New Found Gold Files Hammerdown Gold Project NI 43-101 Technical Report

New Found Gold (NYSE American: NFGC) filed a NI 43-101 technical report titled "Hammerdown Gold Project Preliminary Economic Assessment" with an effective date of February 18, 2026 and filing dated March 17, 2026.

Rhea-AI Summary

New Found Gold (NYSE American: NFGC) filed a NI 43-101 technical report titled "Hammerdown Gold Project Preliminary Economic Assessment" with an effective date of February 18, 2026 and filing dated March 17, 2026.

The report covers the Company’s 100% owned Hammerdown project and was prepared by WSP Canada Inc., authored by multiple independent Qualified Persons.

Positive

• Filed NI 43-101 PEA for Hammerdown with effective date Feb 18, 2026
• Hammerdown is 100% owned by New Found Gold
• WSP Canada Inc. prepared the Technical Report with independent Qualified Persons

Negative

• None.

Argus Mar 17 session

-2.71% close to close Open Argus

Details

News Market Reaction – NFGC

On Mar 17, the day this news came out, NFGC closed 2.71% below the previous close.

Data tracked by StockTitan Argus for the Mar 17 session.

Key Figures

Project ownership: 100% owned NI 43-101 standard: NI 43-101 Report effective date: February 18, 2026

Project ownership

100% owned

Hammerdown Gold Project interest described in the technical report filing

NI 43-101 standard

NI 43-101

Technical report filed under NI 43-101 mineral project disclosure rules

Report effective date

February 18, 2026

Effective date of Hammerdown Gold Project technical report

Historical Context

5 past events · Latest: Mar 05

5 events

1. Mar 05

   Debt funding term sheet

   24h Move

   -3.9%

   Announced up to US$75M senior secured facility to advance Queensway development.

2. Feb 26

   Hammerdown PEA release

   24h Move

   -5.7%

   Reported PEA and updated mineral resource estimate for Hammerdown Gold Project.

3. Feb 02

   Queensway drill results

   24h Move

   +0.7%

   Released additional high‑grade grade-control results from Keats zone at Queensway.

4. Jan 26

   EPCM contract Queensway

   24h Move

   +0.6%

   Entered Phase 1 EPCM contract with WSP Canada to advance Queensway project.

5. Jan 21

   Drill program restart

   24h Move

   -1.6%

   Restarted 2026 Queensway drill program and reported K2 infill drilling results.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

ni 43-101, technical report, preliminary economic assessment, sedar+, +2 more

6 terms

ni 43-101 regulatory

"filed in accordance with National Instrument 43-101 – Standards of Disclosure"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

technical report technical

"the Company has filed a technical report for its 100% owned Hammerdown"

A technical report is a detailed, expert-written document that explains the methods, data, results and risks behind a company’s engineering, scientific or operational claim — for example estimates of resources, product testing, or project feasibility. Investors use it like an independent inspection or blueprint: it reveals how solid the underlying work is, what assumptions were made and what could go wrong, helping assess value and risk before committing money.

preliminary economic assessment technical

"Hammerdown Gold Project Preliminary Economic Assessment, Newfoundland and Labrador, Canada"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

sedar+ regulatory

"available under the Company's SEDAR+ profile at www.sedarplus.ca"

SEDAR+ is Canada’s centralized online system where publicly traded companies submit required regulatory documents such as financial reports, prospectuses and disclosure statements. It gives investors a single, searchable place — like a public library or online filing cabinet — to check a company’s official records for transparency, compare performance, and verify material information before making investment decisions.

edgar regulatory

"and on the EDGAR system of the SEC at www.sec.gov"

EDGAR is a system used by companies to share important financial and business information with the public. It functions like an online filing cabinet where investors can access official reports and documents that help them understand a company's financial health and operations. This transparency allows investors to make more informed decisions, much like checking a company's report card before investing.

qualified person regulatory

"each a "Qualified Person" as defined under NI 43-101 and independent"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce that, further to its press release dated February 26, 2026, the Company has filed a technical report for its 100% owned Hammerdown Gold Project ("Hammerdown"), titled: "New Found Gold Corp. Hammerdown Gold Project Preliminary Economic Assessment, Newfoundland and Labrador, Canada", with an effective date of February 18, 2026 (the "Technical Report").

The Technical Report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). A copy of the Technical Report is available under the Company's SEDAR+ profile at www.sedarplus.ca and on the EDGAR system of the SEC at www.sec.gov.

The Technical Report was prepared by WSP Canada Inc. and authored by: Stephen Coates, P.Eng., Christian Beaulieu, P.Geo., Michael Levy, P.Eng., Chafana Hamed Sako, P.Geo., James Guiraud, P.Geo., Stacy J. Freudigmann, P.Eng., Sheldon H. Smith, P.Geo., J. Alex Mcintyre, P.Eng., Neil J. Lincoln, P.Eng., Dachun (David) Jin, P.Eng. and William Richard McBride, P.Eng., each a "Qualified Person" as defined under NI 43-101 and independent of New Found Gold.

About New Found Gold Corp.

New Found Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in the Queensway Gold Project ("Queensway") and Hammerdown, which includes the Hammerdown deposit and Pine Cove milling and tailings facilities. The Company is currently focused on advancing its flagship Queensway to production and bringing the Hammerdown deposit into commercial gold production.

In July 2025, the Company completed a PEA at Queensway (see New Found Gold press release dated July 21, 2025). Recent drilling continues to yield new discoveries along strike and down dip of known gold zones, pointing to the district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway.

Throughout 2025, New Found Gold built a new board of directors and management team and has a solid shareholder base which includes cornerstone investor Eric Sprott. The Company is focused on growth and value creation.

Keith Boyle, P.Eng.
Chief Executive Officer
New Found Gold Corp.

Contact

For further information on New Found Gold contact us through our investor inquiry form at https://newfoundgold.ca/contact/contact-us/ or contact:

Fiona Childe, Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (416) 910-4653
Email: contact@newfoundgold.ca

Follow us on social media at https://www.linkedin.com/company/newfound-gold-corp and https://x.com/newfoundgold.

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.

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 Information

This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements including statements regarding advancing Queensway to production and bringing Hammerdown deposit into commercial gold production; statements regarding recent drilling results and district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on growth and value creation. 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", "encouraging", "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 the Company's ability to complete exploration and drilling programs as expected, 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 results and the results of the metallurgical testing 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288726

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When was the Hammerdown Gold Project NI 43-101 technical report effective (NFGC)?

The technical report is effective February 18, 2026. According to New Found Gold, the report’s effective date is Feb 18, 2026 and it was filed publicly on March 17, 2026.

Where can investors access the Hammerdown PEA technical report for NFGC?

Investors can access the report on SEDAR+ or the SEC EDGAR system. According to New Found Gold, copies are available under the company profile at sedarplus.ca and sec.gov.

Who prepared the Hammerdown Preliminary Economic Assessment filed by New Found Gold (NFGC)?

The report was prepared by WSP Canada Inc. and authored by independent Qualified Persons. According to New Found Gold, multiple P.Eng. and P.Geo. professionals authored the Technical Report.

What does filing an NI 43-101 Technical Report mean for NFGC shareholders?

Filing an NI 43-101 report provides a standardized technical disclosure for the Hammerdown project. According to New Found Gold, the filing discloses assessment details prepared by independent Qualified Persons for investor review.