Announcement • Oct 25

+ 1 more update

New Found Gold Corp. Announces Results from Six Diamond Drill Holes Completed At Its Recently Acquired Kingsway Project

New Found Gold Corp. announced the results from six diamond drill holes completed at its recently acquired Kingsway Project that adjoins the northern border of the Queensway Project and is on trend with numerous discoveries made further south along the Appleton Fault Zone. In addition, the Company announced the results from 29 diamond drill holes that were completed as part of a drill program designed to follow up on initial grid drilling results in the Everest area and expand on the Honeypot and Jackpot zones. New Found’s 100%-owned Queensway Project comprises a 1,756 km2 area, accessible via the Trans-Canada Highway, 15km west of Gander, Newfoundland and Labrador. Highlights: 105 g/t Au over 2.10m and 10.4 g/t Au over 4.45m in NFGC-24-2153 was intersected in a follow-up program targeting two historic intervals of high-grade gold which included 5.17 g/t Au over 7.00m in K-23-271 and 4.68 g/t Au over 5.00m in K-23-278, a discovery that has become known as “Pistachio”. These historic intervals at Pistachio are 40m and 65m down plunge of NFGC-24-2153 and are located 150m north of the Big Vein Zone, a previously made discovery by Labrador Gold. These initial results represent some of the most significant gold intercepts drilled to date at Kingsway. Pistachio and Big Vein are situated 5.5km northeast of the Honeypot Zone immediately west of the AFZ, demonstrating that high-grade gold mineralization extends well north of the Queensway Project area. The Pistachio Zone consists of a series of quartz veins containing visible gold hosted by a greenish siltstone unit that is spatially associated with a high-grade gold and stibnite-bearing fault zone. The historic drilling into this area was limited, and the zone remains open down plunge and to depth. Follow-up drilling is ongoing to expand on these initial high-grade intervals and improve understanding of the structural orientations. new found gold corp. Previous exploration drilling by Labrador Gold on Kingsway resulted in seven near-surface gold discoveries occurring over a 7.5km long segment of the AFZ and mostly on the west side. Ongoing exploration drilling is using a combined targeted and systematic approach, involving grid drilling within the prospective corridor on both sides of the AFZ. This strategy has been effective at Queensway, leading to multiple discoveries further south around the Keats Zone. Continued follow-up drilling at Honeypot, a discovery announced on January 10, 2024, has resulted in a 75m expansion of the zone to the east with the intercept of 8.44 g/t Au over 4.10m in NFGC-24-2129. Located a further 75m down-dip, the highlight interval of 5.20 g/t Au over 6.15m in NFGC-24-2119 was also intersected demonstrating lateral continuity of the gold mineralization at depth. The Honeypot high-grade domain plunges steeply to the east and is currently 50m wide and 200m deep and exists within a broader gold mineralized domain that demonstrates good continuity over 170m in strike and 230m down dip. Honeypot is located 1.2km north of Lotto and remains open along strike and to depth. Honeypot is just one of a series of veins found north of Keats that start at the bedrock surface and carries high-grade gold within steeply plunging continuous domains. Other examples of similar zones include Golden Joint, Lotto, Lotto North and Jackpot. At Jackpot, 36.7 g/t Au over 2.00m in NFGC-24-2144 infilled a gap in the high-grade domain just 42m from surface. This interval confirms and further defines the high-grade near surface continuity of the Jackpot Zone. The Company is currently undertaking a 650,000m drill program at Queensway. All drilling recovers HQ core. 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 metre and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades. Technicians saw the core along the defined cutting line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents. New Found has submitted samples for gold determination by fire assay to ALS Canada Ltd. and by photon assay to MSALABS since June 2022. As of February 2024, gold analysis at ALS has been performed by photon assay. ALS and MSA operate under a commercial contract with New Found. Drill core samples are shipped to ALS for sample preparation in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick. ALS is an ISO-17025 accredited laboratory for the fire assay and photon assay methods. Drill core samples are also submitted to MSA in Val-d’Or, Quebec. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is an ISO-17025 accredited laboratory for the photon assay method. At ALS for fire assay, the entire sample is crushed to approximately 70% passing 2mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold identified and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire-assayed, and two splits of the fine fraction (sized less than 106 microns) are fire-assayed. The three assays are combined on a weight-averaged basis. Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for gold. Samples submitted to ALS beginning in February 2024, received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For “routine” samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed into multiple jars and submitted for photon assay. For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis. At MSA, the entire sample is crushed to approximately 70% passing 2mm.

CEO salary percentage	35.80%
CEO tenure	1.3yrs
CEO ownership	0.06%
Management average tenure	1.3yrs
Board average tenure	1.2yrs

Name	Position	Tenure	Compensation	Ownership
Keith Boyle	CEO & Director	1.3yrs	CA$1.19m	0.063% $ 505.2k
Melissa Render	President	1.4yrs	CA$752.02k	0.0035% $ 27.9k
Hashim Ahmed	Chief Financial Officer	less than a year	CA$193.07k	no data
Robert Assabgui	Chief Operating Officer	less than a year	CA$97.50k	0.0088% $ 70.7k
Jelena Fried	General Counsel & Corporate Secretary	less than a year	no data	no data
Fiona Childe	VP of Communications & Corporate Development	1.3yrs	no data	0.010% $ 81.1k
Jared Saunders	Vice President of Sustainability	1.3yrs	no data	0.012% $ 96.1k

Name	Position	Tenure	Compensation	Ownership
Keith Boyle	CEO & Director	1.3yrs	CA$1.19m	0.063% $ 505.2k
Allen Palmiere	Independent Director	less than a year	CA$89.58k	no data
Chad Williams	Independent Director	1.2yrs	CA$383.40k	0.052% $ 420.4k
William Hayden	Lead Independent Director	1.4yrs	CA$541.22k	0.026% $ 209.5k
Tamara Brown	Independent Director	less than a year	CA$209.90k	0.0070% $ 56.2k
Joseph Paul Huet	Independent Chairman of the Board	1.4yrs	CA$3.64m	0.0044% $ 35.6k
Andrew Furey	Independent Director	less than a year	CA$205.16k	no data

Data	Last Updated (UTC time)
Company Analysis	2026/05/07 17:54
End of Day Share Price	2026/05/07 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Matthew Murphy	BMO Capital Markets Equity Research
Brian Quast	BMO Capital Markets Equity Research
Andrew Mikitchook	BMO Capital Markets Equity Research

New Found Gold Management

Management criteria checks 1/4

Key information

Recent management updates

CEO & Director recently bought US$147k worth of stock

Chief Operating Officer recently bought US$73k worth of stock

New Found Gold Corp., Annual General Meeting, Jun 25, 2026

Independent Director recently bought US$88k worth of stock

High number of new and inexperienced directors

New Found Gold Corp. Announces Executive and Board Changes, Effective September 15, 2025

Recent updates

New Found Gold Corp. Confirms Continuity of Afz Core and Intersects New Mineralization At Depth At Queensway Gold Project

CEO & Director recently bought US$147k worth of stock

New Found Gold Corp. has completed a Follow-on Equity Offering in the amount of CAD 100.048 million.

Chief Operating Officer recently bought US$73k worth of stock

New Found Gold Corp. has filed a Follow-on Equity Offering in the amount of CAD 100.048 million.

New Found Gold Corp., Annual General Meeting, Jun 25, 2026

Independent Director recently bought US$88k worth of stock

Forecast breakeven date pushed back to 2027

The Birth of a High-Grade Canadian Gold Powerhouse

Now 27% undervalued after recent price drop

Maritime Gold Corp. Announces Update on the Hammerdown Gold Project, Newfoundland

Now 27% undervalued

Forecast breakeven date moved forward to 2026

New Found Gold Corp. Commences 2026 Queensway Drill Program

New major risk - Shareholder dilution

Now 22% overvalued after recent price rise

Now 21% overvalued after recent price rise

New major risk - Shareholder dilution

New major risk - Shareholder dilution

New minor risk - Share price stability

Forecast to breakeven in 2027

Price target decreased by 44% to US$5.00

High number of new and inexperienced directors

New Found Gold Corp. (TSXV:NFG) completed the acquisition of remaining 99.91646% stake in Maritime Resources Corp. (TSXV:MAE) from Dundee Resources Limited, Eric Sprott, SCP Resource Finance LP, Research Division and others.

New Found Gold Corp. Confirms At-Surface High-Grade Core in Iceberg Excavation Channel Sampling Program

New Found Gold Corp. Announces Executive and Board Changes, Effective September 15, 2025

New Found Gold Corp. (TSXV:NFG) signed a letter of intent to acquire remaining 99.9% stake in Maritime Resources Corp. (TSXV:MAE) from Dundee Resources Limited, Eric Sprott and others for approximately CAD 240 million.

New Found Gold Corp. announced that it has received CAD 20.000001 million in funding from 2176423 Ontario Ltd.

New Found Gold Corp. Appoints Tamara Brown to its Board of Directors

New Found Gold Announces Temporary Suspension of Heavy Equipment Exploration Activities on the Queensway Gold Project in Response to Forest Fire Risk in the Region

New major risk - Financial position

Forecast to breakeven in 2027

New Found Gold Corp. Announces the First Drill Results from the 2025 Work Program At Its 100%-Owned Queensway Gold Project in Newfoundland and Labrador, Canada

New major risk - Shareholder dilution

New Found Gold Corp. Expands Queensway Gold Project 2025 Work Program

New minor risk - Shareholder dilution

New Found Gold Corp., Annual General Meeting, Aug 20, 2025

Chief Executive Officer recently bought US$119k worth of stock

New Found Gold Corp. has completed a Follow-on Equity Offering in the amount of CAD 56.1291 million.

New Found Gold Corp. announced that it expects to receive CAD 20.000001 million in funding

New Found Gold Corp. Continues to Expand the Dropkick Zone at the Queensway Gold Project

New Found Gold Corp. Provides Queensway Gold Project Overview and Plans

High number of new and inexperienced directors

New minor risk - Share price stability

New Found Gold Corp. Announces Initial Mineral Resource Estimate

Price target decreased by 41% to US$5.00

New Found Gold Corp. Announces Board of Director Changes

New Found Gold Corp. Announces Executive Changes

New Found Gold Corp. Announces CEO Changes

High number of new and inexperienced directors

Less than half of directors are independent

New Found Gold Corp. Announces Board Appointments

New major risk - Financial position

New Found Gold Corp. Announces Initiation of Work Towards A Maiden Resource Estimate and Preliminary Economic Assessment for the Queensway Project

New Found Gold Corp Reports Positive Phase II Metallurgical Test Results Demonstrating 97% Gold Extraction at Iceberg and Iceberg East

New Found Gold Corp. Announces Results from Six Diamond Drill Holes Completed At Its Recently Acquired Kingsway Project

New Found Gold Corp. Announces Results of the First Phase of Channel Samples from the Keats Trench and an Update on the Iceberg Trench At the Queensway Project

New Found Gold Corp., Annual General Meeting, Dec 12, 2024

New Found Gold Corp. Intercepts Nine New Gold Zones Spanning 3km in Strike, Doubles Known Vertical Extent of Gold Mineralization to 820m Depth At Queensway

New Found Gold Corp. (TSXV:NFG) completed the acquisition of Kingsway Project from Labrador Gold Corp. (TSXV:LAB) for CAD 26.7 million.

New Found Gold Corp. Announces the Initiation of Surface Trenching At the Iceberg Zone At Its Queensway Project

New Found Gold Corp. Provides Deep Drilling Update on Its 100% Owned Queensway Project ("Queensway"), Located on the Trans-Canada Highway 15Km West of Gander, Newfoundland

New Found and Palisades Goldcorp Ltd Announces Settlement of Litigation With ThreeD Capital

New Found Intercepts 14.8 g/t Au over 5m At Honeypot & 43.1 g/t Au over 2m At Jackpot

New Found Gold Corp. Intercepts 17.8 G/T Au Over 13.5m, 27.7 G/T Au Over 4.6m and 1.23 G/T Au Over47.2m at K2 Zone

New Found Gold Corp. Reports Positive Phase 1 Metallurgical Test Results Demonstrating 90% to 96% Gold Extraction At Queensway

New Found Gold Corp. Identifies Continuation of the Keats-Baseline Fault Zone with 187 g/t Au over 2.55M At “Iceberg Alley”

New major risk - Revenue and earnings growth

New Found Gold Corp. Announces Results from 61 Diamond Drill Holes At Iceberg-Iceberg East, A High-Grade Zone Located 300M Northeast of Keats Along the Highly Prospective Appleton Fault Zone