VIRGINIA PROPERTY

Virginia Property

The Virginia property is approximately 5.7 kilometres northeast of New Found Gold's drill hole NFGC-19-01 which intersected 92.86 grams per tonne gold over 19 metres (see Mexican Gold Corp. press release dated Jan. 26, 2020)*. The Virginia property comprises 100 hectares and is located 3.3 kilometres north-east of the village of Glenwood, which is situated on the Trans-Canada Highway. Results to date support the work completed in the early 1990’s by Manor Resources Ltd. (“Manor”), and documented in Assessment File NFLD_2244, which reports two areas of mineralization (zone A-2). One showing comprised quartz veining developed over a 35 metre wide zone within sheared gabbro and graphitic shale (main shear) returning up to 8.7 grams per tonne gold (g/t Au), and a second showing comprised a sheared gabbro returned a grab sample up to 109.6 g/t Au *. The Virginia property was drilled by Manor in 1991, with a series of short holes on geophysical targets, before the mineralization in the A2 trench was defined in 1992, and the gold showing area has not been drilled. The Company is focused on confirming and extending these known mineral showings.