VANCOUVER, BC, Nov. 15,
2024 /CNW/ - New Found Gold Corp. ("New
Found" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) is
pleased to announce that the Company has filed a National
Instrument 43-101 Standards of Disclosure for Mineral
Projects ("NI 43-101") technical report for New Found's
100% owned Queensway Project, entitled "NI 43-101 Technical Report,
New Found Gold Corp.'s Queensway Gold Project in Newfoundland and Labrador, Canada: 2024 Property Expansion and
Exploration Update", with an effective date of November 1, 2024 (the "Technical Report").
The purpose of the Technical Report is to provide an update on the
Queensway Project expanded land position, including the Company's
acquisition of the Kingsway Property (as defined below), and new
exploration activities. The Technical Report is available under the
Company's SEDAR+ profile at www.sedarplus.ca.
The Technical Report was prepared by D. Roy Eccles, M.Sc., P. Geol. P Geo. of APEX
Geoscience Ltd., Mark K. Jorgensen,
B.Sc., QP Metallurgy of Jorgensen Engineering and Technical
Services, LLC and Gary Simmons,
B.Sc., QP Metallurgy of GL Simmons Consulting, LLC, each a
"Qualified Person" as defined under NI 43-101 and independent of
New Found.
The Technical Report provides an update on New Found's
exploration activities at the Queensway Project since the Company's
previous technical report, which had an effective date of
April 18, 2024. Since that time, New
Found has 1) acquired 100% interest in Labrador Gold Corp.'s
Kingsway Project including four licences (311 claims) (the
"Kingsway Property"), 2) acquired 100% interest in three
licences (54 claims) from Sky Gold Corp., and 3) completed new
diamond drilling at the Big Vein, Dome, Dropkick, Everest,
Golden Dome, Golden Glove,
Golden Joint, Green Mantle, Honey
Pot, Iceberg, Iceberg Alley, Jackpot, Keats South and West, Knobby,
Lotto North, Monte Carlo,
Pistachio, Pristine, and Road gold prospects.
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. Greg
Matheson consents to the publication of this press release
dated November 15, 2024, by New
Found. Greg 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 650,000m drill program at Queensway and is well
funded for this program with cash and marketable securities of
approximately $35 million as of November 2024.
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,
www.newfoundgold.ca 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.
New Found Gold Corp.
Per: "Collin Kettell"
Collin Kettell, Chief Executive
Officer
Email: ckettell@newfoundgold.ca
Phone: +1 (845) 535-1486
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statement Cautions
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), relating to exploration, drilling and mineralization on
the Company's Queensway Gold Project in Newfoundland and Labrador for the future; and the merits of the
Queensway Project. 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", "interpreted", "intends", "estimates",
"projects", "aims", "suggests", "often", "target", "future",
"likely", "pending", "potential", "goal", "objective",
"prospective", "possibly", "preliminary", 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 TSX Venture
Exchange 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
associated with 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 assay results and the drilling program, 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 volatility of capital markets, 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 Canadian
Securities Administrators' System for Electronic Document Analysis
and Retrieval (SEDAR+) at www.sedarplus.ca or through the SEC's
Electronic Data Gathering and Retrieval System (EDGAR) at
www.sec.gov for a more complete discussion of such risk factors and
their potential effects.
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SOURCE New Found Gold Corp.