Newfoundland Discovery Secures Expansive Lithium Property in Northwestern Ontario

Toronto, August 21, 2023 - Newfoundland Discovery Corp. (CSE: NEWD) (OTC: NEWDF) (FSE: M4K) ("Newfoundland Discovery", "NEWD", or "the Company") proudly announces its 100% acquisition of the "Voltstone Project", an extensive mineral property located in Northwestern Ontario, acquired through strategic internal staking.

The Company's cost-efficient approach led to the acquisition of 266 mineral claims. This new project is strategically located less than 10 kilometres from Pegmatite One's (CSE: PGA) Frazer Mound Property, a significant lithium discovery. Geological analysis confirms the Voltstone Project shares the same foundational geological characteristics as the Pegmatite One Frazer Lake Discovery.

Satellite imagery-driven preliminary evaluations indicate the presence of promising mineralization within the Voltstone Property. Distinct outcrops and potential mineral trends identified before this acquisition solidified Voltstone's potential. It is now poised to stand alongside the eminent lithium discoveries within Ontario's renowned lithium belt as NEWD has several lithium potential projects. This belt is home to notable lithium-focused companies such as Ultra Lithium, Rock Tech Lithium, Newpath, Imagine Lithium, Clean Air Metals, Brunswick, and most recently, Pegmatite One Lithium.

Map 1: Depiction of Ontario's Lithium Belt, highlighting the strategic locations of NEWD's projects.

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Map 2: Close-up view detailing NEWD's Voltstone Project relative to other lithium explorers like Pegmatite One.

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CEO Jeremy Prinsen commented, "This isn't merely another acquisition. It's our stake in the rapidly evolving Canadian lithium market. Initial evaluations of the Voltstone Project are promising, and we're preparing for an extensive exploration phase. As the global focus shifts to sustainable energy, the crucial role of lithium becomes undeniably evident."

Plans are underway for NEWD's first pass exploration program for Voltstone, targeting potential mineralized zones and setting the stage for more exploratory endeavours.

About Newfoundland Discovery Corp.
Newfoundland Discovery Corp. (CSE: NEWD) (OTC: NEWDF) is a dynamic 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 exciting lithium prospects in the Hearst, Ontario district, a robust 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: +1 (236) 513-4653
Email: info@newfoundlanddiscovery.com
Website: www.newfoundlanddiscovery.ca

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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.

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