Welcome to our dedicated page for New Found Gold news (Ticker: NFGC), a resource for investors and traders seeking the latest updates and insights on New Found Gold stock.
New Found Gold Corp. reports developments for an emerging Canadian gold company with assets in Newfoundland and Labrador. The company holds 100% interests in the Queensway Gold Project and Hammerdown Gold Project, including the Hammerdown deposit and Pine Cove milling and tailings facilities.
Recurring updates focus on drill results, mineralization continuity and zone expansion at Queensway, including the AFZ Core, Keats, Iceberg, Keats West and Dropkick areas along the Appleton Fault Zone. Company news also covers grade-control work, mine-planning support, NI 43-101 technical reports and preliminary economic assessments, common-share financings, development financing arrangements and annual disclosure filings.
New Found Gold (NYSE-A: NFGC) has announced significant leadership changes to strengthen its board and management team as it progresses toward becoming an emerging Canadian gold producer. The company has appointed Dr. Andrew Furey, former Premier of Newfoundland and Labrador, as an independent Director, bringing valuable governmental and policy expertise to the board.
Additionally, the company has named Hashim Ahmed as CFO, bringing 25 years of financial management experience, and promoted Robert Assabgui from Study Manager to COO, leveraging his extensive mining operations background. These appointments come as Vijay Mehta steps down from his Director role and Michael Kanevsky transitions out of his CFO position.
New Found Gold (NYSE-A: NFGC) has announced its participation in three major mining conferences: the Precious Metals Summit in Beaver Creek (September 9-12, 2025), Mining Forum Americas 2025 in Colorado Springs (September 14-17, 2025), and the Munich Mining Conference in Germany (October 3-4, 2025).
CEO Keith Boyle and VP Communications Fiona Childe will represent the company, discussing their recent Maritime Resources Corp. combination, Queensway Gold Project expansion, and Preliminary Economic Assessment. The conferences will feature presentations and one-on-one meetings with institutional investors, mining specialists, and private equity funds.
New Found Gold (NYSE-A: NFGC) has entered into a property purchase agreement to acquire mineral claims from Exploits Discovery Corp., significantly expanding its Queensway Gold Project in Newfoundland. The acquisition will increase the project size by 33% to 234,050 hectares.
The transaction involves 2,821,556 common shares issued to Exploits, with an additional 725,543 shares pending court determination of disputed claims. The deal includes a 1% NSR Royalty, with NFGC retaining the right to purchase 0.5% for CDN$750,000 within three years. The acquisition adds 20 km of strike extent along the main gold-mineralizing structures and requires 66.67% approval from Exploits shareholders, with closing expected in Q4 2025.
New Found Gold (NYSE-A: NFGC) has entered into a definitive agreement to acquire Maritime Resources in an all-stock transaction valued at approximately $292 million. Under the agreement, Maritime shareholders will receive 0.75 New Found Gold shares for each Maritime share, representing a 32% premium based on the 20-day VWAP.
The strategic combination creates a multi-asset near-term gold producer in Newfoundland, Canada. Maritime's Hammerdown Gold Project is expected to begin production in early 2026, while New Found Gold's Queensway Project targets Phase I production in 2027. The merged entity will benefit from significant operational synergies, including access to Maritime's Pine Cove Mill and Nugget Pond facilities.
Post-transaction, existing New Found Gold and Maritime shareholders will own approximately 69% and 31% of the combined company, respectively, on a fully-diluted basis.
New Found Gold (NYSE-A: NFGC) has announced successful Phase III Metallurgical Testing Program results for its 100% owned Queensway Gold Project in Newfoundland and Labrador. The program confirmed 89.2% average gold recovery from Keats West zone master composite sulphide samples, validating the recovery rates used in their preliminary economic assessment (PEA).
Key findings include the production of a saleable gold concentrate with average grades of 37.9 g/t Au and 3.1% As. Additional testing on low-grade samples from Keats, Golden Joint, Lotto, and Iceberg zones achieved 87% average recoveries from rougher stage flotation. The company plans to commence Feasibility Study level metallurgical test work in Q4 2025, with results expected in H2/26.
New Found Gold (NYSE-A: NFGC) has successfully completed a C$20 million non-brokered private placement with Eric Sprott, issuing 12,269,939 common shares. Following this investment, Sprott's ownership in the company increased from 19.0% to 23.1% of outstanding shares, making him the company's largest shareholder and a new Control Person.
The shares have a four-month hold period expiring December 27, 2025. The proceeds will be used to advance the company's 100% owned Queensway Gold Project and for general corporate purposes. The transaction, approved by shareholders on August 20, 2025, demonstrates Sprott's confidence in the project and New Found Gold's new leadership team.
New Found Gold (NYSE-A: NFGC) announced key corporate developments and operational updates. The company held its Annual General and Special Meeting where shareholders approved the appointment of Tamara Brown to its Board of Directors, expanding the board to seven members. Shareholders also approved creating Eric Sprott as a new Control Person in connection with a C$20 million private placement at C$1.63 per share, expected to close by August 27, 2025.
Additionally, the company announced the restart of heavy equipment exploration activities at its 100% owned Queensway Gold Project in Newfoundland and Labrador, following a reduction in the Fire Weather Index. These activities, including drilling, mulching, and excavating, had been temporarily suspended due to regional forest fire risks.
New Found Gold (NYSE-A: NFGC) has announced a temporary suspension of heavy equipment exploration activities at its Queensway Gold Project in Newfoundland and Labrador, Canada, due to extreme forest fire risks in the region. The suspension affects drilling, mulching, and excavating operations in or near forested areas.
The decision comes as the Fire Weather index across Newfoundland is classified as Extreme or Very High, with several major fires currently burning in the province. CEO Keith Boyle expressed solidarity with local communities and gratitude to firefighters battling the blazes.
New Found Gold (NYSE-A: NFGC) has announced a Preliminary Economic Assessment (PEA) for its Queensway Gold Project in Newfoundland, Canada, outlining a 15-year mine life with total production of 1.5 million ounces of gold.
The project will be developed in three phases: Phase 1 requires $155 million initial capital for a small open-pit mine producing 69.3koz Au annually at US$1,282/oz AISC (Years 1-4). Phase 2 involves $442 million growth capital to expand production to 172.2koz Au annually at US$1,090/oz AISC (Years 5-9). Phase 3 adds underground mining operations.
The PEA demonstrates strong economics with an after-tax NPV(5%) of $743 million and IRR of 56.3% at US$2,500/oz gold. The project shows significant leverage to gold prices, with NPV increasing to $1.45 billion at US$3,300/oz gold. Initial production is targeted for 2027, pending regulatory approval.
New Found Gold (NYSE-A: NFGC) has announced significant drill results from its 2025 Work Program at the 100%-owned Queensway Gold Project in Newfoundland and Labrador. The drilling program revealed impressive high-grade gold intersections at the Keats West zone, including 55.0 g/t Au over 35.05m, 20.7 g/t Au over 18.05m, and 15.4 g/t Au over 16.70m.
The results confirm the continuity of multiple high-grade gold domains within Keats West, which has a mineralized footprint of 315m wide by 305m long. The mineralization starts at surface and extends to depths of 150m vertical. The company also identified new gold mineralization regions within the proposed Keats West open pit that are currently outside the mineral resource estimate (MRE) block model.
New Found Gold plans to continue infill drilling in H2/25, targeting remaining lower-grade material domains and expansion drilling in new mineralized areas. A preliminary economic assessment (PEA) is ongoing with completion targeted for early Q3/25.