New Found Gold Corp. (NFGC) Completes Key Milestone at Queensway Gold Project by Entering into Phase 1 EPCM Contract

Core Insights - New Found Gold Corp. (NFGC) is recognized as one of the 11 best gold stocks to buy for 2026 [1] - The company has entered into a Phase 1 EPCM contract with WSP Canada Inc. for the Queensway Gold Project, which includes site planning and detailed engineering for an offsite milling plant [2] - The first gold pour from the Queensway project is anticipated in the second half of 2027, pending necessary permissions [2] Project Developments - The Phase 1 EPCM contract aims to modernize the Pine Cove Mill to process feed from both the Queensway and Hammerdown projects [2] - An Environmental Registration submission is expected in late Q1 2026 to initiate the environmental review process, with baseline work nearly complete [2] - A revised mineral resource estimate and an updated Technical Report are scheduled for mid-2026 [2] Drilling Program - The 2026 drill program commenced on January 21, 2026, utilizing four rigs focused on infill and research drilling [3] - Notable infill results from the K2 zone include 5.22 g/t Au over 14.90 m and 8.51 g/t Au over 6.65 m, indicating potential resource expansion [3] - The stock price increased by 10.56% year-to-date as of January 27, 2026 [3] Company Overview - New Found Gold Corp. is a mineral exploration company engaged in acquiring, exploring, and evaluating resource prospects [3]