Newsfile·2025-12-01 07:00Core Insights - New Found Gold Corp. has confirmed high-grade gold mineralization at the Keats zone of its Queensway Gold Project, with notable drill results including 219 g/t Au over 9.35 m and 160 g/t Au over 10.30 m [1][5][10] Company Overview - New Found Gold Corp. holds a 100% interest in the Queensway Gold Project and is focused on advancing it into production [38] - The company has also acquired the Hammerdown Gold Project and is working towards steady-state gold production [38] Drilling Program Details - The initial results reported are from 16 of 84 diamond drill holes, representing approximately 20% of the total results from the grade control drilling program [4][6] - The drilling program aims to enhance confidence in the grade distribution of high-grade, near-surface mineralization and support mine planning [4][10] Drill Results Highlights - Significant drill results include: - 219 g/t Au over 9.35 m from 19.00 m [5] - 160 g/t Au over 10.30 m from 5.10 m [5] - 105 g/t Au over 10.20 m from 15.80 m [5] - The results align well with the initial mineral resource estimate block model, confirming strong continuity of high-grade mineralization at Keats [10] Future Plans - The company plans to expand the grade control drilling program in 2026, optimizing drill hole spacing and program scope based on 2025 results [12] - The 2025 Queensway drill program, which commenced in May 2025, is over 90% complete and is expected to finish all proposed drilling in Q4/25 [14][15] Exploration and Excavation Activities - Ongoing exploration drilling is taking place in the vicinity of the Dropkick zone, where a new zone of gold mineralization is being outlined [16] - An excavation program has been completed to validate the geological model and collect analytical information across key zones for the Preliminary Economic Assessment Phase 1 mine plan [17]