New Found Intersects 21.12 g/t Au Over 7.20m, 79.81 g/t Au Over 3.00m & 119.45 g/t Over 2.40m at Keats Zone & Identifies New High-Grade Near Surface Mineralization

New Found Gold Corp. (“New Found” or the “Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce assay results from 45 diamond drill holes designed to expand the high-grade gold mineralization at the Keats discovery located within a 9.45km segment of the +100km regional-scale Appleton Fault Zone (‘AFZ’) on the northern portion of Queensway project that New Found is targeting with a 400,000m drill campaign. The Queensway project comprises an approximately +1500km2 area with initial exploration focus in areas accessed via the Trans-Canada Highway approximately 15km west of Gander, Newfoundland.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220411005332/en/

Figure 1: Left: Photo of mineralization from NFGC-22-491 at approximately 93m down hole depth. Right: Photo of mineralization from NFGC-21-421 at approximately 21m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-22-491 and NFGC-21-421 (Photo: Business Wire)

Figure 1: Left: Photo of mineralization from NFGC-22-491 at approximately 93m down hole depth. Right: Photo of mineralization from NFGC-21-421 at approximately 21m down hole depth. Note that these photos are not intended to be representative of gold mineralization in hole NFGC-22-491 and NFGC-21-421 (Photo: Business Wire)

Keats Highlights

Hole No.

From (m)

To (m)

Interval (m)1

Au (g/t)

 

 

 

 

 

KEATS HW

 

 

 

 

NFGC-21-254

136.85

139.55

2.70

9.35

Including

138.60

139.55

0.95

22.70

NFGC-21-392

47.15

52.90

5.75

7.21

Including

47.15

48.70

1.55

20.59

KEATS MAIN

 

 

 

 

NFGC-21-318

141.00

143.00

2.00

16.03

Including

141.00

142.00

1.00

31.60

NFGC-21-464

138.00

145.20

7.20

21.12

Including

139.55

141.80

2.25

61.36

NFGC-22-491

92.00

95.00

3.00

79.81

Including

92.45

94.35

1.90

124.56

KEATS FW

 

 

 

 

NFGC-21-342

138.65

144.55

5.90

6.66

Including

142.00

143.00

1.00

30.60

NFGC-21-375

181.60

184.00

2.40

119.45

Including

182.20

182.70

0.50

570.71

421

 

 

 

 

NFGC-21-421

19.00

22.55

3.55

4.49

And

26.30

31.15

4.85

7.85

Including

28.60

29.50

0.90

35.51

NFGC-21-467

66.15

68.40

2.25

4.31

Including

67.00

67.60

0.60

13.85

And

70.00

80.40

10.40

2.58

Table 1: Keats Drilling Highlights

1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. 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 2m consecutive dilution. 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. All composited intervals are provided in Table 2.

  • Reconnaissance drilling designed to test a possible southern extension of the Keats Main Zone intersected gold mineralization near surface including 4.49 g/t Au over 3.55m and 7.85 g/t Au over 4.85m in NFGC-21-421. This new discovery has been named the “421 Zone”. Step-out drilling from these initial holes returned intervals of 4.31 g/t Au over 2.25mand 2.58 g/t Au over 10.40m in NFGC-21-467 confirming that this fault zone dips southwest at approximately 50° and is host to high-grade gold. Drilling will continue to step-out on this structure and importantly, will also target its intersection along strike with the Keats Main Zone and the AFZ (Figures 1, 2, and 3).
  • Drilling into the footwall area located between the AFZ and the Keats-Baseline Fault continues to identify new veins and associated structures that contain high-grade gold, and this is well demonstrated by intercepts 119.45 g/t Au over 2.40m in NFGC-21-375 and 6.66 g/t Au over 5.90m in NFGC-21-342. The gold mineralization is hosted within a vein breccia and stockwork domain that trends approximately parallel to and is within the immediate footwall of the AFZ and appears to be spatially associated with the contact of a greywacke unit (Figures 3 and 7).
  • Significant high-grade gold mineralization identified in a region previously interpreted to form the hanging wall to the Keats-Baseline Fault Zone produces an important exploration target and also further advances the structural understanding of the Keats Zone. Highlight intercepts of 9.35 g/t Au over 2.70m in NFGC-21-254 and 7.21 g/t Au over 5.75m in NFGC-21-392 occur within two distinct structures that are adjacent to and crosscut the Keats Main Zone and are interpreted to be constituents of the broader damage zone associated with the Keats-Baseline Fault and appear to control domains of high-grade gold mineralization (Figures 3 and 7).
  • At the north end of Keats, recent drilling intersected a significant vein grading 79.81 g/t Au over 3.00m in NFGC-22-491 approximately 52m down-dip of NFGC-21-90 which previously reported 24.50 g/t Au over 3.85m (see March 16, 2021, news release). Follow-up drilling is underway to expand on this discovery (Figures 1, 2, 3 and 5).
  • A massive interval of brecciated, stylolitic and stockwork vein phases occurring within the dilational core of the Keats-Baseline Fault Zone was intersected by NFGC-21-464 and contained a grade of 21.12 g/t Au over 7.20m. The characteristics of this zone demonstrate that the south-west plunging, thickened and continuous domain of high-grade gold exists within a portion of the Keats Baseline Fault Zone that experienced significant volumes of gold mineralizing fluid flow. The intercept of 62.30 g/t Au over 2.00m in NFGC-21-387 (see February 24, 2022, news release) has traced this corridor over a length of 845m in a down-plunge direction. Exploration is currently working to expand this domain south (Figures 2, 3 and 6).

Melissa Render, P.Geo., VP Exploration for New Found, stated: “Significant model advancements have been made recently following the addition of a senior geologist to our New Found exploration team, with wizardry 3D-modelling skills that have greatly increased our understanding of the Keats Zone. This work has identified a multitude of high-priority target areas that will be the focus of upcoming drilling. The strength of the mineralizing system along the Keats-Baseline Fault Zone is exceptional based on the extensive amount of veining, alteration, brittle deformation and high-grade gold mineralization. Drills are working aggressively to continue to extend the Keats Main high-grade domain down plunge which now extends a length of approximately 845m. Drills are also turning to test for new structures and high-grade intersections like the 421 Zone in addition to the very underexplored west side of the AFZ that is also known to host high-grade gold mineralization. As noted previously, other orogenic deposit analogues with mineralizing systems adjacent to these deep crustal-scale structures such as the AFZ can extend to depths of +2km. Our drilling to date has focused above 300m vertical depth, with the deepest high-grade intercept to date at approximately 375m. Exploration along this 9.45 km segment of the +100km strike of the AFZ that New Found controls continues to build the evidence that a camp is emerging (Figure 4).”

Discussion

Mineralization at the Queensway Project is hosted by a fold-thrust sequence of northeast-striking, steeply dipping turbiditic sedimentary rocks deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. During this prolonged period of continued shortening, at least two regional-deformation zones developed and include the Appleton and JBP fault zones. The AFZ is interpreted to be a significant, deep-seated thrust fault, that strikes southwest across the full 100km+ length of the property and is likely the main conduit for the gold mineralizing fluids, much like the Cadillac-Larder Lake Fault Zone in the Abitibi.

As a result of progressive deformation, the brittle host stratigraphy developed an extensive network of gold-bearing fault zones enveloping the AFZ, the extents of which are not yet known. This structural relationship is well illustrated in Figure 4 and demonstrates the currently defined vein and associated fault orientations based on structural interpretation and drilling to date along the 2.6km corridor from Keats to Lotto. Higher-grades and widths of gold mineralization occur in areas where there was greater mineralizing fluid flow such as at structural intersections, at dilational openings within fault structures, and along lithological contacts where breakage occurs due to rheological differences in the compressional strength of contrasting sedimentary rock units.

The Company’s current interpretation is that the high-grade gold mineralization being drilled at Queensway was deposited by gold mineralizing fluids penetrating this highly fractured and deformed meta-sedimentary sequence forming an extensive mineralized corridor surrounding the deep crustal-scale fault network that forms the Appleton Fault Zone. A significant amount of the high-grade gold mineralization is interpreted to be epizonal in nature, having been emplaced when tectonic movements resulted in the explosive tapping of deep gold-rich magmatic fluids that rapidly precipitated gold as they migrated towards surface.

Keats

Mineralization at Keats is associated with a significant east-northeast striking and moderately southeast dipping brittle fault zone that developed adjacent to and trends at an oblique angle to the AFZ. Situated approximately 1.8km south of Lotto and 1.2km south of the Golden Joint discoveries, this fault forms an extensive damage zone that is discordant to the northeast striking and steeply dipping stratigraphy and controls the development of a complex network of high-grade gold vein arrays that are epizonal in character and exhibit breccia, stylolitic, and vuggy textures. The host rock units are comprised of an interbedded sequence of turbiditic shales and greywackes where lithological contrasts in part control domains of high-grade gold, however model advancements suggest the larger underlying control are dilational settings that experienced increased fluid flow that typically develop at structural intersections such as intersecting fault or vein segments. The Keats-Baseline Fault Zone expresses itself as a topographic low and interpretation of this low has traced it over approximately +2km strike length. At this stage, exploration has been largely focused within close proximity to the AFZ and has delineated a high-grade gold segment of the Keats-Baseline Fault over a strike length of approximately 660m, the high-grade southwest plunging dilational zone to approximately 845m while the deepest high-grade gold intercept to date is at a vertical depth of 375m.

Drillhole Details

Hole number

From (m)

To (m)

Interval (m)1

Au (g/t)

Zone

NFGC-21-216

27.75

30.30

2.55

1.48

Keats Main

And

44.35

46.50

2.15

1.40

NFGC-21-254

136.85

139.55

2.70

9.35

Keats HW

Including

138.60

139.55

0.95

22.70

And

182.95

185.00

2.05

1.19

Keats Main

And

205.40

207.50

2.10

8.18

Including

206.25

207.10

0.85

19.45

And

238.70

242.00

3.30

1.47

Keats FW

NFGC-21-269

379.40

381.85

2.45

2.38

Keats FW

NFGC-21-275

211.00

216.00

5.00

1.36

Keats Main

And

325.30

328.50

3.20

1.83

Keats FW

NFGC-21-2832

235.40

237.55

2.15

1.05

Keats Main

And2

239.30

246.85

7.55

1.21

And

253.40

255.45

2.05

1.08

And2

268.55

270.95

2.40

1.10

And*

272.35

274.55

2.20

6.96

Including

272.35

273.10

0.75

17.34

And

358.00

360.00

2.00

1.37

Keats FW

NFGC-21-300

264.00

266.00

2.00

1.15

Keats Main

NFGC-21-312

113.60

115.65

2.05

2.28

Keats Main

And2

150.10

156.60

6.50

17.59

Including

155.60

156.60

1.00

105.38

And2

160.00

163.20

3.20

1.14

NFGC-21-314A

254.40

256.70

2.30

1.50

Keats Main

NFGC-21-317

324.70

328.50

3.80

1.30

Keats Main

NFGC-21-318

101.05

103.25

2.20

1.48

Keats Main

And

141.00

143.00

2.00

16.03

Including

141.00

142.00

1.00

31.60

NFGC-21-323

177.55

181.00

3.45

2.70

Keats Main

And

280.00

282.55

2.55

1.08

Keats FW

NFGC-21-327

No Significant Values

Keats Main

And

393.00

395.00

2.00

1.04

Keats FW

NFGC-21-328

32.00

35.70

3.70

2.44

Keats Main

Including

35.20

35.70

0.50

13.30

And

65.35

67.65

2.30

1.04

And

141.05

143.40

2.35

2.36

Keats FW

And

149.00

151.25

2.25

1.19

NFGC-21-329

309.10

312.00

2.90

1.18

Keats Main

And

391.00

393.50

2.50

1.90

Keats FW

And

484.00

486.30

2.30

1.19

NFGC-21-342

53.95

56.00

2.05

2.63

Keats Main

And

138.65

144.55

5.90

6.66

Keats FW

Including

142.00

143.00

1.00

30.60

NFGC-21-346

133.40

135.40

2.00

1.11

Keats HW

NFGC-21-350

106.70

109.45

2.75

1.15

Keats HW

And

276.60

278.85

2.25

1.52

Keats Main

And

280.35

282.75

2.40

1.97

And

285.00

287.00

2.00

3.10

NFGC-21-354

119.85

122.45

2.60

1.13

Keats Main

And

141.75

143.85

2.10

3.86

And

159.60

161.60

2.00

6.18

Including

161.15

161.60

0.45

26.90

And

166.65

168.75

2.10

1.59

NFGC-21-356

No Significant Values

Keats Main

NFGC-21-363

227.00

229.25

2.25

1.12

Keats Main

NFGC-21-368

227.55

235.05

7.50

2.00

Keats Main

And

256.00

258.75

2.75

1.71

And

306.00

308.20

2.20

1.49

Keats FW

NFGC-21-369

220.70

223.35

2.65

1.24

Keats Main

NFGC-21-375

181.60

184.00

2.40

119.45

Keats FW

Including

182.20

182.70

0.50

570.71

NFGC-21-3782

84.80

87.00

2.20

1.68

Keats Main

And2

143.00

145.60

2.60

1.46

And

211.50

214.05

2.55

1.21

Keats FW

NFGC-21-383

41.00

44.00

3.00

2.03

Keats Main

And

67.15

70.00

2.85

1.10

And

104.45

115.15

10.70

1.25

And

204.25

206.45

2.20

3.83

Keats FW

Including

204.60

205.05

0.45

16.30

NFGC-21-392

43.20

45.50

2.30

1.10

Keats HW

And

47.15

52.90

5.75

7.21

Including

47.15

48.70

1.55

20.59

NFGC-21-393

193.80

196.05

2.25

1.28

Keats Main

And

241.60

244.55

2.95

1.19

NFGC-21-395

19.60

27.00

7.40

1.44

Keats Main

And

65.00

67.40

2.40

1.24

And

71.30

77.20

5.90

1.44

And

186.00

188.00

2.00

4.01

Keats FW

Including

186.00

186.70

0.70

10.60

NFGC-21-396

No Significant Values

Keats Main

NFGC-21-397

341.85

347.00

5.15

1.23

Keats Main

And

389.00

392.00

3.00

1.02

NFGC-21-412

41.65

44.90

3.25

1.58

Keats HW

NFGC-21-418

65.95

68.00

2.05

1.10

Keats HW

And

153.80

156.00

2.20

2.32

Keats Main

NFGC-21-419

259.60

262.00

2.40

2.65

Keats Main

NFGC-21-421

19.00

22.55

3.55

4.49

Keats HW

And

26.30

31.15

4.85

7.85

Including

28.60

29.50

0.90

35.51

And

32.95

37.00

4.05

1.21

And

39.30

41.65

2.35

3.85

And

51.00

53.65

2.65

1.36

And

116.60

120.00

3.40

1.13

NFGC-21-423

384.60

387.10

2.50

1.21

Keats FW

And

402.00

404.80

2.80

5.82

Including

403.00

404.00

1.00

12.85

NFGC-21-432

308.65

311.00

2.35

1.68

Keats Main

NFGC-21-439

No Significant Values

Keats Main

NFGC-21-444A

199.55

201.70

2.15

1.80

Keats HW

And

295.00

297.00

2.00

1.86

Keats Main

NFGC-21-457

No Significant Values

Keats Main

NFGC-21-464

138.00

145.20

7.20

21.12

Keats Main

Including

139.55

141.80

2.25

61.36

NFGC-21-465

No Significant Values

Keats Main

NFGC-21-467

66.15

68.40

2.25

4.31

Keats HW

Including

67.00

67.60

0.60

13.85

And

70.00

80.40

10.40

2.58

And

306.00

308.00

2.00

1.70

Keats FW

NFGC-21-469

No Significant Values

Keats Main

NFGC-22-477

No Significant Values

Keats Main

NFGC-22-491

92.00

95.00

3.00

79.81

Keats Main

Including

92.45

94.35

1.90

124.56

And

168.80

171.85

3.05

2.82

Keats FW

Table 2: Summary of composite results reported in this release for Keats Zone

1Note that the host structures are interpreted to be steeply dipping and true widths are generally estimated to be 60% to 95% of reported intervals. 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 2m consecutive dilution. 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.2Composite intervals previously reported.

Hole No.

Azimuth (°)

Dip (°)

Length (m)

UTM E

UTM N

NFGC-21-216

299

-46

251

658051

5427416

NFGC-21-254

299

-46

293

658119

5427290

NFGC-21-269

297

-56

425

658109

5427141

NFGC-21-275

299

-46

380

658159

5427260

NFGC-21-283

300

-45

392

658148

5427216

NFGC-21-300

299

-46

386

658091

5427191

NFGC-21-312

299

-47

209

658110

5427324

NFGC-21-314A

300

-45

332

658068

5427204

NFGC-21-317

300

-45

377

658132

5427138

NFGC-21-318

300

-45

200

658089

5427335

NFGC-21-323

300

-45

308

658156

5427305

NFGC-21-327

299

-46

425

658109

5427123

NFGC-21-328

298

-46

267

658045

5427361

NFGC-21-329

298.5

-46

505

658066

5427148

NFGC-21-342

300

-45

260

658018

5427377

NFGC-21-346

300

-45

401

658054

5427126

NFGC-21-350

300

-45

467

658032

5427167

NFGC-21-354

299

-46

215

658077

5427314

NFGC-21-356

299

-46

410

658096

5427102

NFGC-21-363

300

-45

284

658026

5427229

NFGC-21-368

299

-46

335

658209

5427273

NFGC-21-369

300

-45

320

657993

5427190

NFGC-21-375

300

-45

278

658011

5427352

NFGC-21-378

300

-45

330

657982

5427254

NFGC-21-383

120

-80

284

657987

5427371

NFGC-21-392

300

-42

281

657939

5427279

NFGC-21-393

299

-46

300

658119

5427261

NFGC-21-395

300

-42

248

657988

5427368

NFGC-21-396

300

-45

347

658078

5427169

NFGC-21-397

296

-57

488

658136

5427126

NFGC-21-412

325

-56

486

657887

5427017

NFGC-21-418

299

-46

287

658053

5427299

NFGC-21-419

300

-45

530

658035

5427195

NFGC-21-421

325

-56

452

657830

5427099

NFGC-21-423

298

-57

527

658107

5427094

NFGC-21-432

63

-85

380

657901

5427212

NFGC-21-439

298

-57

380

658349

5427388

NFGC-21-444A

325

-56

446

657799

5427004

NFGC-21-457

299

-47

379

658368

5427320

NFGC-21-464

299

-46

320

658193

5427391

NFGC-21-465

298

-57

371

658299

5427302

NFGC-21-467

325

-56

494

657825

5427070

NFGC-21-469

298

-57

428

658318

5427234

NFGC-22-477

299

-46

555

658138

5427048

NFGC-22-491

299

-46

206

658300

5427503

Table 3: Details of drill holes reported in this release

Queensway 400,000m Drill Program Update

Approximately 40% of the planned 400,000m program at Queensway has been drilled to date with approximately 19,120m of the core with pending assay results. Eleven core rigs are currently operating and New Found is targeting an increase in the drill count to 14 rigs.

Sampling, Sub-sampling, Laboratory and Discussion

True widths of the intercepts reported in this press release have yet to be determined but are estimated to be 60% to 95% of reported core lengths. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional variability in true width. Assays are uncut, and composite intervals are calculated using a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2m with a maximum of 2m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. All HQ split core assays reported were obtained by either complete sample metallic screen/fire assay or standard 30-gram fire-assaying with ICP finish at ALS Minerals in Vancouver, British Columbia, or by entire sample screened metallic screen fire assay at Eastern Analytical in Springdale, Newfoundland, except for drill hole NFGC-21-421 where whole core samples were submitted to Intertek Australia Perth for Chrysos PhotonAssayTM method as part of a test program; all three laboratories operate under a commercial contract with New Found. A selection of Chrysos PhotoAssayTM method samples are currently being assayed to extinction using traditional fire assay method for QC purposes, the results of this work will be reported once available. The complete sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 1.0 g/t Au. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 3% of sample pulps are sent to secondary laboratories for check assays. 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 news release has 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 technical content 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 news release dated April 11, 2022, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, 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 400,000m drill program at Queensway, now approximately 40% complete. The Company is well funded for this program with a current working capital balance of approximately $106 million.

Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.

Acknowledgements

New Found acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

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 securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling 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," "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 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 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 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.sedar.com for a more complete discussion of such risk factors and their potential effects.

Contacts

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: "Craig Roberts"

Craig Roberts, P.Eng., Chief Executive Officer

Email: croberts@newfoundgold.ca

Phone: +1 (845) 535-1486

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