New Found Files Form 20-F with Intention to List on the NYSE American

Vancouver, BC, February 1, 2021: New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG, OTC: NFGFF) is pleased to announce that it has filed a Form 20-F registration statement with the United States Securities and Exchange Commission (the “SEC”) with the intention of applying to list its common shares (the “Common Shares“) on the NYSE American stock exchange (the “NYSE American”). Subject to the approval of the SEC and the satisfaction of all applicable listing and regulatory requirements, the Company will become an SEC registrant and expects its Common Shares to commence trading on the NYSE American in H1 of 2021.

Collin Kettell, Executive Chairman of New Found, commented, “Since completing our IPO, we have had significant demand from US investors seeking to participate in the New Found story. Listing on the NYSE American will provide trading access to US-based funds and retail investors, further enhancing our liquidity and visibility.”

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. With working capital of approximately C$62M the Company is well financed to continue its aggressive 200,000 meter drill program which commenced in August 2020. New Found has a proven capital markets and mining team with major shareholders including Palisades Goldcorp (33%), Eric Sprott (18%), Novo Resources (11%), Rob McEwen (7%), other institutional ownership (8%), and management, directors, and insiders (4%).

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