About New Found Gold Corp.
New Found Gold is advancing its 100%-owned Queensway gold project, spanning 1,756 km2 along the Trans-Canada Highway near Gander, Newfoundland and Labrador. Since its first discovery in 2019, the Project has uncovered over 20 high-grade gold zones along the prolific Appleton Fault Zone (AFZ). These discoveries, including the Keats, Iceberg, Keats West, Lotto, Iceberg, and K2 Zones, add to the growing list of zones comprising the AFZ Mineralized Envelope. The 4.1km long mineralized strike area, which extends up to 500m from the AFZ, showcases the Project's exceptional potential.
2023: A Year of Exploration Breakthroughs
In 2023, New Found Gold achieved several project milestones, reinforcing its reputation as a leader in the Canadian exploration sector. The Company conducted a 3D seismic survey at Queensway North, offering unprecedented insights into subsurface geological structures and guiding future deep drilling efforts. Surface trenching programs at the Keats Zone exposed mineralized areas with remarkable detail, uncovering new high-grade veins and allowing geologists to refine structural models.
Phase I of New Found's metallurgical program demonstrated 90–96% gold extraction rates across Keats, Lotto, and Golden Joint Zones. These findings laid a solid foundation for the Project's continued technical development and future economic studies.
These milestones were in lock-step with the discovery of six additional high-grade zones, including Iceberg, Iceberg East, and K2.
Strategic Growth in 2024
In 2024, New Found Gold strategically expanded its portfolio by acquiring the neighbouring Kingsway Project. This move not only increased the length of accessible strike along the AFZ to over 20 km but also validated the Company’s growth strategy. Early exploration at the expanded Queensway property has led to the discovery of the Pistachio Zone and the expansion of other known gold zones in the area, including Big Vein while work continues to step out into new untested target areas along the AFZ corridor.
Innovative programs, including ongoing deep drilling utilizing directional drilling technology and seismic data, continue to identify significant high-grade discoveries at depth, such as the Golden Dome and Keats South Deep zones. Surface trenching at Iceberg has further enhanced understanding of the Project's geology, allowing for detailed analysis and validation of the geological and structural models currently defined through drilling alone.
Phase II metallurgical testing focused on Iceberg and Iceberg East, with demonstrated gold extraction rates of 96.9%. Additional metallurgical testing will focus on Keats West, with results expected in early 2025.
Looking Ahead
New Found Gold is on track to deliver a maiden resource estimate by Q2 2025, to be followed by a preliminary economic assessment in late 2025. These studies will define the Project's mineral inventory, economic potential, and potential future development scenarios. Additionally, environmental baseline studies and hydrogeological assessments will continue to ensure sustainable project advancement.
Through cutting-edge exploration techniques, a commitment to responsible mineral exploration, and strong community partnerships, New Found Gold is poised to shape the future of gold discovery in Newfoundland.
For more information on the Queensway project, please see our corporate presentation.
~$23 million in cash and marketable securities*
*As of February 2025.
New Found is well funded to pursue its
exploration programs.
Board of Directors
Key People and Advisors
Committees
Audit
Committee
William Hayden (Chair)
Paul Huet
Vijay Mehta
Compensation
Committee
Collin Kettell (Chair)
Vijay Mehta
William Hayden
Nominating and Corporate
Governance Committee
Vijay Mehta (Chair)
Collin Kettell
William Hayden
Technical
Committee
Melissa Render (Chair)
Paul Huet
William Hayden
Governance
The Board of Directors and Management believe that good corporate governance is vital to New Found Gold’s long-term success and the protection of our stakeholders’ interest. Our directors commit to maintaining the highest standards of corporate governance according to evolving best practices and regulatory guidance.
New Found Gold’s Corporate Governance practices comply with those set out by the Canadian Securities Administrators, including National Policy 58-201 – Corporate Governance Guidelines and National Instrument 58-101 – Disclosure of Corporate Governance Practices.
Corporate Governance - Mandates, Charters, and Policies
Business Ethics and Policies
New Found Gold and the Board of Directors approved corporate governance guidelines to help us effectively manage our affairs and perform our responsibilities to the highest legal and ethical standards.
A Code of Business Conduct and Ethics applies to all employees, contractors, consultants, officers and directors and promotes honest, respectful, accountable and ethical conduct.
We have a ZERO tolerance approach to the act of bribery and corruption by any employees, officers, directors, agents, consultants and contractors as set out in our Anti-bribery and Anti-corruption Policy.
A Whistleblower Policy is in place for our employees, consultants, contractors, directors of officers to communicate concerns, confidentially and anonymously, about possible improprieties, illegal or unethical activities and ensures that measures are in place for an impartial investigation.