Find new gold (TSX-V: NFG; US-NYSE-A: NFGC) announced results that continue to verify gold mineralization throughout the core AFZ from the 2025 drilling program at its Queensway gold project in Newfoundland and Labrador. The company conducted 201 diamond holes with a total length of 22,796 metres.
“Queensway Phase 1 Keats West, Iceberg and Keats results continue to demonstrate continuity of gold mineralization in the block model and mine plan,” said company president Melissa Rinder. “In addition, progressive drilling downstream of the Phase 2 open pits at Iceberg and Kets has yielded high gold grades over broad scales, demonstrating the potential to add to the resource base close to the heart of the Ajman Free Zone. These new mineral intercepts will be pursued as part of our 2026 programme.”
The Keats West area achieved outstanding results, with hole NFGC-25-2618 returning 9.51 g/t gold over 19.85 meters starting at a depth of 64.15 metres. Additional strong results included 3.50 g/t gold over 20.45 metres, and 2.56 g/t gold over 20.40 metres.
In the Glacier area, 8.40 g/t of gold was extracted at a depth of 12.45 meters from a depth of 35.55 metres, while other drilling yielded 5.59 g/t of gold at a depth of 12.00 metres. The Kitts area produced exceptional grades, including 36.1 g/t gold at a depth of 2.00 metres.
The drilling program focused 75% of its efforts on the core Ajman Free Zone to support the Phase 1 mining plan outlined in the company’s initial economic assessment, while 25% targeted exploration areas such as the Dropkick area.
New Found Gold has successfully completed drilling operations in all three areas to upgrade the mineral resources from inferred to indicated grades within the Phase 1 open pits. The results are in close agreement with the initial mineral resource estimate and will be fed into the next resource update.
Two areas below the Phase 2 hole designs showed significant mineralization, including 9.15 g/t gold at a depth of 7.15 meters below the Kitts hole and 14.1 g/t gold at a depth of 2.40 meters below the Iceberg hole. These discoveries will guide future drilling programs.
The Company conducted extensive pre-development work, including drilling at proposed infrastructure sites which confirmed the absence of mineralization beneath key facilities. Geotechnical and hydrogeological programs provided important data for open pit design.
Looking to the future, New Found Gold has launched its 2026 program with four active drilling rigs. Initial work targets the second phase of open pit resource conversion before moving to phase three underground resource works later in the year.
The company plans to expand grade control drilling operations in the second quarter of 2026 and conduct exploratory drilling operations throughout the core Ajman Free Zone. A regional program will commence at Queensway South in the second half of 2026. New Found Gold expects to provide an updated technical report with revised mineral resources in the second half of 2026.
The 2025 program represents approximately 94% completion, with remaining results expected once available.
More information is posted at www.NewFoundGold.ca
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