Toronto, Ontario - NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD) (OTC PINK: NEWDF) (FSE: M4K) ('Newfoundland Discovery' or the 'Company') is pleased to announce that a 1,000-line kilometre airborne Triaxial Gradient Magnetometer ('MAG') survey has commenced on the Maxwell gold property ('Maxwell') in the Chapais-Chibougamau area of Quebec (see location map below). The MAG survey will cover the entire 9,400-hectare property.

Maxwell is a project that the Company entered into an option agreement with Gitennes Exploration Inc. (TSXV: GIT) to acquire up to an 85% interest in on November 3rd, 2022. The project is situated between two of Iamgold Corporation's properties with the Monster Lake high grade gold property six km to the east (see Figure 1). Maxwell has several occurrences of gold in both the fine and heavy fraction of glacial tills and the gold in tills is associated with mapped structures. The structures are northeast trending, similar to Iamgold's Nelligan property. Maxwell has seen very little exploration and several EM geophysical anomalies remain untested.

About Newfoundland Discovery Corp.

Newfoundland Discovery is a Canadian junior mining exploration company focused on exploration and development along the Detour Gold trend in Quebec and the Central Gold Belt in Newfoundland and Labrador. The Company is one of the largest mineral claim holders in the Detour trend and retains significant landholdings in Newfoundland.

Contact:

Investor

Email: info@newfoundlanddiscovery.com

Website: www.newfoundlanddiscovery.ca

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Forward-Looking Statement

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