Newfoundland Discovery : Enters into Settlement Agreement

Toronto, ON, June 18, 2024 -NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD, OTC: NEWDF, FSE: M4K-FF) ("Newfoundland Discovery" or "the Company") announces that it has signed a settlement agreement with Planet X Exploration Services Ltd. ("Planet X") pursuant to which the Company shall transfer Planet X all mineral claims comprising the Company's Rodger's Cove Property, located in the Province of Newfoundland and Labrador, in consideration of Planet X releasing debt relating to exploration services to the Company in the amount of $477,770.50.

About Newfoundland Discovery Corp.

Newfoundland Discovery Corp. (CSE: NEWD) (USA: NEWDF) is a Canadian junior mining exploration Company, with a primary focus on the exploration and development of mineral assets in active Canadian mining districts. Our portfolio of projects includes lithium prospects in the Hearst, Ontario district, a portfolio of precious and base metal projects in Newfoundland, and a strategic early-mover foothold on projects in the Detour Lake Gold Mine district of Ontario.

On Behalf of the Board of Directors,

NEWFOUNDLAND DISCOVERY CORP.

"Jeremy Prinsen"

President, CEO & Director

Corporate Communications

Phone: [phone]

Email: [e-mail]

Website: www.newfoundlanddiscovery.ca

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Forward-Looking Statement

This news release may contain certain "forward-looking statements" within the meaning of applicable securities laws. Such statements include, but are not limited to, statements regarding the Company's exploration plans, results, and objectives. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, exploration risks, commodity prices, market demand, and other factors beyond the Company's control. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results, or otherwise.