Newfoundland Discovery acquires Ganda gold-rare earth project in Angola

786 sq.km licence in the same geological province as Angola's first rare earth mine

Vancouver, British Columbia--(Newsfile Corp. - August 10, 2026) - Newfoundland Discovery Corp. (CSE: NEWD) (OTC Pink: NEWDF) (the "Company" or "NEWD") is pleased to announce that it has entered into a definitive share exchange agreement (the "Agreement") to acquire 100% of Orenoxe Holdings Corp. ("Orenoxe"), which holds the right to acquire, by staged earn-in, up to a 70% interest in GOLDANGO - Mineração, Lda., with an option to increase its interest to 90%. GOLDANGO holds the 786 km² Ganda gold-rare earth concession in Benguela Province, Angola (the "Ganda Project").

Regional setting of the Ganda Project (red box), Benguela Province, central-western Angola - near the Atlantic ports of Lobito and Benguela and approximately 80 km from the city of Huambo. Yellow lines denote provincial boundaries.

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Transaction Highlights:

District-scale entry: 786 km² of prospective ground spanning three provinces in one of Africa's last under-explored gold and critical-minerals frontiers, with an application to convert to an Exploitation Licence already filed.

Gold plus rare earth elements plus copper: the licence captures gold as the primary target, with rare earth element, copper and base-metal rights contractually secured.

Two-thirds of a greenfield program already done: full-concession airborne magnetics, radiometrics and ASTER hyperspectral coverage completed, together with a 2022 field campaign that confirmed gold and REE indicator mineralogy and identified 105 favourability targets across the concession.

Widespread near-surface gold evidence: six years of satellite imagery (2019-2025) document rapidly expanding artisanal surface workings across multiple corridors of the concession, with mapped workings on both flanks of a central ridge - a pattern consistent with a hard-rock source.

Proven rare earth neighbourhood: the Ganda Project lies approximately 60 km from Pensana Plc's Longonjo NdPr project - Angola's first rare earth mine, with a JORC resource of 313 Mt @ 1.43% REO (22 million tonnes @ 3.04% TREO Reserve). *Mineralization on nearby properties is not necessarily indicative of mineralization on the Ganda Project.

Performance-based consideration: 9,100,000 of the 19,000,000 consideration shares (approximately 48%) are issuable only upon US$1,000,000 of exploration expenditures being incurred on the Property, and lapse if that expenditure is not completed within 24 months of closing; all consideration shares are subject to staged contractual lock-ups of up to 24 months.

Fully-funded first phase: the Company's Stage 1 exploration program of US$1,000,000 over 15 months is underway under the earn-in, vesting a 51% interest in the licence holder, increasing to 70% at US$2,000,000 and up to 90% under a buyout option.

Mr. Jeremy Prinsen, President and CEO of Newfoundland Discovery, commented: "Ganda is the kind of asset a junior rarely gets a clean run at - nearly eight hundred square kilometres of gold, rare earth elements and copper minerals potential ground, already flown airborne magnetics, already field-validated, in a jurisdiction that has just proven it can permit and build a rare earth mine. The artisanal miners found the smoke years ago; our program goes after the fire. We have structured this transaction so the vendors win when our shareholders win - most of their paper only issues once a million dollars of exploration is in the ground."