VANCOUVER, BC, June 16, 2025 /PRNewswire/ - New Found Gold Corp. ("New Found Gold" or the "Company") (TSX-V: NFG) (NYSE-A: NFGC) is pleased to announce an expansion of the 2025 Work Program at the Company's 100% owned Queensway Gold Project ("Queensway" or the "Project") in Newfoundland and Labrador.Highlights: 70,000 metres ("m") diamond drill program underway; Approximately 11,750 m in 104 DDH1 has been drilled to date, with five drill rigs currently on site; 80% of planned drilling focused on resource de ...

St. John's, Newfoundland and Labrador--(Newsfile Corp. - May 2, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman" or the "Company") is pleased to provide the following update from the 100%-owned Moosehead Gold Project in central Newfoundland. Activities at Moosehead are focused on the first of two bulk samples proposed for 2025, which is tentatively scheduled for a late May or early June extraction date. The exact timing could vary depending on contractor availability or other as yet unf ...

Core Viewpoint - Perseus Mining Limited has made a Final Investment Decision (FID) to develop the Nyanzaga Gold Project in Tanzania, following an updated feasibility study [1][2]. Investment Overview - The company plans to invest approximately US$523 million for the development and operation preparation of the mine, with first gold production expected in Q1 2027 [2]. - The funding will be sourced from interest-free intercompany loans, utilizing Perseus's existing cash and bullion balance of US$801 million as of March 31, 2025 [2]. Project Development - To date, Perseus has invested around US$27.5 million in building project team capacity and initiating early works, including site establishment and bulk earthworks [3]. - The updated feasibility study indicates a shift to a large-scale, wholly open-pit mining operation for the first phase, as opposed to a smaller combined open-pit and underground option previously considered [4]. Production and Financial Metrics - Total gold production over an 11-year Phase 1 mine life is estimated at 2.01 million ounces, with an average annual production of over 200,000 ounces from FY28 to FY35, peaking at 246,000 ounces in FY28 [6]. - The estimated average All-In Site Cost (AISC) is US$1,211 per ounce, with total capital costs for the plant and site infrastructure estimated at US$472 million, including contingencies [6]. - The project is projected to generate an undiscounted free cash flow of US$1,133 million pre-tax and US$706 million post-tax, with a Net Present Value (NPV10%) of US$404 million pre-tax and US$202 million post-tax [6]. Government Engagement - The FID follows constructive engagement with the Government of Tanzania to clarify terms of an existing Framework Agreement for the project's development and operation [7]. Future Exploration - A second phase of resource definition drilling is currently underway, aimed at converting Inferred Mineral Resources into Indicated Mineral Resources, potentially extending the mine's operational life beyond the projected 11 years [8].