New Found Gold Continues to Expand Queensway Gold Project at Depth: 38.7 g/t Au over 6.55 m at Dome and 10.3 g/t Au over 8.20 m at Keats South Deep

Core Insights - New Found Gold continues to discover gold mineralization outside the initial resource at Queensway, with significant high-grade results from recent drilling [1][2][5] - The Phase I deep drilling program has successfully assessed the depth potential of the orogenic gold system at Queensway, revealing new zones over a kilometer below the surface [1][8] Drilling Results - The recent drilling program included 7,765 meters across 12 diamond drill holes, primarily targeting depth extensions at Dome and other areas [2][3] - Notable drill results include 38.7 g/t Au over 6.55 meters at Dome, and 10.3 g/t Au over 8.20 meters at Keats South Deep [5][11] - Eleven of the twelve drill holes reported were outside the initial mineral resource estimate area, indicating potential for resource expansion [2][6] Future Plans - The company is planning a 2025 drill program focusing on near-surface targets and high-priority discoveries, including Dropkick, Dome, and Golden Dome [9][30] - The completion of a preliminary economic assessment is scheduled for late Q2/25, which will further evaluate the Queensway project [30][31]