Disclaimer
This website, and the information contained herein, is not intended to modify, qualify, supplement or amend information disclosed under securities legislation of any jurisdiction applicable to New Found Gold Corp. (“New Found Gold”, “NFG”, “NFGC”, or the “Company”) and has been provided solely for information purposes and should not be used for the purpose of making investment decisions. New Found Gold’s public disclosure documents are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov.
While the information contained on this website is believed to be accurate, New Found Gold expressly disclaims any and all liability for any losses, claims or damages of whatsoever kind based upon the information contained in, or omissions from, this website or any oral communication transmitted in connection therewith. In addition, none of the statements contained on this website are intended to be, nor shall be deemed to be, representations or warranties of the Company. Where the information is from third-party sources, the information is from sources believed to be reliable, but the Company has not independently verified any of such information contained herein. This information is not, and under no circumstances is to be construed as, a prospectus, an offering memorandum, an advertisement or a public offering of securities. Under no circumstances should the information contained herein be considered an offer to sell or a solicitation of an offer to buy any securities.
All stock quotes and historical stock price data are provided by third party service providers and are provided for informational purposes only. Stock quotes may be delayed and are not intended for trading purposes. New Found Gold makes no representation or warranty regarding the accuracy or completeness of any such stock price quotes or historical stock price data and has not taken any steps to verify the adequacy, accuracy or completeness of the information provided herein.
Cautionary Note to United States Investors Regarding the Presentation of Mineral Resource Estimates
As a British Columbia corporation and a “reporting issuer” under Canadian securities laws, we are required to provide disclosure regarding our mineral properties in accordance with Canadian National Instrument 43-101 –Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. In accordance with NI 43-101, we use the terms mineral reserves and resources as they are defined in accordance with the 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves (the “CIM Definition Standards”) adopted by the Canadian Institute of Mining, Metallurgy and Petroleum. In particular, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” used on this website, are Canadian mining terms defined in accordance with CIM Definition Standards. These definitions differ from the definitions in the disclosure requirements promulgated by the U.S. Securities and Exchange Commission (the “SEC”). Accordingly, information contained on this website may not be comparable to similar information made public by U.S. companies reporting pursuant to SEC disclosure requirements.
United States investors are also cautioned that while the SEC will now recognize “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”, investors should not assume that any part or all of the mineralization in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any “measured mineral resources”, “indicated mineral resources”, or “inferred mineral resources” that we report are or will be economically or legally mineable. Further, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources exist. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.
Cautionary Note Regarding Forward Looking Information
This website and the documents posted on this website certain forward-looking statements within the meaning of Canadian securities legislation (the “Forward-Looking Information”), including with respect to the results of the Preliminary Economic Assessment (“PEA”) for the Company’s Queensway Project (the “Project” or “Queensway Project”): the projected economics of the Project, including average annual production, the net present value, the internal rate of return, the payback period, cash flow, mine life, and capital and operating costs; the phased mine plan; the project design and timing; the project development timeline, including commencement of construction and timing of first production; regulatory approvals and permitting; access and infrastructure for the Project; community support for the Project; the identification of further mineral resources at the Project; the conversion of existing mineral resources into categories of mineral resources or mineral reserves of increased geological confidence; engineering and environmental studies; a feasibility study and the timing thereof; metallurgical testwork; exploration and drilling; growth of the Queensway Project and value creation for shareholders and communities; expansion potential of the Queensway Project; the Company’s short and long term objectives; development at the Queensway Project and related timing; the Company’s areas of focus at the Queensway Project; and the merits and potential of the Queensway Project. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-Looking Information are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “indicates,” “projects,” “aims,” “potential,” “goal,” “objective,” “prospective,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-Looking Information are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Factors that could cause future results to differ materially from those anticipated in these Forward-Looking Information include risks associated with possible accidents and other risks associated with mineral exploration operations; the risk that the Company will encounter unanticipated geological factors; risks associated with the accuracy of the PEA; risks related to the results and timing of studies; risks related to the interpretation of assay results and the results of the drilling and exploration programs; the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration and other plans; the risk that the Company will not be able to raise sufficient funds to carry out its plans; the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects; risks related to assumptions regarding the fold price and inflation and prices for key supplies, and risk related to disruptions affecting activities at the Project. The reader is urged to refer to the Company’s Annual Information Form and Management’s Discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these Forward-Looking Information if management’s beliefs, estimates or opinions, or other factors, should change. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any Forward-looking Statement. Any Forward-Looking Information contained in this website are expressly qualified in their entirety by this cautionary statement.
Compliance with NI 43-101
New Found Gold has prepared the scientific and technical information on this website (“Technical Information”) based on information contained in the news releases and Technical Report (as defined below) (collectively the “Disclosure Documents”) available under New Found Gold’s company profile on SEDAR+ at www.sedarplus.ca. Each Disclosure Document was prepared by or under the supervision of a qualified person (a “Qualified Person”) as defined in NI 43-101. Readers are encouraged to review the full text of the Disclosure Documents which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability and the PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. The Disclosure Documents are each intended to be read as a whole, and sections should not be read or relied upon out of context. The Technical Information is subject to the assumptions and qualifications contained in the Disclosure Documents.
Disclosure Documents include the news release titled “New Found Gold Announces Preliminary Economic Assessment for the Queensway Gold Project” dated July 21, 2025, the news release titled “New Found Gold Corp. Announces Initial Mineral Resource Estimate for the Queensway Gold Project, Newfoundland and Labrador”, dated March 24, 2025; the news release titled “New Found Reports Positive Phase 1 Metallurgical Test Results Demonstrating 90% to 96% Gold Extraction at Queensway”, dated April 3, 2024; the news release entitled “New Found Reports Positive Phase II Metallurgical Test Results Demonstrating 97% Gold Extraction at Iceberg and Iceberg East”, dated November 1, 2024; and the technical report titled “43-101 Technical Report for the Queensway Gold Project, Newfoundland and Labrador, Canada”, dated April 15, 2025, with an effective date of March 18, 2025, prepared by Pierre Landry, P.Geo., Lance Engelbrecht, P.Eng., and David M. Robson, P.Eng., of SLR Consulting (Canada) Ltd., in conjunction with Sheldon H. Smith, P.Geo. of Stantec Consulting, independent qualified persons under NI 43-101 (the “Technical Report”).
Melissa Render, P.Geo., President of the Company, and a Qualified Person pursuant to NI 43-101, has reviewed and approved the scientific and technical information contained in this website. Ms. Render has verified the data disclosed herein, including sampling, analytical and test data underlying the technical information contained herein.
Non-GAAP Financial Measures
The Company has included certain non-GAAP financial measures on this website. These financial measures are not defined under IFRS and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.
All-in Sustaining Cost
All in sustaining cost is a non-GAAP financial measure calculated based on guidance published by the World Gold Council (“WGC”). The WGC is a market development organization for the gold industry and is an association whose membership comprises leading gold mining companies. Although the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these metrics. Adoption of the all-in-sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported by the Company.
All-in sustaining cost includes both operating and capital costs required to sustain gold production on an ongoing basis. Sustaining operating costs represent expenditures expected to be incurred at the Project that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.