UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number: 001-39966
New Found Gold Corp. |
(Exact name of registrant as specified in its charter) |
WeWork c/o New Found Gold Corp.
555
Burrard Street
Vancouver,
British Columbia
Canada V7X 1M8 |
(Address of principal executive office) |
Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or 40-F:
Form 20-F o
Form 40-F þ
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto duly
authorized.
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NEW FOUND GOLD CORP. |
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(Registrant) |
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Date: |
July 11, 2024 |
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By: |
/s/ Collin Kettell |
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Collin Kettell |
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Chief Executive Officer |
EXHIBIT 99.1
NEW FOUND INTERCEPTS NINE NEW GOLD ZONES SPANNING
3KM IN
STRIKE, DOUBLES KNOWN VERTICAL EXTENT OF GOLD MINERALIZATION
TO 820M DEPTH AT QUEENSWAY
Vancouver, BC, July 11, 2024 - New Found Gold Corp.
(“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the first set of
results from 11 diamond drill holes that were completed as part of a deep drilling program along the highly prospective Appleton Fault
Zone (“AFZ”) on its 100% owned Queensway Project (“Queensway”), located on the Trans-Canada Highway
15km west of Gander, Newfoundland. The Company commenced deep drilling at Queensway in March to test targets derived from the initial
3-D seismic interpretation and to date, a total of 14,940m have been completed in 15 drill holes ranging in length from 550m to 1,270m.
Initial Deep Program Highlights:
| • | Initial deep drilling confirms the presence of
high-grade epizonal-style gold mineralization extending to 820m depth, doubling the vertical extent of the gold mineralized system at
Queensway (Figures 2-4). |
| • | Nine new deep gold zones were intersected in
three holes. Six of the mineralized zones contained visible gold, with individual gold assay values as high as 42.0 g/t Au and 57.1 g/t
Au (Figure 1). These zones occur on both the east and west sides of the AFZ and occur over a strike length of 3km (Figure 2-4). A detailed
discussion of the mineralized intervals is provided in the Technical Discussion section below. |
| • | Mineralization encountered at depth exhibits
the same characteristics as the AFZ gold system at surface with broad quartz vein domains ranging in downhole length from 6m to 66m, visible
gold mineralization, accessory minerals arsenopyrite, boulangerite, chalcopyrite, NH4 white mica alteration halos, and extensive deformation
(Figures 9-12). |
| • | The same lithological and structural framework
has been confirmed to continue at depth and these initial deep test holes have provided an important preliminary dataset for interpreting
the 3-D seismic data. This information is critical for refining existing geological models, further enhancing deep targeting capabilities. |
| • | The directional drilling program utilizing Devico
AS, a division of IMDEX, is now underway that will enable the use of branch holes to expedite follow-up on these deep discoveries. Assay
results from 11 diamond drill holes have been received to date and the deep drilling program is ongoing. |
Initial Deep Results Highlights:
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Target Region |
NFGC-24-2112 |
772.05 |
774.70 |
2.65 |
10.98 |
Keats South Deep |
Including |
772.75 |
773.25 |
0.50 |
57.12 |
And |
915.40 |
917.45 |
2.05 |
1.98 |
And |
919.25 |
923.95 |
4.70 |
2.17 |
And |
936.70 |
940.20 |
3.50 |
1.69 |
And |
1016.50 |
1019.20 |
2.70 |
7.66 |
Including |
1017.65 |
1018.30 |
0.65 |
28.48 |
NFGC-23-1304* |
768.40 |
770.55 |
2.15 |
3.27 |
Iceberg-AFZ Deep |
Including |
768.40 |
768.75 |
0.35 |
13.45 |
And |
829.85 |
832.00 |
2.15 |
12.01 |
Including |
829.85 |
830.45 |
0.60 |
41.97 |
And |
842.60 |
845.00 |
2.40 |
1.01 |
And |
960.30 |
962.65 |
2.35 |
1.16 |
NFGC-24-2094 |
594.20 |
601.20 |
7.00 |
1.50 |
Deep Seismic Target |
Table 1: Deep Drilling Highlights
Note that the host structures are interpreted to
be moderately to steeply dipping and true widths are unknown at this time. Infill veining in secondary structures with multiple orientations
crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width.
Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m
consecutive dilution when above 200m vertical depth and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts
are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals
are reported as drill thickness. *Drill hole was extended.
New Found Gold Corp. | 1 | TSX-V: NFG, NYSE-A: NFGC |
Figure 1: Photos of mineralization
from Top: NFGC-23-1304 at ~769m, 830.6m and 1115.9m
Bottom: NFGC-24-2112 at 1016.9m, 830.6m
and 773m
^Note that these photos
are not intended to be representative of gold mineralization in NFGC-23-1304 and NFGC-24-2112.
Melissa Render, VP of Exploration of New Found, stated:
“Initial deep drilling results has confirmed our overarching thesis that Queensway is a deep-rooted mineralized gold system with
a broad footprint that extends to depth. With nine new zones intersected, we have plenty of targets for direct follow up. We are not only
encouraged by the number of mineralized intersections, but also by the extent of the mineralization, with some zones spanning up to 66m
in length. Each of these zones exhibit epizonal-style gold mineralization characteristic of the multitude of discoveries made along this
segment of the AFZ. Visible gold occurs in six of the nine zones, at vertical depths ranging from 550m to 820m. These are the deepest
gold intercepts identified to date and double the depth extent of the gold mineralized footprint.
“Initial deep
targets were derived in part from the seismic data and from our existing geological model where drill holes were planned to test highly
prospective domains of rock in locations where large gold-bearing structures are known to cross. These holes have added important geological
knowledge at depth, information that will improve both our understanding of the seismic data and our geological model assisting with future
deep targeting. These new discoveries, offer an excellent anchor point for testing with branch holes utilizing directional drilling to
more efficiently test these new gold-bearing structures at depth. With an improved understanding of the seismic features and utilizing
Devico AS’ directional drilling capabilities, New Found’s team is confident that it can refine its follow up drilling efforts
to be faster, cheaper and more accurate at honing in on gold mineralization at depth.”
New Found Gold Corp. | 2 | TSX-V: NFG, NYSE-A: NFGC |
Figure 2. 3-D vertical view (+/- 500m) of the
approximately 6km north-south mineralized corridor along the
Appleton Fault Zone at Queensway North with modelled zones and deep drillhole
traces with results received
(looking west)
Figure 3. Keats and AFZ East long section (looking
west)
Figure 4. AFZ West long section (looking west)
New Found Gold Corp. | 3 | TSX-V: NFG, NYSE-A: NFGC |
Figure 5. Grouse- Everest plan view map with
locations of the deep drillholes reported in this press release
Technical Discussion
Below Keats (NFGC-24-2112):
| • | At the southern extent of the Keats Baseline
Fault Zone (“KBFZ”), in the highly prospective region near the AFZ, two holes have been completed. NFGC-24-2112 intersected
four distinct gold-bearing intervals throughout a total downhole length of 258m. These intervals range in vertical depth from 585-770m
(Figures 2, 3, 5 and 6). |
New Found Gold Corp. | 4 | TSX-V: NFG, NYSE-A: NFGC |
| • | Zone 1 observed visible gold in a quartz vein
zone at 773m grading 11.0 g/t Au over 2.65m, including a high-grade assay of 57.1 g/t Au over 0.50m (Figure 1). |
| • | Zone 2 consists of a broad interval of significant
gold mineralized quartz veining spanning a downhole interval of 66m starting at 815m, characterized by massive stylolitic, brecciated
and stockwork quartz vein phases with visible gold at 830.6m (Figure 1). This is accompanied by strong faulting and anomalous gold from
825-851m (Figure 9). |
| • | Zone 3 is a wide domain of irregular gold mineralized
stylolitic quartz veining and associated deformation reporting 1.98 g/t Au over 2.05m, 2.17 g/t Au over 4.70m and 1.69 g/t Au over 3.50m,
extending 25m downhole from 915m (Figure 9). |
| • | Zone 4 is a gold mineralized interval located
on the west side of the AFZ characterized by massive stylolitic quartz veins (Figure 10) containing finely disseminated gold (Figure 1)
with the most significant veining occurring over 15m downhole from 1,016m, grading 7.66 g/t Au over 2.70m, including a high-grade assay
of 28.5 g/t Au over 0.65m. |
Iceberg-AFZ (NFGC-23-1304):
| • | A further 1.2km to the northeast between the
Iceberg segment of the KBFZ and the AFZ the extension of NFGC-23-1304 intercepted four individual zones of significant gold mineralization.
These intervals range in vertical depth from 550-820m (Figures 2, 3, 5 and 7). |
| • | Zone 1, starting 763m downhole, is characterized
by a high density of gold mineralized quartz veins, some with widths of up to 1m, accompanied by increased deformation that extends a
broad interval spanning 14m in length that is anomalous in gold throughout. This interval contained two visible gold occurrences and returned
a significant interval of 3.27 g/t Au over 2.15m including a high-grade assay of 13.5 g/t Au over 0.35m (Figures 1 and 11). |
| • | Zone 2, at 830m downhole, consists of a high-grade
vein with coarse visible gold grading 12.0 g/t Au over 2.15m including 41.2 g/t Au over 0.60m (Figure 1). |
| • | Zone 3 is a domain with an increase of massive
stylolitic and brecciated quartz veins containing anomalous gold throughout and extending 6m in downhole length from 839m (Figure 11).
|
| • | Zone 4 is an interval consisting of high density
stockwork and irregular quartz veins that are locally brecciated and contain anomalous gold, including one visible gold occurrence extending
13m downhole from 1,111m (Figure 11). |
K2 Extension and AFZ-GSZ (NFGC-24-2094):
| • | At K2, a further 1.7km to the north, drill hole
NFGC-24-2094 was designed to test both the deep extension of the K2 Main gold structure and a seismic target in a region where the Glenwood
Shear Zone (“GSZ”) is interpreted to intersect the AFZ (Figures 2, 4, 5, and 8). This drillhole was successful in both
extending the K2 structure to depth and identifying a new zone immediately west of the AFZ in close proximity to the GSZ. |
| • | At a vertical depth of 296m, drilling encountered
an increased percentage of mineralized stacked quartz veinlets transitioning to thicker and more massive stylolitic veins, typical of
the K2 mineralization style. This interval of 13m starts at 334m downhole and grades 1.11 g/t Au over 2.30m, with anomalous gold throughout
(Figure 12). This is interpreted to be the deep down-dip extension of the K2 Zone, extending it by 220m down-dip (Figure 8). |
| • | The deep AFZ-GSZ intercept is located at the
intersection of the AFZ-GSZ in the hanging wall to the AFZ and is comprised of a significant deformation zone with an abundance of quartz
veinlets grading 1.50 g/t Au over 7.00m at a vertical depth of 555m. Mineralization in this area is akin to mineralization found at the
Keats West Zone (Figure 12). |
New Found Gold Corp. | 5 | TSX-V: NFG, NYSE-A: NFGC |
Figure 6. 3-D cross-section of NFGC-24-2112 (+/-
25m, looking northeast)
New Found Gold Corp. | 6 | TSX-V: NFG, NYSE-A: NFGC |
Figure 7. 3-D cross-section of NFGC-24-1304 (+/-
25m, looking northeast)
Figure 8. Inclined 3-D view of K2 with only the
K2 Main structure visible and NFGC-24-2094
New Found Gold Corp. | 7 | TSX-V: NFG, NYSE-A: NFGC |
Figure 9: Core photos from NFGC-24-2112,
Left: from 815-852m, Right: 914-944m
Figure 10: Core photos from NFGC-24-2112
from 1016-1031m
New Found Gold Corp. | 8 | TSX-V: NFG, NYSE-A: NFGC |
Figure 11: Core photos from NFGC-23-1304,
Top Left: from 762-777.5m, Bottom Left: from 839-847m,
Right: from 1,009-1,129m.
Figure 12: Core photos from NFGC-24-2094, Left: from 593-604m, Right: 333.5-347m.
New Found Gold Corp. | 9 | TSX-V: NFG, NYSE-A: NFGC |
Drillhole Details
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Zone |
NFGC-24-2101A |
No Significant Values |
Keats South Deep Seismic Target |
NFGC-24-21124 |
772.05 |
774.70 |
2.65 |
10.98 |
Keats South Deep |
Including |
772.75 |
773.25 |
0.50 |
57.12 |
And4 |
915.40 |
917.45 |
2.05 |
1.98 |
And4 |
919.25 |
923.95 |
4.70 |
2.17 |
And4 |
936.70 |
940.20 |
3.50 |
1.69 |
And4 |
1016.50 |
1019.20 |
2.70 |
7.66 |
Including |
1017.65 |
1018.30 |
0.65 |
28.48 |
NFGC-24-2103B1 |
7.00 |
22.45 |
15.45 |
3.34 |
Keats West |
Including1 |
11.00 |
12.00 |
1.00 |
13.67 |
Including1 |
15.45 |
16.20 |
0.75 |
14.98 |
And1 |
44.00 |
59.35 |
15.35 |
3.71 |
And |
No Significant Values |
Keats West Deep |
NFGC-24-2103A1** |
6.25 |
13.45 |
7.20 |
2.40 |
Keats West |
And1 |
27.35 |
32.40 |
5.05 |
1.82 |
And1 |
44.25 |
58.10 |
13.85 |
2.85 |
NFGC-22-808* |
No Significant Values |
Iceberg-AFZ Deep |
NFGC-23-1304*4 |
768.40 |
770.55 |
2.15 |
3.27 |
Iceberg-AFZ Deep |
Including |
768.40 |
768.75 |
0.35 |
13.45 |
And4 |
829.85 |
832.00 |
2.15 |
12.01 |
Including |
829.85 |
830.45 |
0.60 |
41.97 |
And4 |
842.60 |
845.00 |
2.40 |
1.01 |
And4 |
960.30 |
962.65 |
2.35 |
1.16 |
NFGC-24-2080 |
No Significant Values |
Iceberg Deep Seismic Target |
NFGC-24-2093A |
No Significant Values |
Iceberg Deep Seismic Target |
NFGC-24-2090A |
No Significant Values |
Lotto Deep Seismic Target |
NFGC-24-2083 |
No Significant Values |
|
NFGC-24-2092 |
No Significant Values |
Deep Seismic Target |
NFGC-24-20944 |
19.85 |
22.35 |
2.50 |
1.15 |
Monte Carlo |
And4 |
254.10 |
256.45 |
2.35 |
2.17 |
Unknown |
And1 |
336.20 |
338.50 |
2.30 |
1.11 |
K2 Deep |
And4 |
594.20 |
601.20 |
7.00 |
1.50 |
Deep Seismic Target |
Table 2: Summary of composite results reported
in this press release for all deep drillholes received to date
Note that the host structures are interpreted to
be moderately to steeply dipping and true widths are generally estimated to be 170% to 95%. 4True widths are unknown
at this time. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly
observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted
average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 4m consecutive dilution when above 200m vertical depth
and 2m consecutive dilution when below 200m vertical depth. Included high-grade intercepts are reported as any consecutive interval with
grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as drill thickness. *Drill hole
extended. **Failed hole.
Hole No. |
Azimuth (°) |
Dip (°) |
Length (m) |
UTM E |
UTM N |
Prospect |
NFGC-22-808 |
120 |
-45 |
881 |
658058 |
5428076 |
Keats West |
NFGC-23-1304 |
300 |
-45 |
1247 |
658432 |
5427632 |
Iceberg |
NFGC-24-2080 |
294 |
-54 |
1022 |
658843 |
5427624 |
Iceberg East |
NFGC-24-2083 |
308 |
-59 |
945 |
659509 |
5429493 |
Jackpot |
NFGC-24-2090A |
274 |
-48 |
881 |
659370 |
5429020 |
Lotto North |
NFGC-24-2092 |
120 |
-69 |
1121 |
657841 |
5428443 |
Little Zone |
NFGC-24-2093A |
299 |
-61 |
986 |
659107 |
5427814 |
Iceberg East |
NFGC-24-2094 |
62 |
-67 |
641 |
658671 |
5429398 |
Monte Carlo |
NFGC-24-2101A |
282 |
-52.5 |
833 |
658075 |
5426899 |
Keats South |
NFGC-24-2103B |
335 |
-59 |
563 |
658102 |
5427995 |
Keats West |
NFGC-24-2112 |
320 |
-50 |
1157 |
657840 |
5426411 |
Keats South |
Table 3: Details of drill holes reported in this
press release
Queensway 650,000m Drill Program Update
The Company is currently undertaking a 650,000m drill
program at Queensway and approximately 4,830m of core is currently pending assay results.
Sampling, Sub-sampling, and Laboratory
All drilling recovers HQ core. The drill core is split
in half using a diamond saw or a hydraulic splitter for rare intersections with incompetent core.
A geologist examines the drill core and marks out
the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 metre and adjusted to respect lithological and/or mineralogical
contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.
New Found Gold Corp. | 10 | TSX-V: NFG, NYSE-A: NFGC |
Technicians saw the core along the defined cutting
line. One-half of the core is kept as a witness sample and the other half is submitted for analysis. Individual sample bags are sealed
and placed into totes, which are then sealed and marked with the contents.
New Found has submitted samples for gold determination
by fire assay to ALS Canada Ltd. (“ALS”) and by photon assay to MSALABS (“MSA”) since June 2022.
As of February 2024, gold analysis at ALS has been performed by photon assay. ALS and MSA operate under a commercial contract with New
Found.
Drill core samples are shipped to ALS for sample preparation
in Sudbury, Ontario, Thunder Bay, Ontario, or Moncton, New Brunswick. ALS is an ISO-17025 accredited laboratory for the fire assay and
photon assay methods.
Drill core samples are also submitted to MSA in Val-d’Or,
Quebec. MSA operates numerous laboratories worldwide and maintains ISO-17025 accreditation for many metal determination methods. MSA is
an ISO-17025 accredited laboratory for the photon assay method.
At ALS for fire assay, the entire sample is crushed
to approximately 70% passing 2mm. A 3,000-g split is pulverized. “Routine” samples do not have visible gold (VG) identified
and are not within a mineralized zone. Routine samples are assayed for gold by 30-g fire assay with an inductively-couple plasma spectrometry
(ICP) finish. If the initial 30-g fire assay gold result is over 1 g/t, the remainder of the 3,000-g split is screened at 106 microns
for screened metallics assay. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire-assayed,
and two splits of the fine fraction (sized less than 106 microns) are fire-assayed. The three assays are combined on a weight-averaged
basis. Samples that have VG identified or fall within a mineralized interval are automatically submitted for screened metallic assay for
gold.
Samples submitted to ALS beginning in February 2024,
received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then
riffle split and transferred into jars. For “routine” samples that do not have VG identified and are not within a mineralized
zone, one (300-500g) jar is analyzed by photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed
into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed
sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a
weight-averaged basis.
At MSA, the entire sample is crushed to approximately
70% passing 2mm. For “routine” samples that do not have VG identified and are not within a mineralized zone, the samples are
riffle split to fill one 450g jar for photon assay. If the jar assays greater than 0.8 g/t, the remaining crushed material is weighed
into multiple jars and submitted for photon assay.
For samples that have VG identified, the entire crushed
sample is weighed into multiple jars and submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.
All samples prepared at ALS or MSA are also analyzed
for a multi-element ICP package (ALS method code ME-ICP61) at ALS Vancouver.
Drill program design, Quality Assurance/Quality Control,
and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent
with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory’s internal
quality assurance programs.
Quality Control data are evaluated on receipt from
the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances.
All results stated have passed New Found’s quality control protocols.
New Found’s quality control program also includes
submission of the second half of the core for approximately 2% of the drilled intervals. In addition, approximately 1% of sample pulps
for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.
New Found Gold Corp. | 11 | TSX-V: NFG, NYSE-A: NFGC |
The Company does not recognize any factors of drilling,
sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.
The assay data disclosed in this press release have
been verified by the Company’s Qualified Person against the original assay certificates.
The Company notes that it has not completed any economic
evaluations of its Queensway Project and that the Queensway Project does not have any resources or reserves.
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 National Instrument 43-101. Mr. Matheson consents to the publication of this press release dated July 11, 2024, 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 650,000m drill program at Queensway and is
well funded for this program with cash and marketable securities of approximately $54 million as of July 2024.
Please see the Company’s website at www.newfoundgold.ca
and the Company’s SEDAR+ profile at www.sedarplus.ca.
Acknowledgements
New Found acknowledges the financial support of the
Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
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.
New Found Gold Corp. | 12 | TSX-V: NFG, NYSE-A: NFGC |
Forward-Looking Statement Cautions
This press release contains certain “forward-looking
statements” within the meaning of Canadian securities legislation, relating to exploration, drilling and mineralization on the
Company’s Queensway gold project in Newfoundland and Labrador; the deep drilling program and the interpretation of the results
and benefits of such program; the directional drilling program utilizing Devico AS and the expected benefits of such program, including
that it is expected to refine follow up drilling to be faster, cheaper and more accurate; assay results; the interpretation of drilling
and assay results, the extent of mineralization and the discovery of zones of high-grade gold mineralization; plans for future exploration
and drilling and the timing of same; the merits of the Queensway project; future press releases by the Company; and funding of the drilling
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”, “interpreted”,
“intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”,
“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, 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 exploration, drilling and assay results, 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 Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of
such risk factors and their potential effects.
New Found Gold Corp. | 13 | TSX-V: NFG, NYSE-A: NFGC |
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