Golden Opportunities
Ahead

Advancing the Queensway Gold Project

70,000m drill
campaign planned for 2025
~ $12 million in
cash and marketable securities*
Supportive Large
Strategic Shareholders

*As of March 2025.

About Us

New Found Gold Corp.

New Found Gold holds a 100% interest in Queensway in Newfoundland and Labrador, a Tier 1 jurisdiction with excellent infrastructure and a skilled local workforce. With over 600,000 metres of drilling completed since 2020, the Company has outlined multiple near-surface, high-grade gold discoveries over a 22 km strike extent. Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential of the 175,600 hectare Project that covers a 110 km strike extent along two prospective fault zones.

Key Advancements

  • The Company has completed an initial mineral resource estimates and comissioned a preliminary economic assessment (PEA), which is currently underway.
  • Doubled vertical depth extent of Au system with deep drilling.
  • Keats Main and Iceberg Zones uncovered through trenching with channel sampling completed at Keats and planned for Iceberg in Q2/25.
  • Positive metallurgical test results for Keats, Iceberg, Lotto and Golden Joint.

Upcoming Milestones

  • PEA: Preliminary Economic Assessment underway.
  • 2025 Work Program: Drilling commenced early May 2025. Primary focus on resource conversion (infill, expansion, extensions). Secondary focus on exploration (discovery of additional major deposits along 110 km strike extent of the Project). Continuing excavation and channel sampling programs.
  • Bulk Sample: Planning underway to confirm grade continuity and validate resource model.
  • Metallurgy: Additional test work is ongoing.
  • Permitting and Environmental Baseline Studies: Work is ongoing to support future studies and permit applications.

~ $12 million in cash and marketable securities*

New Found is well funded to pursue its exploration programs.

*As of March 31, 2025.

Drilling Highlights

High-Grade
Interval
Zone Date
Released
1 105 g/t Au over 27.05m1 Iceberg Jun 5, 2023
2 49.7 g/t Au over 29.90m1 Iceberg Mar 13, 2023
3 42.6 g/t Au over 32.00m3 Keats West Nov 28, 2022
4 69.2 g/t Au over 14.15m3 Golden Joint March 24, 2022
5 430 g/t Au over 5.25m2 Golden Joint Jun 30, 2021
6 150 g/t Au over 11.50m1 Lotto Main Jun 23, 2021
7 106 g/t Au over 35.40m3 Keats Main May 21, 2021
8 124 g/t Au over 17.70m2 Keats Main May 4, 2021
9 261 g/t Au over 7.20m3 Keats Main Apr 20, 2021
10 69.2 g/t Au over 14.90m1 Keats Main Apr 7, 2021
11 86.2 g/t Au over 20.50m2 Keats Main Jan 28, 2020

*Additional details for these drilling highlight intervals are provided by clicking on this link.

Note host structures are estimated fall into one of four categories depending on the zone in which the interval is located: 170% to 95%, 240% to 70%, 310% to 40%, or 4true widths are presently unknown. 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 2m with a maximum of 4m consecutive dilution. 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.

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