New Found Gold Corp Stock Price, News & Analysis

New Found Gold Corp (TSX-V: NFG, NYSE-A: NFGC) has announced a significant financing package totaling approximately C$69 million, consisting of two components: a C$49 million bought deal financing of charity flow-through shares and a C$20 million private placement. The bought deal involves 21,400,000 charity flow-through common shares at C$2.29 per share, with an additional 15% over-allotment option. The private placement will offer up to 12,269,939 non-flow-through common shares at C$1.63 per share. Strategic investor Eric Sprott intends to participate in both offerings to increase his ownership beyond 20%, becoming a new Control Person. The proceeds will advance the Queensway Gold Project to development stage, with the flow-through funds specifically allocated for Canadian exploration expenses to be renounced by December 31, 2025.

New Found Gold (NYSE-A: NFGC) reported significant drill results from its Queensway Gold Project in Newfoundland and Labrador. The company announced high-grade gold intersections at the Dropkick zone, including 42.8 g/t Au over 14.95m, 47.6 g/t Au over 3.95m, and 22.9 g/t Au over 2.40m. The Dropkick mineralization has been extended to a 580m strike length and remains open in all directions. A new mineralization domain was discovered east of the Appleton Fault Zone (AFZ), yielding 5.30 g/t Au over 15.20m. At the Pistachio zone, drilling intersected 5.34 g/t Au over 7.30m, extending high-grade mineralization by 40m down-dip. The company has completed its 2024 exploration program totaling 89,974m in 271 diamond drill holes, with follow-up drilling at Dropkick planned for June 2025.

New Found Gold (NYSE-A: NFGC) has announced its participation in three major mining conferences: the Canaccord Genuity Global Metals and Mining Conference (May 20-22, 2025), the Central MinEx Conference (May 13-15, 2025), and THE Mining Investment Event (June 3-5, 2025). CEO Keith Boyle and other executives will attend various panel discussions, presentations, and one-on-one meetings with investors. The company will showcase drill core from its Queensway Gold Project in Newfoundland and Labrador.

Additionally, the company has granted 3,770,000 stock options to directors and officers at an exercise price of $1.67, exercisable until May 13, 2030, with vesting periods between 13 and 33 months.

New Found Gold Corp. (NYSE-A: NFGC) has launched its 2025 work program at the Queensway Gold Project in Newfoundland and Labrador. The program includes four diamond drill rigs conducting infill drilling at Keats West and Lotto zones, with two additional rigs planned for June 2025. The company is focusing on both infill and exploration drilling, particularly at high-priority targets including the Dome and Dropkick zones. Following a Q1/25 initial mineral resource announcement, the company is progressing towards development with a fully-funded PEA expected later this quarter. The program includes dewatering of the Iceberg zone excavation for channel sampling, and plans for bulk sampling in H1 2026. Notable previous drill results from Dropkick include 89.5 g/t Au over 5.85m and 26.2 g/t Au over 16.2m. The company has also engaged Target IR for investor relations services at $8,500/month starting May 15, 2025.

New Found Gold reports significant drill results from its Queensway Gold Project in Newfoundland and Labrador. Key highlights include 38.7 g/t Au over 6.55m at the Dome Zone and 10.3 g/t Au over 8.20m at Keats South Deep Zone.

The drilling program, covering 7,765m across 12 diamond drill holes, successfully expanded mineralization outside the initial mineral resource area. At Dome, drilling revealed high-grade gold at 240m depth. The Keats South Deep Zone showed consistent mineralization between 585m to 800m depth, with six out of seven holes containing visible gold.

The Phase I deep drilling program confirmed the depth potential of Queensway's gold system, with the deepest mineralization encountered at 1,150m depth. The company plans to focus its 2025 drilling on near-surface targets, resource conversion, and exploration of recent discoveries including Dropkick, Dome, and Golden Dome.

New Found Gold Corp. (NYSE-A: NFGC) has announced its initial mineral resource estimate (MRE) for the Queensway Gold Project, revealing significant gold resources. The MRE shows 1.39 Moz indicated resources (18.0 Mt grading 2.40 g/t Au) and 0.61 Moz inferred resources (10.7 Mt grading 1.77 g/t Au).

Notable highlights include 73% of indicated ounces contained in just 24% of the tonnage within mineral resource pit shells, suggesting potential for high-grade starter pits. The project, located in a Tier 1 jurisdiction, features mining-positive government support and access to infrastructure.

The company plans to release a preliminary economic assessment (PEA) in late Q2/25 and commence bulk sampling in H1/26. A 2025 drill campaign is planned for mid Q2/25, focusing on resource conversion and exploration along the project's 110 km strike length.

New Found Gold Corp. (NYSE-A: NFGC) has announced its initial Mineral Resource Estimate (MRE) for the Queensway Gold Project in Newfoundland. The estimate reveals:

Indicated Mineral Resources of 18.0 million tonnes grading 2.40 g/t Au for 1.39 million ounces, and Inferred Mineral Resources of 10.7 million tonnes grading 1.77 g/t Au for 0.61 million ounces.

Key highlights include:

• High-grade core containing 73% of ounces in 24% of indicated tonnage
• Initial MRE covers less than 5% of the 110 km strike extent
• Resource shows potential for expansion both along strike and at depth
• Preliminary Economic Assessment (PEA) planned for late Q2/25

The MRE incorporates multiple high-grade zones, including Keats and Iceberg, with 96% of indicated resources located within the Appleton Fault Zone Core. Metallurgical testing indicates 90% recovery across all deposits using gravity-CIL processing.

New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) has announced the filing of its 2024 annual financial documents. The company has submitted its annual financial statements, Management's Discussion and Analysis, and Annual Information Form for the year ended December 31, 2024, with both Canadian securities regulators and the U.S. Securities Exchange Commission via Form 40-F.

These documents are now accessible through multiple channels, including SEDAR+, the SEC's EDGAR system, and the company's website. Shareholders can request physical copies of these financial documents at no cost through the company's investor inquiry form.

New Found Gold Corp (TSXV: NFG) (NYSE-A: NFGC) has announced a significant change to its Board of Directors. Chad Williams, Chairman and Founder of Red Cloud Mining Capital Inc., has been appointed to the Board, replacing company founder Collin Kettell effective immediately.

Williams brings substantial mining industry expertise, having served as CEO of Victoria Gold Corp. and Head of Mining Investment Banking at Blackmont Capital Inc. His background includes experience as a highly ranked mining analyst at TD Bank and other Canadian brokerage firms.

Paul Huet, Chairman of New Found, welcomed Williams as an Independent Director, highlighting his extensive capital markets experience and mining industry knowledge. Huet also acknowledged Kettell's important role in discovering the Queensway Gold Project, noting that Kettell remains a major shareholder of the company.