New Found Clarifies Technical Disclosure
21 Novembre 2023 - 11:00PM
Business Wire
New Found Gold Corp. (“New Found” or the
“Company”) (TSXV: NFG, NYSE-A: NFGC) announces that in
connection with a technical disclosure review by the British
Columbia Securities Commission (the “BCSC”), the Company is
clarifying certain disclosure related to the Company’s Queensway
project located in Newfoundland and Labrador (the “Queensway
Project”) and certain articles originally published by The
Northern Miner and Mining.com on November 7, 2023 (the
“Articles”).
The Articles have been updated and re-published to correct
certain disclosure regarding the Queensway Project at the request
of the Company. The Company retracts the disclosure that was
included in the original version of the Articles, including all
disclosure regarding an internal scoping study. The Company has not
completed an internal scoping study or preliminary economic
assessment on the Queensway Project and has not done adequate work
to develop a resource estimate at the Queensway Project.
The Company wishes to clarify that the Queensway Project is in
the exploration stage and that the Company’s existing technical
report titled “NI 43-101 Technical Report, January 2023 Exploration
Update at New Found Gold Corp.’s Queensway Gold Project in
Newfoundland and Labrador, Canada”, with an effective date of
January 24, 2023 (the “Technical Report”), prepared by D.
Roy Eccles, M.Sc., P. Geol. P Geo. of APEX Geoscience Ltd., remains
current and compliant with NI 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”). The Technical Report
reflects that neither a mineral resource or preliminary economic
assessment have been developed for the Queensway Project.
Further, the Company has amended or removed the following
disclosure from its website, corporate presentations, social media
and other investor relations materials:
- the “Forging the Future – From Exploration to Development”
video previously posted on the Company’s website has been
removed;
- the Company’s September 2023 corporate presentation has been
amended by the Company; and
- the Company’s Beaver Creek September 13, 2023 presentation has
been removed from the website of the event organizers.
Qualified Person
The scientific and technical information disclosed in this press
release was reviewed and approved by Greg Matheson, P. Geo., Chief
Operating Officer, and a Qualified Person as defined under NI
43-101. Mr. Matheson consents to the publication of this press
release dated November 21, 2023, by New Found. Mr. Matheson
certifies that this press release fairly and accurately represents
the scientific and technical information that forms the basis for
this press release.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander, Newfoundland and Labrador, and just
18km from Gander International Airport. The project is intersected
by the Trans-Canada Highway and has logging roads crosscutting the
project, high voltage electric power lines running through the
project area, and easy access to a highly skilled workforce. The
Company is currently undertaking a 500,000m drill program at
Queensway and is well funded for this program.
Please see the Company’s website at www.newfoundgold.ca and the
Company’s SEDAR+ profile at www.sedarplus.ca.
Contact
To contact the Company, please visit the Company’s website and
make your request through our investor inquiry form. Our management
has a pledge to be in touch with any investor inquiries within 24
hours. Information on the Company’s website does not form a part of
this press release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Information
This press release contains certain "forward-looking statements"
within the meaning of Canadian and U.S. securities legislation
(including the Private Securities Litigation Reform Act of 1995),
including statements relating to the Company’s plans for the
exploration and development of the Queensway Project and the
funding of the Company’s drill program. Although the Company
believes that such statements are reasonable, it can give no
assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical
facts; they are generally, but not always, identified by the words
"expects," "plans," "anticipates," "believes," "intends,"
"estimates," "projects," "aims," "suggests," "potential," "goal,"
"objective," "prospective," "possibly," and similar expressions, or
that events or conditions "will," "would," "may," "can," "could" or
"should" occur, or are those statements, which, by their nature,
refer to future events. The Company cautions that forward-looking
statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made, and they
involve a number of risks and uncertainties. Consequently, there
can be no assurances that such statements will prove to be accurate
and actual results and future events could differ materially from
those anticipated in such statements. Except to the extent required
by applicable securities laws and the policies of the TSXV or the
NYSE American, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include: risks related to possible
accidents and other risks associated with mineral exploration
operations, the risk that the Company will encounter unanticipated
geological factors, risks associated with the interpretation of
exploration and drilling programs, the possibility that the Company
may not be able to secure permitting and other governmental
clearances necessary to carry out the Company's exploration plans,
the risk that the Company will not be able to raise sufficient
funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management's
Discussion and Analysis, publicly available through the SEDAR+ at
www.sedarplus.ca or through the EDGAR at www.sec.gov for a more
complete discussion of such risk factors and their potential
effects.
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version on businesswire.com: https://www.businesswire.com/news/home/20231121142716/en/
New Found Gold Corp. Per: "Collin Kettell" Collin
Kettell, Chief Executive Officer ckettell@newfoundgold.ca +1 (845)
535-1486
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