New Found Gold Provides Hammerdown Update

About this update from New Found Gold Corp

Vancouver, British Columbia--(Newsfile Corp. - June 11, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to provide an update on New Found Gold's 100% owned Hammerdown Gold Project ("Hammerdown" or the "Project"), currently advancing towards commercial production in Newfoundland and Labrador, Canada. Hammerdown, which includes the Hammerdown deposit and the Pine Cove Mill ("Pine Cove" or the "Mill") was acquired by the Company as a strategic acquisition of the permitted Mill to fast-track production at its 100% owned flagship Queensway Gold Project ("Queensway"; see the New Found Gold press release dated November 13, 2025). "We continue to make steady progress towards our objective of achieving commercial production at Hammerdown in H2/26, where we anticipate a run rate of 20,000 to 25,000 ounces of gold produced per year at an all-in sustaining cost of approximately US$2,500 per ounce, in line with our recently completed preliminary economic assessment,1,2," stated Keith Boyle, CEO of New Found Gold. "Since completing the Hammerdown acquisition, we have put the people and processes in place and are continuing to commission the necessary infrastructure. Our achievements to date are a result of the hard work and dedication of our Hammerdown team, under the guidance of COO Robert Assabgui, Mill Manager Dwight Goudie and new General Manager, Mines, Mark Ross. I would like to welcome Mark; he has made a significant impact in his short time with the Company." The Company has completed key advancements at both the Hammerdown deposit and the Mill. With gold production ramping up the Project remains on track for commercial production in H2/26 (Figures 1, 2 and 3). Key advancements since the acquisition of Hammerdown include: Figure 1. Hammerdown gold bar (left) and gold pour (right). To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/7337/300981_new%20found%201.jpg Hiring and Appointment of Key Personnel The Company is pleased to announce the appointment of Mark Ross, P.Geo. to the position of General Manager, Mines. Mr. Ross, who is based in Springdale, NL, will be responsible for building the infrastructure required to support the Phase I mining plan at t...

View stock analysis, news, and events for New Found Gold Corp