Newfoundland Discovery acquires Ganda gold project in Angola

786 km² licence in a country that has seen little modern gold exploration; geologist on site since August with multiple hard-rock source targets identified

Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - Newfoundland Discovery Corp. (CSE: NEWD) (OTC Pink: NEWDF) (the "Company" or "NEWD") is pleased to announce that, further to its news release dated August 10, 2026, it has received Canadian Securities Exchange approval and closed on the 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 concession in Benguela Province, Angola (the "Ganda Project").

Figure 1: Field geological map of the Ganda Project from the Company's August 2026 mapping program: mapped lithological units, contact traces, lineaments and structural readings, with artisanal workings and drainage shown

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/7129/315373_aa4e205b6420bbc9_001full.jpg

Highlights:

A new gold district in the making: 786 km² of contiguous ground spanning the Provinces of Huambo, Benguela and Huíla, in a country whose mineral sector has historically been built on diamonds and oil and where systematic modern gold exploration has barely begun.

Regional dataset in hand: the concession is covered by 1 km line-spaced airborne magnetic and radiometric surveys flown under the Angolan government's PLANAGEO national geological programme.

PEMCO Mining Services integrated with ASTER satellite imagery and a 2022 field campaign to identify 105 favourability targets across the licence generating a regional framework the Company is now building on with ground work.

Boots on the ground: the Company has engaged Daniel Onisto Carneiro as Senior Project Geologist. Mr. Carneiro has been mapping and prospecting on the concession since the beginning of August 2026 and has identified multiple potential hard-rock source targets across the licence. The Company is preparing to set out its next steps in the exploration of the Ganda Project.

Vendors paid on performance: 9,100,000 of the 19,000,000 consideration shares issue only after US$1,000,000 of exploration is spent on the Property, and all consideration shares are locked up in stages for up to 24 months.

Mr. Jeremy Prinsen, President and CEO of Newfoundland Discovery, commented: "Angola is one of the last places in Africa where a junior can take a district-scale position in ground that has never seen modern gold exploration. Diamonds and oil built this country's mining industry; gold has barely been looked at with today's tools. We have had Daniel Carneiro, our Senior Project Geologist, on the licence since the beginning of August, we now have multiple hard-rock targets to work with, and we are preparing to show the market how we intend to go after them. While our focus is gold we also recognize the potential for other commodities as they arise as we advance a new gold district in Angola."