Newfoundland Discovery Acquires Gold Project in Angola

Newfoundland Discovery Corp. (CSE: NEWD) (OTC Pink: NEWDF), a Canadian mineral exploration company listed on the Canadian Securities Exchange, has announced the acquisition of 100% of Orenoxe Holdings Corp. The acquisition, which was finalized in a definitive share exchange agreement, grants Newfoundland Discovery Corp. the right to acquire up to a 70% interest in GOLDANGO - Mineração, Lda., with the option to increase its interest to 90%. GOLDANGO holds the 786 km² Ganda gold concession in Benguela Province, Angola.

The acquisition of the Ganda gold concession marks a significant opportunity for Newfoundland Discovery Corp. in Angola, a country with a historically underexplored gold sector. The Ganda Project, which comprises Prospecting Licence No. 010/03/03/T.P/ANG-MIREMPET/2023, covers approximately 786 km² across the Provinces of Huambo of Angola. The concession is situated approximately 80 km from the city of Huambo of Angola, a major regional center connected by rail to the Atlantic port of Lobito via the Benguela Railway.

The Ganda Project is covered by regional airborne magnetic and radiometric surveys flown at 1 km line spacing under the Angolan government's PLANAGEO national geological programme. These surveys were subsequently integrated with ASTER satellite imagery and a 2022 field campaign, which generated a regional framework for exploration. The Company has engaged Daniel Oneto Carneiro as the Senior Project Geologist, who has been mapping and prospecting on the concession since the beginning of August 2026. Carneiro has identified multiple potential hard-rock source targets across the concession, which the Company is now preparing to explore.

The acquisition includes a 100% stake in Orenoxe Holdings Corp., which has been acquired by Newfoundland Discovery Corp. in consideration for US$220,000 in cash, US$140,000 in kwanza to cover licence fees payable to the Angolan mining authorities, and deferred cash payments totaling US$450,000, payable in instalments at the Company's discretion within 12 months of closing. Additionally, the Company issued 9,900,000 common shares of NEWD at closing at a deemed price of $0.12 per share, and a further 9,100,000 common shares are issuable upon completion of US$1,000,000 in qualifying exploration expenditures on the Ganda Project, subject to the policies of the Canadian Securities Exchange and lapsing if the milestone is not achieved within 24 months. No shareholder of Orenoxe will hold 10% or more of the Company's issued and outstanding shares following closing or following the milestone issuance.

The acquisition of the Ganda Project is a significant step for Newfoundland Discovery Corp. in Angola, a country with a mineral sector dominated by diamonds and oil. The Company believes that the Ganda Project presents an opportunity to open a new gold district in Angola, a country that has seen almost no modern, systematic exploration applied to evaluating its gold potential. The acquisition of the Ganda Project adds a district-scale gold exploration asset to Newfoundland Discovery Corp.'s portfolio of Canadian exploration properties.

The acquisition of the Ganda Project is expected to provide Newfoundland Discovery Corp. with a strong foothold in Angola, a country with a large, geologically favourable Precambrian terrane that is the same craton-margin setting that hosts major gold districts elsewhere in Africa. The Company's current geological model for Ganda envisages gold hosted in structurally controlled quartz veins and altered wall rocks within a volcanic, metasedimentary and intrusive package, with tropical weathering and erosion having redistributed part of the gold into the surface environment now worked by artisanal miners. The Company is in the process of planning license-wide systemic exploration, which will include geochemistry and geophysics, with initial areas of study including the zones that are interpreted to be the source areas for the extensive alluvial workings.