New Found Gold Corporation (NFGC)

New Found Gold expands $44M Queensway program

https://www.canadianminingjournal.com/news/new-found-gold-expands-44m-queensway-program/

New Found Gold Files First Quarter 2026 Financial StatementsMay 12, 2026 7:30 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") announces that it has filed its first quarter 2026 financial statements and the related Management's Discussion and Analysis (together, the "Q1 Financials"), with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"). The Q1 Financials will be available under the Company's profile on SEDAR+ at www.sedarplus.ca, the EDGAR system of the SEC at www.sec.gov, and on the Company's website at www.newfoundgold.ca.About New Found Gold Corp.New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Gold Project ("Queensway") and Hammerdown Gold Project, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.Throughout 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp. Contact For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact: Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 775-2700
Email: contact@newfoundgold.ca Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.Qualified PersonThe scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements regarding the availability of Q1 Financials under the Company's profile on SEDAR+ at www.sedarplus.ca, the EDGAR system of the SEC at www.sec.gov, and on the Company's website at www.newfoundgold.ca; the Company's focus on advancing Queensway to production and bringing the Hammerdown deposit into commercial gold production; statements regarding recent drilling results and the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on grow and value creation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca and on the website of the United States Securities and Exchange Commission at www.sec.gov for a more complete discussion of such risk factors and their potential effects.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297258 Original: New Found Gold Files First Quarter 2026 Financial Statements

A Positive Gold-Antimony PEA Just Landed in a Fast-Track Jurisdiction, with 19,000 Metres of Drilling Already UnderwayMay 6, 2026 9:00 AM
PR Newswire (US) Issued on behalf of Rua Gold Inc.With antimony designated a U.S. Critical Mineral and gold pushing past US$4,500 per ounce, the small group of named developers with a positive PEA, a permitting pathway, and an active drill program just got a lot more interesting — one of them just published the numbers this week.VANCOUVER, BC, May 6, 2026 /PRNewswire/ -- Equity-Insider.com News Commentary — Two stories collided this quarter and most generalist investors haven't connected them yet. Gold has spent 2026 making and re-making record highs as central banks keep buying and major producers keep guiding output declines. Antimony — quietly designated by the U.S. as a Critical Mineral after China's late-2024 export restrictions — has become one of the most strategically sensitive metals on the Department of War's watchlist[1]. The names that sit at the intersection of those two stories — gold-antimony developers in friendly jurisdictions, with a real economic study, a permitting path, and a drill rig in the ground — are a very short list. That's the lane that just got crowded with new data. The supply side for both metals is breaking in slow motion. Major gold producers are guiding 2026 output lower because reserves are draining faster than discoveries can replace them. Antimony is even tighter — China still controls the majority of global supply, and the West is racing to stand up domestic and allied production. The premium goes to companies that are already permitted, already funded, and already turning the drill bits. Rua Gold Inc. just delivered all three at once.Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTC: NZAUF) (FSE: X9R) is the textbook version of that profile. On May 5, the Company released the results of a positive Preliminary Economic Assessment ("PEA") for the 100%-owned Auld Creek Gold-Antimony Project, located in the historic Reefton Goldfield on New Zealand's South Island. The base case delivers an after-tax NPV5% of US$42 million and an after-tax IRR of 17% with a 3.3-year payback. At spot gold (US$4,700/oz), those numbers move to US$113 million NPV and 36% IRR with payback inside 2.2 years. Initial capex is US$132.6 million — including a 29% contingency — for a 5.5-year, 250,000 tpa underground operation producing two saleable concentrates: gold and antimony.The PEA is a clean, conservative scoping study, not a stretch. Recoveries are 95% gold and 85% antimony from a simple grind-and-flotation circuit with no cyanide. The mine is underground decline access from surface portals, with the on-Crown-land footprint targeted at less than one hectare. Cash costs land at US$1,400/oz gold and AISC at US$1,850/oz, comfortably inside the global cost curve at any reasonable price deck. And critically, RUA GOLD has already initiated a 19,000-metre infill and step-out drill program targeting both Inferred-to-Indicated conversion ahead of a planned PFS and resource extension at depth and northwards — with the Inferred Resource open in both directions.Robert Eckford, CEO of Rua Gold, framed the milestone directly[2]: "The Auld Creek PEA highlights the strong cash flow generation, compelling economics, and scalability potential within the Reefton Goldfield. This study represents only a portion of the broader district opportunity, with significant upside remaining at depth and along strike. With drilling underway and permitting advancing, we are well positioned to deliver a PFS in Q4 2026 and take advantage of New Zealand's Fast-Track Approvals permitting process."The Investor's Five Questions, Answered1. Why Auld Creek when there are larger gold deposits in the same conversation?Because most larger projects don't have antimony as a dual-revenue stream, and most don't sit inside a Fast-Track Approvals jurisdiction. Auld Creek's PEA models contained metal of 84,000 ounces gold plus roughly 9,000 tonnes of antimony over the initial 5.5-year mine plan. The antimony exposure isn't a side note — at the PEA's US$27,000/t antimony price, the by-product credit is what drives the cost-per-ounce structure. And the Reefton Goldfield itself has historic production of more than 2 million ounces at grades reportedly between 9 and 50 g/t[2], with more than 120,000 hectares of permits under Rua Gold's control across the district.2. What's the catalyst path from here?It's a tight, well-defined sequence. RUA GOLD has already approved a work plan to advance the project to PFS stage, including the ongoing 19,000-metre drill program, metallurgical testing, geotechnical investigations, mine optimization and trade-off studies, detailed process design work, updated resource and mine plans, and baseline environmental and social surveys. Eckford has signaled the Company is positioned to deliver a PFS in Q4 2026 and to leverage New Zealand's Fast-Track Approvals permitting process — the same regime now being used by other large mining projects on both islands. The Company will file an independent NI 43-101 Technical Report on SEDAR+ within 45 days of the May 5 release.3. How real is the PEA's growth potential beyond the base case?Real enough that the next eighteen months are about expanding the deposit, not just confirming it. The current Mineral Resource Estimate for Auld Creek (effective February 27, 2026) reports 0.3 million tonnes Indicated at 5.67 g/t AuEq for 54,000 ounces, plus 1.3 million tonnes Inferred at 3.66 g/t AuEq for 150,000 ounces — at a 1.6 g/t cut-off. The Inferred Resource remains open at depth and to the north, and the active 19,000-metre infill and step-out drill program is specifically designed to target both directions. Per the Company's own disclosure, the program has the potential to further improve production volumes and extend the LOM beyond the current 5.5-year base case[2].4. What about Glamorgan — is the second project a real second leg?Glamorgan is the longer-dated optionality lever. The project is located in New Zealand's North Island Hauraki District, a region that has reportedly produced an impressive 15 million ounces of gold and 60 million ounces of silver historically[2]. It puts Rua Gold into both of New Zealand's most prolific historical gold districts at once — Reefton on the South Island for the near-term build, Hauraki on the North Island for the longer-cycle growth. Few small developers in any jurisdiction can claim that kind of district-scale footprint at this market cap.5. Who's signing off on the technical work?The PEA is signed off by three independent Qualified Persons within the meaning of NI 43-101: Abraham Whaanga, BSc, MAusIMM (CP) of RSC for the resource work; Gary Davison, FAusIMM, Principal Mining Engineer and Director of Mining One Consultants for mining methods, mining capital and operating costs, and economic analysis; and Marius Phillips, NHD Ex Met, MAusIMM (CP), RPEQ, Technical Director of Pitch Black Group for plant capital and operating costs, mineral processing, and metallurgical testing and recovery methods. Each QP has independently reviewed and verified the relevant underlying data and is independent of Rua Gold Inc. The PEA also identifies multiple Opportunities for Enhancement — including infill and exploration drilling, optimized metallurgical and process design, geotechnical optimization, and infrastructure scheduling — that the work plan is now systematically advancing.Five Reasons This Is the Setup1. PEA published, not pending. Auld Creek delivers US$42M after-tax NPV5%, 17% IRR, and 3.3-year payback at base case — and US$113M / 36% / 2.2 years at spot gold. The economic study isn't theoretical; it's on file as of May 5, 2026.2. Two saleable concentrates, no cyanide. The flowsheet is conventional grind, rougher flotation, and four-stage cleaner flotation — producing a gold concentrate and a separate antimony concentrate. Recoveries are 95% gold and 85% antimony. Lower technical risk than refractory-ore projects.3. Permitting pathway clarified. Per the CEO, the Company is positioned to take advantage of New Zealand's Fast-Track Approvals permitting process, with the PFS targeted for Q4 2026.4. 19,000 metres turning right now. The infill and step-out drill program is underway, targeting both the conversion of Inferred Resources to Indicated ahead of PFS, and step-out drilling that has the potential to further improve production volumes and extend the LOM beyond the current 5.5-year base case.5. Two world-class districts, one company. Reefton (South Island, >2 Moz historic at 9-50 g/t) for near-term build economics. Glamorgan (North Island Hauraki, ~15 Moz Au + 60 Moz Ag district-scale endowment) for longer-cycle growth.NOTE: For a Cautionary Note on the PEA and on the inclusion of Inferred Resources, please see the Disclaimer below.Read this and more news for Rua Gold at: https://equity-insider.com/rua-profile/In other industry developments and happenings in the market include:Nova Minerals Limited (NASDAQ: NVA) recently provided its quarterly activities update covering antimony grant progress, Estelle Project advancement, and corporate growth.Nova advanced its U.S. Department of War-funded antimony work program at the Estelle Gold-Antimony Project in Alaska, with the grant supporting domestic critical mineral capacity development[3]. The Estelle Project is positioned as a strategic gold-antimony development in a U.S. jurisdiction, mirroring the dual-metal exposure thesis that has become a central theme for North American critical-mineral developers in 2026."The combination of gold and antimony at Estelle gives us exposure to two metals where U.S. policy support continues to strengthen," Nova has previously stated. The Department of War antimony grant work and the broader Estelle exploration program form the core of Nova's near-term value drivers.GoldMining Inc. (NYSE American: GLDG) (TSX: GOLD) released results of an updated Preliminary Economic Assessment for its La Mina Project in Antioquia, Colombia[4].The updated PEA reports an after-tax NPV5% of approximately US$1.0 billion and an after-tax internal rate of return of 32.2% at base-case metal prices, with initial capital costs of US$523.3 million. The study contemplates an 11.2-year open-pit mine life processing 61.3 Mt of ore at 15,000 tpd, with average life-of-mine annual production of approximately 137,000 ounces gold equivalent. Total cash costs are estimated at US$872 per ounce gold and all-in sustaining costs at US$1,045 per ounce gold on a by-product basis. At higher spot-price assumptions, after-tax NPV5% rises to US$1.8 billion with after-tax IRR of 49.1% and payback improving to 1.9 years."The updated Project PEA highlights the underlying quality of the La Mina porphyry gold-copper mineral system," said Alastair Still, CEO of GoldMining. "By capturing current market consensus metals pricing, the PEA conceptualizes a robust $1.0 billion base case project that is characterized with an efficient capital intensity."New Found Gold Corp. (NYSE American: NFGC) (TSXV: NFG) released final 2025 infill and step-out drill results from the AFZ Core area at the Queensway Gold Project in Newfoundland and Labrador[5].The results confirmed strong continuity of gold mineralization in the Phase 1 open pits at Keats West, Iceberg, and Keats, while step-out drilling intersected new high-grade zones below planned Phase 2 pits. Highlights include 9.51 g/t Au over 19.85 metres at Keats West and 2.68 g/t Au over 16.40 metres in step-out drilling. The Company has also restarted its 2026 Queensway drill program with four rigs currently active, focused on resource conversion ahead of an updated Queensway technical report planned for the second half of 2026.Mako Mining Corp. (NASDAQ: MAKO) (TSXV: MKO) reported additional exploration results from the ongoing reverse-circulation and diamond drilling program at the San Albino Project's Las Conchitas area in northern Nicaragua[6].Drilling at the Candelaria zone within the Las Conchitas South area extended the footprint of gold mineralization more than 450 metres along strike from the existing Limon-Mango-Bayacun pit. Standout intercepts included 26.98 grams per tonne gold and 48.4 g/t silver over 7.0 metres (6.8 metres estimated true width) and 21.79 g/t Au with 23.0 g/t Ag over 5.0 metres. The area is fully permitted for mining, and management indicated plans to begin development southwest of the Candelaria fault once the rainy season ends in Q4 2026."These drill results at the San Albino Project are among the most significant over the past six years of mining," said Akiba Leisman, CEO of Mako. "We intersected multiple 100 gram-meter intercepts over 450 meters of continuous strike. The current LMB pit remains open at depth, therefore if these results are proven economical, they have the potential to make the current LMB pit significantly larger."FURTHER READING: https://equity-insider.com/rua-profile/CONTACT:
EQUITY INSIDER
info @acblanke1SOURCES:[1] U.S. Department of War critical minerals designations and China antimony export restrictions effective late 2024.[2] Rua Gold Inc. (May 5, 2026), "RUA GOLD Announces Positive PEA for the Auld Creek Gold-Antimony Project in Reefton, New Zealand."[3] Nova Minerals Limited quarterly activities update (April 29, 2026).[4] GoldMining Inc. (April 28, 2026), "GoldMining Announces Updated PEA Highlighting $1.0 Billion After-Tax NPV and 32% IRR at La Mina Project, Colombia."[5] New Found Gold Corp. (May 4, 2026), drill program update — Queensway Gold Project AFZ Core.[6] Mako Mining Corp. (May 4, 2026), "Mako Mining Intersects 26.98 g/t Au over 6.8 m Estimated True Width at Las Conchitas."DISCLAIMER:Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. (MIQ). MIQ has been paid a fee for Rua Gold Inc. advertising and digital media. There may also be 3rd parties who may have shares of Rua Gold Inc. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ does not currently own shares of Rua Gold Inc. but reserves the right to buy and sell shares of Rua Gold Inc. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, has been approved by Rua Gold Inc.Cautionary Note on Production Decision and PEA:The PEA disclosed by Rua Gold Inc. for the Auld Creek Gold-Antimony Project is preliminary in nature; it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Any decision to commence production at Auld Creek would not be based on a feasibility study of mineral reserves and therefore would involve increased uncertainty and a higher risk of economic and technical failure. Risks include, without limitation, variations in grade and recovery, unexpected geotechnical or metallurgical challenges, cost overruns, funding availability, and operational, regulatory, or permitting risks under New Zealand's Fast-Track Approvals framework or otherwise. This is a paid advertisement. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.Logo - https://mma.prnewswire.com/media/2840019/5955888/Equity_Insider_Logo.jpg View original content to download multimedia:https://www.prnewswire.com/news-releases/a-positive-gold-antimony-pea-just-landed-in-a-fast-track-jurisdiction-with-19-000-metres-of-drilling-already-underway-302763953.html Original: A Positive Gold-Antimony PEA Just Landed in a Fast-Track Jurisdiction, with 19,000 Metres of Drilling Already Underway

https://finance.yahoo.com/markets/commodities/articles/found-gold-continues-confirm-continuity-105800003.html

New Found Gold Closes Bought Deal Financing Including Full Exercise of Underwriters’ Over-Allotment Option for Gross Proceeds of $115M
(TSX-V: NFG | NYSE-A: NFGC)

VANCOUVER, British Columbia – April 27, 2026 – New Found Gold Corp. (“New Found Gold” or the “Company”) (TSXV: NFG | NYSE American: NFGC) is pleased to announce that it has closed its previously announced “bought deal” public offering of 38,870,000 common shares of the Company (the “Common Shares”) at a price of $2.96 per Common Share (the “Offering Price”), including the exercise, in full, of the Underwriters’ (as defined below) over-allotment option (the “Over-Allotment Option”) of 5,070,000 Common Shares at the Offering Price per Common Share, for aggregate gross proceeds of $115,055,200 (the “Offering”).

The Offering was completed pursuant to an underwriting agreement, dated April 22, 2026, entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance LP and including Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., Roth Canada, Inc., ATB Cormark Capital Markets, Beacon Securities Limited, CIBC Capital Markets, Desjardins Capital Markets and Stifel Canada (collectively, the “Underwriters”).

Both EdgePoint Investment Group Inc. and Mr. Eric Sprott participated in the Offering with co-lead orders. Mr. Sprott has maintained his approximate 19% shareholdings.

In connection with the closing of the Offering, the Company paid to the Underwriters a cash fee in the aggregate amount of $5,160,441, representing (i) 5.25% of the gross proceeds of the Offering, other than the gross proceeds raised from certain sales pursuant to a president’s list (the “President’s List Sales”); and (ii) 1.0% of the gross proceeds raised from President’s List Sales. BMO Capital Markets, SCP Resource Finance LP, Canaccord Genuity Corp., National Bank Financial Inc., Paradigm Capital Inc., Roth Canada, Inc., ATB Cormark Capital Markets, Beacon Securities Limited, CIBC Capital Markets, Desjardins Capital Markets and Stifel Canada each received $1,967,418, $1,722,297, $245,121, $245,121, $245,121, $245,121, $98,048, $98,048, $98,048, $98,048 and $98,048, respectively.

The net proceeds from the Offering will be used by the Company to advance its 100% owned Queensway Gold Project (“Queensway”) and for general corporate and working capital purposes.

The Common Shares were offered in all of the provinces and territories of Canada, excluding Quebec and Nunavut, by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 23, 2025 (the “Base Shelf Prospectus”). The Common Shares were also offered by way of a U.S. prospectus supplement to the Company's base shelf prospectus (the "U.S. Prospectus") forming part of the Company’s registration statement on Form F-10 in the United States. Copies of the Prospectus Supplement, Base Shelf Prospectus, U.S. Prospectus and documents incorporated by reference therein are available electronically on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov under New Found Gold’s issuer profile, as applicable.

The Offering remains subject to the final approval of the TSX Venture Exchange (the “TSXV”).

Certain directors and officers of the Company participated, directly or indirectly, in the Offering, along with the Company’s cornerstone investor, Mr. Eric Sprott, who is considered a “related party” of New Found Gold due to his shareholdings (collectively, the “Insiders”). The Insiders’ participation in the Offering constitutes “a related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company has relied on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such related party participation.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

About New Found Gold

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and the Hammerdown Gold Project, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.

In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.

Throughout 2025, New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.

Contact

For further information on New Found Gold contact us through our investor inquiry form on our website or contact:

Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 775-2700
Email: contact@newfoundgold.ca

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

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

https://mailchi.mp/newfoundgold/new-found-gold-closes-bought-deal-financing-including-full-exercise-of-underwriters-over-allotment-option-for-gross-proceeds-of-115m?e=2f3758c945

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04/22/2026 New Found Gold Continues to Expand Dropkick Zone, Queensway Gold Project

https://newfoundgold.ca/new-found-gold-continues-to-expand-dropkick-zone-13522/

Great news. Thanks

New Found Gold Announces $205M Finance Package:
$100M bought deal financing with lead orders from EdgePoint
and cornerstone investor Eric Sprott
$105M Senior Secured Credit Facility with EdgePoint

The Base Shelf Prospectus is accessible, and the Prospectus Supplement will
be accessible, within two business
days, through SEDAR+

All amounts in Canadian dollars unless otherwise noted

(TSX-V: NFG | NYSE-A: NFGC)
VANCOUVER, British Columbia – April 20, 2026 – New Found Gold Corp. (“New Found Gold” or the “Company”) (TSXV: NFG | NYSE American: NFGC) is pleased to announce a finance package consisting of (i) a $100M bought deal equity financing with lead orders from EdgePoint Investment Group Inc. (“EdgePoint”) and cornerstone investor Eric Sprott and (ii) a $105M senior secured credit facility with EdgePoint, for total gross proceeds of $205M.

“We are pleased to announce this comprehensive finance package, consisting of an at-market equity bought deal financing and a senior secured credit facility at superior terms to those previously contemplated. With today’s announcement, we have secured funding for the initial capital expenditures required to bring our flagship Queensway Gold Project-Phase I into production, in line with our development schedule. The participation of EdgePoint as the underwriter of the credit facility, as well as co-lead on the equity component of this finance package, is a testament to the quality of the Queensway asset and the Company’s ability to deliver on its mandate of getting to cash flow. We thank our long-time cornerstone investor Eric Sprott and our newest shareholder, EdgePoint, along with existing and other new shareholders, for their participation in the equity portion of this finance package.” commented Keith Boyle, CEO of New Found Gold.

“We are excited to partner with the New Found Gold team in the development of Queensway. This opportunity aligns with our strategy of investing in assets that demonstrate compelling economics in attractive mining jurisdictions” CIO of EdgePoint, Frank Mullen, commented. “Queensway is uniquely positioned for near-term cash flow via a rapid path to production with excellent exploration upside potential which should translate into attractive project economics.”

The Company will not be proceeding with the secured loan facility and warrants issuance contemplated in the non-binding term sheet with Nebari Natural Resources Credit Fund II, LP (see the New Found Gold press release dated March 5, 2026).

Bought Deal Financing

The Company has entered into an agreement with BMO Capital Markets and SCP Resource Finance LP, on behalf of themselves and a syndicate of underwriters, (collectively, the “Underwriters”) co-led by BMO Capital Markets and SCP Resource Finance LP, under which the Underwriters have agreed to buy, on a “bought deal” basis, 33,800,000 common shares of the Company (the “Common Shares”) at a price of $2.96 per Common Share (the “Offering Price”) for aggregate gross proceeds of approximately $100 million (the “Offering”). The Company has granted the Underwriters an over-allotment option, exercisable at the Offering Price up to 30 days following the closing of the Offering, to purchase up to an additional 15% of the Common Shares issued in connection with the Offering, to cover over-allotments, if any.

The net proceeds from the Offering will be used by the Company to advance its 100% owned Queensway Gold Project (“Queensway”) and for general corporate and working capital purposes.

The Common Shares will be offered in all of the provinces and territories of Canada, excluding Quebec and Nunavut, by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated May 23, 2025 (the “Base Shelf Prospectus”). The Common Shares will also be offered by way of a U.S. prospectus supplement to the Company's base shelf prospectus (collectively, the "U.S. Prospectus") forming part of the Company’s registration statement on Form F-10 in the United States. The Offering is expected to close on or about April 27, 2026.

The closing of the Offering is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “TSXV”) and authorization of the NYSE American LLC (the “NYSE American”).

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendments thereto are provided in Canada in accordance with securities legislation relating to the procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to such documents. The Base Shelf Prospectus is, and the Prospectus Supplement will be within two business days from the date hereof, accessible through SEDAR+ at www.sedarplus.ca.

An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus and the U.S. Prospectus, and any amendment to these documents, may be obtained, without charge, from BMO Nesbitt Burns Inc., Brampton Distribution Centre C/O The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at 905-791-3151 Ext 4312 or by email at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 151 W 42nd Street, 32nd Floor, New York, NY 10036, or by telephone at (800) 414-3627 or by email at bmoprospectus@bmo.com by providing BMO Capital Markets with an email address or mailing address, as applicable.

The Company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (800) 414-3627. Copies of the Base Shelf Prospectus and Prospectus Supplement, when available, can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca, and a copy of the registration statement and U.S. Prospectus can be found on EDGAR at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Credit Facility

The Company has entered into a credit agreement with EdgePoint providing for a senior secured credit facility of up to $105,000,000 (“the Credit Facility”).

Pursuant to the Credit Facility, the funds will be advanced in two tranches: $70,000,000 (“Tranche 1”) to be funded upon delivery of the security package and the satisfaction of certain other conditions precedent and an additional $35,000,000 (“Tranche 2”) to be funded no later than 12 months after closing at the discretion of the Company. Both tranches will be subject to an establishment fee of 1% payable upon the advance of funds. Loans under the Credit Facility will bear interest at a fixed annual rate of 8.75% payable quarterly in arrears and will have a term of 3 years. The funds to be advanced reflect principal amounts subject to an original issue discount of 2.00%.

In connection with the Credit Facility and subject to the approval of the TSXV and the authorization of the NYSE American, the Company will issue to EdgePoint non-transferable warrants for the purchase of Common Shares. Each warrant entitles the holder to purchase one Common Share. The warrants to be issued on the funding of Tranche 1 will have an aggregate value of US$6,000,000 and be exercisable for an aggregate of 2,489,818 Common Shares at an exercise price of $3.30 per Common Share. The warrants to be issued on the funding of Tranche 2 will have an aggregate value of US$3,000,000 and be exercisable for Common Shares at an exercise price equal to a 25% premium to the closing price of the Common Shares on the TSXV immediately preceding the date of funding under Tranche 2. The warrants will be exercisable for a period of 3 years subject to customary adjustment provisions.

All direct and indirect subsidiaries of the Company will guarantee the Credit Facility. The Company and such guarantors will secure the Credit Facility with first-lien security interests over all of their present and after-acquired real and personal property.

The proceeds of the Credit Facility will be used for general corporate and working capital purposes of the Company and its subsidiaries, including financing for the development of the Queensway Gold Project and the ramp up of the Hammerdown Gold Project.

Advisors

Cutfield Freeman & Co. Ltd. (“CF&Co“), an independent global mining finance advisory firm, is acting as financial advisors to the Company in relation to the Credit Facility and its overall project finance strategy (see the New Found Gold press release dated November 28, 2025). Blake, Cassels & Graydon LLP is acting as legal counsel to the Company. Miller Thomson LLP is acting as legal counsel to EdgePoint.

About EdgePoint

EdgePoint is an employee owned and investment led Canadian wealth management company, based in Toronto, Ontario.

About New Found Gold

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and the Hammerdown Gold Project, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.

In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.

Throughout 2025, New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.

Contact

For further information on New Found Gold contact us through our investor inquiry form on our website or contact:

Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 775-2700
Email: contact@newfoundgold.ca

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

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

Forward-Looking Information

This press release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including statements regarding the Offering, including the closing of the Offering and the timing thereof, the proceeds of the Offering and the use of such proceeds, and the approval by the TSXV and authorization of the NYSE American of the Offering; the filing of the Prospectus Supplement and the U.S. Prospectus; funding of initial capital expenditures required to develop our flagship Queensway Gold Project; funds being advanced pursuant to Tranche 1 and Tranche 2 under the Credit Facility; issuance of warrants in Tranche 1 and Tranche 2 under the Credit Facility; approval by the TSXV and authorization of the NYSE American of the warrants; the use of proceeds of the Credit Facility; and Company’s focus on advancing Queensway to production and bringing the Hammerdown deposit into commercial gold production; and the Company’s focus on growth and value creation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”, “often”, “target”, “future”, “likely”, “pending”, “potential”, “encouraging”, “goal”, “objective”, “prospective”, “possibly”, “preliminary”, and similar expressions, or that events or conditions “will”, “would”, “may”, “can”, “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company’s ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca and on the website of the United States Securities and Exchange Commission at www.sec.govfor a more complete discussion of such risk factors and their potential effects

https://mailchi.mp/newfoundgold/new-found-gold-announces-205m-finance-package?e=2f3758c945

Weekly Chart
https://schrts.co/iBwsVECz

I am curious about how Hammerdown is doing. We should hear something soon IMHO.

https://finance.yahoo.com/markets/stocks/articles/independent-director-found-gold-picks-105709588.html

Nice move up today.

New Found Gold Files 2025 Year End Disclosure DocumentsMarch 25, 2026 8:22 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") announces that it has filed its annual financial statements for the year ended December 31, 2025, the related Management's Discussion and Analysis, and its Annual Information Form for the year ended December 31, 2025 (together, the "2025 Annual Documents"), with Canadian securities regulators and the annual report on Form 40-F (the "Form 40-F"), which includes the 2025 Annual Documents as appendices, with the U.S. Securities and Exchange Commission (the "SEC"). The 2025 Annual Documents are available under the Company's profile on SEDAR+ at www.sedarplus.ca and the Form 40-F is available under the EDGAR system of the SEC (www.sec.gov). New Found Gold's financial disclosure documents are also available on the Company's website at www.newfoundgold.ca.Shareholders may receive a hard copy of the financial disclosure documents free of charge upon request through the Company's investor inquiry form on the Company's website at www.newfoundgold.ca.About New Found Gold Corp.New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Gold Project ("Queensway") and Hammerdown Gold Project, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.Throughout 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp. Contact For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/ or contact: Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 775-2700
Email: contact@newfoundgold.ca Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.Qualified PersonThe scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements regarding the Company's focus on advancing Queensway to production and bringing the Hammerdown deposit into commercial gold production; statements regarding recent drilling results and the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on grow and value creation. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange and NYSE American, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca and on the website of the United States Securities and Exchange Commission at www.sec.gov for a more complete discussion of such risk factors and their potential effects.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289955
Original: New Found Gold Files 2025 Year End Disclosure Documents

So many bargains right now.Wish I had more cash.

New Found Gold Files Hammerdown Gold Project NI 43-101 Technical ReportMarch 17, 2026 6:19 AM
NewsfileVancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce that, further to its press release dated February 26, 2026, the Company has filed a technical report for its 100% owned Hammerdown Gold Project ("Hammerdown"), titled: "New Found Gold Corp. Hammerdown Gold Project Preliminary Economic Assessment, Newfoundland and Labrador, Canada", with an effective date of February 18, 2026 (the "Technical Report"). The Technical Report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). A copy of the Technical Report is available under the Company's SEDAR+ profile at www.sedarplus.ca and on the EDGAR system of the SEC at www.sec.gov.The Technical Report was prepared by WSP Canada Inc. and authored by: Stephen Coates, P.Eng., Christian Beaulieu, P.Geo., Michael Levy, P.Eng., Chafana Hamed Sako, P.Geo., James Guiraud, P.Geo., Stacy J. Freudigmann, P.Eng., Sheldon H. Smith, P.Geo., J. Alex Mcintyre, P.Eng., Neil J. Lincoln, P.Eng., Dachun (David) Jin, P.Eng. and William Richard McBride, P.Eng., each a "Qualified Person" as defined under NI 43-101 and independent of New Found Gold.About New Found Gold Corp.New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Gold Project ("Queensway") and Hammerdown, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.Throughout 2025, New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp. Contact For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact: Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.Qualified PersonThe scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements including statements regarding advancing Queensway to production and bringing Hammerdown deposit into commercial gold production; statements regarding recent drilling results and district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on growth and value creation. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288726
Original: New Found Gold Files Hammerdown Gold Project NI 43-101 Technical Report

New Found Gold Announces US$75 Million Term Sheet to Advance Queensway Development
https://newfoundgold.ca/new-found-gold-announces-us75-million-term-sheet-13432/

added some more today.

NFGC is looking good. I think I will accumulate a few more tomorrow.

New Found Gold Grade Control Drilling Continues to Deliver At-Surface High Grade Gold over Broad Widths at Queensway:March 1, 2026 9:00 AM
Newsfile71.8 g/t Au over 31.95 m and 76.6 g/t Au over 16.00 m at Iceberg 51.3 g/t Au over 3.40 m and 11.8 g/t Au over 9.95 m at KeatsVancouver, British Columbia--(Newsfile Corp. - March 1, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce the final results of the Company's 2025 grade control drill program on its 100%-owned Queensway Gold Project ("Queensway" or the "Project") in Newfoundland and Labrador, Canada, including results from the Keats zone ("Keats") and Iceberg zone ("Iceberg") excavations in the AFZ Core ("AFZC"), completed as part of the Company's 2025 drill program.Iceberg excavation highlights include:71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)[1]76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082) Keats excavation highlights include:51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071) Melissa Render, President of New Found Gold stated: "These final results from our highly successful 2025 grade control drill program at the Keats and Iceberg excavations continue to deliver consistently high gold grades over broad widths, returning some of the best intercepts we have drilled to date at Queensway. We continue to systematically de-risk Queensway, as demonstrated by the continuity of high-grade gold mineralization in these at-surface zones targeted for early open pit mining in our 2025 PEA Phase 1 mine plan."Work SummaryThe results presented in this release include the final 907 m of drilling in 32 diamond drill holes ("DDH") from the Keats excavation ("KEGCDP") and the entirety of the 2,390 m of drilling in 40 DDH from the Iceberg excavation ("IEGCDP") 2025 grade control drill program (Figures 1 to 4). The KEGCDP and IEGCDP were designed to improve confidence in the distribution of high-grade, near- to at-surface gold mineralization and support mine planning as outlined in the 2025 Preliminary Economic Assessment ("PEA") Phase 1 open pits (see the New Found Gold press release dated July 21 2025). Drill highlights, along with detailed results for these 72 DDH, are provided in Tables 1 to 3 below.The full KEGCDP comprises 2,773 m in 84 DDH; for the previously reported KEGCDP results see the New Found Gold press releases dated December 1, 2025 and February 2, 2026 and highlights below. The full IEGCDP comprises 2,390 m of drilling in 40 DDH and all results are reported in this press release.The KEGCDP tested a volume that is approximately 65 m long by 30 m deep by 40 m wide and the IEGCDP a volume that is approximately 60 m long by 35 m deep by 40 m wide with a drill spacing of 5 m by 5 m and includes the near- to at-surface high-grade portions of Keats and Iceberg that were exposed as part of the Company's excavation programs (see the New Found Gold press releases dated September 23, 2024, December 2, 2024, September 25, 2025, December 1, 2025 and February 2, 2026). Results released to date correlate well with the initial mineral resource estimate ("MRE") block model and indicate strong continuity of -high grade mineralized shoots at both Keats and Iceberg, providing improved definition of their geometry, with most intervals occurring at or within a few meters of surface. The detailed geostatistical data from this phase of work will further validate the resource models, specifically by increasing confidence in grade-capping and influence-limiting parameters applied to high-grade intersections in advance of a MRE update and subsequent mine planning.The Keats and Iceberg zones are hosted within the Keats-Baseline Fault Zone ("KBFZ"), a high-grade gold-bearing structure that has been defined over a current strike length of 1.9 kilometres ("km"). This corridor consists of a broad mineralized fault zone with limited deep drill testing to date. Drilling completed in 2024 confirms that the system extends to vertical depths of up to 1.1 km (see the New Found Gold press releases dated July 11, 2024, October 31, 2024, and April 29, 2025).

Figure 1: Plan view map of the AFZC with location of Keats and Iceberg excavation grade control drill programs.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_001full.jpgIceberg excavation grade control drill program (this press release):71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)22.6 g/t Au over 17.55 m from 50.45 m (NFGC-25-GC-050)30.4 g/t Au over 12.90 m from 8.00 m (NFGC-25-GC-112)11.9 g/t Au over 27.55 m from 27.65 m (NFGC-25-GC-097)27.3 g/t Au over 11.70 m from 48.90 m (NFGC-25-GC-084)27.8 g/t Au over 11.45 m from 38.85 m (NFGC-25-GC-067)120 g/t Au over 2.60 m from 17.15 m (NFGC-25-GC-109)11.6 g/t Au over 26.15 m from 31.30 m (NFGC-25-GC-058)30.9 g/t Au over 9.00 m from 32.30 m (NFGC-25-GC-064)28.1 g/t Au over 9.15 m from 45.15 m (NFGC-25-GC-048)18.4 g/t Au over 12.85 m from 38.45 m (NFGC-25-GC-076)26.7 g/t Au over 8.05 m from 16.45 m (NFGC-25-GC-119)7.56 g/t Au over 23.85 m from 48.15 m (NFGC-25-GC-052)6.77 g/t Au over 20.05 m from 54.70 m (NFGC-25-GC-046)12.0 g/t Au over 11.05 m from 33.30 m (NFGC-25-GC-059)8.55 g/t Au over 15.40 m from 25.40 m (NFGC-25-GC-109)12.8 g/t Au over 10.10 m from 28.80 m (NFGC-25-GC-113)13.0 g/t Au over 9.90 m from 13.45 m (NFGC-25-GC-122)8.26 g/t Au over 12.55 m from 63.00 m (NFGC-25-GC-087)11.1 g/t Au over 9.05 m from 14.40 m (NFGC-25-GC-123)16.9 g/t Au over 4.15 m from 29.60 m (NFGC-25-GC-121)5.17 g/t Au over 12.40 m from 17.00 m (NFGC-25-GC-124)6.70 g/t Au over 9.20 m from 42.80 m (NFGC-25-GC-087)8.38 g/t Au over 6.85 m from 15.35 m (NFGC-25-GC-074)15.5 g/t Au over 3.65 m from 71.95 m (NFGC-25-GC-043)3.88 g/t Au over 13.10 m from 31.15 m (NFGC-25-GC-074)17.5 g/t Au over 2.80 m from 40.95 m (NFGC-25-GC-084)20.1 g/t Au over 2.35 m from 69.80 m (NFGC-25-GC-085)18.0 g/t Au over 2.30 m from 41.80 m (NFGC-25-GC-085)15.0 g/t Au over 2.70 m from 23.75 m (NFGC-25-GC-058)19.7 g/t Au over 2.05 m from 4.35 m (NFGC-25-GC-122)13.3 g/t Au over 2.85 m from 69.15 m (NFGC-25-GC-048)14.3 g/t Au over 2.60 m from 12.60 m (NFGC-25-GC-107)11.9 g/t Au over 2.80 m from 65.20 m (NFGC-25-GC-079)2.21 g/t Au over 11.55 m from 14.10 m (NFGC-25-GC-079)11.7 g/t Au over 2.20 m from 57.35 m (NFGC-25-GC-079)Keats excavation grade control drill program (this press release):51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)4.22 g/t Au over 10.35 m from 5.65 m (NFGC-25-GC-066)2.56 g/t Au over 15.95 m from 0.00 m (NFGC-25-GC-100)14.5 g/t Au over 2.45 m from 10.00 m (NFGC-25-GC-096)1.41 g/t Au over 20.25 m from 20.45 m (NFGC-25-GC-102)1.73 g/t Au over 15.45 m from 4.20 m (NFGC-25-GC-062)2.37 g/t Au over 10.60 m from 23.70 m (NFGC-25-GC-111)

Figure 2: Keats and Iceberg excavations with grade control drill hole highlights.

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https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_002full.jpg

Figure 3: Keats longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

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https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_003full.jpgKeats excavation grade control drill program highlights (February 2, 2026 press release):508 g/t Au over 2.20 m from 16.80 m (NFGC-25-GC-024)113 g/t Au over 3.75 m from 11.90 m (NFGC-25-GC-025)9.29 g/t Au over 37.60 m from 12.00 m (NFGC-25-GC-027)27.0 g/t Au over 10.00 m from 0.00 m (NFGC-25-GC-033)31.5 g/t Au over 6.10 m from 0.60 m (NFGC-25-GC-021)17.2 g/t Au over 9.05 m from 2.70 m (NFGC-25-GC-042)24.5 g/t Au over 6.35 m from 24.65 m (NFGC-25-GC-031)7.33 g/t Au over 19.80 m from 4.70 m (NFGC-25-GC-026)3.75 g/t Au over 21.40 m from 0.10 m (NFGC-25-GC-035)10.6 g/t Au over 6.60 m from 0.10 m (NFGC-25-GC-022)9.94 g/t Au over 6.95 m from 0.70 m (NFGC-25-GC-030)4.87 g/t Au over 10.55 m from 22.45 m (NFGC-25-GC-039)3.37 g/t Au over 12.20 m from 0.55 m (NFGC-25-GC-017)2.27 g/t Au over 16.35 m from 21.85 m (NFGC-25-GC-057)1.45 g/t Au over 23.55 m from 8.05 m (NFGC-25-GC-032)2.12 g/t Au over 13.75 m from 7.20 m (NFGC-25-GC-028)1.52 g/t Au over 14.05 m from 3.50 m (NFGC-25-GC-045)1.64 g/t Au over 12.65 m from 33.25 m (NFGC-25-GC-029)1.78 g/t Au over 11.30 m from 4.70 m (NFGC-25-GC-034)1.55 g/t Au over 12.50 m from 0.00 m (NFGC-25-GC-024)Keats excavation grade control program highlights (December 1, 2025 press release):219 g/t Au over 9.35 m from 19.00 m (NFGC-25-GC-005)160 g/t Au over 10.30 m from 5.10 m (NFGC-25-GC-009)105 g/t Au over 10.20 m from 15.80 m (NFGC-25-GC-007)24.7 g/t Au over 26.25 m from 34.25 m (NFGC-25-GC-007)35.3 g/t Au over 12.85 m from 36.25 m (NFGC-25-GC-006)27.1 g/t Au over 12.85 m from 14.65 m (NFGC-25-GC-012)142 g/t Au over 2.25 m from 4.15 m (NFGC-25-GC-004)50.8 g/t Au over 4.10 m from 0.00 m (NFGC-25-GC-003)17.1 g/t Au over 11.85 m from 21.45 m (NFGC-25-GC-009)9.61 g/t Au over 18.05 m from 25.25 m (NFGC-25-GC-003)9.29 g/t Au over 15.40 m from 1.10 m (NFGC-25-GC-008)38.3 g/t Au over 3.40 m from 4.10 m (NFGC-25-GC-011)

Figure 4: Iceberg longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

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https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_004full.jpgLooking AheadThe 2025 Queensway drill program included 74,377 m of drilling in 614 DDH, with approximately 75% of the drilling focused on the AFZC to support advancement of the Phase 1 mine plan as outlined in the PEA and 25% focused on exploration targets such as the Dropkick zone ("Dropkick"). To date, approximately 45% of the results from 2025 drilling remain outstanding, in addition to channel sampling results from the Lotto excavation. These results will be reported once available.The 2026 Queensway drill program is underway, with four drill rigs currently active (see the New Found Gold press release dated January 21, 2026). Initial 2026 infill drilling is planned to first target PEA Phase 2 open pit resource conversion, transitioning later in the year to PEA Phase 3 underground resource conversion. The Company plans to expand its grade control drilling beginning in Q2/26. The next phase of work will leverage results from the 2025 program to optimize drill hole spacing and program scope. This will include completing grade-control drilling at the Iceberg excavation, commencing grade-control drilling at the Lotto excavation and potentially expanding the grade-control drilling at the Keats and Iceberg excavations. The objective of this work is to improve confidence in the distribution of gold mineralization and support mine planning as outlined for the PEA Phase 1 open pits. Exploration drilling will focus on AFZC resource expansion including an initial grid-based program targeting the prospective corridor adjacent to the AFZ at Bullseye, continued step-outs at Dropkick, located 11 km north of the AFZC, and targeted segments of the AFZ at AFZ Peripheral. A regional drilling program testing advanced targets at Queensway South is in the planning phase and expected to commence in H2/26.The Company plans to file an updated Technical Report for Queensway, which will include an updated mineral resource estimate, in Q3/26Table 1: Drill Result Highlights.KEATS MAIN EXCAVATIONHole No.From (m)To (m)Interval (m)Au (g/t)True Width (%)ZoneNFGC-25-GC-0624.2019.6515.451.7370-95Keats ExcavationNFGC-25-GC-0639.7521.0511.309.7370-95Keats ExcavationIncluding14.5015.501.0092.2770-95NFGC-25-GC-06513.2023.159.9511.8155-85Keats ExcavationIncluding13.2014.100.90111.6455-85NFGC-25-GC-0665.6516.0010.354.2270-95Keats ExcavationIncluding5.656.200.5523.7570-95Including10.1011.101.0024.7870-95NFGC-25-GC-06823.9526.202.2540.3470-95Keats ExcavationIncluding24.4024.800.40167.6870-95Including25.2025.500.3070.4970-95NFGC-25-GC-0711.004.903.9016.9135-65Keats ExcavationIncluding1.853.401.5538.1935-65NFGC-25-GC-09610.0012.452.4514.4565-95Keats ExcavationIncluding11.4011.750.3591.4065-95NFGC-25-GC-1000.0015.9515.952.5670-95Keats ExcavationIncluding9.409.850.4520.8670-95NFGC-25-GC-10220.4540.7020.251.4130-60Keats ExcavationIncluding29.6530.300.6514.9830-60NFGC-25-GC-11123.7034.3010.602.3765-95Keats ExcavationIncluding29.4030.150.7511.2765-95NFGC-25-GC-1154.9010.755.8515.8560-90Keats ExcavationIncluding4.905.350.45199.1660-90And54.6058.003.4051.3070-95Including54.6055.200.6031.1870-95Including55.5556.100.55278.0770-95 ICEBERG EXCAVATIONHole No.From (m)To (m)Interval (m)*Au (g/t)True Width (%)ZoneNFGC-25-GC-04371.9575.603.6515.5125-55Iceberg ExcavationIncluding73.8575.601.7528.8125-55NFGC-25-GC-04654.7074.7520.056.7740-70Iceberg ExcavationIncluding72.5073.300.8087.0640-70Including74.0074.750.7544.6940-70NFGC-25-GC-04845.1554.309.1528.0770-95Iceberg ExcavationIncluding50.7053.202.5097.7270-95And69.1572.002.8513.3170-95Including69.1570.000.8511.3770-95Including71.0072.001.0020.3770-95NFGC-25-GC-05050.4568.0017.5522.6355-85Iceberg ExcavationIncluding51.2053.101.9065.5155-85Including53.6054.400.8027.5055-85Including56.8057.200.40162.3355-85Including57.8058.700.9036.9955-85Including63.9066.402.5031.7970-95Including66.8068.001.2045.1170-95NFGC-25-GC-05248.1572.0023.857.5670-95Iceberg ExcavationIncluding48.6049.200.6012.2670-95Including61.1563.702.5517.0070-95Including64.4065.200.8074.2170-95Including68.0569.801.7512.9470-95Including71.5072.000.5038.4470-95NFGC-25-GC-05551.4567.4516.0076.5870-95Iceberg ExcavationIncluding51.4552.851.4012.5470-95Including55.4055.700.3063.7770-95Including61.3061.900.6049.8470-95Including63.5067.453.95288.4870-95And Including63.5064.250.75656.5970-95NFGC-25-GC-05823.7526.452.7014.9970-95Iceberg ExcavationIncluding24.4025.350.9543.1170-95And31.3057.4526.1511.6270-95Including37.7538.650.9016.3870-95Including40.3542.301.9553.5570-95Including43.1544.651.5028.6470-95Including49.8051.001.2028.6770-95Including55.8556.650.8086.4470-95NFGC-25-GC-05933.3044.3511.0511.9770-95Iceberg ExcavationIncluding35.0035.450.4512.5270-95Including35.9537.451.5029.6070-95Including38.9039.550.6568.8570-95Including42.6543.100.4554.1650-80NFGC-25-GC-06134.9556.1521.2035.4170-95Iceberg ExcavationIncluding37.8038.250.4565.6270-95Including42.7044.001.3077.0870-95Including45.1046.151.0567.2470-95Including48.9549.750.8076.2370-95Including50.6551.350.70107.8560-90Including52.3555.603.25118.4560-90NFGC-25-GC-06432.3041.309.0030.8570-95Iceberg ExcavationIncluding32.3032.750.4561.9670-95Including33.3034.100.80223.2270-95Including38.9040.451.5530.6270-95NFGC-25-GC-06738.8550.3011.4527.8470-95Iceberg ExcavationIncluding39.8540.800.9516.1770-95Including41.6042.851.2538.2570-95Including45.2046.551.35125.7270-95Including49.7050.300.60119.0770-95NFGC-25-GC-06937.8069.7531.9571.8170-95Iceberg ExcavationIncluding39.1042.653.5580.5570-95Including47.9548.900.9528.9770-95Including51.3553.452.10154.0370-95And Including51.3551.900.55512.6470-95Including56.8057.400.6050.4570-95Including59.4560.200.7590.5370-95Including63.1569.756.60230.1770-95And Including66.2067.801.60595.5870-95NFGC-25-GC-07213.4034.9521.5544.4470-95Iceberg ExcavationIncluding13.4014.100.7075.0765-95Including22.6023.100.50116.6270-95Including24.2025.851.6522.2770-95Including27.7028.500.8014.0070-95Including29.3531.402.05215.3270-95Including32.3532.900.55632.8755-85NFGC-25-GC-07415.3522.206.858.3870-95Iceberg ExcavationIncluding15.3516.000.6516.0670-95Including16.7017.901.2030.2670-95And31.1544.2513.103.8870-95Including35.6037.101.5022.2470-95NFGC-25-GC-07638.4551.3012.8518.4370-95Iceberg ExcavationIncluding39.3039.750.4510.2370-95Including48.4048.850.4581.0040-70Including50.5051.300.80199.1940-70NFGC-25-GC-07914.1025.6511.552.2170-95Iceberg ExcavationIncluding25.3525.650.3061.5470-95And40.4051.8011.4041.1270-95Including40.4040.700.3010.7670-95Including41.3542.351.0037.2570-95Including43.0043.700.7014.3670-95Including47.9048.400.50629.4470-95Including48.7050.301.6055.7150-80And57.3559.552.2011.7450-80Including57.9059.551.6515.5650-80And65.2068.002.8011.8725-55Including65.2066.801.6018.6425-55NFGC-25-GC-08216.8036.6519.8543.1865-95Iceberg ExcavationIncluding17.5019.401.90221.8165-95Including24.6525.000.3514.1070-95Including31.0034.003.00122.5370-95Including34.5535.200.6535.3370-95NFGC-25-GC-08440.9543.752.8017.5170-95Iceberg ExcavationIncluding41.4043.001.6027.2470-95And48.9060.6011.7027.3170-95Including48.9051.652.7577.1870-95Including57.9060.602.7038.2960-90NFGC-25-GC-08541.8044.102.3017.9965-95Iceberg ExcavationIncluding42.5542.900.35114.2865-95And69.8072.152.3520.0570-95Including70.8071.500.7065.1370-95NFGC-25-GC-08742.8052.009.206.7070-95Iceberg ExcavationIncluding50.9051.250.35138.4570-95And63.0075.5512.558.2670-95Including63.8065.201.4019.7870-95Including66.0567.751.7036.8670-95NFGC-25-GC-09727.6555.2027.5511.8870-95Iceberg ExcavationIncluding31.3533.902.5527.9170-95Including34.4535.951.5036.0470-95Including43.4043.800.4020.0970-95Including54.7555.200.45321.5970-95NFGC-25-GC-10140.0053.9013.901.5370-95Iceberg ExcavationIncluding41.1541.550.4012.1670-95NFGC-25-GC-1063.6022.2518.6531.6170-95Iceberg ExcavationIncluding3.604.550.95239.2860-90Including10.2510.900.6515.8370-95Including14.3015.050.7544.8270-95Including17.6022.254.6565.5970-95NFGC-25-GC-10712.6015.202.6014.3070-95Iceberg ExcavationIncluding12.6014.351.7517.8170-95And21.7530.058.3055.4370-95Including21.7522.600.8553.6570-95Including23.6024.150.55141.0970-95Including24.4524.900.45750.7670-95NFGC-25-GC-10917.1519.752.60120.1370-95Iceberg ExcavationIncluding17.8018.951.15304.8670-95And25.4040.8015.408.5570-95Including25.4025.750.3522.7770-95Including27.4528.000.5513.7570-95Including31.3532.300.9588.6670-95NFGC-25-GC-1128.0020.9012.9030.4365-95Iceberg ExcavationIncluding8.0010.552.5518.9070-95Including15.6016.100.5027.2065-95Including16.4017.901.50118.7565-95Including19.4020.501.10133.3565-95NFGC-25-GC-11328.8038.9010.1012.8270-95Iceberg ExcavationIncluding28.8029.300.5018.4870-95Including30.2531.301.0525.0970-95Including31.8032.700.9083.1770-95NFGC-25-GC-11840.3553.0512.7040.5640-70Iceberg ExcavationIncluding50.3553.052.70186.5440-70And Including52.5553.050.50807.2340-70NFGC-25-GC-11916.4524.508.0526.7170-95Iceberg ExcavationIncluding17.9019.902.0097.2270-95Including20.9021.800.9012.1570-95NFGC-25-GC-12129.6033.754.1516.9270-95Iceberg ExcavationIncluding32.3533.250.9074.8270-95NFGC-25-GC-1224.356.402.0519.7270-95Iceberg ExcavationIncluding4.706.401.7023.6470-95And13.4523.359.9012.9860-90Including14.4017.202.8034.5760-90Including18.0018.500.5032.3860-90NFGC-25-GC-12314.4023.459.0511.0670-95Iceberg ExcavationIncluding17.6019.201.6052.5170-95NFGC-25-GC-12417.0029.4012.405.1770-95Iceberg ExcavationIncluding18.8020.301.5030.3270-95 Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. Details of all drill holes reported in this press release are included in Table 2 and Table 3 below.Table 2: Summary of composite drill hole results reported in this press release for Keats and Iceberg.KEATS MAIN EXCAVATIONHole No.From (m)To (m)Interval (m)Au (g/t)True Width (%)ZoneNFGC-25-GC-0562.656.153.504.4170-95Keats ExcavationIncluding2.653.300.6517.6470-95NFGC-25-GC-060No Significant ValuesKeats ExcavationNFGC-25-GC-0624.2019.6515.451.7370-95Keats ExcavationNFGC-25-GC-0639.7521.0511.309.7370-95Keats ExcavationIncluding14.5015.501.0092.2770-95NFGC-25-GC-06513.2023.159.9511.8155-85Keats ExcavationIncluding13.2014.100.90111.6455-85NFGC-25-GC-0665.6516.0010.354.2270-95Keats ExcavationIncluding5.656.200.5523.7570-95Including10.1011.101.0024.7870-95NFGC-25-GC-06823.9526.202.2540.3470-95Keats ExcavationIncluding24.4024.800.40167.6870-95Including25.2025.500.3070.4970-95NFGC-25-GC-070No Significant ValuesKeats ExcavationNFGC-25-GC-0711.004.903.9016.9135-65Keats ExcavationIncluding1.853.401.5538.1935-65And10.6513.552.901.4235-65NFGC-25-GC-0731.707.055.353.4765-95Keats ExcavationIncluding4.855.300.4529.0365-95NFGC-25-GC-0750.253.002.752.3170-95Keats ExcavationNFGC-25-GC-0787.9514.156.203.8270-95Keats ExcavationIncluding9.8510.450.6011.6670-95NFGC-25-GC-0800.002.252.251.6570-95Keats ExcavationAnd7.109.402.301.6970-95And17.6023.055.453.7270-95NFGC-25-GC-0811.904.652.758.3745-75Keats ExcavationIncluding2.903.901.0019.7045-75And14.4519.855.403.8670-95Including19.4019.850.4513.5770-95NFGC-25-GC-08348.7051.302.601.0470-95Keats ExcavationNFGC-25-GC-08615.6019.003.401.0115-45Keats ExcavationAnd26.1534.858.701.2870-95NFGC-25-GC-088No Significant ValuesKeats ExcavationNFGC-25-GC-089No Significant ValuesKeats ExcavationNFGC-25-GC-091No Significant ValuesKeats ExcavationNFGC-25-GC-0920.002.202.201.9765-95Keats ExcavationNFGC-25-GC-09411.9015.303.402.7365-95Keats ExcavationIncluding12.9013.350.4512.8865-95NFGC-25-GC-09531.2034.002.801.5470-95Keats ExcavationAnd37.0039.152.154.8770-95Including38.1538.600.4518.7870-95NFGC-25-GC-09610.0012.452.4514.4565-95Keats ExcavationIncluding11.4011.750.3591.4065-95NFGC-25-GC-09818.4028.009.602.3560-90Keats ExcavationIncluding26.4027.100.7012.9760-90And32.6041.108.502.0260-90Including33.6034.000.4011.2860-90NFGC-25-GC-1000.0015.9515.952.5670-95Keats ExcavationIncluding9.409.850.4520.8670-95NFGC-25-GC-10220.4540.7020.251.4130-60Keats ExcavationIncluding29.6530.300.6514.9830-60NFGC-25-GC-1031.2510.859.602.1770-95Keats ExcavationIncluding10.1510.850.7011.9570-95And14.1516.752.601.1170-95And25.4028.052.651.0470-95NFGC-25-GC-1050.002.302.303.85UnknownKeats ExcavationIncluding0.000.400.4021.96UnknownAnd16.1518.502.351.5070-95NFGC-25-GC-1088.1514.256.101.7270-95Keats ExcavationNFGC-25-GC-110No Significant ValuesKeats ExcavationNFGC-25-GC-11123.7034.3010.602.3765-95Keats ExcavationIncluding29.4030.150.7511.2765-95And37.8040.702.906.2950-80Including40.2540.700.4532.1850-80NFGC-25-GC-1154.9010.755.8515.8560-90Keats ExcavationIncluding4.905.350.45199.1660-90And42.6045.352.751.5570-95And54.6058.003.4051.3070-95Including54.6055.200.6031.1870-95Including55.5556.100.55278.0770-95 ICEBERG EXCAVATIONHole No.From (m)To (m)Interval (m)Au (g/t)True Width (%)ZoneNFGC-25-GC-04358.7062.603.902.4455-85Iceberg ExcavationAnd71.9575.603.6515.5125-55Including73.8575.601.7528.8125-55NFGC-25-GC-04654.7074.7520.056.7740-70Iceberg ExcavationIncluding72.5073.300.8087.0640-70Including74.0074.750.7544.6940-70NFGC-25-GC-04819.5021.552.051.3970-95Iceberg ExcavationAnd24.0026.552.551.0670-95And45.1554.309.1528.0770-95Including50.7053.202.5097.7270-95And58.7061.002.301.0770-95And69.1572.002.8513.3170-95Including69.1570.000.8511.3770-95Including71.0072.001.0020.3770-95And78.0080.002.001.1570-95NFGC-25-GC-05040.0046.356.351.5470-95Iceberg ExcavationAnd50.4568.0017.5522.6355-85Including51.2053.101.9065.5155-85Including53.6054.400.8027.5055-85Including56.8057.200.40162.3355-85Including57.8058.700.9036.9955-85Including63.9066.402.5031.7970-95Including66.8068.001.2045.1170-95NFGC-25-GC-05236.8042.755.951.6070-95Iceberg ExcavationAnd48.1572.0023.857.5670-95Including48.6049.200.6012.2670-95Including61.1563.702.5517.0070-95Including64.4065.200.8074.2170-95Including68.0569.801.7512.9470-95Including71.5072.000.5038.4470-95NFGC-25-GC-05539.5047.407.903.3570-95Iceberg ExcavationIncluding46.2047.100.9018.5570-95And51.4567.4516.0076.5870-95Including51.4552.851.4012.5470-95Including55.4055.700.3063.7770-95Including61.3061.900.6049.8470-95Including63.5067.453.95288.4870-95And Including63.5064.250.75656.5970-95NFGC-25-GC-05823.7526.452.7014.9970-95Iceberg ExcavationIncluding24.4025.350.9543.1170-95And31.3057.4526.1511.6270-95Including37.7538.650.9016.3870-95Including40.3542.301.9553.5570-95Including43.1544.651.5028.6470-95Including49.8051.001.2028.6770-95Including55.8556.650.8086.4470-95NFGC-25-GC-05918.7026.107.401.9670-95Iceberg ExcavationAnd33.3044.3511.0511.9770-95Including35.0035.450.4512.5270-95Including35.9537.451.5029.6070-95Including38.9039.550.6568.8570-95Including42.6543.100.4554.1650-80NFGC-25-GC-06134.9556.1521.2035.4170-95Iceberg ExcavationIncluding37.8038.250.4565.6270-95Including42.7044.001.3077.0870-95Including45.1046.151.0567.2470-95Including48.9549.750.8076.2370-95Including50.6551.350.70107.8560-90Including52.3555.603.25118.4560-90NFGC-25-GC-06420.0022.202.201.2570-95Iceberg ExcavationAnd32.3041.309.0030.8570-95Including32.3032.750.4561.9670-95Including33.3034.100.80223.2270-95Including38.9040.451.5530.6270-95NFGC-25-GC-06718.2521.453.201.2670-95Iceberg ExcavationAnd38.8550.3011.4527.8470-95Including39.8540.800.9516.1770-95Including41.6042.851.2538.2570-95Including45.2046.551.35125.7270-95Including49.7050.300.60119.0770-95NFGC-25-GC-06937.8069.7531.9571.8170-95Iceberg ExcavationIncluding39.1042.653.5580.5570-95Including47.9548.900.9528.9770-95Including51.3553.452.10154.0370-95And Including51.3551.900.55512.6470-95Including56.8057.400.6050.4570-95Including59.4560.200.7590.5370-95Including63.1569.756.60230.1770-95And Including66.2067.801.60595.5870-95And79.0081.152.152.69UnknownIncluding80.6581.150.5010.78UnknownNFGC-25-GC-07213.4034.9521.5544.4470-95Iceberg ExcavationIncluding13.4014.100.7075.0765-95Including22.6023.100.50116.6270-95Including24.2025.851.6522.2770-95Including27.7028.500.8014.0070-95Including29.3531.402.05215.3270-95Including32.3532.900.55632.8755-85NFGC-25-GC-07415.3522.206.858.3870-95Iceberg ExcavationIncluding15.3516.000.6516.0670-95Including16.7017.901.2030.2670-95And31.1544.2513.103.8870-95Including35.6037.101.5022.2470-95NFGC-25-GC-07619.8526.206.351.0170-95Iceberg ExcavationAnd38.4551.3012.8518.4370-95Including39.3039.750.4510.2370-95Including48.4048.850.4581.0040-70Including50.5051.300.80199.1940-70NFGC-25-GC-07914.1025.6511.552.2170-95Iceberg ExcavationIncluding25.3525.650.3061.5470-95And40.4051.8011.4041.1270-95Including40.4040.700.3010.7670-95Including41.3542.351.0037.2570-95Including43.0043.700.7014.3670-95Including47.9048.400.50629.4470-95Including48.7050.301.6055.7150-80And57.3559.552.2011.7450-80Including57.9059.551.6515.5650-80And65.2068.002.8011.8725-55Including65.2066.801.6018.6425-55NFGC-25-GC-08216.8036.6519.8543.1865-95Iceberg ExcavationIncluding17.5019.401.90221.8165-95Including24.6525.000.3514.1070-95Including31.0034.003.00122.5370-95Including34.5535.200.6535.3370-95NFGC-25-GC-08416.8019.752.955.2370-95Iceberg ExcavationAnd40.9543.752.8017.5170-95Including41.4043.001.6027.2470-95And48.9060.6011.7027.3170-95Including48.9051.652.7577.1870-95Including57.9060.602.7038.2960-90NFGC-25-GC-08519.3022.202.902.6370-95Iceberg ExcavationAnd41.8044.102.3017.9965-95Including42.5542.900.35114.2865-95And57.6562.604.958.1670-95Including62.1562.600.4551.1970-95And69.8072.152.3520.0570-95Including70.8071.500.7065.1370-95NFGC-25-GC-0876.008.202.201.73UnknownIceberg ExcavationAnd18.1520.702.551.7870-95And42.8052.009.206.7070-95Including50.9051.250.35138.4570-95And63.0075.5512.558.2670-95Including63.8065.201.4019.7870-95Including66.0567.751.7036.8670-95NFGC-25-GC-09058.0066.558.552.4865-95Iceberg ExcavationIncluding61.5062.000.5011.2365-95NFGC-25-GC-09356.3562.406.056.7470-95Iceberg ExcavationIncluding57.0058.001.0015.3570-95Including60.7061.701.0017.9270-95NFGC-25-GC-09721.3024.152.851.0770-95Iceberg ExcavationAnd27.6555.2027.5511.8870-95Including31.3533.902.5527.9170-95Including34.4535.951.5036.0470-95Including43.4043.800.4020.0970-95Including54.7555.200.45321.5970-95NFGC-25-GC-0992.004.102.101.02UnknownIceberg ExcavationAnd43.0045.202.202.4070-95NFGC-25-GC-10115.6520.504.851.1570-95Iceberg ExcavationAnd40.0053.9013.901.5370-95Including41.1541.550.4012.1670-95NFGC-25-GC-10442.1544.452.301.2370-95Iceberg ExcavationNFGC-25-GC-1063.6022.2518.6531.6170-95Iceberg ExcavationIncluding3.604.550.95239.2860-90Including10.2510.900.6515.8370-95Including14.3015.050.7544.8270-95Including17.6022.254.6565.5970-95NFGC-25-GC-10712.6015.202.6014.3070-95Iceberg ExcavationIncluding12.6014.351.7517.8170-95And21.7530.058.3055.4370-95Including21.7522.600.8553.6570-95Including23.6024.150.55141.0970-95Including24.4524.900.45750.7670-95NFGC-25-GC-10911.0013.002.002.3170-95Iceberg ExcavationAnd17.1519.752.60120.1370-95Including17.8018.951.15304.8670-95And25.4040.8015.408.5570-95Including25.4025.750.3522.7770-95Including27.4528.000.5513.7570-95Including31.3532.300.9588.6670-95NFGC-25-GC-1120.002.352.351.0370-95Iceberg ExcavationAnd8.0020.9012.9030.4365-95Including8.0010.552.5518.9070-95Including15.6016.100.5027.2065-95Including16.4017.901.50118.7565-95Including19.4020.501.10133.3565-95NFGC-25-GC-11328.8038.9010.1012.8270-95Iceberg ExcavationIncluding28.8029.300.5018.4870-95Including30.2531.301.0525.0970-95Including31.8032.700.9083.1770-95And44.5047.152.658.1750-80Including46.3046.600.3056.9150-80NFGC-25-GC-1168.0011.703.701.1070-95Iceberg ExcavationAnd28.4038.309.903.7470-95Including28.8530.051.2023.2870-95NFGC-25-GC-11724.3029.505.205.2470-95Iceberg ExcavationIncluding24.3025.701.4016.3870-95NFGC-25-GC-1183.759.155.401.1670-95Iceberg ExcavationAnd27.4034.256.854.4370-95And40.3553.0512.7040.5640-70Including50.3553.052.70186.5440-70And Including52.5553.050.50807.2340-70NFGC-25-GC-1193.408.004.608.8170-95Iceberg ExcavationIncluding6.108.001.9019.3270-95And16.4524.508.0526.7170-95Including17.9019.902.0097.2270-95Including20.9021.800.9012.1570-95NFGC-25-GC-12021.7024.202.501.0960-90Iceberg ExcavationAnd31.0037.006.003.0860-90Including31.0032.451.4512.5360-90NFGC-25-GC-1216.3510.203.851.3570-95Iceberg ExcavationAnd29.6033.754.1516.9270-95Including32.3533.250.9074.8270-95NFGC-25-GC-1224.356.402.0519.7270-95Iceberg ExcavationIncluding4.706.401.7023.6470-95And13.4523.359.9012.9860-90Including14.4017.202.8034.5760-90Including18.0018.500.5032.3860-90NFGC-25-GC-12314.4023.459.0511.0670-95Iceberg ExcavationIncluding17.6019.201.6052.5170-95NFGC-25-GC-1249.4011.652.251.0970-95Iceberg ExcavationAnd17.0029.4012.405.1770-95Including18.8020.301.5030.3270-95 Note that the host structures are interpreted to be moderately to steeply dipping. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m vertical depth. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness.Table 3 Details of drill holes reported in this press release.Hole No.Azimuth (°)Dip (°)Length (m)UTM EUTM NZoneNFGC-25-GC-043300-451086584195427780IcebergNFGC-25-GC-046300-45996584225427785IcebergNFGC-25-GC-048300-45846584275427793IcebergNFGC-25-GC-050300-45766584295427797IcebergNFGC-25-GC-052300-45766584325427802IcebergNFGC-25-GC-055299-45.2756584375427805IcebergNFGC-25-GC-056300-45136581815427527KeatsNFGC-25-GC-058300-45636584375427810IcebergNFGC-25-GC-059299-45.5516584365427817IcebergNFGC-25-GC-060300-45116582485427541KeatsNFGC-25-GC-061300-45616584425427814IcebergNFGC-25-GC-062298-45.2216581825427521KeatsNFGC-25-GC-063299-45266581775427512KeatsNFGC-25-GC-064299-45.5596584415427819IcebergNFGC-25-GC-065299-45366581865427516KeatsNFGC-25-GC-066299-45216581715427516KeatsNFGC-25-GC-067299-45.5676584495427815IcebergNFGC-25-GC-068300-45346582285427546KeatsNFGC-25-GC-069300-45836584445427807IcebergNFGC-25-GC-070300-45186582135427555KeatsNFGC-25-GC-071300-45236581725427521KeatsNFGC-25-GC-072300-45426584345427824IcebergNFGC-25-GC-073300-45156581665427519KeatsNFGC-25-GC-074300-45676584305427815IcebergNFGC-25-GC-075300-45136581765427525KeatsNFGC-25-GC-076300-45636584255427806IcebergNFGC-25-GC-078300-45216581795427516KeatsNFGC-25-GC-079299-45846584265427806IcebergNFGC-25-GC-080300-45316582315427550KeatsNFGC-25-GC-081300-45276582235427549KeatsNFGC-25-GC-082300-45426584295427821IcebergNFGC-25-GC-083300-45546582485427535KeatsNFGC-25-GC-084299-45856584205427797IcebergNFGC-25-GC-085300-45796584175427793IcebergNFGC-25-GC-086300-45396582375427547KeatsNFGC-25-GC-087299-45786584155427789IcebergNFGC-25-GC-088299-45196582465427530KeatsNFGC-25-GC-089299-45256582255427554KeatsNFGC-25-GC-090299-45716584145427772IcebergNFGC-25-GC-091299-45156582165427559KeatsNFGC-25-GC-092299-45166582435427526KeatsNFGC-25-GC-093299-45696584175427776IcebergNFGC-25-GC-094299-45216582185427552KeatsNFGC-25-GC-095299-45526582405427533KeatsNFGC-25-GC-096299-45236582215427556KeatsNFGC-25-GC-097300-45606584315427808IcebergNFGC-25-GC-098298-45486582395427540KeatsNFGC-25-GC-099300-45586584125427785IcebergNFGC-25-GC-100300-45236581905427533KeatsNFGC-25-GC-101300-45586584105427780IcebergNFGC-25-GC-102300-45476582355427536KeatsNFGC-25-GC-103300-45316581985427529KeatsNFGC-25-GC-104300-45616584075427776IcebergNFGC-25-GC-105300-45266582175427547KeatsNFGC-25-GC-106300-45286584275427827IcebergNFGC-25-GC-107300-45386584235427819IcebergNFGC-25-GC-108300-45246581875427524KeatsNFGC-25-GC-109300-45.5486584235427814IcebergNFGC-25-GC-110300-45246582525427527KeatsNFGC-25-GC-111300-45486582385427529KeatsNFGC-25-GC-112300-45276584225427825IcebergNFGC-25-GC-113300-45506584155427806IcebergNFGC-25-GC-115300-45596582425427521KeatsNFGC-25-GC-116300-45516584115427802IcebergNFGC-25-GC-117300-45566584085427798IcebergNFGC-25-GC-118300-45596584065427794IcebergNFGC-25-GC-119300-45326584135427817IcebergNFGC-25-GC-120300-45446584015427785IcebergNFGC-25-GC-121300-45506583995427781IcebergNFGC-25-GC-122300-45256584145427824IcebergNFGC-25-GC-123300-45306584085427816IcebergNFGC-25-GC-124300-45376584065427811Iceberg Sampling, Sub-sampling, and Laboratory All drilling recovers HQ core. For deep holes, the core size may be reduced to NQ at depth. The drill core is split in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.A geologist examines the drill core and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (

They are mining, they are in a ramp up phase and headed to commercial production at Hammerdown.

Why don't they start mining?

New Found Gold Announces Preliminary Economic Assessment and Updated Mineral Resource Estimate for the Hammerdown Gold ProjectFebruary 26, 2026 5:00 PM
NewsfileHub and Spoke Mine Plan in Central Newfoundland: Three deposits, Hammerdown, Orion and Stog'er Tight, centered around the Company's Pine Cove Mill Robust Economics: After-tax NPV5%[1] of $199.2 M[2] using a base case scenario (variable price deck: long-term price of US$3,475/oz averaging US$3,656/oz Au[3])After-tax NPV5% of $415.1 M using an upside scenario (US$5,000/oz Au)Solid Production over an Extended Mine Life: 251,287 oz Au produced over a 13-year LOM[4]Average LOM total cash costs[5] and AISC[6] of US$2,149/oz Au and US$2,429/oz AuTotal after-tax free cash flow[7] of $243.3 MAdditional Value Potential from Exploration Upside:Deposits open laterally and to depth; additional target areas being evaluated Exploration planned to commence H2/26All amounts in Canadian dollars unless stated otherwiseToronto, Ontario--(Newsfile Corp. - February 26, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce the results of a positive Preliminary Economic Assessment ("PEA") and updated mineral resource estimate ("MRE") for the Company's 100% owned Hammerdown Gold Project ("Hammerdown" or the "Project"), which includes the Hammerdown deposit, Orion deposit and Stog'er Tight deposit (collectively, the "Deposits") and the Pine Cove Mill ("Pine Cove" or the "Mill"), located in Newfoundland and Labrador, Canada. The Deposits are evaluated with a Hub and Spokes model centred around Pine Cove, with the Hammerdown deposit currently being ramped up to commercial production."Today's updated mineral resource and life of mine plan for Hammerdown demonstrates cashflow generation from operations which will offset overhead and exploration costs as we continue to fast-track our flagship Queensway Gold Project towards production in H2/27, taking full advantage of the tremendous synergies through our strategic purchase of Pine Cove and the Nugget Pond gold circuit. This purchase accelerates the development of Queensway by two to three years, coinciding with this exciting gold market," commented Keith Boyle, Chief Executive Officer. "Our team has a demonstrated track record of exploration success in the discovery of orogenic gold deposits in central Newfoundland. With the completion of the Maritime Resources Corp. acquisition just over three months ago, we have commenced evaluation of the exploration upside of the Project. As part of our Hub and Spoke strategy, the mine plan brings in additional resources with the inclusion of the Orion and Stog'er Tight deposits, which were not contemplated in previous mine plans. We look forward to commencing exploration work on our new landholdings later this year," continued Mr. Boyle.[1] NPV5% = net present value at a 5 percent discount rate.
[2] M = million.
[3] oz Au = ounces of gold; Base case gold price US$4,132 in Year 1, US$4,000 in Year 2, US$3,775 in Year 3, US$3,600 in Year 4 and 5 and US$3,475 thereafter.
[4] LOM = life-of-mine.
[5] Cash cost is a Non-GAAP measure; See notes below for additional information regarding cash costs.
[6] AISC = all in sustaining costs; Note AISC is a Non-GAAP measure; See notes below for additional information regarding AISC.
[7] Free cash flow is a Non-GAAP measure; See notes below for additional information regarding free cash flow.Project OverviewHammerdown includes the Company's 100% owned Hammerdown property and Pine Cove property (Figure 1). The Hammerdown property includes the Hammerdown deposit and the Orion deposit; the Pine Cove property includes the Stog'er Tight deposit and Pine Cove, a fully permitted processing plant and tailings facility.The Hammerdown deposit is an open-pit mining deposit with first gold pour in November 2025 and is currently ramping up gold production. Hammerdown is located in the north-central portion of the island of Newfoundland in the Province of Newfoundland and Labrador ("NL") on the east coast of Canada. The Hammerdown and Orion deposits are located approximately 95 kilometres ("km") by road from Pine Cove, which includes a fully permitted and operating processing plant and tailings facility. Commercial production at the Hammerdown deposit is expected to be achieved in H2/26. The Stog'er Tight deposit is located on the Pine Cove property, 4 km east of Pine Cove. The Company's 100% owned flagship Queensway Gold Project ("Queensway") is located approximately 270 km by road from Pine Cove and approximately 15 km west of the town of Gander. Key Outcomes of the PEA: The PEA has returned an after-tax NPV5% of $199.2 M at the base case gold price (variable price deck: long-term price of US$3,475/oz averaging US$3,656/oz Au) and an after-tax NPV5% of $415.1 M at the upside gold price of US$5,000 (Table 1),Over a 13-year period, the total mill feed throughput is expected to be 3.2 million tonnes ("Mt"), with an average mined grade of 2.19 grams of gold per tonne ("g/t Au"), a post-sorting mill feed head grade of 2.89 g/t Au and average annual gold production of approximately 19.3 thousand ounces ("koz") of gold per annum (Figure 2),Average LOM cash costs and AISC of US$2,149/oz and US$2,429/oz, respectively,Total capital costs (with contingency) are estimated at $24.3 M and reclamation, and closure costs are estimated at $18.0 M,The PEA mine plan was developed from Measured and Indicated Mineral Resources of 3,328 kt grading 2.43 grams per tonne ("g/t") gold containing 260,000 ounces of gold and Inferred Mineral Resources of 2,132 kt grading 2.34 g/t gold containing 161,000 ounces of gold.LOM Plan:13-year open pit project commencing in 2026, including one year of stockpile rehandling in 2038 (Figure 2),Continuation of the conventional open pit truck-and-shovel operation executed by a mining contractor, as currently underway at the Hammerdown deposit,Process plant feed rate of 700 tonnes per day ("tpd") with the addition of sorting at the Hammerdown and Orion deposits,Hammerdown deposit pit mined in multiple phases, followed by the Orion deposit pit and four Stog'er Tight deposit pits sequentially,The Hammerdown deposit accounts for 75% of mineralized material mined (82% of recovered gold), with mining taking place in this zone from year 1 to year 10 and the Orion and Stog'er Tight deposits account for 25% of mineralized material mined (18% of recovered gold), which will be mined from year 8 to year 12, The average material mined, consisting of mineralized material, waste rock and overburden, is 12,300 tpd during the LOM, ranging between 11,800 tpd and 18,400 tpd from year 1 to year 6 and between 2,500 tpd and 13,700 tpd from year 7 to year 12,The average strip ratio over the LOM is 11.4, with total material mined of 54.1 Mt including 4.4 Mt of mineralized material at an average grade of 2.19 g/t Au,With sorting, a total of 3.2 Mt of mineralized material at an average grade of 2.89 g/t Au will be processed with total gold recovery of 251.3 koz of gold; Process plant average gold recovery for the zones being mined from year 1 to year 4 is estimated to be 87.2% and 84.3% thereafter, with LOM average gold recovery of 85.5%.Table 1: Hammerdown Gold Project PEA Summary: Key Metrics and Project Economics. Production12026 PEAUnitsLOM13yearsTotal Potential Mill Feed Tonnage3,159ktAverage Mined Grade2.19g/t AuMill Feed Head Grade (Post-Sorting)2.89g/t AuCut-off Grade (Range Depending on Deposit)0.41-0.56g/t AuProcess Plant Average Gold Recovery 85.5%Contained Gold306.6kozRecovered Gold251.3kozAverage Annual Gold Production19.3koz/yrAverage Mineralized Material Mining Rate (Post Sorting)700tpdStrip Ratio11.4:1waste:oreOperating & Capital Costs1Total Operating Costs1,2725.9$MSustaining Capital Costs (with contingency)97.7$MTotal Capital Costs (with Contingency)24.3$MReclamation and Closure Capital18.0$MRoyalty NSR17.4$MTotal Cash Cost2,149US$/oz AuAISC (LOM)2,429US$/oz AuFinancial SummaryGold Price (Average LOM Base Case)3,656US$/oz AuExchange Rate1.39C$/US$Discount Rate5%Pre-Tax NPV5% (Base Case Gold Price: US$3,656 average LOM)318.5$MAfter-Tax NPV5% (Base Case Gold Price: US$3,656 average LOM)199.2$MPre-Tax NPV5% (Upside Gold Price: US$5,000)680.8$MAfter-Tax NPV5% (Upside Case Gold Price: US$5,000)415.1$MInternal Rate of ReturnN/A-Payback PeriodN/A- Notes:
1 Denotes a "specified financial measure" within the meaning of National Instrument 52-112 - non-GAAP and Other Financial Measures Disclosure. See note on "Non-IFRS Financial Measures".
2 Total operating costs refer to onsite charges that cover open pit mining, processing and material handling, and onsite general and administrative costs.
3 AISC is calculated as the sum of doré transportation, treatment and refining charges, royalties, onsite operating costs, and sustaining capital costs, divided by the quantity of ounces sold. The PEA is preliminary in nature, it includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. No Mineral Reserves are defined for the Project.Figure 1: Hammerdown Gold Project: Location Map.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285504_5cc229df2479f9df_001full.jpgFigure 2: Hammerdown Gold Project: Gold Production by Year with Mill Feed Head Grade and AISC.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285504_5cc229df2479f9df_002full.jpgMineral Resource EstimateMineral Resources are reported for the Hammerdown, Orion, and Stog'er Tight deposits, which are planned to share Pine Cove. Measured and Indicated Mineral Resources ("M&I") for the projects combined total 3.328 Mt at an average gold grade of 2.43 g/t Au for 260,000 contained ounces of gold. Inferred Mineral Resources total 2.132 Mt at an average grade of 2.34 g/t Au for 161,000 ounces of gold (Table 2).Table 2: Hammerdown Gold Project Consolidated MRE (effective date January 22, 2026)12.PropertyDepositMining
MethodCategoryTonnage
(kt)Grade
(g/t Au)Contained Oz (koz)3HammerdownHammerdownOpen PitMeasured2718.2472Indicated1,8231.96115Measured & Indicated2,0942.77187Inferred9732.5981HammerdownOrionOpen PitIndicated5981.7533.6Inferred911.925.6UndergroundIndicated6361.9239.3Inferred5232.1636.2Pine CoveStog'er TightOpen PitInferred5452.1637.8TotalMeasured2718.2472Indicated3,0571.91188Measured & Indicated3,3282.43260Inferred2,1322.34161 Notes:
1 Refer to the Appendix to see MRE notes and data verification for each deposit.
2 The mineral resource database was closed on June 16, 2025, and contains 93,818 metres ("m") of drilling in 1,108 diamond drill holes ("DDH") and 310 m in 86 channels at Hammerdown, 46,017.34 m of drilling in 219 DDH at the Orion deposit and 35,246.42 m of drilling in 523 DDH at the Stog'er Tight deposit that were used to inform the MRE presented. The Qualified Person ("QP"), as defined by National Instrument 43-101 - Standards of Disclosure of Mineral Projects ("NI 43-101"), responsible for the MRE were Christian Beaulieu of Mineralis Consulting Services Inc. for the Hammerdown deposit, Chafana Sako of Norda Stelo Inc. for the Orion and Stog'er Tight deposits, and Stephen Coates of Evomine Consulting Inc. for constraining volumes on all deposits.
3 Numbers may not total due to rounding.Comparison of PEA Relative to 2022 Feasibility StudyThe following section provides a comparison of the updated Mineral Resources reported herein to the technical report titled "Feasibility Study Technical Report: Hammerdown Gold Project, Newfoundland" with an effective date of August 15, 2022, prepared by JDS Energy and Mining Inc. for Maritime Resources Corp. (the "2022 Feasibility Study", Table 3). Changes to the Hammerdown deposit MRE in the 2022 Feasibility Study primarily reflect the application of new estimation parameters informed by increased data confidence from the tightly spaced grade control drilling completed in 2024 and 2025. Specifically, tighter distance constraints were applied to high grade intervals, which affected overall grade and ultimately reduced it relative to the previous estimate. Additional changes include an increase in resources classified as inferred due to missing data validation needed to confirm the positions of historically mined out underground stopes. New optimization parameters also contribute to loss in contained ounces, as well as additional depletion of historically mined stopes. The methodology used to report the MRE in a narrow-vein environment also contributes to lower grades as more waste is accounted for as must-take material. Adjusted cut-off grades and the reporting methodology contributed to the increase in contained metal. The Orion and Stog'er Tight deposits were not included in the 2022 Feasibility Study.Table 3: Hammerdown Gold Project Consolidated MRE Compared to 2022 Feasibility Study3.2026 PEA1, 42022 Feasibility Study (open pit only)2, 3Resource CategoryTonnage
(kt)Grade
(g/t Au)Contained Oz
(koz)Tonnage
(kt)Grade
(g/t Au)Contained
Oz (koz)Measured2718.24726985.47123Indicated3,0571.9118821463.00207Measured & Indicated3,3282.4326028453.61330Inferred2,1322.341613021.3113 Notes:
1 Using a cut-off grade of 0.35 g/t Au for Hammerdown (excluding Wisteria), 0.48 g/t Au for Hammerdown Wisteria area, 0.47 g/t Au for Orion open pit, 1.13 g/t Au for Orion underground and 0.42 g/t Au for Stog'er Tight open pit.
2 2022 Feasibility Study, with an effective date of August 15, 2022, prepared by JDS Energy and Mining Inc. for Maritime Resources Corp.
3 The Orion and Stog'er Tight deposits were not included in the 2022 Feasibility Study.
4 Refer to the Appendix for additional MRE notes.Mining The PEA contemplates open pit mining from the Hammerdown, Orion and Stog'er Tight deposits, designed as conventional truck and shovel open pit operations operated by a contractor. Run of mine ("ROM") mineable material from the Hammerdown and Orion deposits will be sent to the on-site crushing and sorting plant to produce mill feed that will be hauled to Pine Cove for final processing. A total of 4,354 Mt of ROM mineable material is scheduled to be mined from all open pits with a diluted grade averaging 2.19 g/t Au. A total of 48.0 Mt of non-acid generating waste rock will also be produced and stored in a waste rock stockpile adjacent to the open pits. The open pits have been designed and scheduled to maximize project NPV. Pit slope optimization has been undertaken based on geotechnical data collected between 2020 and 2021. The Hammerdown deposit's open pit development consists of two phases of pushbacks with overburden thickness averaging less than 2 m. Mining will be completed by conventional drilling, blasting, loading and hauling on 4 m benches in mineralized material and 8 m benches in waste where practical at the Hammerdown deposit and 5 m benches at the Orion and Stog'er Tight deposits. Waste loading and haulage will be handled by 3 m3 hydraulic excavators and 41-tonne payload articulated haul trucks. Mineralized material loading and hauling will be handled by a fleet of 2 m3 hydraulic excavators with a 7 m3 front end loader as backup and 38 tonne payload articulated haul trucks. Grade control in the open pit is a key part of the mining process and will be accomplished through a combination of 4 to 5 m bench heights with 2 m flitches, controlled blasting, 50,000 m of close spaced diamond drilling (15 m centres, 10 m vertically) to identify and report vein orientations and grades to the mine planners, selective excavation under GPS control, and mine geological control. The sorting process is integrated to remove dilution taken with the narrow veins during the mining process. Processing and RecoveryPine Cove was commissioned on low grade stockpiles in 2025 and commenced processing Hammerdown deposit mineable material in Q4/25.The mineralized material from the Hammerdown, Orion and Stog'er Tight deposits will be processed at Pine Cove, a fully permitted processing plant and in-pit tailings facility. Mineable material from the three deposits will be trucked to the Mill and processed at a nominal rate of 700 tpd. The flowsheet consists of a ball mill and flotation circuit that produces a gold-pyrite concentrate, cyanide leach, filtration and Merrill Crowe gold recovery circuit. The process plant average gold recovery for the zones being mined from year 1 to year 4 is estimated to be 87.2% and 84.3% thereafter, with LOM average gold recovery of 85.5%. The Company has recently purchased a sorter which it plans to commission in H2/26. Sorting at the Hammerdown deposit is expected to commence in 2027, at the Orion deposit in 2033 and once commenced, continue over the LOM at these two deposits.Additional Value Potential from Exploration UpsideHammerdown hosts multiple gold-bearing trends with potential for resource growth and new discovery over the 44,650 hectare land package. To date, only limited near surface work has been completed across large portions of the land holdings, yet the Project presents a broad pipeline of early- to advanced-stage exploration targets. Near resource expansion opportunities remain strong at the Hammerdown, Orion, and Stog'er Tight deposits, where drilling to date has largely been confined to the upper 220 m with minimal lateral testing along key structural corridors (Figure 3). The limited deeper testing that has been completed to date has intersected mineralisation at vertical depths of up to 400 m at the Orion deposit, highlighting the opportunity for continued resource growth at depth.Figure 3: Hammerdown Gold Project: Hammerdown and Orion Deposit Longitudinal Sections.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285504_5cc229df2479f9df_003full.jpgLooking ahead, the Company plans to advance step out drilling around existing mineral resources while evaluating high priority regional targets along prospective trends, including the Hammerdown Deformation Zone, Whisker Valley, El Strato, Scrape, Goldenville, and Deer Cove (Figure 4).In 2026, exploration activities will emphasize comprehensive data compilation, geological interpretation, and systematic targeting to support a long-term discovery strategy and inform well-designed programs for 2027 and beyond.Concurrently, drilling is scheduled to begin in H1/26 to derisk the deeper portions of the Hammerdown deposit mine plan. Regional initiatives will focus on building foundational datasets, including property wide geophysics, reconnaissance soil sampling, and prospecting, to guide future exploration and enhance the geological understanding across the broader land package.Figure 4. Hammerdown Gold Project: Exploration Potential.To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285504_5cc229df2479f9df_004full.jpgQualified Persons and Technical InformationThe PEA was prepared by consultants who are independent of New Found Gold, each of whom are QPs as defined by NI 43-101. Each of the QPs have reviewed and confirmed that this news release fairly and accurately reflects, in the form and context in which it appears, the information contained in the respective sections of the PEA for which they are responsible. The following acted as QPs under NI 43-101 as authors of the PEA:William Richard McBride, P.Eng., WSP Canada Inc., responsible for Introduction, Market Studies and Contracts, compiling of Capital and Operating Costs, Economic Analysis.Dachun (David) Jin, P.Eng., WSP Canada Inc., responsible for Project Infrastructure, Electrical and Water Management Capital Costs.Stephen Coates, P.Eng., Evomine Consulting Inc., responsible for Mineral Reserve Estimate, Mining Methods, Project Infrastructure, Subsection for haul roads and stockpiles, LOM Plan, Mining Capital and Operating Costs.Christian Beaulieu, P.Geo., Minéralis Consulting Services Inc., responsible for Property Description and Location, Accessibility, Climate, Local Resources, Infrastructure, and Physiography, History, Geological Setting and Mineralization (Hammerdown deposit), Deposit Types (Hammerdown deposit) Exploration (Hammerdown deposit), Drilling (Hammerdown deposit), Sample Preparation, Analyses, and Security (Hammerdown deposit), Data Verification (Hammerdown deposit only), Mineral Resource Estimate (Hammerdown deposit), Adjacent Properties.Michael Levy, P.Eng., JDS Energy & Mining Inc. responsible for Geotechnical Analysis and Slope Design Parameters for Hammerdown, Orion and Stog'er Tight deposits open pits.Chafana Hamed Sako, P.Geo., Norda Stelo Inc., responsible for Geological Setting and Mineralization (Orion deposit), Deposit Types (Orion deposit), Exploration (Orion deposit), Drilling (Orion deposit), Sample Preparation, Analyses, and Security (Orion deposit), Data Verification (Orion deposit), Mineral Resource Estimate (Orion and Stog'er Tight deposits).James Guiraud, P.Geo., Norda Stelo Inc., responsible for Geological Setting and Mineralization (Stog'er Tight deposit), Deposit Types (Stog'er Tight deposit), Exploration (Stog'er Tight deposit), Drilling (Stog'er Tight deposit), Sample Preparation, Analyses, and Security (Stog'er Tight deposit), Data Verification (Stog'er Tight deposit).Stacy J. Freudigmann, P.Eng., Canenco Consulting Corp., responsible for Mineral Processing and Metallurgical Testing, Recovery Methods , Sorting and Crushing Plant Capital and Operating Costs.Sheldon H. Smith, P.Geo., Stantec Consulting Ltd., responsible for Property Description and Location - Subsection for environmental risks and liabilities, Mining Methods - Subsection for hydrogeology and geochemistry, Environmental Studies, Permitting, and Social or Community Impact, Closure Costs.J. Alex Mcintyre, P.Eng., Knight Piesold Ltd., responsible for Project Infrastructure - Subsection for tailings, Environmental Studies, Permitting, and Social or Community Impact - Subsection for closure, TSF Operating Costs.Neil J. Lincoln, P.Eng., Lincoln Metallurgical, Inc., responsible for Recovery Methods - input, Mill Capital and Operating Costs, general and administrative ("G&A") costs, Haulage.Mr. Keith Boyle, P.Eng., CEO of New Found Gold, is the Company's QP under NI 43-101 and has reviewed and assumes responsibility for the scientific and technical content in this press release.Technical ReportThe complete NI 43-101 Technical Report pertaining to the PEA (the "Technical Report") will be filed within 45 days and will be available on the New Found Gold website, on SEDAR+ (www.sedarplus.ca) and on EDGAR (www.sec.gov/edgar).About New Found Gold Corp.New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and Hammerdown, which includes fully permitted milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.Through 2025 New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp. Contact For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/ or contact: Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.AppendixHammerdown Deposit MRE The mineralized domains at the Hammerdown deposit were modeled by using drillhole assay data in Leapfrog Geo™ ("Leapfrog") and categorized as either vein-hosted or disseminated mineralization. Vein-hosted zones (Hammerdown, Muddy Shag and Rumbullion areas) were modeled using a nominal 0.50 g/t Au cut-off and capture discrete high-grade veins within broader deformation corridors. Disseminated mineralization (Wisteria area) was modeled using a 0.35 g/t Au cut-off to define broader, lower-grade zones. The following updated Hammerdown deposit MRE is effective as of January 22, 2026 and incorporates 93,818 m of drilling in 1,108 DDH and 310 m in 86 channels (Table 4).Table 4: Hammerdown Deposit Updated MRE (effective date January 22, 2026).DepositMining
MethodCategoryTonnage
(kt)Grade
(g/t Au)Contained Oz
(koz)Hammerdown1Open PitMeasured2718.2472Indicated1,8231.96115Total Measured & Indicated2,0942.77187Inferred9732.5981 Hammerdown MRE Notes:The Mineral Resources described above have been prepared in accordance with the CIM Standards (Canadian Institute of Mining, Metallurgy and Petroleum, 2014).The effective date of the MRE is January 22nd, 2026 with a database cut-off date of June 16, 2025 and using a depletion surface of December 31st, 2025 . The lower cut-offs used to report open pit Mineral Resources are 0.48 g/t Au for the Wisteria area and 0.35 g/t Au for all other areas within the Hammerdown deposit pit optimization.The Hammerdown deposit has been classified as Measured, Indicated and Inferred Mineral Resources according to drill spacing and confidence in the historical stope placement.Bulk density was assigned based on historical and recent specific gravity measurements. A single value of 2.81 g/cm3 was used, and 1.9 g/cm3 for backfill material within historical stopes.The MRE is based on a subblocked model with a main block size of 2.5 m x 1 m x 4 m, and subblocks of 0.16 m x 0.06 m x 2 m. Gold grades were composited to 1-m length and estimated with ID3 and high-grade spatial restrictions.The open pit MRE is reported inside mineable shapes constrained by an open pit optimization to respect Reasonable Prospect of Eventual Economic Extraction (RPEEE). No mining dilution and losses are added to the MRE; however, must-take material is accounted for in open pit mineable shapes.Open pit optimization and cut-off grade assume long-term gold price of US$ 3,500/oz, and a US$/C$ exchange rate of 1.40, slope angles of 50°, bench height of 4 m, minimum mining width of 1.5 m, metallurgical recoveries of 92%, mining costs of C$10/t mined, processing costs of C$40/t processed, transport costs of C$25/t processed and general and administrative costs of C$10/t processed. Tonnage has been expressed in the metric system, and gold metal content has been expressed in troy ounces. The tonnages have been rounded to the nearest 1,000 tons, and the metal content has been rounded to the nearest 1,000 ounces. Totals may not add up due to rounding errors.These Mineral Resources are not Mineral Reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred Mineral Resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as indicated or measured; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.The QP is not aware of any factors or issues that materially affect the MRE other than normal risks faced by mining projects in the province in terms of environmental, permitting, taxation, socio-economic, marketing, and political factors, and additional risk factors regarding Indicated and Inferred Resources.Orion Deposit MREThe updated Orion deposit MRE was prepared by Norda Stelo using Leapfrog geo 2025.3 ("Leapfrog 2025.3") and Leapffog Edge 2025.3 ("Edge"). Leapfrog 2025.3 was used to model the lithologies and mineralized zones. The estimation, which consisted of 3D block modelling and grade interpolation, was performed with Edge. Statistical studies, capping and variography were completed using Edge, Snowden Supervisor v.9 ("Supervisor") and Microsoft Excel. Grades were interpolated using ordinary kriging. The updated MRE is reported above a 0.47 g/t Au cut-off for an open-pit scenario and at 1.13 g/t Au for an underground scenario. The following Orion deposit MRE is effective as of January 22, 2026, and incorporates 46,017.34 m in 219 DDH (Table 5).Table 5: Orion deposit MRE (effective date January 22, 2026).DepositMining MethodCategoryTonnage
(kt)Grade
(g/t Au)Contained Oz
(koz)Orion2Open PitIndicated5981.7533.6Inferred911.925.6UndergroundIndicated6361.9239.3Inferred5232.1636.2Total Indicated1.2341.8472.9Total Inferred6142.1241.8 Orion MRE Notes:These Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The MRE follows current CIM Definition Standards (2014) and CIM MRMR Best Practice Guidelines (2019). The QPs for the MRE, as defined by NI 43-101, are Chafana Sako, P.Geo. of Norda Stelo and Stephen Coates, P.Eng. of Evomine. The effective date is January 22, 2026.The estimation encompasses thirty seven (37) zones and a dilution envelope using Leapfrog 2025.3 and interpolated using Edge.1.0-m composites were calculated within the mineralized zones using the grade of the adjacent material when assayed or a value of zero when not assayed. High-grade capping on composites (supported by statistical analysis) was set between 5.0 and 70.0 g/t Au for envelopes.The estimate was completed using a sub-block model in Edge, with a parent block size of 5 m x 5 m x 5 m (X,Y,Z) and a sub-block size of 0.625 m x 0.625 m x 0.625 m (X,Y,Z). Grade interpolation was obtained by the Ordinary Kriging (OK) method using hard boundaries.Density values of 2.7 to 2.83 g/cm3 were assigned to all mineralized zones.Mineral Resources were classified as Indicated and Inferred Mineral Resources. The Inferred Mineral Resource category is defined for blocks estimated if the 1 to 5 holes closest to the block have an average distance < 35 to 55 m and if the block was estimated with pass 1 or 2 and there is reasonable geological and grade continuity.The MRE is locally pit constrained. The pit-constrained results are presented undiluted and are considered to have reasonable prospects of economic viability. The pit-constrained MRE is reported at a 0.42 g/t Au cut-off grade. The cut-off was calculated using the following parameters: gold price = US$ 3,500/oz; USD:CAD exchange rate = 1.40; mining cost = CA$10.00/t; processing + G&A costs = CA$48.50/t; bedrock slope angle of 50°; and mill recovery = 92%. The underground mineral resource estimate is reported at a cut-off grade of 1.13 g/t Au. The underground mineral resources estimate was based on potential long hole mining method depending on the orientation of the mineralization. The cut-off grade was calculated using the following parameters: mining cost = CA$ 100.00; processing cost and G&A = CA$ 82.02; selling costs = CA$ 4.89; gold price = US$ 3,500/oz; USD:CAD exchange rate = 1.40; and mill recovery = 92%.The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.). The number of metric tons (tonnes) was rounded to the nearest thousand, following the recommendations in NI 43-101. Any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348). The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues or any other relevant issue not reported in the Technical Report that could materially affect the MRE. Stog'er Tight Deposit MREThe Stog'er Tight deposit MRE was prepared by Norda Stelo using Leapfrog 2025.3 and Edge. Leapfrog was used to model the lithologies and mineralized zones. The estimation, which consisted of 3D block modelling and grade interpolation, was performed with Edge. Statistical studies, capping and variography were completed using Supervisor and Microsoft Excel. Grades were interpolated using ordinary kriging. The updated MRE is reported above a 0.42 g/t Au cut-off for an open-pit scenario. The following MRE is effective as of January 22, 2026 and incorporates 35,246.42 m in 523 DDH (Table 6). Table 6: Stog'er Tight MRE (effective date January 22, 2026).DepositMining MethodCategoryTonnage
(kt)Grade
(g/t Au)Contained Oz (koz)Stog'er Tight3Open PitTotal Inferred5452.1637.8 Stog'er Tight MRE Notes:This MRE follows current CIM Definition Standards (2014) and CIM MRMR Best Practice Guidelines (2019).The QPs for the MRE, as defined by NI 43-101, are Chafana Sako, P.Geo. of Norda Stelo and Stephen Coates, P.Eng. of Evomine. The effective date is January 22, 2026.The estimation encompasses twelve (12) zones and a dilution envelope using Leapfrog 2025.3 and interpolated using Edge.1.0-m composites were calculated within the mineralized zones using the grade of the adjacent material when assayed or a value of zero when not assayed. High-grade capping on composites (supported by statistical analysis) was set at 30.0 g/t Au for envelopes.The estimate was completed using a sub-block model in Edge, with a parent block size of 3 m x 3 m x 3 m (X,Y,Z) and a sub-block size of 0.75 m x 0.75 m x 0.75 m (X,Y,Z). Grade interpolation was obtained by the Ordinary Kriging (OK) method using hard boundaries.Density values of 2.8 to 2.9 g/cm3 were assigned to all mineralized zones.Mineral Resources were classified as Indicated and Inferred Resources. Indicated resources are defined for blocks were estimated if the 2 holes closest to the block have an average distance < 30 m with pass 1 or 2, and there is reasonable geological and grade continuity. The inferred category is defined for blocks estimated if the 1 hole closest to the block have an average distance < 60 m and if the block was estimated with pass 3 and there is reasonable geological and grade continuity.The MRE is locally pit constrained. The pit-constrained results are presented undiluted and are considered to have reasonable prospects of economic viability. The pit-constrained MRE is reported at a 0.48 g/t Au cut-off grade. The cut-off was calculated using the following parameters: gold price = US$ 3,500/oz; USD:CAD exchange rate = 1.40; mining cost = CA$10.00/t; processing + G&A costs = CA$82.02/t; bedrock slope angle of 50°; and mill recovery = 92%. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.).The number of metric tons (tonnes) was rounded to the nearest thousand, following the recommendations in NI 43-101. Any discrepancies in the totals are due to rounding effects. The metal contents are presented in troy ounces (tonnes x grade / 31.10348).The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, or marketing issues or any other relevant issue not reported in the Technical Report that could materially affect the MRE.Data VerificationThe data used in the Hammerdown MRE is supported by Quality Assurance and Quality Control ("QA/QC") procedures, such as the insertion of certified standards and blanks into the sample stream and the utilization of certified independent analytical laboratories for all assays. The QA/QC data and methodology on the project were reviewed and will be summarized in the Technical Report.Hammerdown Deposit MRE Christian Beaulieu, P.Geo. of Mineralis Consulting Services Inc., an independent QP in accordance with the requirements of NI 43-101, has reviewed the adequacy of sample preparation, security, and analytical procedures conducted by New Found Gold from 2018 through to the effective date of the Hammerdown deposit MRE. This review found no material issues or inconsistencies that could adversely affect the quality or reliability of the data. The QP is of the opinion that:New Found Gold's sample preparation procedures are appropriate for the deposit type and mineralization style.Analytical methods used, including fire assay, are suitable for determining gold grades in the Hammerdown deposit.The QA/QC program, which includes certified reference materials ("CRMs"), blanks, and field and coarse duplicates, is well-structured, meets industry standards, and provides confidence in the assay data.Sample security measures and chain of custody protocols are sufficient to ensure the integrity of the data.Overall, Mr. Beaulieu is of the opinion that New Found Gold's sampling, analytical methods, and QA/QC program meet industry standards and are suitable for use in the Hammerdown deposit MRE. While some CRMs show minor bias, they are not judged to materially impact the validity of the database and are conservative in nature.Data verification for the drill hole database included comparing gold assay values used to support the Hammerdown deposit MRE against the original analytical certificates from Eastern Analytical Ltd. ("EAL") in Springdale, NL, the primary laboratory used by New Found Gold between 2018 and 2025.Mr. Beaulieu identified no material discrepancies that would impact the validity of the Hammerdown deposit MRE and is of the opinion that the verification process confirms the reliability of the assay database, ensuring its suitability for use for the Hammerdown deposit MRE.In accordance with NI 43-101, Mr. Beaulieu, conducted a site visit to the Hammerdown deposit and related facilities on May 12 to May 13, 2025 and on October 15 to October 16, 2025. During these visits, Mr. Beaulieu inspected and reviewed the logging environment and procedures for data collection and sampling. He also examined core samples from the Wisteria, Hammerdown and Rumbullion areas of the Hammerdown deposit. In addition, he interviewed New Found Gold's personnel and gathered information necessary for completing the Hammerdown deposit MRE and accompanying Technical Report.Mr. Beaulieu also inspected mineralized intervals from drill hole cores and from surface mineralization (outcrops) relevant to the Hammerdown deposit MRE and verified collar locations using a handheld GPS and visually comparing mineralization with interpreted drilling sections. New Found Gold provided full access to all facilities and personnel during the visit. Mr. Beaulieu was accompanied by New Found Gold personnel: Jason Flight, P.Geo. (Senior Project Geologist), Larry Pilgrim, P.Geo. (Project Manager, NL Properties) and Paul LeGrow, P.Geo (Geologist).Orion Deposit MREChafana Sako, P.Geo. of Norda Stelo, an independent QP in accordance with the requirements of NI 43-101, has reviewed the adequacy of sample preparation, security, and analytical procedures conducted by New Found Gold from 2011 through to the effective date for the Orion deposit. This review found no material issues or inconsistencies that could adversely affect the quality or reliability of the data. The QP is of the opinion that:NFG's sample preparation procedures are appropriate for the deposit type and mineralization style.Analytical methods used, including fire assay, are suitable for determining gold grades in the Orion deposit.The QA/QC program, which includes CRMs, blanks, and duplicates, is well-structured, meets industry standards, and provides confidence in the assay data.Sample security measures and chain of custody protocols are sufficient to ensure the integrity of the data. Overall, Mr. Sako is of the opinion that NFG's sampling, analytical methods, and QA/QC program meet industry standards and are suitable for use in the Orion deposit MRE.Data verification for the drill hole database included comparing gold assay values used to support the Orion deposit MRE against the original analytical certificates from EAL in Springdale, NL, the primary laboratories used by New Found Gold between 2011 and 2022.Mr. Sako found no material discrepancies identified that would impact the validity of the Orion deposit MRE and is of the opinion that the verification process confirms the reliability of the assay database, ensuring its suitability for use for this MRE.Stog'er Tight Deposit MREChafana Sako, P.Geo. of Norda Stelo, an independent QP in accordance with the requirements of NI 43-101, has reviewed the adequacy of sample preparation, security, and analytical procedures conducted by New Found Gold from 2014 through to the effective date for the Stog'er Tight deposit MRE. This review found no material issues or inconsistencies that could adversely affect the quality or reliability of the data. The QP is of the opinion that:NFG's sample preparation procedures are appropriate for the deposit type and mineralization style.Analytical methods used, including fire assay, are suitable for determining gold grades in the Stog'er Tight deposit.The QA/QC program, which includes CRMs, blanks, and duplicates, is well-structured, meets industry standards, and provides confidence in the assay data.Sample security measures and chain of custody protocols are sufficient to ensure the integrity of the data. Overall, Mr. Sako is of the opinion that New Found Gold's sampling, analytical methods, and QA/QC program meet industry standards and are suitable for use in the Stog'er Tight deposit MRE.Data verification for the drill hole database included comparing gold assay values used to support the Stog'er Tight deposit MRE against the original analytical certificates from EAL in Springdale, NL, the primary laboratories used by New Found Gold between 2014 and 2021. Mr. Sako found no material discrepancies identified that would impact the validity of the Stog'er Tight deposit MRE and is of the opinion that the verification process confirms the reliability of the assay database, ensuring its suitability for use for this MRE.In accordance with NI 43-101, James Guiraud, P.Geo., of Norda Stelo, conducted a site visit to the Stog'er Tight deposit and related facilities on October 5 to 10, 2025. During this visit, he inspected and reviewed the logging environment and procedures for data collection and sampling. He also examined core samples from the Stog'er Tight deposit. In addition, he interviewed New Found Gold's personnel and gathered information necessary for completing Stog'er Tight deposit MRE and accompanying Technical Report.Mr. Sako also inspected drill collars and drill hole cores relevant to this MRE, verifying collar locations and visually comparing mineralization with interpreted drilling sections. New Found Gold provided full access to all facilities and personnel during the visit. Exploration DataFigure 4 presents a compilation of historic and recent rock sample results collected by Maritime Resources Corp. ("Maritime"), Signal Gold Inc. ("Signal Gold"), as well as previous operators. Rock samples were obtained during prospecting programs, geological mapping, channel sampling, and diamond drilling campaigns. Sampling media include, outcrop and channel samples, interpreted to represent in place bedrock; float samples of uncertain origin that may have been transported by glacial or surficial processes; subcrop samples derived from low lying or partially exposed material that may reflect underlying bedrock but cannot be assumed to be in situ; and diamond drill core.Historic operators employed a variety of location control methods, including cut lines and non GPS techniques, resulting in variable positional accuracy for older sample data. In contrast, Maritime and Signal Gold used handheld GPS units for geological mapping, prospecting, and a combination of handheld GPS and high-precision Trimble Differential GPS system for drill hole collar and channel sample locations.Recent analytical work completed by Maritime and Signal Gold was performed by EAL of Springdale, NL. EAL is accredited to ISO 17025:2005 for a defined scope of analytical procedures and is independent of New Found Gold. Samples were delivered to the laboratory in sealed plastic bags by field personnel. At EAL, samples were dried, crushed, and pulped. Crushing was completed to approximately 80% passing -10 mesh, after which a riffle splitter was used to obtain a ~250 g subsample. This subsample was pulverized using a ring mill to 95% passing -150 mesh. A 30 g aliquot was selected from the pulped material for fire assay analysis.EAL maintains a comprehensive internal QA/QC program including the routine insertion of standards, blanks, and duplicates within each analytical batch. In addition, for drill core and channel sampling only, Maritime and Signal Gold inserted CRMs, blanks, and duplicate samples into the sample stream to monitor assay accuracy and precision during drilling campaigns. Umpire check assays were periodically completed at an independent secondary laboratory to assess potential analytical bias, involving re-analysis of selected pulps and rejects. The EAL internal QA/QC program was relied on for grab samples.Historical QA/QC information provided by prior operators is incomplete and cannot be fully verified. Database records indicate that the majority of historical analyses were performed by EAL; however, the absence of documented QA/QC protocols limits the ability to assess data reliability for older sampling.Cautionary StatementThe PEA is preliminary in nature. It includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves and there is no certainty that the PEA will be realized.Forward-Looking Information This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding bringing the recently acquired Hammerdown deposit into commercial production in H2/26; ramping up Pine Cove to full production; statements relating to Hammerdown's on-island processing, hauling, sorting and tailing facilities; advancing Queensway toward production in H2/27; commissioning of a sorter in H2/26; future exploration programs at Hammerdown and the timing and focus thereof; and continuing focused exploration at Queensway to grow resources and support future expansions. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.Non-GAAP Financial MeasuresThe Company has included certain non-GAAP financial measures in this press release. These financial measures are not defined under International Financial Reporting Standards ("IFRS") and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.All-in Sustaining CostAll in sustaining cost is a non-GAAP financial measure calculated based on guidance published by the World Gold Council ("WGC"). The WGC is a market development organization for the gold industry and is an association whose membership comprises leading gold mining companies. Although the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these metrics. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company.All-in sustaining cost includes both operating and capital costs required to sustain gold production on an ongoing basis. Sustaining operating costs represent expenditures expected to be incurred at the Project that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.Cash Costs Cash Costs are reflective of the cost of production. Cash Costs reported in the MRE include mining costs, processing and water treatment costs, general and administrative costs of the mine, refining and transportation costs, silver revenue credits and royalties.Free Cash FlowFree Cash Flows are revenues net of operating costs, royalties, working capital adjustments, capital expenditures and cash taxes. The Company believes that this measure is useful to readers in assessing the Company's ability to generate cash flows from Hammerdown.Table 7: Hammerdown Gold Project: Mine Plan Summary.PRODUCTIONYR1YR2YR3YR4YR5YR6YR7YR8YR9YR10YR11YR12YR13YR14TotalUnits2026202720282029203020312032203320342035203620372038
2039Mill feed production tonnage 3,159 k t 256 256 256 256 256 256 256 256 256 256 256 256 91 - Mill feed head grades, Au 2.89 g/t 3.11 4.92 3.92 2.68 1.87 2.25 3.27 4.85 2.75 1.94 1.92 1.68 1.75 -Ounce Production 251,287 oz22,29 35,288 28,080 19,18 12,6615,59 23,322 34,474 18,557 12,252 13,068 12,028 4,476 -Commodity price, Au 3,656 US$/oz 4,132 4,000 3,775 3,600 3,600 3,475 3,475 3,475 3,475 3,475 3,475 3,475 3,475 -Gross Revenue - US$ 918.6 MUS$ 92.1 141.1 106.0 69.0 45.6 54.2 81.0 119.8 64.5 42.6 45.4 41.8 15.6 -Exchange Rate 1.39 CA$:US$ 1.39 1.39 1.39 1.39 1.39 1.39 1.39 1.39 1.39 1.39 1.39 -- -Gross Revenue - CA$ 1,276.8 MCA$ 128.0 196.2 147.3 96.0 63.4 75.3 112.6 166.5 89.6 59.2 63.1 58.1 21.6 - Selling Costs 7.0 MCA$ 0.6 1.0 0.8 0.5 0.4 0.4 0.6 1.0 0.5 0.3 0.4 0.3 0.1 - Net Smelter Return 1,269.8 MCA$ 127.4 195.2 146.5 95.4 63.0 74.9 112.0 165.5 89.1 58.8 62.7 57.7 21.5 -Royalites 17.4 MCA$ 1.3 5.1 1.5 1.0 0.6 0.8 1.1 1.7 0.6 0.1 1.3 1.7 0.6 -Net Revenue 1,252.4 MCA$ 126.1 190.1 145.1 94.5 62.4 74.1 110.8 163.9 88.5 58.7 61.4 56.0 20.8 -Operating Costs 725.9 MCA$ 66.0 77.4 71.0 60.2 48.7 61.4 71.6 63.9 54.2 52.7 48.1 35.3 15.4 - Sustaining Capital Costs (incl. Contingency) 97.7 MCA$ 5.6 0.3 10.5 23.2 34.1 19.9 0.4 -3.7 - - ---Capital Costs (incl. Contingency) 24.3 MCA$ 24.3 - - ---------- -Other Costs 18.0 MCA$ 1.3 (0.1)(0.5)(0.5)1.4 1.2 (0.2)0.6 0.4 6.5 0.2 0.2 0.2 7.2 Taxes 143.2 MCA$ 4.8 41.5 26.7 8.3 --9.1 37.4 10.7 - 2.1 6.4 1.2 (5.0)Cash flow resultsPre-tax cash flow 386.5 MCA$ 28.8 112.5 64.0 11.7 (21.9)(8.4)39.1 99.3 30.1 (0.5)13.1 20.5 5.2 (7.2)Cumulative Pre-Tax Cash Flow MCA$ 28.8 141.3 205.3 217.0 195.1 186.8 225.9 325.2 355.3 354.9 368.0 388.5 393.7 386.5 After-tax cash flow 243.3 MCA$ 24.0 71.0 37.3 3.4 (21.9)(8.4)30.0 61.9 19.4 (0.5)11.0 14.1 4.0 (2.2)Cumulative After-Tax Cash Flow MCA$ 24.0 95.0 132.3 135.7 113.8 105.4 135.4 197.4 216.8 216.4 227.4 241.5 245.5 243.3  To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285504
Original: New Found Gold Announces Preliminary Economic Assessment and Updated Mineral Resource Estimate for the Hammerdown Gold Project

New Found Gold (NFGC) confirms near-surface continuity with high-grade Keats Zone results
https://www.msn.com/en-us/money/markets/new-found-gold-nfgc-confirms-near-surface-continuity-with-high-grade-keats-zone-results/ar-AA1W9EUO?ocid=BingNewsVerp

Upgraded the I-hub app on my phone and now not able to post or reply from my phone.
Posting from a desktop. Anyway, that's why I am not posting much for now.

Good points.
Thanks for your reply.
I got a little sideways there for a minute. 
I trimmed from a strength, but obviously no where near a double.  Maybe I can be patient for  the rest of those shares to at least double.  Then I can make my own "free shares" as you mentioned.  Emotion can be destructive in investing.   Maybe not in this case.  The money is still working in companies with maybe as much or more upside.  I may not post over there for a while.

Nothing wrong with trimming positions and spreading the money around. That works quite well. I have 10 positions right now and 9 of them are in gold,copper,silver
when or if one positions makes great gains I trim and expand my portfolio. That is a good way to get "free shares". You take your money out and keep the shares that are left.

When gold and silver took their first big dive 2 or 3 weeks ago, I went all in on gold stocks.  I have 5 or 6 favorites right now.  This is a gold bull market.  I'm trying to build for retirement.   Not there yet. But gold can get me there.

Today I trimmed some at the other one we know about.  Don't get me wrong, i still like that one.  It is still my 3rd largest position.  I think it has a great year ahead and great years after that.  But so do a lot of other gold companies.  NFGC, BTG.  I'm a big believer in Seabridge gold.   2026 should be the year of Big things for Seabridge Gold.  Honestly. Lahonten Gold is setup for a big year as well.  Current Market Cap of $65 million after a 20% move today.  Lahontan Gold is sitting on three gold projects.  The Santa Fe project has three mine pits (mineral resources) by itself.  I bet they get bought out at some point, but if they don't.  If Lahontan Gold goes into production in 2027 they might just be  a Billion $ company by 2029 when West Santa Fe could potentially come online.

Anyway.  I said a lot.  I'm still working a great job.  At some point I will get back to the dividends.Right now, I want to focus on Gold stocks still under value for whatever reason.  Gold stocks that can double or more.  


As for the other one.  Let's focus on the good things.  They will have a great year or two or three or more.  At the same time I have to weigh everything and try to make the best decisions for myself and my family.   Bottom line - Nobody is giving me any free shares.  

I added a few yesterday along with another one you are familiar with that announced commercial production in January.

Added more here today.

New Found Gold confirms surface-accessible high-grade mineralization
New Found Gold (TSX-V: NFG; NYSE-A: NFGC) reported additional grade control drilling results from the Keats zone excavation in the AFZ Core […]
https://www.canadianminingjournal.com/news/new-found-gold-confirms-surface-accessible-high-grade-mineralization/

High Grade.  Near surface. 
Perfect for open pit.
Perfect for a phase 1 start-up. 

Nice results.

New Found Gold Continues to Confirm Continuity of At-Surface High-Grade Gold at Keats Zone, Queensway Gold Project

Vancouver, BC, February 2, 2026 – New Found Gold Corp. (“New Found Gold” or the “Company”)
(TSX-V: NFG, NYSE-A: NFGC) is pleased to announce additional results from grade control drilling at
the Keats zone (“Keats”) excavation in the AFZ Core (“AFZC”), completed as part of the Company’s
2025 drill program on its 100%-owned Queensway Gold Project (“Queensway” or the “Project”) in
Newfoundland and Labrador, Canada.

https://wp-newfoundgold-2025.s3.ca-central-1.amazonaws.com/media/2026/02/20260202_Keats-GC-Part-2_Final-1-1.pdf

Weekly Chart
https://schrts.co/jAhJbiBs

New Found Gold Delivers Key Milestone at Queensway Gold Project: Enters into Phase 1 EPCM ContractJanuary 26, 2026 10:00 PM
NewsfileVancouver, British Columbia--(Newsfile Corp. - January 26, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce key advancements at its 100%-owned Queensway Gold Project ("Queensway" or the "Project") in Newfoundland and Labrador, Canada, which includes entering into a Phase I engineering, procurement and construction management services ("EPCM") contract.Highlights of Key Project Advancements:EPCM Scope: The Company has entered into an EPCM contract with WSP Canada Inc., a world-leading professional services and engineering consulting firm, for Queensway Phase 1 project development as outlined in the Company's 2025 preliminary economic assessment ("PEA")1. The scope of work includes Queensway site development and detailed engineering for an offsite milling facility.Offsite Mill Selection: The Company owns the fully permitted Pine Cove Mill ("Pine Cove") and Nugget Pond Hydrometallurgical Gold Plant, both located in central Newfoundland. EPCM work will include upgrading and expanding Pine Cove for Queensway Phase 1 to benefit from the synergies of processing both Hammerdown and Queensway Phase 1 feed from a single facility.Environmental Assessment: The Company has substantially completed its environmental baseline work at Queensway and plans to submit an Environmental Registration ("ER") to the Newfoundland and Labrador ("NL") Department of Environment, Conservation and Climate Change in late Q1/26. The ER serves to initiate the environmental assessment ("EA") process for the Project, as per the NL Environmental Protection Act. Updates on the status of the EA process will be provided when available.Project Finance: As previously announced, the Company has engaged Cutfield Freeman & Co. Ltd., an independent global mining finance advisory firm, to act as its project finance advisor with the objective of selecting the optimal financing package for the initial capital expenditure required to fund Queensway Phase 1 production2.Technical Report: the Company plans to file an updated Technical Report, which will include an updated mineral resource estimate, in mid-2026.Timeline: The Queensway Phase 1 project finance process is ongoing and EPCM work is underway with the objective of achieving first gold pour from Queensway Phase I in H2/27, pending receipt of all required permits.Keith Boyle, CEO of New Found Gold stated "Commencing EPCM work is a key milestone in advancing Queensway. We believe our rapid timeline from initial mineral resource in early 2025 to a planned first gold pour in late 2027 is supported by a unique combination of factors, namely: significant drilling and technical work completed on a deposit with an at-surface, high-grade core; ownership of the recently acquired Pine Cove operation, equipped with a fully permitted milling and tailings facilities; and being located in a mining-positive region. Newfoundland and Labrador is a jurisdiction ranked in the top 10 globally in the Fraser Institute's 2024 Annual Survey of Mining Companies and offers excellent access, infrastructure and a skilled labour force. Having executed on a number of key steps in 2025 and building a strong technical and operating team over the past year has put the Company in an excellent position to accelerate the development of Queensway in a strong gold price environment."Qualified PersonThe scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under National Instrument 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release. About New Found Gold Corp. New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and owns the Hammerdown Operation, Pine Cove Operation and Nugget Pond Hydrometallurgical Gold Plant. The Company is currently focused on advancing Queensway to production and bringing the Hammerdown Operation into steady-state gold production.In July 2025, the Company completed a PEA at Queensway (see New Found Gold news release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.New Found Gold has a new board of directors and management team and a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp. ContactFor further information on New Found Gold, please visit the Company's website at www.newfoundgold.ca, contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact: Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp, https://x.com/newfoundgold Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement CautionsThis press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including relating to WSP's engagement to provide EPCM services for Queensway Phase 1 project development; the expected start of the EPCM work in Q1/26; the planned work on Pine Cove for Queensway Phase 1; the expected submission of an ER to the NL Department of Environment, Conservation and Climate Change in late Q1/26; the future updates on the status of the EA process; the anticipated filing of an updated Queensway technical report; and the expected first gold pour from Queensway Phase I, pending receipt of all required permits. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts, they are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "interpreted", "intends", "estimates", "projects", "aims", "suggests", "indicate", "often", "target", "future", "likely", "pending", "potential", "encouraging", "goal", "objective", "prospective", "possibly", "preliminary", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company's ability to complete exploration and drilling programs as expected, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration results and the results of the metallurgical testing program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's Annual Information Form and Management's Discussion and Analysis, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects.1 for additional information see the Company's news release dated July 21, 2025.
2 for additional information see the Company's news release dated November 28, 2025.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/281691
Original: New Found Gold Delivers Key Milestone at Queensway Gold Project: Enters into Phase 1 EPCM Contract

Looked at GDXJ this morning. 
I see New Found Gold Canada stock listed on the GDXJ as NFG CN  with a 0.15 percent weight.  Not sure why NFGC from NYSE was not the listing for New Found Gold.

NFG CN
New Found Gold Corp
0.15
BBG00JFFSNM3

I appreciate the knowledge and information I have learned from you.

I wanted to diversify some with the money I put to work today.  I added to some gold positions but I also wanted to open some oil and gas and energy positions.  All pay dividends or distributions.

I started to add some more here today but have a new starter position in another that I wanted to add to. I already have a position built here. I do like this one a lot though..... just spreading the $ around a little.

Watching this one to add more.

Thanks for sharing.  
I really like the " No BS" way Keith communicates.   

He answered every question in a measured and informative way staying focused on what he wanted to highlight.  Even on the buy-out question.  

From discovery to development: New Found Gold sharpens Queensway focus

I saw that and was going to post it here, but you beat me to it. Looks very good.
New Found Gold Commences 2026 Queensway Drill Program Announces K2 Zone Infill Results
Date
2026-01-21 07:06:31

https://menafn.com/1110630017/New-Found-Gold-Commences-2026-Queensway-Drill-Program-Announces-K2-Zone-Infill-Results

Nice email this morning. View this email in your browser.

New Found Gold Commences 2026 Queensway Drill Program; Announces K2 Zone Infill Results(TSX-V: NFG | NYSE-A: NFGC)Vancouver, BC, January 21, 2026 – New Found Gold Corp. (“New Found Gold” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the 2026 drill program is underway at its 100%-owned Queensway Gold Project (“Queensway” or the “Project”) in Newfoundland and Labrador, Canada and reports further results from 2025 infill drilling at the K2 zone (“K2”) in the AFZ Core.
Highlights include:
5.22 g/t Au1 over 14.90 m2 from 58.45 m (NFGC-25-2547)3.42 g/t Au over 19.85 m from 100.80 m (NFGC-25-2555)5.29 g/t Au over 11.85 m from 34.00 m (NFGC-25-2535)2.75 g/t Au over 20.60 m from 108.90 m (NFGC-25-2504)8.51 g/t Au over 6.65 m from 125.45 m (NFGC-25-2555)1.71 g/t Au over 30.90 m from 116.25 m (NFGC-25-2547)2.29 g/t Au over 21.65 m from 113.80 m (NFGC-25-2556)18.9 g/t Au over 2.40 m from 79.90 m (NFGC-25-2509)2.10 g/t Au over 12.00 m from 23.50 m (NFGC-25-2596)11.5 g/t Au over 2.05 m from 120.90 m (NFGC-25-2596)1.47 g/t Au over 11.55 m from 26.30 m (NFGC-25-2544)Melissa Render, President of New Found Gold stated: “Following a successful 2025 program, we have recommenced drilling at Queensway with four rigs currently active. The 2026 program is continuing resource conversion drilling at AFZ Core to support the mine plan laid out in our 2025 preliminary economic assessment, as well as advancing key exploration targets.”
“The K2 infill drill results reported in this release demonstrate consistent and continuous gold mineralization, with results closely aligning with the initial mineral resource block model.We continue to intersect gold mineralization in multiple areas beyond the initial mineral resource block model; discovery of these additional mineralized zones highlights the potential for resource growth within the immediate AFZ Core area.” continued Ms. Render.

https://newfoundgold.ca/new-found-gold-commences-2026-queensway-drill-prog-13346/

New Found Gold

Posted to YouTube today.  Recording from a few days ago on January 9th.Quick summary of 2025 and quick focus on expected high points in 2026.

New Found Gold Celebrates Milestone Year: Transformation to an Emerging Canadian Gold Producer
(TSX-V: NFG | NYSE-A: NFGC)

TORONTO, Canada – January 7, 2026 – New Found Gold Corp. (“New Found Gold” or the “Company”) (TSXV: NFG | NYSE American: NFGC) is pleased to highlight a transformational 2025 in which the Company has evolved from an early-stage exploration company to an emerging Canadian gold producer with a multi-asset portfolio focused on a top-tier mining jurisdiction, Newfoundland and Labrador, Canada.

Over the past year, New Found Gold has delivered multiple significant milestones including:

New board of directors and management team: Led by Chairman Paul Andre Huet and Chief Executive Officer, Keith Boyle, the Company has a new and highly experienced board of directors, along with a new management team of mine builders and operators to complement its existing exploration strength.

Financings: Completion of a C$63M bought deal financing and C$20M private placement, strengthening New Found Gold’s balance sheet and confirming support from cornerstone investor Eric Sprott and institutional investors.

Initial Mineral Resource Estimate (“MRE”): Publication of an MRE for its 100% owned Queensway Gold Project (“Queensway“), outlining 18.0 million tonnes (“Mt”) grading 2.40 grams per tonne of gold (“g/t Au”) of gold for 1.39 million ounces (“Moz”) (indicated), with another 10.7 Mt grading 1.77 g/t Au for 0.61 Moz (inferred), firmly establishing a solid mineral resource base¹.

Preliminary Economic Assessment (“PEA”): Publication of a low-cost, high-margin PEA demonstrating solid economics of C$743M after-tax NPV5% and 56.3% after-tax IRR, at a base case gold price of US$2,500/oz with significant leverage to the gold price. These base case values are supported by total gold production of 1.5 Moz of gold over a 15 year mine life for a life of mine (“LOM”) all-in sustaining cost (“AISC”) of US$1,256/oz².

Strategic Acquisitions: Acquisition of Maritime Resources Corp. (“Maritime”), creating an emerging Canadian gold producer, and the purchase of highly prospective claims, consolidating a district-scale land package around Queensway.

Hammerdown and Pine Cove Operations: With the successful acquisition of Maritime, the Company is focused on bringing the newly acquired Hammerdown and Pine Cove Operations (“Hammerdown” and “Pine Cove”, respectively) into steady state production.

Queensway Advancement: Completed 2025 work program, including over 74,000 metres (“m”) of diamond drilling with a primary focus on resource definition and pre-development work, and a secondary focus on exploration, with high-grade discoveries such as the Dropkick zone (“Dropkick”) underscoring the camp-scale potential of the district.

Queensway Project Finance: Engaged Cutfield Freeman & Co. Ltd. (“CF&Co”), an independent global mining finance advisory firm, to act as a project finance advisor with the objective of selecting the optimal financing package for the initial capital expenditure required to fund Queensway Phase 1 production.

“2025 was a transformational year for New Found Gold, as we began the year as an early-stage exploration company and ended as an emerging Canadian gold producer with a growing, multi-asset and multi-stage portfolio in Newfoundland and Labrador,” said Keith Boyle, Chief Executive Officer of New Found Gold. “We delivered both the initial MRE and a PEA at Queensway, strengthened our balance sheet, and completed two meaningful strategic acquisitions - adding near-term production and cash flow via Hammerdown and securing fully permitted processing infrastructure.

These achievements were made possible by the strength of our new management team and board of directors, support from our shareholders and local stakeholders who continue to back us as we execute on our strategic growth plans, and the hard work and dedication of our employees and contractors.”

“As we enter 2026, our focus is clear: ramp up Hammerdown safely and efficiently, advance Queensway through engineering, permitting, and project finance toward a targeted 2027 start-up, and continue disciplined, high-impact exploration across the district - building on our success at targets like Dropkick - to unlock the full camp-scale potential of this emerging Canadian gold camp.”

From Early-Stage Explorer to Emerging Gold Producer

The strategic acquisition of Maritime formally marks New Found Gold’s transformation from an exploration company into an emerging multi-asset gold producer. Following this transaction, New Found Gold now controls Queensway, a high-grade, 100%-owned project with a recently completed MRE and PEA that demonstrates a phased, low-capital path to production and Hammerdown, an emerging gold producer in central Newfoundland, targeted to ramp up to commercial production through 2026, with a fully permitted mill and tailings at Pine Cove, as well as a Hydrometallurgical Gold Plant at Nugget Pond, which provides existing processing infrastructure and significant regional synergies.

With Hammerdown moving toward steady-state production and Queensway Phase 1 production targeted for H2/27, Queensway and Hammerdown continue to offer significant exploration upside to bolster each project’s economics within a strong gold price environment.

New Board and Management Team

In parallel with its portfolio growth, New Found Gold has made significant strides at the corporate level, strengthening its governance and leadership team in 2025. During the year the board of directors was refreshed under the leadership of Paul Andre Huet as Chairman. It now includes seasoned mining executives and capital markets specialists with deep experience in building, operating and financing mines globally, including: William Hayden, Chad Williams, Tamara Brown and Allen Palmiere, as well as Dr. Andrew Furey, the former Premier of Newfoundland and Labrador, and the Company’s Chief Executive Officer, Keith Boyle.

New Found Gold’s management team was also rebuilt with the objective of executing on the Company’s strategy to rapidly advance Queensway to development and production. Under the leadership of Keith Boyle (Chief Executive Officer) and Melissa Render (President), the following executives were appointed to the leadership team in 2025: Hashim Ahmed (Chief Financial Officer), Robert Assabgui, (Chief Operating Officer), Fiona Childe (VP, Communications and Corporate Development), Jared Sauders (VP, Sustainability) and Jelena Novikov Fried (General Counsel and Corporate Secretary).

Advancing Queensway to Development

Queensway remains the cornerstone of New Found Gold’s growth strategy and continued to deliver in 2025, achieving several major milestones. The initial MRE published in 2025 confirmed Queensway’s resource potential, outlining 18.0 Mt grading 2.40 g/t of gold for 1.39 Moz (indicated), with another 10.7 Mt grading 1.77 g/t gold for 0.61 Moz (inferred). This initial resource sits within less than 5% of the 110 kilometre (‘km”) long strike extent of the two major structures controlling gold mineralization, where numerous additional gold targets have been identified, demonstrating potential for expansion (see the New Found Gold press release dated March 24, 2025).

This MRE served as the stepping stone, forming the basis for the positive Queensway PEA published in mid-2025, which outlined phased development with low initial capital of approximately C$155M for Phase 1 and a robust production profile, with anticipated average annual production of over 70,000 ounces of gold in Phase 1 and more than 170,000 ounces of gold per year in Phase 2 and 3 Years 5 to 9 (see the New Found Gold press release dated July 21, 2025).

With attractive baseline economics confirmed, New Found Gold has completed its 2025 work program, which included an approximately 74,000 m diamond drill program and a continuation of the excavation of high-grade, near-surface portions of Queensway. Approximately 75% of the drilling focused on the AFZ Core area and the remaining 25% focused on exploration targets outside the MRE area.

To date, approximately 45% of the results from the 2025 program have been released and additional results will be released as they become available (see the New Found Gold press releases dated July 9, 2025, September 25, 2025, October 15, 2025, October 30, 2025, November 19, 2025, December 1, 2025 and December 11, 2025). Excavation, mapping and channel sampling were competed at the Iceberg and Lotto zones, with Iceberg channel sample results released and Lotto results pending (see the New Found Gold press release dated September 25, 2025).

Ongoing work aimed at the rapid advancement of phased development at Queensway includes environmental baseline work, trade-off studies and further engineering studies.

Collectively, the milestones achieved in 2025 advance Queensway from a standout exploration opportunity to a de-risked development project with a clear, financeable path to production.

Camp-Scale Exploration Upside

Exploration remains an important part of the growth strategy for Queensway as it advances toward development, with exploration success outside the AFZ Core demonstrating the scale and quality of the broader district. During 2025, the Company completed approximately 25% of its drilling on exploration outside the AFZ Core.

This work included drill testing at the highly prospective Dropkick and Pistachio zones, as well as the newly discovered Blue Jay zone. High-grade gold was discovered at Dropkick in late 2024 within the AFZ Peripheral area and 2025 drilling has extended the mineralized footprint to approximately 815 m along strike and 285 m down dip, with multiple high-grade intercepts both west and east of the Appleton Fault Zone, further confirming the camp scale potential of New Found Gold’s substantial Queensway landholdings (see the New Found Gold press release dated October 30, 2025).

A regional exploration program was completed at Queensway South, up to 64 km south of AFZ Core. In this area, we continue to develop earlier-stage targets along the Appleton Fault Zone, the same structure that controls gold mineralization AFZ Core.

The Queensway land package now totals 230,225 hectares, an increase of 31% from 2024, as a result of the successful completion of the acquisition of a 100% interest in certain mineral claims in central Newfoundland previously held by Exploits Discovery Corp.

Looking Ahead

Moving forward, New Found Gold remains focused on executing on the following key priorities in 2026:

Ramping up Hammerdown to steady-state gold production and leveraging its on-island processing and tailings facilities.

Advancing Queensway through engineering, permitting, and project finance toward a Phase 1 construction decision in late 2026, targeting first production in H2/27.

Continuing focused exploration at Queensway, including adjacent to AFZ Core, Dropkick, and newly acquired ground, to grow resources and support future expansions.

https://mailchi.mp/newfoundgold/new-found-gold-completes-queensway-gold-project-expansion-grants-restricted-share-units-12897406?e=2f3758c945

Weekly Chart
https://schrts.co/RzJmvgEZ

" I should have waited a few days" There is never any way to foretell the short term. Hammerdown will finance Queensway, but IMHO it will not be in the conventional way. Net cash flow from Hammerdown (will help) by its self would take too long. Hammerdown will be leveraged to get better terms for financing on what Hammerdown the cash flow wont handle. (Cash flow positive mines are more attractive than exploration) This will allow speedy development. Again this is only my humble opinion.

Great job!  I should have waited a few days.But I'm happy to own the shares I have.NFGC definitely looks like a winner ready to happen in this gold market.
I just hope there is enough gold production from the Hammerdown Gold Project to finance Queensway and Hammerdown.

I bought some more nfgc and ske on todays dip.

Just thinking.
NFGC current market cap may be getting close to the cutoff to be added to some of these gold ETF funds.
For example SILJ  Amplify Junior Silver Miners ETF has a number of companies the same size or smaller than NFGC.  And, because New Found Gold is already on NYSE and backed by one of the biggest names in the precious metals sector there is no doubt as a new gold producer they will be added an ETF or two or three very soon.  

For an example look at Seabridge Gold,  SA on the NYSE.  Seabridge Gold was recently added to a number of ETFs.  Including  the GDX, GDXJ, SILJ, SGDM, SGDJ.  Increased price and volume after being added to these ETFs

Pretty good video here from December 16th.

I took a decent sized starter position in New Found Gold Corp today.  What impressed me previously about Queensway project was all of the visible gold seen at surface. 

Now that they own gold production assets that can basically cashflow Phase 1 at Queensway.
NFGC already trades on NYSE.  It is positioned to advance quickly going forward maybe even in 2026, but definitely in 2027 and 2028.  
Not to mention  Queensway has 100 kilometers of strike.  Queensway can feed the existing permitted mill with a hub and spoke model starting in 2027.

To each their own, but I personally would not invest in a position that I had such low confidence in as to restrict to 3%. There is risk in any investment, but good Due diligence can work wonders.