigo Gold Belt, Australia Central Gold Belt, Newfoundland
identical, there is strong evidence to
Cambro-Ordovician
suggest the Central Newfoundland Host Lithology to Devonian turbidites
Middle Ordovician turbidites
(shales, siltstones sandstones)
Gold Belt has many similarities to the (sandstones, siltstones, shales)
Bendigo goldfields in Victoria state,
Classic saddle reef fold structures
Australia which New Found Gold is Structural features AND fault hosted deposits
Fault hosted orogenic
gold deposits
using as an early geological model (e.g. Fosterville Swan Zone)

• Bendigo goldfields has produced over Metamorphic Grade Sub-greenschist to greeenschist Sub-greenschist to greeenschist
22 Moz of gold over its >150yr mining
history Visible gold is common as
Visible gold is common as
disseminations in
• Fosterville Mine (Kirkland Lake Gold) is disseminations in
quartz-carbonate veining
quartz-carbonate veining
currently in production as the world’s Mineralogy
highest grade and one of the lowest Accessory minerals include
Accessory minerals include
pyrite, arsenopyrite,
cost primary gold mines arsenopyrite, pyrite, sphalerite
chalcopyrite, sphalerite,
stibnite and boulangerite
stibnite and boulangerite

Victoria Goldfields originally First gold occurrence noted

Mining History discovered in 1850’s and in early 1980’s; now entering
produced over 22 Moz discovery phase

TSX-V: NFG | 15
COMPARISON TO
BENDIGO / FOSTERVLLE
The Bendigo Analog – Victoria State, Australia NW SE
penetrative
mineralized fabric
low-displacement
faults
NW SE NW SE

Dog Bay line

GRC line

increasing slip on decollement

slip on decollement

oceanic crust oceanic crust oceanic crust

Progressive compression, folding, faulting and mineralization of sediments.

High-grade gold mineralization at Queensway focuses on small displacement accommodation faults, similar to Fosterville Swan Zone.
TSX-V: NFG | 16
 N

PROJECT OVERVIEW

• The Queensway project (151,030

GOLD ZONES ALONG 5KM OF APPLETON FAULT GOLD ZONES ALONG 3KM OF JBP FAULT
hectares, 151km²) covers more than
105km of strike on two primary fault Gander
zones, Appleton and JBP. Lake

• The project is divided by Gander Lake into

Queensway North and Queensway South.
• Drilling other exploration work to date has
revealed multiple high grade targets along LEGEND
5km of the Appleton Fault and 3km of the

NE
Gold Showings

LI
JBP Fault.

Y
BA
Gold in Till Anomaly

NE
• A very large scale regional till program by

LI
DO
First Order Structure

UB
New Found has identified large gold in till

GR
Second Order Structure
anomalies coincident with the Appleton Queensway Project

LT
and JBP faults on Queensway South, LT

AU
covering areas up to 5km x 2km. AU
F

PF
N
O

JB
ET
PL
AP
0 5 10 20
Km
TSX-V: NFG | 17
DISTRICT SCALE
PROJECT
• Prospecting, geological surveys and gold
mineralization reports did not begin in
Newfoundland until the late 1980’s
• The first gold showing in Central
Newfoundland was recorded in the early
1980’s
• The Central Newfound Gold Belt is only
now in the discovery phase and despite
multiple occurrences of high grade gold,
the Queensway Project area was largely Queensway Project

open for staking when New Found Gold

began its property acquisition program in
2015
• New Found Gold is now pursuing multiple
targets for discovery of high grade gold
over 105km of perspective strike distance
Regional Mag-EM Composite

TSX-V: NFG | 18
CURRENT 100,000M
EXPLORATION PROGRAM
• Substantial follow up drilling around prior high grade Phase 1 Item Units Total
intersections, some close spaced to define high grade Drilling 25,000 $4,500,000
epizonal gold mineralization Prospecting/Mapping $300,000
• Drill testing of traditionally generated and machine Gravity Modelling $200,000
learning targets outside of known areas Tills 750 $750,000
• Use knowledge of the Phase 1 program to initiate a more Trenching 30 $300,000
detailed drilling program (not definition drilling but defining
the scale of resource systems; aka inferred drilling) TOTAL $6,050,000
• Continued development of the structural model
• Investigate structural relationships and mineralizing Phase 2 Item Units Total
events across the Queensway North, surface and drill core Drilling 75,000 $13,500,000
• Conduct surface field work at Queensway South, early Airborne Gravity $1,200,000
stage data collection and advanced target testing Prospecting/Mapping $300,000
(trenching, drilling) Trenching 20 $225,000
Regional Drilling 2,000 $360,000

TOTAL $15,585,000

TSX-V: NFG | 19
 S E C T I ON 4

QUEENSWAY
NORTH

TSX-V: NFG | -20-

20
 QUEENSWAY NORTH: N

APPLETON AND JBP FAULT ZONES

The Queensway Project covers two prominent NE trending H POND

faults that cross the property which are the vital fluid LOTTO 3 Km
conduits allowing for the formation of gold deposits. DOME POCKET POND
The two fault zones are geologically best defined in
KEATS
the northern portion of the property but projected with
geophysics to extend along the entire project. GOLDEN BULLET
THE KNOB
Appleton Fault Zone
78,000 Oz @ 10.3 g/t*
0 1.25 2.5 5
5 Km Km

• Auriferous quartz veins hosted within shale and greywacke identified QUEENSWAY QUEENSWAY NORTH PROJECT
over a 5km strike length NORTH Diamond Drill Hole Intercapts
0.5 - 1.0 g/t Au
• Total historical drilling of 14,325m (132 drill holes)
1.0 - 5.0 g/t Au
• The Knob deposit contains a historical resource of > 5.0 g/t Au

ne
77,943 oz Au @ 10.3 g/t by Noranda*

ne
Rock Samples
Gander Lake

Zo

Zo
• Open along strike and down dip 0.5 - 1.0 g/t Au

lt

lt
1.0 - 5.0 g/t Au

u
JBP Fault Zone

u
Fa

Fa
> 5.0 g/t Au

P
• Sedimentary hosted quartz vein gold system identified over 3km strike

to
New Found Gold Corp Property

JB
ple
• Total historical drilling of 9,872m (54 drill holes) Gander Lake

Ap
• Open along strike and down dip Fault
QUEENSWAY Fault Extension
SOUTH

*The historical resource estimate disclosed above was published by Gander River Minerals in the technical document titled “Eighth Year Assessment Report Summary of Diamond Drilling Activities Conducted Within Licence No. 4344 The ‘Knob’ Prospect N.T.S. 20/15” authored by Dean Sheppard, 1994. The reader is cautioned that the data used in the
preparation of the historical resource estimate does not meet the current standards of exploration quality assurance and quality control protocols such that it should not be relied upon to produce a current resource estimate for the Knob prospect. Significant additional drilling and data verification would be required to ensure the quality of historic data meets
current standards for use in a resource estimate. Additionally, the methods used in the preparation of the resource as a block long section methodology include certain assumptions of geological continuity and grade variography that are not adequate to treat this as a current mineral resource estimate. The historical resource estimate is not classified in
accordance with section 1.2 or 1.3 of NI 43-101 and therefore cannot be compared with current mineral resources or mineral reserves as defined in sections 1.2 or 1.3 of NI 43-101 as there has been no work completed to verify and classify such historical resource estimate. A Qualified Person has not done sufficient work to classify the historical estimate as
current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves.
TSX-V: NFG | 21
 95
QUEENSWAY PROJECT SAMPLE LEGEND 00
N

Drill Core Samples

Surface Samples
Channel Samples 90
00
N
Grab Samples

QUEENSWAY NORTH:

e
on
85
00

lt Z
N

APPLETON FAULT ZONE

au
nF
to
80
00

ple
OVERVIEW
N

Ap
ZONE 36
2 New Veins Exposed over 75
100m Strike Length in 2020 00
N

TRENCH 26 LOTTO ZONE

41.2 g/t Au over 4.75m
1.05 g/t Au over 29.1m 25.4 g/t Au over 5.15m
14.3 g/t Au over 2.1m

High grade gold system along 5km strike length

10.0 g/t Au over 2.3m 70
POWERLINE ZONE 934.4 g/t Au 00
N
2.01 g/t Au over 6.0m 425.8 g/t Au
12.3 g/t Au DOME ZONE
of the Appleton Fault Zone LITTLE ZONE
20.3 g/t Au over 8.6m
70.7 g/t Au over 2.6m

m
729 g/t Au over 1.5m

2K
65
18.6 g/t Au over 7.5m 00
• Significant opportunity for expansion from the existing zones along strike and at depth 3.06 g/t Au over 7.0m ROAD ZONE N

15.4 g/t Au over 2.7m

5.68 g/t Au over 11.0m
• Very few drill holes reach below 150m vertical depth and significant distances exist between gold zones with no drilling NO DRILLING
TO DATE
50.0 g/t Au over 2.0m
COKES ZONE 60
• Multiple kilometers with no drilling exist between known gold zones 2.7 g/t Au over 2.7m
3.4 g/t Au over 5.9m
00
N

• Four drill holes of the New Found Gold’s inaugural drilling program in late 2019 were along the Appleton Fault, including KEATS ZONE
92.86 g/t Au over 19.0m incl.
a discovery hole at the Keats Zone BOWATER ZONE
285.2 g/t Au over 6.0m
1869 g/t Au 55
00
N
NO DRILLING
8.84 g/t Au over 1.0m NO GEOCHEM
• The first hole of the 2020 program at the Lotto Zone returned a new discovery hole of 41.2 g/t Au over 4.75m and 25.4
g/t over 5.15m QUEENSWAY PROJECT
GOLDEN BULLET 50
00
Historic Showing/Zone N

Contains numerous historical and recent high-grade

702 g/t Au
43.2 g/t Au over 0.8m
Surface Gold Trends

drill hole gold intercepts: KNOB ZONE

106.0 g/t Au over 2.3m
Airborne Chargeability
Anomaly 45
00
N
14.8 g/t Au over 8.9m EM Lineaments
• GLN-90-11: 106.0 g/t Au over 2.3m 2130 g/t Au
EM/Mag Interpreted Faults
• GLN-93-17: 12.33 g/t Au over 10.67m including 38.14 g/t Au over 2.14m and 102.20 g/t Au over 0.76m LETHA ZONE Historic Au Soil Anomaly 40
WHITE SPRUCE ZONE 136.6 g/t Au
00
N
• LG99-03: 70.7g/t over 2.6m 324.8 g/t Au
137.5 g/t Au
225.6 g/t Au
106.3 g/t Au
Queensway Project Outline
Initial Planned Drilling Fences
• GLN-90-13: 19.8 g/t Au over 2.6m GROUSE ZONE
0.63 g/t Au over 36.0m Trans-Canada Highway 35
• LG99-02: 10.6 g/t Au over 2.8m 19.6 g/t Au
Diamond Drill Hole Intercapts
00
N

• LG99-01: 20.3 g/t Au over 8.6m 0.5 - 1.0 g/t Au

GLEN EAGLES ZONE 1.0 - 5.0 g/t Au
• NFGC-19-01: 92.9 g/t Au over 19.0m 33.7 g/t Au
> 5.0 g/t Au 30
00
N
• NFGC-20-17: 41.2 g/t Au over 4.75m and 25.4 g/t Au over 5.15m Rock Samples
0.5 - 1.0 g/t Au
1.0 - 5.0 g/t Au
25
*The historical resource estimate disclosed above was published by Gander River Minerals in the technical document titled “Eighth Year Assessment Report Summary of Diamond Drilling Activities Conducted Within Licence No. 4344 The ‘Knob’ Prospect N.T.S. 20/15” > 5.0 g/t Au 00
N
authored by Dean Sheppard, 1994. The reader is cautioned that the data used in the preparation of the historical resource estimate does not meet the current standards of exploration quality assurance and quality control protocols such that it should not be relied upon to
produce a current resource estimate for the Knob prospect. Significant additional drilling and data verification would be required to ensure the quality of historic data meets current standards for use in a resource estimate. Additionally, the methods used in the preparation
of the resource as a block long section methodology include certain assumptions of geological continuity and grade variography that are not adequate to treat this as a current mineral resource estimate. The historical resource estimate is not classified in accordance with
section 1.2 or 1.3 of NI 43-101 and therefore cannot be compared with current mineral resources or mineral reserves as defined in sections 1.2 or 1.3 of NI 43-101 as there has been no work completed to verify and classify such historical resource estimate. A Qualified N
0 0.5 1 2
Person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and the Company is not treating the historical estimate as current mineral resources or mineral reserves. Km 200
0N
-50 50 100 150
0N 0N 0N 0N 0N
QUEENSWAY NORTH:
JBP FAULT ZONE OVERVIEW

o ne
tZ
High grade gold system along 3km strike length

l
Fau
N
of the JBP Fault Zone 798 g/t Au Boulder

JBP
• Significant opportunity for expansion from the existing zones along strike and at depth
• Very few drill holes reach below 100m vertical depth and significant distances exist
1744
between gold zones with no drilling
H POND Glass Zone QUEENSWAY NORTH PROJECT
• Most of the drilling has occurred along a 3km segment of 15km of prospective JBP
structure on the northern part of the Queensway Project Diamond Drill Hole Intercapts
• Drilling along the JBP Fault Zone was a primary target of the 2019 drilling LOTTO
program 3 Km 0.5 - 1.0 g/t Au

2019 Drilling for H-Pond POCKET POND 1.0 - 5.0 g/t Au

> 5.0 g/t Au
• (1744 Zone) NFGC-19-09: 4.39 g/t Au over 9.0m (incl. 17.45 g/t Au over 2.0m)
• (H-Pond Zone) HP-19-05: 6.74 g/t Au over 3.0m Rock Samples
0.5 - 1.0 g/t Au
Significant Historic Drill Intercepts in the H-Pond 1.0 - 5.0 g/t Au
Prospect from 2004-2006 (32 Holes) > 5.0 g/t Au
• HP-04-03: 16.3 g/t Au over 2.4m
5 Km New Found Gold Corp Property
• HP06-35: 12.3 g/t Au over 1.1m
• HP05-15: 9.79 g/t Au gold over 1.2m
QUEENSWAY Gander Lake
• HP05-11: 6.91 g/t Au over 1.9m
NORTH EM Fault
Significant Historic Drill Intercepts in the Pocket EM Lineamont
Pond Prospect from 2004-2008 (15 Holes)
• HP08-44: 12.4g/t Au over 3.5m
• HP04-07: 6.63 g/t gold over 1.70m ne
Gander Lake
Zo
• HP08-48: (11.1 g/t Au over 11.9m)
TSX-V: NFG | 23
lt
 S E C T I ON 5

QUEENSWAY
SOUTH

TSX-V: NFG | -24-

24
 N

QUEENSWAY SOUTH:
GOLD IN TILL SURVEY APPLETON FAULT

JBP FAULT

• In 2018 an ambitious regional scale till sampling

program was completed targeting a 60 Km strike Gander
Southern Extension Lake
length of the southern extension of the Appleton and of Faults
JBP Fault Zone along a 2 x 2 km grid
• A secondary detailed till survey was then completed
along a section of the Appleton Fault Zone containing Detailed Till Program
Targeting Numerous Gold
numerous gold showings Showings ALong A Strong
LEGEND

NE
• There is a strong correlation between glacial till and Magnetic Lineament 2018 Regional Till Site

LI
Y
2018 Detailed Till Site
bedrock gold anomalies

BA

NE
G

LI
DO
• The work to date has outlined 6 broad areas of

UB
Gold Occurences

GR
anomalous gold in till – none of which correspond to Prospect
Showing
known gold in bedrock showings

LT
LT Trans Canada Highway

AU
U
• A detailed follow up regional till program is now FA Queensway Project

PF
N
underway to be followed by trenching and drilling O

JB
ET
PL
AP
0 5 10 20
Km

TSX-V: NFG | 25
 N

GOLD IN TILL ANOMALIES

• The extensive gold in till survey

GOLD ZONES ALONG 3KM OF JBP FAULT
yielded six large gold in till GOLD ZONES ALONG 5KM OF APPLETON FAULT

anomalies
Gander
• These gold in till anomalies are Lake

coincident with the Appleton and

JBP fault projections
• 2020 Queensway South field
work started at the Eastern Pond
EASTERN POND
ANOMALY LEGEND
Anomaly

NE
LI
Gold Showings

Y
BA
Gold in Till Anomaly

NE
G
DO

LI
First Order Structure

UB
GR
Second Order Structure
Queensway Project

LT
LT

AU
AU
F

PF
N
O

JB
ET
PL
AP
0 5 10 20
Km
TSX-V: NFG | 26
 N

Subcrop Sample
Cluster up to 15 g/t Au
EASTERN POND 2020
PRELIMINARY TILL RESULTS
EASTERN
POND LEGEND
Till Sample with
163 Pristine Gold Grains Pristine Gold Grain Count
• A recent discovery area 45 Field of Underwater
0-5
6-10
km south of Queensway Quartz Boulders
11-15
North drill program 16-25
New 2020 Samples 51-163
• Very high gold-grain-in-till > 1 g/t Au Results Pending
counts
Grab Samples g/t Au
• High percentage of pristine <0.1
gold grains 0.1-0.25
Cluster of Anomalous Till 0.25-1.0
• Sub-crop samples up to Samples With up to 127 1.0-5.0
Prisitne Gold Grains
15.0 g/t Au >5.0

• 4 km of strike defined by till Till Sample with Large Scale

17 Pristine Gold Grains Structures NE-NNE
and subcrop samples and
Mag Lineaments
open
EM Lineaments
EM Lineaments Area
2018 Gold
in Till Anomaly
Additional Till Samples
Pending Analysis

0 250 500 1,000 1,500 2,000

Meters
TSX-V: NFG | 27
 S E C T I ON 6

CURRENT DRILLING
AUGUST - OCTOBER
2020

TSX-V: NFG | -28-

28
KEATS ZONE KEATS/COKES

ONE
DRILLING ZONE
48
00

ULT Z
N

55

E FA
00
N
DISTAL HOLE

SELIN
47 TO TEST CHARGEABILITY
0 0N
ON STRIKE

S BA
• Two drills are now at Keats following up on the
CHARGEABLE ZONE 54
00
= N
2 HOLES BASELINE FAULT EXT

KEAT
intercept of 19.0m of 92.9 g/t Au starting at 96m
46 PLANNED AT
00 COKES ZONE
N

depth, drilled in NFGC-19-01 in late 2019 HIGH SOIL AU ALONG

STRIKE OF SURFACE VEIN
53
00
N

AND CHARGEABILTIY
• Eight holes on a 10m x 10m grid pattern are 45
00
N

being drilled around the NFGC-19- 01 intercept 2 DEEP HOLES

52
00
N

with the objective of determining the initial spatial 44

00
N
700M EACH

trend of the high-grade gold mineralization 510

0N

• Initially eight holes on a 10m x 10m grid pattern 43

00
N
LEGEND
8 HOLES AT
are being drilled around the NFGC-19-01 intercept STRONG EM CONDUCTOR
10M SPACING
AROUND 19-01
2019 Keats Zone Intercepts
Drill Holes
50
00
N

with the objective of determining the initial spatial 42

00
AND FLEXURE ON
EM CONTACT Planned Drill Holes
Drill Trace
trend of the high-grade gold mineralization
N

E
Airborne Interpreted Faults

ON
EM Contact

Z
• Due to the very high-grade nature of the

LT
Ground-Airborne Chargeability

U
410 4 HOLES FOLLOWING

FA
EM Conductor
mineralization a significant number of gold
0N
SOUTHERN STRIKE

ON
AND EM CONDUCTOR Au Soil Anomaly

ET
ounces can be contained in relatively small

PL
AP
40

volumes of rock. 
00
N

• Other holes will be drilled to test the extent of the 0 100 200 400
m
mineralization along 950m of strike length and to
vertical depths of 500m

TSX-V: NFG | 29
KEATS ZONE
NFGC-19-01 HIGH GRADE GOLD
INTERCEPT
• Several hundred grains/pieces of visible Keats/Baseline 2019 Drilling Nov 2019
Drill Hole NFGC-19-01 @ 106.5m
gold were intercepted over a 17m interval
in NFGC-19-01
• Intercept is approximately 50m below
historic drilling
• Intercept is only vertical depth 75m from
surface (open pit depth)
• The host structures/veins remain open
for expansion down dip and along strike

Visible Gold

TSX-V: NFG | 30
QUEENSWAY NORTH:
NEW LOTTO ZONE DISCOVERY
• Hole NFGC-20-17 intersected:
41.2 g/t Au over 4.75m starting 35m down hole and
LG99-07
25.4 g/t Au over 5.15m starting 57m down hole. 91.2 g/t Au over 2.3m LOTTO-DOME REGIONAL MAP

• NFGC-20-17 was collared close to a shorter, small New Appleton

Footwall Zone Lotto
Drill Holes
Planned Drill Hole

diameter historic hole (LG00-35) which had a Trench 34 NFGC Drill Hole
Historic Drill Hole

reported intercept of 20 g/t Au over 1.5m. Drill Hole Trace

w)
NFGC-20-17

w)
(ne
66 Geophysical Interpretations

(ne
00
25.4 g/t Au over 5.15m

Zo n
• Overall recovery in LG0035 was poor with significant
N

ne
all leto
Large Scale Structures

ne
incl. 138.3 g/t Au over 0.8m

otw App
NFGC-20-17

Zo
EM Lineaments

intervals lost in fault and gouge material. 41.2 g/t Au over 4.75m

ton
EM Contacts
incl. 108.7 g/t Au over 1.65m

ple
Fo
Ground IP Chargeability Zones

Ap
• New Found is drilling larger diameter holes, and with Geology Highlights
Surface Quartz Veining

careful drilling including slow penetration rates is Queensway Trench Outlines

lt
65
00 Au Soil Anomaly

Fau
getting high core recovery.
N
LG00-35

(ex line
Lotto Au Zone Corridors
Lotto

lt

t)
ne se
on
Trench 33

au
• As at Keats, the high-grade gold mineralization at
NFGC Drill Intercepts

Zo s-Ba
t
NFGC Drill Intercept Assays

eF

at
ple
Lotto

Ke
Lotto displays appears to be epizonal, similar to the Corridor “C” Historical Drill Intercepts

lin
Ap
64
00

ase
N

high-grade Swan Zone at the Fosterville mine.

-B
Lotto
• Hole NFGC-20-17 also intersected three additional Trench 32

ats
0 25 50 100

zones of quartz veining and sulphide mineralization

Ke
Lotto Meters
Corridor “B” Lotto
Corridor “A”

below the reported intervals. Assays are pending for

these intervals

TSX-V: NFG | 31
QUEENSWAY NORTH:
NEW LOTTO ZONE DISCOVERY
95

• At Keats the primary high-grade target occurs

00
N
QUEENSWAY PROJECT
along the Keats Baseline fault, a secondary
SAMPLE LEGEND
structure that parallels the Appleton fault 90
00
Drill Core Samples
N

200m east of the main Appleton fault. Surface Samples

Channel Samples
• Similarly, these new high-grade intercepts

e
on
Grab Samples 85
00

lt Z
2km north at Lotto appear to be in structures
N

u
QUEENSWAY PROJECT

Fa
paralleling the Appleton fault on the east side

ton
Historic Showing/Zone 80

• An IP geophysics survey shows a

00

ple
N
Surface Gold Trends

Ap
chargeability response that also parallels the Airborne Chargeability
Anomaly ZONE 36
Appleton fault between Keats and Lotto for EM Lineaments
2 New Veins Exposed over
100m Strike Length in 2020
75
00
N

approximately 2km (and open), again offset to EM/Mag Interpreted Faults TRENCH 26 LOTTO ZONE
41.2 g/t Au over 4.75m
1.05 g/t Au over 29.1m 25.4 g/t Au over 5.15m
the east side. Historic Au Soil Anomaly 14.3 g/t Au over 2.1m
10.0 g/t Au over 2.3m
Queensway Project Outline POWERLINE ZONE 934.4 g/t Au
70
00

• New Found’s ongoing drilling program will

N
2.01 g/t Au over 6.0m 425.8 g/t Au
Initial Planned Drilling Fences 12.3 g/t Au DOME ZONE
continue to target this corridor east of the Trans-Canada Highway
LITTLE ZONE
20.3 g/t Au over 8.6m
70.7 g/t Au over 2.6m

m
729 g/t Au over 1.5m
Appleton fault between Keats and Lotto, Diamond Drill Hole Intercapts

2K
65
18.6 g/t Au over 7.5m 00
0.5 - 1.0 g/t Au 3.06 g/t Au over 7.0m ROAD ZONE N

as part of its grid drilling program testing 1.0 - 5.0 g/t Au

15.4 g/t Au over 2.7m
5.68 g/t Au over 11.0m
50.0 g/t Au over 2.0m
> 5.0 g/t Au NO DRILLING
multiple targets along 5km of the Appleton Rock Samples
COKES ZONE
TO DATE
60
00
2.7 g/t Au over 2.7m
Fault Zone.
N
0.5 - 1.0 g/t Au 3.4 g/t Au over 5.9m
1.0 - 5.0 g/t Au KEATS ZONE
> 5.0 g/t Au 92.86 g/t Au over 19.0m incl.
285.2 g/t Au over 6.0m 55
BOWATER ZONE 1869 g/t Au 00
N
NO DRILLING
8.84 g/t Au over 1.0m NO GEOCHEM
0 0.5 1 2
Km
 S E C T I ON 7

FOSTERVILLE SWAN
ZONE ANALOG

TSX-V: NFG | -33-

33
COMPARISON TO THE FOSTERVILLE SWAN ZONE
Queensway Project Fosterville Mine Queensway Project Fosterville Mine

Left, core from the Keats zone, Queensway Project; right, core from the Eagle Left, core from the Keats zone, Queensway Project; right, hand specimen from
zone, Fosterville Mine. Comparison of intense quartz stock work with relict black the Eagle zone, Fosterville Mine. Comparison of quartz veining displaying relict
shale fragments from each deposit. Specks of visible gold are present in quartz banding from each deposit. Dark material at the bottom is relict shaley material.
veins and their selvages. Gray patches contain fine grained antimony sulfides, Such banding is probably an original texture resulting from open space filling of
boulangerite on left and stibnite on right. quartz sulfides and gold at the time of deposition. Open space filling is indicative
of a shallow level of deposition for both deposits.
TSX-V: NFG | 34
COMPARISON TO THE FOSTERVILLE SWAN ZONE
(CONTINUED)
Queensway Project Fosterville Mine Queensway Project Fosterville Mine

Left, core from Keats zone, Queensway Project; right, core from the Eagle zone, Left, core from Keats zone, Queensway Project; right, core from the Eagle zone,
Fosterville Mine. Comparison of vein quartz displaying numerous vugs, or small Fosterville Mine. Comparison of gray and white quartz vein material with numerous
cavities, lined with quartz crystals from each deposit. Native gold is also visible small specks of native gold from each deposit. Grey specks are mostly antimony
in each sample. Such open space cavities are indicative of a shallow level of minerals, boulangerite on the left and stibnite on the right. Some gray flecks are
deposition for both deposits. particles of black shale caught up in quartz. Such fine gold particles likely formed
through rapid precipitation of gold in a shallow epizonal regime within an orogenic
system, an indication of a shallow level of deposition for both deposits.
TSX-V: NFG | 35
 Craig Roberts
[email protected]
newfoundgold.ca
TSX-V: NFG | OTC: NFGFF