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New Found Gold Celebrates Milestone Year: Transformation to an Emerging Canadian Gold Producer
Toronto, Ontario--(Newsfile Corp. - January 7, 2026) - New Found Gold Corp. (TSXV: NFG) (NYS...
About this update from New Found Gold Corp
[{"type":"text","content":"New Found Gold Celebrates Milestone Year: Transformation to an Emerging Canadian Gold ProducerToronto, Ontario--(Newsfile Corp. - January 7, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (\"New Found Gold\" or the \"Company\") 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...