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Ontario Ranks Second Globally, Overtakes Saskatchewan in New Fraser Mining Survey

Ontario has overtaken Saskatchewan as Canada’s top-ranked mining jurisdiction and now sits second globally for investment attractiveness, according to the Fraser Institute’s latest Annual Survey of Mining Companies.

The 2025 survey, based on responses from 256 industry participants evaluating 68 jurisdictions, ranks Ontario 2nd worldwide on the Investment Attractiveness Index (IAI), a sharp rise from 15th place in 2024.

Saskatchewan follows closely in 3rd place, while Nevada reclaimed the top global position.

The Fraser Institute’s Investment Attractiveness Index combines two core components: the Policy Perception Index (PPI) and the Best Practices Mineral Potential Index. Survey respondents consistently indicate that roughly 60 percent of investment decisions are driven by mineral potential and 40 percent by policy considerations.

Ontario’s ascent signals renewed investor confidence and the province’s growing role in critical minerals development. Saskatchewan, long considered a global uranium powerhouse, has placed in the global top 10 six times in the past seven years.

Among Canadian jurisdictions, four provinces ranked in the PPI global top 10 this year: Alberta (3rd), Ontario (5th), Newfoundland & Labrador (7th), and Saskatchewan (8th). However, when combining policy and mineral potential into the overall IAI, only Ontario and Saskatchewan cracked the global top 10.

As with last year’s iteration, permit timelines remain a key differentiator. Ontario performed relatively well in the Fraser sub-survey on exploration permitting, with 33 percent of respondents indicating they were able to obtain permits in less than two months and 67 percent within six months.

Globally, Nevada ranked first on both the IAI and the Policy Perception Index, while Botswana climbed to second on policy metrics.

South Australia, Western Australia, Arizona, Norway, Sweden, and Saudi Arabia also placed in the global top 10 on overall investment attractiveness.

At the other end of the spectrum, China ranked last—68th out of 68 jurisdictions—on both investment attractiveness and policy perception. Burkina Faso, Egypt, and several African and Latin American jurisdictions also populated the bottom 10.

In a press release following the survey results, Toronto-based IsoEnergy (TSX:ISO) pointed to strong placements across jurisdictions where it operates.

“We are encouraged to see several jurisdictions within IsoEnergy’s portfolio once again rank among the global leaders in the Fraser Institute’s 2026 survey. Saskatchewan’s sustained top-tier performance, together with Western Australia’s meaningful advancement this year, reinforces the geological quality and policy stability that underpin our asset base and guide our M&A strategy,” said CEO and Director Philip Williams.

“These results affirm our disciplined focus on advancing high-quality projects in tier one jurisdictions where we believe institutional capital can be allocated with confidence and long-term value can be responsibly created.”

The survey, now in its 27th year, was distributed to more than 2,300 managers and executives globally, with participating companies reporting exploration spending of US$4.2 billion in 2025.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Crypto Market Update: Iran Conflict Pushes Bitcoin Further Under US$67,000

Here’s a quick recap of the crypto landscape for March 2 as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin (BTC) was priced at US$66,270.44, down by 0.4 percent over the last 24 hours.

Bitcoin price performance, March 2, 2026.

Chart via TradingView

Ether (ETH) was priced at US$1,947.16, down by 1.8 percent over the last 24 hours.

Altcoin price update

  • XRP (XRP) was priced at US$1.35, down by 1.8 percent over 24 hours.
  • Solana (SOL) was trading at US$83.41, down by 1.8 percent over 24 hours.

Today’s crypto news to know

Bitcoin slips under US$67,000 as Iran tensions continue

Bitcoin drifted back below $67,000 late Sunday as uncertainty surrounding the Iran-Israel conflict continued to weigh on global risk assets.

The token was down roughly 1 percent over 24 hours, after swinging sharply in response to US-Israel air strikes on Iran and retaliatory activity across the region. Prices had plunged to around US$63,255 early Saturday during the initial shock, only to rebound above US$68,000 later that day amid unconfirmed reports about Iran’s leadership.

Meanwhile, Ether hovered near US$1,950 after tumbling roughly 10 percent in the immediate aftermath of the escalation.

Bitcoin remains down about 23 percent year-to-date and nearly 50 percent off its October peak of US$126,000, with some Wall Street analysts warning a move toward US$50,000 is possible before any durable recovery takes hold.

X lifts crypto ad ban

Social media platform X has reversed course on its crypto advertising policy, removing digital assets and gambling from its list of prohibited industries for paid promotions.

The change opens the door for influencers and key opinion leaders to monetize crypto content legally on the platform, provided they follow new disclosure rules. Under X’s updated Paid Partnership framework, posts created as part of a commercial arrangement must carry a clear “Paid Partnership” label.

“Undisclosed promotions hurt the integrity of the product and lead people to distrust the content they read on X,” said Nikita Bier, the company’s head of product, adding that the update is meant to encourage transparency and regulatory compliance.

Influencers remain responsible for adhering to applicable laws, including Federal Trade Commission guidelines on endorsements. While crypto is no longer banned from paid partnerships, the platform maintains distinctions between sponsored content and traditional advertising placements.

UAE security alert prompts crypto firms to shift to remote work

Major cryptocurrency exchanges in the United Arab Emirates (UAE) have moved staff indoors after the country entered a heightened security posture, with authorities reporting missile interceptions and aerial defense activity across parts of the Gulf.

Binance and Bybit instructed UAE-based employees to remain home and work remotely until further notice. Binance circulated a company-wide notice directing staff to avoid outdoor areas and stay clear of windows and open spaces.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Oil, LNG Prices Climb on Fears of Prolonged Hormuz Shutdown

Oil and gas prices surged Monday (March 2) after fresh military strikes between the US, Israel, and Iran rattled energy markets and brought shipping through the Strait of Hormuz close to a halt, raising fears of a wider supply shock.

Brent crude, the global oil benchmark, jumped as much as 10 percent to trade above US$82 per barrel before easing back toward US$79. US crude rose more than 6.5 percent, climbing nearly US$5 per barrel to around US$72.

Natural gas markets saw even sharper moves. European gas futures rocketed higher after QatarEnergy said it had suspended liquefied natural gas (LNG) production following what it described as “military attacks” on its facilities.

The company halted production after a drone targeted a facility in Ras Laffan Industrial City, according to Qatar’s Ministry of Defence. A separate drone reportedly struck a water tank at a power plant in Mesaieed. In Saudi Arabia, Aramco temporarily shut its Ras Tanura refinery after it was hit by a drone.

Tensions have centred on the Strait of Hormuz, the narrow waterway through which roughly 20 percent of the world’s oil and significant LNG volumes pass.

Shipping traffic through the strait has slowed dramatically.

The UK Maritime Trade Operations Centre reported that two vessels had been struck and that an “unknown projectile” exploded “in very close proximity” to a third. At least 150 tankers have reportedly dropped anchor beyond the strait, while major shipping companies paused or rerouted sailings.

‘Meanwhile, no LNG vessels have transited the Strait of Hormuz since Saturday, effectively cutting off around 20 percent of global LNG supply. Although there is no formal blockade, tankers remain anchored due to heightened security and insurance risks, intensifying supply concerns,’ an email from the Independent Commodity Intelligence Services (ICIS) noted.

Analysts say the disruption threatens around 120 billion cubic meters per year of LNG supply from Qatar and the UAE, volumes that are comparable to the gas Europe has lost from Russia since 2021.

Others warned that prices could climb much higher if the standoff persists. Some estimates suggest Brent could approach or exceed US$100 per barrel in the event of a prolonged closure.

OPEC+ spare capacity is largely located in the Gulf and would be difficult to access if shipping remains constrained. On Sunday (March 1), OPEC+ agreed to increase output by 206,000 barrels per day starting next month in an effort to cushion price rises.

However, any additional barrels would still need to transit through the region.

Gold, often viewed as a safe-haven asset during geopolitical turmoil, also rose by around 2 percent to US$5,378 per ounce.

Much now depends on whether energy infrastructure continues to be targeted and how long shipping disruptions persist.

“The jump in prices will feed through almost immediately because the oil traders are very much following the news too,” Robin Mills, chief executive of consultancy Qamar Energy, told BBC.

“At the moment, oil prices are not particularly high, they are still below where they were even two years ago so we’re not in full-blown oil crisis mode yet.”

The trajectory of prices, analysts say, will hinge on how much supply is ultimately disrupted, how long any other form of disruption lasts, and whether traffic through one of the world’s most critical energy chokepoints resumes in the coming days.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Vale CEO: Real Assets Gaining Traction as Money Shifts Away from Tech

With technology, energy and society set to undergo massive transformations over the next few decades, the mining sector may never have been more important than it is today.

Globally, demand for consumer electronics such as mobile phones, air conditioners and refrigerators is on the rise. Additionally, the energy needs and technological advancement associated with artificial intelligence (AI) and data centers are driving even more demand from commercial sectors.

However, the mining industry has been known for its heavy environmental footprint and complex relationships with local communities. As much of the world pushes towards a greener future, mining companies are increasingly integrating environmental and social responsibility as they operate mines and projects around the world.

In the opening keynote speech at the 2026 Prospectors & Developers Association of Canada convention in Toronto, Vale (NYSE:VALE) CEO Gustavo Pimenta, who joined the company in 2021 following one of the worst mining accidents in Brazil’s history, spoke about these challenges and the importance of addressing them.

Electrification continues driving minerals demand

Since the start of the third millennium, there has been a broad societal shift.

Not only has the Earth’s population exploded from about 6 billion in 2001 to over 8 billion today, but the needs of both developing and developed nations are changing and growing.

Increasingly, the populations in many developing nations are urbanizing, driving demand for the materials necessary to build and modernize the infrastructure, including electricity grids, needed to adequately support them.

Likewise, western desires and demands are also changing. Consumers are driving a transition to low-carbon and sustainable industries, while also moving toward more service- and tech-reliant economies.

These shifts in both developed and developing economies have one thing in common: they are not possible without the mining sector. However, it’s struggling to match the pace of demand growth.

“We’ll have to increase the supply of minerals in general by effect of five to six times, vis-a-vis everything with mining to date,” Pimenta said. He pointed out that without mining, there is no AI and no energy transition.

“Electrification is a massive theme and trend, the electrification of everything, that is driving so much of the copper excitement lately,” he added. However, Pimenta said it isn’t just copper demand that is increasing — he pointed to rising demand for other metals such as nickel, iron and rare earths.

Although demand for these commodities has been high, it’s only recently that more consumers are becoming aware of the important role they play in how electricity is delivered or how mobile phones are made.

For Pimenta, this has led to a disconnect, with NVIDIA (NASDAQ:NVDA) and its US$4.3 trillion market cap exceeding the US$3.8 trillion captured by the top 300 mining companies.

However, he sees some balance returning.

“That is certainly something that is imbalanced, and we started to see a little bit of that rebalance today with money moving away from tech into real, important assets like the commodity assets,” he said.

Evolving economic and environmental strategies for mining

As awareness increases alongside demand, there has been a greater pressure on mining companies to move beyond their checkered pasts and to recognize their own role in creating a sustainable, responsible industry.

Pimenta emphasized this point.

“We can’t just stand and have a conversation where we are telling people, ‘I’m sorry that you have to buy from me.’ We have to go beyond that. We have to move from being essential to something else,” he said.

He noted that his company, Vale, isn’t just focused on its operations in Canada or Brazil; it has operations in 31 countries, and the scope of its responsibility is global.

Pimenta suggested that the future of mining will require a different way of operating, and that some of the needed changes are already being implemented today, citing the adoption of technology and greater automation.

In terms of how Vale is progressing this at its own operations, the company’s use of these technologies led to its Brucutu mine in Brazil being awarded the Shingo prize for operational excellence.

This marked the first time the prize has been awarded to an operation in Latin America.

“That classification shows that moving towards that future not only is the right thing because it’s safe, but also it’s more productive and more efficient. I think we have to make sure we continue to accelerate that,” Pimenta said.

Another area of focus for Pimenta is for Vale to develop what he sees as the workforce of the future.

“They have to be able to deal with AI and find ways to be more productive,” he said. “So there’s a new workforce needed that coexists with the senior, experienced workforce that is already in the companies.”

While automation addresses some core safety and business case aspects of mining’s future, Pimenta also focused on environmental concerns as a central concern. Using the example of Vale’s Carajás operation, he explained how mining companies can offer protection to the lands on which they operate.

The site covers about 800,000 hectares, but because of an agreement it made with the Brazilian government in the 1980s, the company uses only 2 percent of the total area for its mining operations, and preserves everything else.

“What has happened to that area? Everything outside the area we protect has been devastated. We protect with technology, guards, a partnership with the Brazilian Federal Police, and a lot of investment,” Pimenta said.

He acknowledged that mines will impact the environment, and it may seem counterintuitive that companies like Vale can be stewards of the land in ways that governments can’t.

However, Vale’s own past hasn’t been without incident. In 2019, a tailings dam collapsed at its Brumadinho operation, sending 13 million cubic meters of mud and mining waste downstream, killing 272 people.

For his part, Pimenta didn’t shy away from this, and said it forced the company to reassess its operations.

“Today 5 percent of our production is without dams, dry stack infiltration, and that’s the way we will continue to move. We are doing more use of circularity. It’s cheaper, less environmental impact,” he said, noting the use of reprocessing of mine waste to gather more resources.

Additionally, Vale has also been working to reduce its carbon footprint. Pimenta stated that the company had been looking at several ways to do this including using ethanol in its trucks at its Brazilian mines instead of diesel.

However, mines are only one part of the equation for decarbonization, as even more carbon dioxide is emitted during the production of steel.

“The steel industry is still very dependent on fossil fuel, coal, and that’s how most of the production is based. We are working on two main fronts. The first is green solutions, new products that will help our clients to decarbonize,” he said.

One of these solutions is a new iron ore briquette that Pimenta says uses a cold agglomeration process that can reduce the carbon footprint when used in a blast furnace.

The second front Vale is focused on is the development of mega hubs to produce steel in regions that have cheap access to lower-carbon fuels like hydrogen.

Supporting local communities is key

Beyond the economics and the environmental concerns with mining, Pimenta says that mining companies hold social commitments to the communities in which they operate.

“Back in 2021, when I joined the company, we announced a target to lift 500,000 people out of poverty,” he said.

This goal drew a lot of questions from Vale shareholders who asked how much it would cost, and if this meant putting people on payroll. Pimenta explained Vale co-developed a methodology to help them address the specific needs of different communities where they operate.

“Sometimes it’s education, sometimes it’s job opportunities, sometimes they just need to eat to have another day,” he explained. “Today we can measure, we know the social security number of each one of the 52,000 people that, from international standards measurement, have been lifted out of poverty.”

Operations should go beyond mining and making money; they should also contribute positively to the community. If they do so, Pimenta says there could be a shift in how mining companies are perceived. Rather than being pariahs, he hopes they can become welcomed for the value they bring to people.

The company also has the goal of increasing the percentage of women in its workforce. “Diversity is another element that, despite people not talking about it, is important. It was important before, and it continues to be important,” he said.

Investor takeaway

Pimenta addressed early in his keynote that demand for resources is there, but access requires money — it’s started to flow, but he suggested that changing perceptions and approaches within the mining industry is critical.

While there has been a push from some to move away from initiatives like ESG, or diversity, equity and inclusion, the reality is that they’ve permeated the mining industry for a long time now.

Throughout the presentation, Pimenta laid out how these goals have not only become foundational to the way Vale operates, but they can also provide long-term economic benefits to mining companies.

Initiatives, such as greater automation, have made Vale’s operations more efficient, driving cost-effectiveness, while dry tailings have enabled the reprocessing of mining waste and the maximization of output.

Social programs can drive community involvement and help make the operations more desirable to the communities where they operate. This alone has been a bottleneck in permitting in many jurisdictions; if communities welcome mines, it can reduce significant red tape.

Likewise, a diversified workforce can create more jobs in the community while opening the industry to people who haven’t been accepted in the past, helping address another industry challenge: finding new workers.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Valeura Energy Inc. Announces Thailand to Prioritise Domestic Energy Supply

CALGARY, AB / ACCESS Newswire / March 3, 2026 / Valeura Energy Inc. (TSX:VLE,OTC:VLERF)(OTCQX:VLERF) (‘Valeura’ or the ‘Company’) acknowledges that Thailand’s Ministry of Energy has, by way of a press release, requested that domestic oil producers cooperate in supporting national energy security in Thailand, in light of disruptions to the normal supply of oil from the Middle East region. This request includes postponing any planned downtime of oil production facilities and temporarily suspending crude oil exports.

Valeura is seeking further clarification from the Ministry of Energy to ensure compliance with the request and to continue supporting Thailand’s economy with domestically-produced energy. Valeura anticipates that this new government action will not interfere with the Company’s ongoing operations in Thailand, and production is continuing as usual and in accordance with Valeura’s high standards for health, safety, and environmental stewardship.

Thailand’s local network of crude oil purchasers constitutes a viable market for Valeura’s crude oil, and includes both refiners and blenders who have direct experience with the Company’s particular crude oil streams. Typically, approximately one third of Valeura’s oil is sold into the domestic Thai market, and from time to time, each of Valeura’s oil streams have been sold within the domestic market.

Thailand is a net importer of oil, with approximately 92% of its daily crude oil requirements coming from foreign sources, predominantly the Middle East region (2025 data, Energy Policy and Planning Office, Ministry of Energy). Thailand has issued similar requests in response to geopolitical developments in the past, to support national energy security by temporarily mandating that domestically-produced petroleum remains within Thailand. Valeura is well-versed in responding to such requests and intends to comply, to support Thailand’s energy needs.

For further information, please contact:

Valeura Energy Inc. (General Corporate Enquiries) +65 6373 6940
Sean Guest, President and CEO
Yacine Ben-Meriem, CFO
Contact@valeuraenergy.com

Valeura Energy Inc. (Investor and Media Enquiries) +1 403 975 6752 / +44 7392 940495
Robin James Martin, Vice President, Communications and Investor Relations
IR@valeuraenergy.com

Contact details for the Company’s advisors, covering research analysts and joint brokers, including Auctus Advisors LLP, Beacon Securities Limited, Canaccord Genuity Ltd (UK), Cormark Securities Inc., Research Capital Corporation, Roth Canada Inc., and Stifel Nicolaus Europe Limited, are listed on the Company’s website at www.valeuraenergy.com/investor-information/analysts/.

About the Company

Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

Advisory and Caution Regarding Forward-Looking Information

Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as ‘anticipate’, ‘believe’, ‘expect’, ‘plan’, ‘intend’, ‘estimate’, ‘propose’, ‘project’, ‘target’ or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this news release includes, but is not limited to, the Company’s belief that the new government action will not interfere with the Company’s ongoing operations in Thailand; and the Company’s intent to comply with the government’s request, subject to further clarification.

Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; royalty rates and taxes; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

The forward-looking information contained in this new release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this new release is expressly qualified by this cautionary statement.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Valeura Energy Inc.

View the original press release on ACCESS Newswire

News Provided by ACCESS Newswire via QuoteMedia

This post appeared first on investingnews.com

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Bold Ventures Signs Agreement to Acquire 6 Key Claims Contiguous to its Joutel Property, Quebec

Bold Ventures Inc. (TSXV: BOL,OTC:BVLDF) (the ‘Company’ or ‘Bold’) is pleased to announce that it has signed an agreement dated February 27, 2026 (the ‘Vending Agreement’) with 2099840 Ontario Inc. oa Emerald Geological Services (‘EGS’) to acquire 6 staked mining claims (the ‘Additional Claims’) contiguous to its Joutel Property, located 140 km northwest of Val d’Or, Quebec in consideration for the issuance of 750,000 common shares of the Company to EGS (the ‘Transaction’). EGS is a non-arm’s length party controlled by Bruce MacLachlan, President and COO of Bold, and Coleman Robertson, VP Exploration of Bold. The Additional Claims cover versatile time-domain electromagnetic (VTEMTM) geophysical anomalies from a 2012 survey carried out on the Joutel Property by Bold. Anomalous area 3B (see Figure 1) is associated with historical diamond drill hole intercepts of 0.83% Nickel over 3.7 metres including 1.27% nickel over 2.3 metres, as well as 0.51 gt gold over 3.05 metres (see Figure 2). The Vending Agreement and Transaction are subject to the approval of the TSX Venture Exchange.

Bold CEO David Graham commented that ‘we are pleased to have re-assembled our Joutel claims. Our 2012 VTEM survey outlined a number of anomalies that we believe are prospective for Nickel (Ni), Copper (Cu), Zinc (Zn), Gold (Au) and Silver (Ag). We are excited to explore these anomalies to generate what we anticipate will be high potential drill targets.’

Bruce MacLachlan, President and COO of Bold Ventures and President and CEO of EGS, stated: ‘The proposed acquisition of the EGS claims is a major step forward for Bold’s Joutel project, which will become a consolidated land package of 58 claims comprising 3217 hectares covering numerous geophysical anomalies associated with known base and precious metal mineralization. We anticipate a ground geophysical survey this winter to better define these geophysical anomalies in advance of drilling.’

The transaction is a related party transaction as EGS is a non-arm’s length party controlled by Bruce MacLachlan and Coleman Robertson, two insiders of the Company. The related party transaction is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (‘MI 61-101‘) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to EGS does not exceed 25% of its market capitalization.


Figure 1: Joutel property claims on 2012 VTEMTM conductors.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/285801_7b9b5a63046319eb_001full.jpg


Figure 2: Historical diamond drill hole intersections on EGS claims

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/285801_7b9b5a63046319eb_002full.jpg

About the Joutel Property

The Joutel claim group of Bold Ventures Inc. (‘Bold‘) is located approximately 140 km northwest of the city of Val d’Or, Québec, and 6 kilometres south-southeast of the historical mining town of Joutel, Québec, in Poirier and Dalet Townships (see Figure 3). The property currently consists of 52 staked claims.

The property area was previously worked by Bold in 2012, when Bold flew a versatile time domain electromagnetic (VTEMTM) survey over the area. Bold let the Additional Claims lapse in 2014 and the Additional Claims were acquired by EGS before Bruce MacLachlan and Coleman Robertson became insiders of Bold. In the northern part of the current property, the 2012 survey identified anomalous area 3B which is spatially associated with historical values in diamond drill core of 0.83% nickel over 3.7 metres including 1.27% nickel over 2.3 metres, as well as 0.51 g/t gold over 3.05 metres (see Figure 1 and Figure 2). Historical holes also intersected anomalous copper and zinc. In the southern part of the property where anomalous areas 3C and 3D were identified by the airborne survey, there is one drill hole totaling 155 meters recorded in the Quebec drillhole database (https://sigeom.mines.gouv.qc.ca).

Known deposits within 11 kilometres of the northern property boundary include the past-producing Joutel gold mine, the Poirier base metal mine, the Joutel copper deposit, and the Explo-Zinc base metal deposit (see Figure 3). For more information refer to the Joutel Property information page on Bold’s website.


Figure 3: Joutel property nearby deposits

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5762/285801_7b9b5a63046319eb_003full.jpg

The technical information in this news release was reviewed and approved by Coleman Robertson, B.Sc., P. Geo., the Company’s V.P. Exploration and a qualified person (QP) for the purposes of NI 43-101.

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.

About Bold Ventures Inc.

The Company explores for Precious, Battery and Critical Metals in Canada. Bold is exploring properties located in active gold and battery metals camps in the Thunder Bay and Wawa regions of Ontario. Bold also holds significant assets located within and around the emerging multi-metals district dubbed the Ring of Fire region, located in the James Bay Lowlands of Northern Ontario.

For additional information about Bold Ventures and our projects please visit boldventuresinc.com or contact us at 416-864-1456 or email us at info@boldventuresinc.com.

‘Bruce A MacLachlan’
Bruce MacLachlan 
President and COO 		 ‘David B Graham’
David Graham
CEO

 

Direct line: (705) 266-0847

Email: bruce@boldventuresinc.com

Neither 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.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘plan’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’ and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

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New Found Gold Grade Control Drilling Continues to Deliver At-Surface High Grade Gold over Broad Widths at Queensway:

71.8 g/t Au over 31.95 m and 76.6 g/t Au over 16.00 m at Iceberg 51.3 g/t Au over 3.40 m and 11.8 g/t Au over 9.95 m at Keats

New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) (‘New Found Gold’ or the ‘Company’) is pleased to announce the final results of the Company’s 2025 grade control drill program on its 100%-owned Queensway Gold Project (‘Queensway’ or the ‘Project’) in Newfoundland and Labrador, Canada, including results from the Keats zone (‘Keats’) and Iceberg zone (‘Iceberg’) excavations in the AFZ Core (‘AFZC’), completed as part of the Company’s 2025 drill program.

Iceberg excavation highlights include:

  • 71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)[1]
  • 76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)
  • 44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)
  • 35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)
  • 31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)
  • 40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)
  • 41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)
  • 55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)
  • 43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)

 

Keats excavation highlights include:

  • 51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)
  • 11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)
  • 9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)
  • 15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)
  • 40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)
  • 16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)

 

Melissa Render, President of New Found Gold stated: ‘These final results from our highly successful 2025 grade control drill program at the Keats and Iceberg excavations continue to deliver consistently high gold grades over broad widths, returning some of the best intercepts we have drilled to date at Queensway. We continue to systematically de-risk Queensway, as demonstrated by the continuity of high-grade gold mineralization in these at-surface zones targeted for early open pit mining in our 2025 PEA Phase 1 mine plan.’

Work Summary

The results presented in this release include the final 907 m of drilling in 32 diamond drill holes (‘DDH‘) from the Keats excavation (‘KEGCDP‘) and the entirety of the 2,390 m of drilling in 40 DDH from the Iceberg excavation (‘IEGCDP‘) 2025 grade control drill program (Figures 1 to 4). The KEGCDP and IEGCDP were designed to improve confidence in the distribution of high-grade, near- to at-surface gold mineralization and support mine planning as outlined in the 2025 Preliminary Economic Assessment (‘PEA‘) Phase 1 open pits (see the New Found Gold press release dated July 21 2025). Drill highlights, along with detailed results for these 72 DDH, are provided in Tables 1 to 3 below.

The full KEGCDP comprises 2,773 m in 84 DDH; for the previously reported KEGCDP results see the New Found Gold press releases dated December 1, 2025 and February 2, 2026 and highlights below. The full IEGCDP comprises 2,390 m of drilling in 40 DDH and all results are reported in this press release.

The KEGCDP tested a volume that is approximately 65 m long by 30 m deep by 40 m wide and the IEGCDP a volume that is approximately 60 m long by 35 m deep by 40 m wide with a drill spacing of 5 m by 5 m and includes the near- to at-surface high-grade portions of Keats and Iceberg that were exposed as part of the Company’s excavation programs (see the New Found Gold press releases dated September 23, 2024, December 2, 2024, September 25, 2025, December 1, 2025 and February 2, 2026).

Results released to date correlate well with the initial mineral resource estimate (‘MRE‘) block model and indicate strong continuity of -high grade mineralized shoots at both Keats and Iceberg, providing improved definition of their geometry, with most intervals occurring at or within a few meters of surface. The detailed geostatistical data from this phase of work will further validate the resource models, specifically by increasing confidence in grade-capping and influence-limiting parameters applied to high-grade intersections in advance of a MRE update and subsequent mine planning.

The Keats and Iceberg zones are hosted within the Keats-Baseline Fault Zone (‘KBFZ‘), a high-grade gold-bearing structure that has been defined over a current strike length of 1.9 kilometres (‘km‘). This corridor consists of a broad mineralized fault zone with limited deep drill testing to date. Drilling completed in 2024 confirms that the system extends to vertical depths of up to 1.1 km (see the New Found Gold press releases dated July 11, 2024, October 31, 2024, and April 29, 2025).


Figure 1: Plan view map of the AFZC with location of Keats and Iceberg excavation grade control drill programs.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_001full.jpg

  • Iceberg excavation grade control drill program (this press release):
    • 71.8 g/t Au over 31.95 m from 37.80 m (NFGC-25-GC-069)
    • 76.6 g/t Au over 16.00 m from 51.45 m (NFGC-25-GC-055)
    • 44.4 g/t Au over 21.55 m from 13.40 m (NFGC-25-GC-072)
    • 35.4 g/t Au over 21.20 m from 34.95 m (NFGC-25-GC-061)
    • 31.6 g/t Au over 18.65 m from 3.60 m (NFGC-25-GC-106)
    • 40.6 g/t Au over 12.70 m from 40.35 m (NFGC-25-GC-118)
    • 41.1 g/t Au over 11.40 m from 40.40 m (NFGC-25-GC-079)
    • 55.4 g/t Au over 8.30 m from 21.75 m (NFGC-25-GC-107)
    • 43.2 g/t Au over 19.85 m from 16.80 m (NFGC-25-GC-082)
    • 22.6 g/t Au over 17.55 m from 50.45 m (NFGC-25-GC-050)
    • 30.4 g/t Au over 12.90 m from 8.00 m (NFGC-25-GC-112)
    • 11.9 g/t Au over 27.55 m from 27.65 m (NFGC-25-GC-097)
    • 27.3 g/t Au over 11.70 m from 48.90 m (NFGC-25-GC-084)
    • 27.8 g/t Au over 11.45 m from 38.85 m (NFGC-25-GC-067)
    • 120 g/t Au over 2.60 m from 17.15 m (NFGC-25-GC-109)
    • 11.6 g/t Au over 26.15 m from 31.30 m (NFGC-25-GC-058)
    • 30.9 g/t Au over 9.00 m from 32.30 m (NFGC-25-GC-064)
    • 28.1 g/t Au over 9.15 m from 45.15 m (NFGC-25-GC-048)
    • 18.4 g/t Au over 12.85 m from 38.45 m (NFGC-25-GC-076)
    • 26.7 g/t Au over 8.05 m from 16.45 m (NFGC-25-GC-119)
    • 7.56 g/t Au over 23.85 m from 48.15 m (NFGC-25-GC-052)
    • 6.77 g/t Au over 20.05 m from 54.70 m (NFGC-25-GC-046)
    • 12.0 g/t Au over 11.05 m from 33.30 m (NFGC-25-GC-059)
    • 8.55 g/t Au over 15.40 m from 25.40 m (NFGC-25-GC-109)
    • 12.8 g/t Au over 10.10 m from 28.80 m (NFGC-25-GC-113)
    • 13.0 g/t Au over 9.90 m from 13.45 m (NFGC-25-GC-122)
    • 8.26 g/t Au over 12.55 m from 63.00 m (NFGC-25-GC-087)
    • 11.1 g/t Au over 9.05 m from 14.40 m (NFGC-25-GC-123)
    • 16.9 g/t Au over 4.15 m from 29.60 m (NFGC-25-GC-121)
    • 5.17 g/t Au over 12.40 m from 17.00 m (NFGC-25-GC-124)
    • 6.70 g/t Au over 9.20 m from 42.80 m (NFGC-25-GC-087)
    • 8.38 g/t Au over 6.85 m from 15.35 m (NFGC-25-GC-074)
    • 15.5 g/t Au over 3.65 m from 71.95 m (NFGC-25-GC-043)
    • 3.88 g/t Au over 13.10 m from 31.15 m (NFGC-25-GC-074)
    • 17.5 g/t Au over 2.80 m from 40.95 m (NFGC-25-GC-084)
    • 20.1 g/t Au over 2.35 m from 69.80 m (NFGC-25-GC-085)
    • 18.0 g/t Au over 2.30 m from 41.80 m (NFGC-25-GC-085)
    • 15.0 g/t Au over 2.70 m from 23.75 m (NFGC-25-GC-058)
    • 19.7 g/t Au over 2.05 m from 4.35 m (NFGC-25-GC-122)
    • 13.3 g/t Au over 2.85 m from 69.15 m (NFGC-25-GC-048)
    • 14.3 g/t Au over 2.60 m from 12.60 m (NFGC-25-GC-107)
    • 11.9 g/t Au over 2.80 m from 65.20 m (NFGC-25-GC-079)
    • 2.21 g/t Au over 11.55 m from 14.10 m (NFGC-25-GC-079)
    • 11.7 g/t Au over 2.20 m from 57.35 m (NFGC-25-GC-079)
  • Keats excavation grade control drill program (this press release):
    • 51.3 g/t Au over 3.40 m from 54.60 m (NFGC-25-GC-115)
    • 11.8 g/t Au over 9.95 m from 13.20 m (NFGC-25-GC-065)
    • 9.73 g/t Au over 11.30 m from 9.75 m (NFGC-25-GC-063)
    • 15.9 g/t Au over 5.85 m from 4.90 m (NFGC-25-GC-115)
    • 40.3 g/t Au over 2.25 m from 23.95 m (NFGC-25-GC-068)
    • 16.9 g/t Au over 3.90 m from 1.00 m (NFGC-25-GC-071)
    • 4.22 g/t Au over 10.35 m from 5.65 m (NFGC-25-GC-066)
    • 2.56 g/t Au over 15.95 m from 0.00 m (NFGC-25-GC-100)
    • 14.5 g/t Au over 2.45 m from 10.00 m (NFGC-25-GC-096)
    • 1.41 g/t Au over 20.25 m from 20.45 m (NFGC-25-GC-102)
    • 1.73 g/t Au over 15.45 m from 4.20 m (NFGC-25-GC-062)
    • 2.37 g/t Au over 10.60 m from 23.70 m (NFGC-25-GC-111)


Figure 2: Keats and Iceberg excavations with grade control drill hole highlights.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_002full.jpg


Figure 3: Keats longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_003full.jpg


      Figure 4:       Iceberg longitudinal section view of grade control drill hole traces (looking northwest, +/- 12.5 m).

      To view an enhanced version of this graphic, please visit:
      https://images.newsfilecorp.com/files/7337/285803_de2d97bbf46729b2_004full.jpg

      Looking Ahead

      The 2025 Queensway drill program included 74,377 m of drilling in 614 DDH, with approximately 75% of the drilling focused on the AFZC to support advancement of the Phase 1 mine plan as outlined in the PEA and 25% focused on exploration targets such as the Dropkick zone (‘Dropkick‘). To date, approximately 45% of the results from 2025 drilling remain outstanding, in addition to channel sampling results from the Lotto excavation. These results will be reported once available.

      The 2026 Queensway drill program is underway, with four drill rigs currently active (see the New Found Gold press release dated January 21, 2026). Initial 2026 infill drilling is planned to first target PEA Phase 2 open pit resource conversion, transitioning later in the year to PEA Phase 3 underground resource conversion.

      The Company plans to expand its grade control drilling beginning in Q2/26. The next phase of work will leverage results from the 2025 program to optimize drill hole spacing and program scope. This will include completing grade-control drilling at the Iceberg excavation, commencing grade-control drilling at the Lotto excavation and potentially expanding the grade-control drilling at the Keats and Iceberg excavations. The objective of this work is to improve confidence in the distribution of gold mineralization and support mine planning as outlined for the PEA Phase 1 open pits.

      Exploration drilling will focus on AFZC resource expansion including an initial grid-based program targeting the prospective corridor adjacent to the AFZ at Bullseye, continued step-outs at Dropkick, located 11 km north of the AFZC, and targeted segments of the AFZ at AFZ Peripheral. A regional drilling program testing advanced targets at Queensway South is in the planning phase and expected to commence in H2/26.

      The Company plans to file an updated Technical Report for Queensway, which will include an updated mineral resource estimate, in Q3/26

      Table 1: Drill Result Highlights.

      KEATS MAIN EXCAVATION
      Hole No. From (m) To (m) Interval (m) Au (g/t) True Width (%) Zone
      NFGC-25-GC-062 4.20 19.65 15.45 1.73 70-95 Keats Excavation
      NFGC-25-GC-063 9.75 21.05 11.30 9.73 70-95 Keats Excavation
      Including 14.50 15.50 1.00 92.27 70-95
      NFGC-25-GC-065 13.20 23.15 9.95 11.81 55-85 Keats Excavation
      Including 13.20 14.10 0.90 111.64 55-85
      NFGC-25-GC-066 5.65 16.00 10.35 4.22 70-95 Keats Excavation
      Including 5.65 6.20 0.55 23.75 70-95
      Including 10.10 11.10 1.00 24.78 70-95
      NFGC-25-GC-068 23.95 26.20 2.25 40.34 70-95 Keats Excavation
      Including 24.40 24.80 0.40 167.68 70-95
      Including 25.20 25.50 0.30 70.49 70-95
      NFGC-25-GC-071 1.00 4.90 3.90 16.91 35-65 Keats Excavation
      Including 1.85 3.40 1.55 38.19 35-65
      NFGC-25-GC-096 10.00 12.45 2.45 14.45 65-95 Keats Excavation
      Including 11.40 11.75 0.35 91.40 65-95
      NFGC-25-GC-100 0.00 15.95 15.95 2.56 70-95 Keats Excavation
      Including 9.40 9.85 0.45 20.86 70-95
      NFGC-25-GC-102 20.45 40.70 20.25 1.41 30-60 Keats Excavation
      Including 29.65 30.30 0.65 14.98 30-60
      NFGC-25-GC-111 23.70 34.30 10.60 2.37 65-95 Keats Excavation
      Including 29.40 30.15 0.75 11.27 65-95
      NFGC-25-GC-115 4.90 10.75 5.85 15.85 60-90 Keats Excavation
      Including 4.90 5.35 0.45 199.16 60-90
      And 54.60 58.00 3.40 51.30 70-95
      Including 54.60 55.20 0.60 31.18 70-95
      Including 55.55 56.10 0.55 278.07 70-95
       
      ICEBERG EXCAVATION
      Hole No. From (m) To (m) Interval (m)* Au (g/t) True Width (%) Zone
      NFGC-25-GC-043 71.95 75.60 3.65 15.51 25-55 Iceberg Excavation
      Including 73.85 75.60 1.75 28.81 25-55
      NFGC-25-GC-046 54.70 74.75 20.05 6.77 40-70 Iceberg Excavation
      Including 72.50 73.30 0.80 87.06 40-70
      Including 74.00 74.75 0.75 44.69 40-70
      NFGC-25-GC-048 45.15 54.30 9.15 28.07 70-95 Iceberg Excavation
      Including 50.70 53.20 2.50 97.72 70-95
      And 69.15 72.00 2.85 13.31 70-95
      Including 69.15 70.00 0.85 11.37 70-95
      Including 71.00 72.00 1.00 20.37 70-95
      NFGC-25-GC-050 50.45 68.00 17.55 22.63 55-85 Iceberg Excavation
      Including 51.20 53.10 1.90 65.51 55-85
      Including 53.60 54.40 0.80 27.50 55-85
      Including 56.80 57.20 0.40 162.33 55-85
      Including 57.80 58.70 0.90 36.99 55-85
      Including 63.90 66.40 2.50 31.79 70-95
      Including 66.80 68.00 1.20 45.11 70-95
      NFGC-25-GC-052 48.15 72.00 23.85 7.56 70-95 Iceberg Excavation
      Including 48.60 49.20 0.60 12.26 70-95
      Including 61.15 63.70 2.55 17.00 70-95
      Including 64.40 65.20 0.80 74.21 70-95
      Including 68.05 69.80 1.75 12.94 70-95
      Including 71.50 72.00 0.50 38.44 70-95
      NFGC-25-GC-055 51.45 67.45 16.00 76.58 70-95 Iceberg Excavation
      Including 51.45 52.85 1.40 12.54 70-95
      Including 55.40 55.70 0.30 63.77 70-95
      Including 61.30 61.90 0.60 49.84 70-95
      Including 63.50 67.45 3.95 288.48 70-95
      And Including 63.50 64.25 0.75 656.59 70-95
      NFGC-25-GC-058 23.75 26.45 2.70 14.99 70-95 Iceberg Excavation
      Including 24.40 25.35 0.95 43.11 70-95
      And 31.30 57.45 26.15 11.62 70-95
      Including 37.75 38.65 0.90 16.38 70-95
      Including 40.35 42.30 1.95 53.55 70-95
      Including 43.15 44.65 1.50 28.64 70-95
      Including 49.80 51.00 1.20 28.67 70-95
      Including 55.85 56.65 0.80 86.44 70-95
      NFGC-25-GC-059 33.30 44.35 11.05 11.97 70-95 Iceberg Excavation
      Including 35.00 35.45 0.45 12.52 70-95
      Including 35.95 37.45 1.50 29.60 70-95
      Including 38.90 39.55 0.65 68.85 70-95
      Including 42.65 43.10 0.45 54.16 50-80
      NFGC-25-GC-061 34.95 56.15 21.20 35.41 70-95 Iceberg Excavation
      Including 37.80 38.25 0.45 65.62 70-95
      Including 42.70 44.00 1.30 77.08 70-95
      Including 45.10 46.15 1.05 67.24 70-95
      Including 48.95 49.75 0.80 76.23 70-95
      Including 50.65 51.35 0.70 107.85 60-90
      Including 52.35 55.60 3.25 118.45 60-90
      NFGC-25-GC-064 32.30 41.30 9.00 30.85 70-95 Iceberg Excavation
      Including 32.30 32.75 0.45 61.96 70-95
      Including 33.30 34.10 0.80 223.22 70-95
      Including 38.90 40.45 1.55 30.62 70-95
      NFGC-25-GC-067 38.85 50.30 11.45 27.84 70-95 Iceberg Excavation
      Including 39.85 40.80 0.95 16.17 70-95
      Including 41.60 42.85 1.25 38.25 70-95
      Including 45.20 46.55 1.35 125.72 70-95
      Including 49.70 50.30 0.60 119.07 70-95
      NFGC-25-GC-069 37.80 69.75 31.95 71.81 70-95 Iceberg Excavation
      Including 39.10 42.65 3.55 80.55 70-95
      Including 47.95 48.90 0.95 28.97 70-95
      Including 51.35 53.45 2.10 154.03 70-95
      And Including 51.35 51.90 0.55 512.64 70-95
      Including 56.80 57.40 0.60 50.45 70-95
      Including 59.45 60.20 0.75 90.53 70-95
      Including 63.15 69.75 6.60 230.17 70-95
      And Including 66.20 67.80 1.60 595.58 70-95
      NFGC-25-GC-072 13.40 34.95 21.55 44.44 70-95 Iceberg Excavation
      Including 13.40 14.10 0.70 75.07 65-95
      Including 22.60 23.10 0.50 116.62 70-95
      Including 24.20 25.85 1.65 22.27 70-95
      Including 27.70 28.50 0.80 14.00 70-95
      Including 29.35 31.40 2.05 215.32 70-95
      Including 32.35 32.90 0.55 632.87 55-85
      NFGC-25-GC-074 15.35 22.20 6.85 8.38 70-95 Iceberg Excavation
      Including 15.35 16.00 0.65 16.06 70-95
      Including 16.70 17.90 1.20 30.26 70-95
      And 31.15 44.25 13.10 3.88 70-95
      Including 35.60 37.10 1.50 22.24 70-95
      NFGC-25-GC-076 38.45 51.30 12.85 18.43 70-95 Iceberg Excavation
      Including 39.30 39.75 0.45 10.23 70-95
      Including 48.40 48.85 0.45 81.00 40-70
      Including 50.50 51.30 0.80 199.19 40-70
      NFGC-25-GC-079 14.10 25.65 11.55 2.21 70-95 Iceberg Excavation
      Including 25.35 25.65 0.30 61.54 70-95
      And 40.40 51.80 11.40 41.12 70-95
      Including 40.40 40.70 0.30 10.76 70-95
      Including 41.35 42.35 1.00 37.25 70-95
      Including 43.00 43.70 0.70 14.36 70-95
      Including 47.90 48.40 0.50 629.44 70-95
      Including 48.70 50.30 1.60 55.71 50-80
      And 57.35 59.55 2.20 11.74 50-80
      Including 57.90 59.55 1.65 15.56 50-80
      And 65.20 68.00 2.80 11.87 25-55
      Including 65.20 66.80 1.60 18.64 25-55
      NFGC-25-GC-082 16.80 36.65 19.85 43.18 65-95 Iceberg Excavation
      Including 17.50 19.40 1.90 221.81 65-95
      Including 24.65 25.00 0.35 14.10 70-95
      Including 31.00 34.00 3.00 122.53 70-95
      Including 34.55 35.20 0.65 35.33 70-95
      NFGC-25-GC-084 40.95 43.75 2.80 17.51 70-95 Iceberg Excavation
      Including 41.40 43.00 1.60 27.24 70-95
      And 48.90 60.60 11.70 27.31 70-95
      Including 48.90 51.65 2.75 77.18 70-95
      Including 57.90 60.60 2.70 38.29 60-90
      NFGC-25-GC-085 41.80 44.10 2.30 17.99 65-95 Iceberg Excavation
      Including 42.55 42.90 0.35 114.28 65-95
      And 69.80 72.15 2.35 20.05 70-95
      Including 70.80 71.50 0.70 65.13 70-95
      NFGC-25-GC-087 42.80 52.00 9.20 6.70 70-95 Iceberg Excavation
      Including 50.90 51.25 0.35 138.45 70-95
      And 63.00 75.55 12.55 8.26 70-95
      Including 63.80 65.20 1.40 19.78 70-95
      Including 66.05 67.75 1.70 36.86 70-95
      NFGC-25-GC-097 27.65 55.20 27.55 11.88 70-95 Iceberg Excavation
      Including 31.35 33.90 2.55 27.91 70-95
      Including 34.45 35.95 1.50 36.04 70-95
      Including 43.40 43.80 0.40 20.09 70-95
      Including 54.75 55.20 0.45 321.59 70-95
      NFGC-25-GC-101 40.00 53.90 13.90 1.53 70-95 Iceberg Excavation
      Including 41.15 41.55 0.40 12.16 70-95
      NFGC-25-GC-106 3.60 22.25 18.65 31.61 70-95 Iceberg Excavation
      Including 3.60 4.55 0.95 239.28 60-90
      Including 10.25 10.90 0.65 15.83 70-95
      Including 14.30 15.05 0.75 44.82 70-95
      Including 17.60 22.25 4.65 65.59 70-95
      NFGC-25-GC-107 12.60 15.20 2.60 14.30 70-95 Iceberg Excavation
      Including 12.60 14.35 1.75 17.81 70-95
      And 21.75 30.05 8.30 55.43 70-95
      Including 21.75 22.60 0.85 53.65 70-95
      Including 23.60 24.15 0.55 141.09 70-95
      Including 24.45 24.90 0.45 750.76 70-95
      NFGC-25-GC-109 17.15 19.75 2.60 120.13 70-95 Iceberg Excavation
      Including 17.80 18.95 1.15 304.86 70-95
      And 25.40 40.80 15.40 8.55 70-95
      Including 25.40 25.75 0.35 22.77 70-95
      Including 27.45 28.00 0.55 13.75 70-95
      Including 31.35 32.30 0.95 88.66 70-95
      NFGC-25-GC-112 8.00 20.90 12.90 30.43 65-95 Iceberg Excavation
      Including 8.00 10.55 2.55 18.90 70-95
      Including 15.60 16.10 0.50 27.20 65-95
      Including 16.40 17.90 1.50 118.75 65-95
      Including 19.40 20.50 1.10 133.35 65-95
      NFGC-25-GC-113 28.80 38.90 10.10 12.82 70-95 Iceberg Excavation
      Including 28.80 29.30 0.50 18.48 70-95
      Including 30.25 31.30 1.05 25.09 70-95
      Including 31.80 32.70 0.90 83.17 70-95
      NFGC-25-GC-118 40.35 53.05 12.70 40.56 40-70 Iceberg Excavation
      Including 50.35 53.05 2.70 186.54 40-70
      And Including 52.55 53.05 0.50 807.23 40-70
      NFGC-25-GC-119 16.45 24.50 8.05 26.71 70-95 Iceberg Excavation
      Including 17.90 19.90 2.00 97.22 70-95
      Including 20.90 21.80 0.90 12.15 70-95
      NFGC-25-GC-121 29.60 33.75 4.15 16.92 70-95 Iceberg Excavation
      Including 32.35 33.25 0.90 74.82 70-95
      NFGC-25-GC-122 4.35 6.40 2.05 19.72 70-95 Iceberg Excavation
      Including 4.70 6.40 1.70 23.64 70-95
      And 13.45 23.35 9.90 12.98 60-90
      Including 14.40 17.20 2.80 34.57 60-90
      Including 18.00 18.50 0.50 32.38 60-90
      NFGC-25-GC-123 14.40 23.45 9.05 11.06 70-95 Iceberg Excavation
      Including 17.60 19.20 1.60 52.51 70-95
      NFGC-25-GC-124 17.00 29.40 12.40 5.17 70-95 Iceberg Excavation
      Including 18.80 20.30 1.50 30.32 70-95

       

      Note that the host structures are interpreted to be moderately to steeply dipping. 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 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m 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. Details of all drill holes reported in this press release are included in Table 2 and Table 3 below.

      Table 2: Summary of composite drill hole results reported in this press release for Keats and Iceberg.

      KEATS MAIN EXCAVATION
      Hole No. From (m) To (m) Interval (m) Au (g/t) True Width (%) Zone
      NFGC-25-GC-056 2.65 6.15 3.50 4.41 70-95 Keats Excavation
      Including 2.65 3.30 0.65 17.64 70-95
      NFGC-25-GC-060 No Significant Values Keats Excavation
      NFGC-25-GC-062 4.20 19.65 15.45 1.73 70-95 Keats Excavation
      NFGC-25-GC-063 9.75 21.05 11.30 9.73 70-95 Keats Excavation
      Including 14.50 15.50 1.00 92.27 70-95
      NFGC-25-GC-065 13.20 23.15 9.95 11.81 55-85 Keats Excavation
      Including 13.20 14.10 0.90 111.64 55-85
      NFGC-25-GC-066 5.65 16.00 10.35 4.22 70-95 Keats Excavation
      Including 5.65 6.20 0.55 23.75 70-95
      Including 10.10 11.10 1.00 24.78 70-95
      NFGC-25-GC-068 23.95 26.20 2.25 40.34 70-95 Keats Excavation
      Including 24.40 24.80 0.40 167.68 70-95
      Including 25.20 25.50 0.30 70.49 70-95
      NFGC-25-GC-070 No Significant Values Keats Excavation
      NFGC-25-GC-071 1.00 4.90 3.90 16.91 35-65 Keats Excavation
      Including 1.85 3.40 1.55 38.19 35-65
      And 10.65 13.55 2.90 1.42 35-65
      NFGC-25-GC-073 1.70 7.05 5.35 3.47 65-95 Keats Excavation
      Including 4.85 5.30 0.45 29.03 65-95
      NFGC-25-GC-075 0.25 3.00 2.75 2.31 70-95 Keats Excavation
      NFGC-25-GC-078 7.95 14.15 6.20 3.82 70-95 Keats Excavation
      Including 9.85 10.45 0.60 11.66 70-95
      NFGC-25-GC-080 0.00 2.25 2.25 1.65 70-95 Keats Excavation
      And 7.10 9.40 2.30 1.69 70-95
      And 17.60 23.05 5.45 3.72 70-95
      NFGC-25-GC-081 1.90 4.65 2.75 8.37 45-75 Keats Excavation
      Including 2.90 3.90 1.00 19.70 45-75
      And 14.45 19.85 5.40 3.86 70-95
      Including 19.40 19.85 0.45 13.57 70-95
      NFGC-25-GC-083 48.70 51.30 2.60 1.04 70-95 Keats Excavation
      NFGC-25-GC-086 15.60 19.00 3.40 1.01 15-45 Keats Excavation
      And 26.15 34.85 8.70 1.28 70-95
      NFGC-25-GC-088 No Significant Values Keats Excavation
      NFGC-25-GC-089 No Significant Values Keats Excavation
      NFGC-25-GC-091 No Significant Values Keats Excavation
      NFGC-25-GC-092 0.00 2.20 2.20 1.97 65-95 Keats Excavation
      NFGC-25-GC-094 11.90 15.30 3.40 2.73 65-95 Keats Excavation
      Including 12.90 13.35 0.45 12.88 65-95
      NFGC-25-GC-095 31.20 34.00 2.80 1.54 70-95 Keats Excavation
      And 37.00 39.15 2.15 4.87 70-95
      Including 38.15 38.60 0.45 18.78 70-95
      NFGC-25-GC-096 10.00 12.45 2.45 14.45 65-95 Keats Excavation
      Including 11.40 11.75 0.35 91.40 65-95
      NFGC-25-GC-098 18.40 28.00 9.60 2.35 60-90 Keats Excavation
      Including 26.40 27.10 0.70 12.97 60-90
      And 32.60 41.10 8.50 2.02 60-90
      Including 33.60 34.00 0.40 11.28 60-90
      NFGC-25-GC-100 0.00 15.95 15.95 2.56 70-95 Keats Excavation
      Including 9.40 9.85 0.45 20.86 70-95
      NFGC-25-GC-102 20.45 40.70 20.25 1.41 30-60 Keats Excavation
      Including 29.65 30.30 0.65 14.98 30-60
      NFGC-25-GC-103 1.25 10.85 9.60 2.17 70-95 Keats Excavation
      Including 10.15 10.85 0.70 11.95 70-95
      And 14.15 16.75 2.60 1.11 70-95
      And 25.40 28.05 2.65 1.04 70-95
      NFGC-25-GC-105 0.00 2.30 2.30 3.85 Unknown Keats Excavation
      Including 0.00 0.40 0.40 21.96 Unknown
      And 16.15 18.50 2.35 1.50 70-95
      NFGC-25-GC-108 8.15 14.25 6.10 1.72 70-95 Keats Excavation
      NFGC-25-GC-110 No Significant Values Keats Excavation
      NFGC-25-GC-111 23.70 34.30 10.60 2.37 65-95 Keats Excavation
      Including 29.40 30.15 0.75 11.27 65-95
      And 37.80 40.70 2.90 6.29 50-80
      Including 40.25 40.70 0.45 32.18 50-80
      NFGC-25-GC-115 4.90 10.75 5.85 15.85 60-90 Keats Excavation
      Including 4.90 5.35 0.45 199.16 60-90
      And 42.60 45.35 2.75 1.55 70-95
      And 54.60 58.00 3.40 51.30 70-95
      Including 54.60 55.20 0.60 31.18 70-95
      Including 55.55 56.10 0.55 278.07 70-95
       
      ICEBERG EXCAVATION
      Hole No. From (m) To (m) Interval (m) Au (g/t) True Width (%) Zone
      NFGC-25-GC-043 58.70 62.60 3.90 2.44 55-85 Iceberg Excavation
      And 71.95 75.60 3.65 15.51 25-55
      Including 73.85 75.60 1.75 28.81 25-55
      NFGC-25-GC-046 54.70 74.75 20.05 6.77 40-70 Iceberg Excavation
      Including 72.50 73.30 0.80 87.06 40-70
      Including 74.00 74.75 0.75 44.69 40-70
      NFGC-25-GC-048 19.50 21.55 2.05 1.39 70-95 Iceberg Excavation
      And 24.00 26.55 2.55 1.06 70-95
      And 45.15 54.30 9.15 28.07 70-95
      Including 50.70 53.20 2.50 97.72 70-95
      And 58.70 61.00 2.30 1.07 70-95
      And 69.15 72.00 2.85 13.31 70-95
      Including 69.15 70.00 0.85 11.37 70-95
      Including 71.00 72.00 1.00 20.37 70-95
      And 78.00 80.00 2.00 1.15 70-95
      NFGC-25-GC-050 40.00 46.35 6.35 1.54 70-95 Iceberg Excavation
      And 50.45 68.00 17.55 22.63 55-85
      Including 51.20 53.10 1.90 65.51 55-85
      Including 53.60 54.40 0.80 27.50 55-85
      Including 56.80 57.20 0.40 162.33 55-85
      Including 57.80 58.70 0.90 36.99 55-85
      Including 63.90 66.40 2.50 31.79 70-95
      Including 66.80 68.00 1.20 45.11 70-95
      NFGC-25-GC-052 36.80 42.75 5.95 1.60 70-95 Iceberg Excavation
      And 48.15 72.00 23.85 7.56 70-95
      Including 48.60 49.20 0.60 12.26 70-95
      Including 61.15 63.70 2.55 17.00 70-95
      Including 64.40 65.20 0.80 74.21 70-95
      Including 68.05 69.80 1.75 12.94 70-95
      Including 71.50 72.00 0.50 38.44 70-95
      NFGC-25-GC-055 39.50 47.40 7.90 3.35 70-95 Iceberg Excavation
      Including 46.20 47.10 0.90 18.55 70-95
      And 51.45 67.45 16.00 76.58 70-95
      Including 51.45 52.85 1.40 12.54 70-95
      Including 55.40 55.70 0.30 63.77 70-95
      Including 61.30 61.90 0.60 49.84 70-95
      Including 63.50 67.45 3.95 288.48 70-95
      And Including 63.50 64.25 0.75 656.59 70-95
      NFGC-25-GC-058 23.75 26.45 2.70 14.99 70-95 Iceberg Excavation
      Including 24.40 25.35 0.95 43.11 70-95
      And 31.30 57.45 26.15 11.62 70-95
      Including 37.75 38.65 0.90 16.38 70-95
      Including 40.35 42.30 1.95 53.55 70-95
      Including 43.15 44.65 1.50 28.64 70-95
      Including 49.80 51.00 1.20 28.67 70-95
      Including 55.85 56.65 0.80 86.44 70-95
      NFGC-25-GC-059 18.70 26.10 7.40 1.96 70-95 Iceberg Excavation
      And 33.30 44.35 11.05 11.97 70-95
      Including 35.00 35.45 0.45 12.52 70-95
      Including 35.95 37.45 1.50 29.60 70-95
      Including 38.90 39.55 0.65 68.85 70-95
      Including 42.65 43.10 0.45 54.16 50-80
      NFGC-25-GC-061 34.95 56.15 21.20 35.41 70-95 Iceberg Excavation
      Including 37.80 38.25 0.45 65.62 70-95
      Including 42.70 44.00 1.30 77.08 70-95
      Including 45.10 46.15 1.05 67.24 70-95
      Including 48.95 49.75 0.80 76.23 70-95
      Including 50.65 51.35 0.70 107.85 60-90
      Including 52.35 55.60 3.25 118.45 60-90
      NFGC-25-GC-064 20.00 22.20 2.20 1.25 70-95 Iceberg Excavation
      And 32.30 41.30 9.00 30.85 70-95
      Including 32.30 32.75 0.45 61.96 70-95
      Including 33.30 34.10 0.80 223.22 70-95
      Including 38.90 40.45 1.55 30.62 70-95
      NFGC-25-GC-067 18.25 21.45 3.20 1.26 70-95 Iceberg Excavation
      And 38.85 50.30 11.45 27.84 70-95
      Including 39.85 40.80 0.95 16.17 70-95
      Including 41.60 42.85 1.25 38.25 70-95
      Including 45.20 46.55 1.35 125.72 70-95
      Including 49.70 50.30 0.60 119.07 70-95
      NFGC-25-GC-069 37.80 69.75 31.95 71.81 70-95 Iceberg Excavation
      Including 39.10 42.65 3.55 80.55 70-95
      Including 47.95 48.90 0.95 28.97 70-95
      Including 51.35 53.45 2.10 154.03 70-95
      And Including 51.35 51.90 0.55 512.64 70-95
      Including 56.80 57.40 0.60 50.45 70-95
      Including 59.45 60.20 0.75 90.53 70-95
      Including 63.15 69.75 6.60 230.17 70-95
      And Including 66.20 67.80 1.60 595.58 70-95
      And 79.00 81.15 2.15 2.69 Unknown
      Including 80.65 81.15 0.50 10.78 Unknown
      NFGC-25-GC-072 13.40 34.95 21.55 44.44 70-95 Iceberg Excavation
      Including 13.40 14.10 0.70 75.07 65-95
      Including 22.60 23.10 0.50 116.62 70-95
      Including 24.20 25.85 1.65 22.27 70-95
      Including 27.70 28.50 0.80 14.00 70-95
      Including 29.35 31.40 2.05 215.32 70-95
      Including 32.35 32.90 0.55 632.87 55-85
      NFGC-25-GC-074 15.35 22.20 6.85 8.38 70-95 Iceberg Excavation
      Including 15.35 16.00 0.65 16.06 70-95
      Including 16.70 17.90 1.20 30.26 70-95
      And 31.15 44.25 13.10 3.88 70-95
      Including 35.60 37.10 1.50 22.24 70-95
      NFGC-25-GC-076 19.85 26.20 6.35 1.01 70-95 Iceberg Excavation
      And 38.45 51.30 12.85 18.43 70-95
      Including 39.30 39.75 0.45 10.23 70-95
      Including 48.40 48.85 0.45 81.00 40-70
      Including 50.50 51.30 0.80 199.19 40-70
      NFGC-25-GC-079 14.10 25.65 11.55 2.21 70-95 Iceberg Excavation
      Including 25.35 25.65 0.30 61.54 70-95
      And 40.40 51.80 11.40 41.12 70-95
      Including 40.40 40.70 0.30 10.76 70-95
      Including 41.35 42.35 1.00 37.25 70-95
      Including 43.00 43.70 0.70 14.36 70-95
      Including 47.90 48.40 0.50 629.44 70-95
      Including 48.70 50.30 1.60 55.71 50-80
      And 57.35 59.55 2.20 11.74 50-80
      Including 57.90 59.55 1.65 15.56 50-80
      And 65.20 68.00 2.80 11.87 25-55
      Including 65.20 66.80 1.60 18.64 25-55
      NFGC-25-GC-082 16.80 36.65 19.85 43.18 65-95 Iceberg Excavation
      Including 17.50 19.40 1.90 221.81 65-95
      Including 24.65 25.00 0.35 14.10 70-95
      Including 31.00 34.00 3.00 122.53 70-95
      Including 34.55 35.20 0.65 35.33 70-95
      NFGC-25-GC-084 16.80 19.75 2.95 5.23 70-95 Iceberg Excavation
      And 40.95 43.75 2.80 17.51 70-95
      Including 41.40 43.00 1.60 27.24 70-95
      And 48.90 60.60 11.70 27.31 70-95
      Including 48.90 51.65 2.75 77.18 70-95
      Including 57.90 60.60 2.70 38.29 60-90
      NFGC-25-GC-085 19.30 22.20 2.90 2.63 70-95 Iceberg Excavation
      And 41.80 44.10 2.30 17.99 65-95
      Including 42.55 42.90 0.35 114.28 65-95
      And 57.65 62.60 4.95 8.16 70-95
      Including 62.15 62.60 0.45 51.19 70-95
      And 69.80 72.15 2.35 20.05 70-95
      Including 70.80 71.50 0.70 65.13 70-95
      NFGC-25-GC-087 6.00 8.20 2.20 1.73 Unknown Iceberg Excavation
      And 18.15 20.70 2.55 1.78 70-95
      And 42.80 52.00 9.20 6.70 70-95
      Including 50.90 51.25 0.35 138.45 70-95
      And 63.00 75.55 12.55 8.26 70-95
      Including 63.80 65.20 1.40 19.78 70-95
      Including 66.05 67.75 1.70 36.86 70-95
      NFGC-25-GC-090 58.00 66.55 8.55 2.48 65-95 Iceberg Excavation
      Including 61.50 62.00 0.50 11.23 65-95
      NFGC-25-GC-093 56.35 62.40 6.05 6.74 70-95 Iceberg Excavation
      Including 57.00 58.00 1.00 15.35 70-95
      Including 60.70 61.70 1.00 17.92 70-95
      NFGC-25-GC-097 21.30 24.15 2.85 1.07 70-95 Iceberg Excavation
      And 27.65 55.20 27.55 11.88 70-95
      Including 31.35 33.90 2.55 27.91 70-95
      Including 34.45 35.95 1.50 36.04 70-95
      Including 43.40 43.80 0.40 20.09 70-95
      Including 54.75 55.20 0.45 321.59 70-95
      NFGC-25-GC-099 2.00 4.10 2.10 1.02 Unknown Iceberg Excavation
      And 43.00 45.20 2.20 2.40 70-95
      NFGC-25-GC-101 15.65 20.50 4.85 1.15 70-95 Iceberg Excavation
      And 40.00 53.90 13.90 1.53 70-95
      Including 41.15 41.55 0.40 12.16 70-95
      NFGC-25-GC-104 42.15 44.45 2.30 1.23 70-95 Iceberg Excavation
      NFGC-25-GC-106 3.60 22.25 18.65 31.61 70-95 Iceberg Excavation
      Including 3.60 4.55 0.95 239.28 60-90
      Including 10.25 10.90 0.65 15.83 70-95
      Including 14.30 15.05 0.75 44.82 70-95
      Including 17.60 22.25 4.65 65.59 70-95
      NFGC-25-GC-107 12.60 15.20 2.60 14.30 70-95 Iceberg Excavation
      Including 12.60 14.35 1.75 17.81 70-95
      And 21.75 30.05 8.30 55.43 70-95
      Including 21.75 22.60 0.85 53.65 70-95
      Including 23.60 24.15 0.55 141.09 70-95
      Including 24.45 24.90 0.45 750.76 70-95
      NFGC-25-GC-109 11.00 13.00 2.00 2.31 70-95 Iceberg Excavation
      And 17.15 19.75 2.60 120.13 70-95
      Including 17.80 18.95 1.15 304.86 70-95
      And 25.40 40.80 15.40 8.55 70-95
      Including 25.40 25.75 0.35 22.77 70-95
      Including 27.45 28.00 0.55 13.75 70-95
      Including 31.35 32.30 0.95 88.66 70-95
      NFGC-25-GC-112 0.00 2.35 2.35 1.03 70-95 Iceberg Excavation
      And 8.00 20.90 12.90 30.43 65-95
      Including 8.00 10.55 2.55 18.90 70-95
      Including 15.60 16.10 0.50 27.20 65-95
      Including 16.40 17.90 1.50 118.75 65-95
      Including 19.40 20.50 1.10 133.35 65-95
      NFGC-25-GC-113 28.80 38.90 10.10 12.82 70-95 Iceberg Excavation
      Including 28.80 29.30 0.50 18.48 70-95
      Including 30.25 31.30 1.05 25.09 70-95
      Including 31.80 32.70 0.90 83.17 70-95
      And 44.50 47.15 2.65 8.17 50-80
      Including 46.30 46.60 0.30 56.91 50-80
      NFGC-25-GC-116 8.00 11.70 3.70 1.10 70-95 Iceberg Excavation
      And 28.40 38.30 9.90 3.74 70-95
      Including 28.85 30.05 1.20 23.28 70-95
      NFGC-25-GC-117 24.30 29.50 5.20 5.24 70-95 Iceberg Excavation
      Including 24.30 25.70 1.40 16.38 70-95
      NFGC-25-GC-118 3.75 9.15 5.40 1.16 70-95 Iceberg Excavation
      And 27.40 34.25 6.85 4.43 70-95
      And 40.35 53.05 12.70 40.56 40-70
      Including 50.35 53.05 2.70 186.54 40-70
      And Including 52.55 53.05 0.50 807.23 40-70
      NFGC-25-GC-119 3.40 8.00 4.60 8.81 70-95 Iceberg Excavation
      Including 6.10 8.00 1.90 19.32 70-95
      And 16.45 24.50 8.05 26.71 70-95
      Including 17.90 19.90 2.00 97.22 70-95
      Including 20.90 21.80 0.90 12.15 70-95
      NFGC-25-GC-120 21.70 24.20 2.50 1.09 60-90 Iceberg Excavation
      And 31.00 37.00 6.00 3.08 60-90
      Including 31.00 32.45 1.45 12.53 60-90
      NFGC-25-GC-121 6.35 10.20 3.85 1.35 70-95 Iceberg Excavation
      And 29.60 33.75 4.15 16.92 70-95
      Including 32.35 33.25 0.90 74.82 70-95
      NFGC-25-GC-122 4.35 6.40 2.05 19.72 70-95 Iceberg Excavation
      Including 4.70 6.40 1.70 23.64 70-95
      And 13.45 23.35 9.90 12.98 60-90
      Including 14.40 17.20 2.80 34.57 60-90
      Including 18.00 18.50 0.50 32.38 60-90
      NFGC-25-GC-123 14.40 23.45 9.05 11.06 70-95 Iceberg Excavation
      Including 17.60 19.20 1.60 52.51 70-95
      NFGC-25-GC-124 9.40 11.65 2.25 1.09 70-95 Iceberg Excavation
      And 17.00 29.40 12.40 5.17 70-95
      Including 18.80 20.30 1.50 30.32 70-95

       

      Note that the host structures are interpreted to be moderately to steeply dipping. 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 2 m with a maximum of 4 m consecutive dilution when above 200 m vertical depth and 2 m consecutive dilution when below 200 m 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.

      Table 3 Details of drill holes reported in this press release.

      Hole No. Azimuth (°) Dip (°) Length (m) UTM E UTM N Zone
      NFGC-25-GC-043 300 -45 108 658419 5427780 Iceberg
      NFGC-25-GC-046 300 -45 99 658422 5427785 Iceberg
      NFGC-25-GC-048 300 -45 84 658427 5427793 Iceberg
      NFGC-25-GC-050 300 -45 76 658429 5427797 Iceberg
      NFGC-25-GC-052 300 -45 76 658432 5427802 Iceberg
      NFGC-25-GC-055 299 -45.2 75 658437 5427805 Iceberg
      NFGC-25-GC-056 300 -45 13 658181 5427527 Keats
      NFGC-25-GC-058 300 -45 63 658437 5427810 Iceberg
      NFGC-25-GC-059 299 -45.5 51 658436 5427817 Iceberg
      NFGC-25-GC-060 300 -45 11 658248 5427541 Keats
      NFGC-25-GC-061 300 -45 61 658442 5427814 Iceberg
      NFGC-25-GC-062 298 -45.2 21 658182 5427521 Keats
      NFGC-25-GC-063 299 -45 26 658177 5427512 Keats
      NFGC-25-GC-064 299 -45.5 59 658441 5427819 Iceberg
      NFGC-25-GC-065 299 -45 36 658186 5427516 Keats
      NFGC-25-GC-066 299 -45 21 658171 5427516 Keats
      NFGC-25-GC-067 299 -45.5 67 658449 5427815 Iceberg
      NFGC-25-GC-068 300 -45 34 658228 5427546 Keats
      NFGC-25-GC-069 300 -45 83 658444 5427807 Iceberg
      NFGC-25-GC-070 300 -45 18 658213 5427555 Keats
      NFGC-25-GC-071 300 -45 23 658172 5427521 Keats
      NFGC-25-GC-072 300 -45 42 658434 5427824 Iceberg
      NFGC-25-GC-073 300 -45 15 658166 5427519 Keats
      NFGC-25-GC-074 300 -45 67 658430 5427815 Iceberg
      NFGC-25-GC-075 300 -45 13 658176 5427525 Keats
      NFGC-25-GC-076 300 -45 63 658425 5427806 Iceberg
      NFGC-25-GC-078 300 -45 21 658179 5427516 Keats
      NFGC-25-GC-079 299 -45 84 658426 5427806 Iceberg
      NFGC-25-GC-080 300 -45 31 658231 5427550 Keats
      NFGC-25-GC-081 300 -45 27 658223 5427549 Keats
      NFGC-25-GC-082 300 -45 42 658429 5427821 Iceberg
      NFGC-25-GC-083 300 -45 54 658248 5427535 Keats
      NFGC-25-GC-084 299 -45 85 658420 5427797 Iceberg
      NFGC-25-GC-085 300 -45 79 658417 5427793 Iceberg
      NFGC-25-GC-086 300 -45 39 658237 5427547 Keats
      NFGC-25-GC-087 299 -45 78 658415 5427789 Iceberg
      NFGC-25-GC-088 299 -45 19 658246 5427530 Keats
      NFGC-25-GC-089 299 -45 25 658225 5427554 Keats
      NFGC-25-GC-090 299 -45 71 658414 5427772 Iceberg
      NFGC-25-GC-091 299 -45 15 658216 5427559 Keats
      NFGC-25-GC-092 299 -45 16 658243 5427526 Keats
      NFGC-25-GC-093 299 -45 69 658417 5427776 Iceberg
      NFGC-25-GC-094 299 -45 21 658218 5427552 Keats
      NFGC-25-GC-095 299 -45 52 658240 5427533 Keats
      NFGC-25-GC-096 299 -45 23 658221 5427556 Keats
      NFGC-25-GC-097 300 -45 60 658431 5427808 Iceberg
      NFGC-25-GC-098 298 -45 48 658239 5427540 Keats
      NFGC-25-GC-099 300 -45 58 658412 5427785 Iceberg
      NFGC-25-GC-100 300 -45 23 658190 5427533 Keats
      NFGC-25-GC-101 300 -45 58 658410 5427780 Iceberg
      NFGC-25-GC-102 300 -45 47 658235 5427536 Keats
      NFGC-25-GC-103 300 -45 31 658198 5427529 Keats
      NFGC-25-GC-104 300 -45 61 658407 5427776 Iceberg
      NFGC-25-GC-105 300 -45 26 658217 5427547 Keats
      NFGC-25-GC-106 300 -45 28 658427 5427827 Iceberg
      NFGC-25-GC-107 300 -45 38 658423 5427819 Iceberg
      NFGC-25-GC-108 300 -45 24 658187 5427524 Keats
      NFGC-25-GC-109 300 -45.5 48 658423 5427814 Iceberg
      NFGC-25-GC-110 300 -45 24 658252 5427527 Keats
      NFGC-25-GC-111 300 -45 48 658238 5427529 Keats
      NFGC-25-GC-112 300 -45 27 658422 5427825 Iceberg
      NFGC-25-GC-113 300 -45 50 658415 5427806 Iceberg
      NFGC-25-GC-115 300 -45 59 658242 5427521 Keats
      NFGC-25-GC-116 300 -45 51 658411 5427802 Iceberg
      NFGC-25-GC-117 300 -45 56 658408 5427798 Iceberg
      NFGC-25-GC-118 300 -45 59 658406 5427794 Iceberg
      NFGC-25-GC-119 300 -45 32 658413 5427817 Iceberg
      NFGC-25-GC-120 300 -45 44 658401 5427785 Iceberg
      NFGC-25-GC-121 300 -45 50 658399 5427781 Iceberg
      NFGC-25-GC-122 300 -45 25 658414 5427824 Iceberg
      NFGC-25-GC-123 300 -45 30 658408 5427816 Iceberg
      NFGC-25-GC-124 300 -45 37 658406 5427811 Iceberg

       

      Sampling, Sub-sampling, and Laboratory

      All drilling recovers HQ core. For deep holes, the core size may be reduced to NQ at depth. 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 meter and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (<1.0m) veins or other structures that may yield higher grades.

      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 Gold has submitted samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ALS‘) since February 2024. ALS operates under a commercial contract with New Found Gold.

      Drill core samples are shipped to ALS for sample preparation in Thunder Bay, Ontario. ALS does not currently have accreditation for the PhotonAssay method at their Thunder Bay, ON laboratory. They do however have ISO/IEC 17025 (2017) accreditation for gamma ray analysis of samples for gold at their Australian labs with this method, including the Canning Vale lab in Perth, WA.

      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.

      Select samples prepared at ALS 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 Gold’s quality control protocols.

      New Found Gold’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.

      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.

      Qualified Person

      The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render, P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release by New Found Gold. Ms. Render 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 Gold is an emerging Canadian gold producer with assets in Newfoundland and Labrador, Canada. The Company holds a 100% interest in Queensway and the Hammerdown Gold Project, which includes fully permitted 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.

      Through 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, please visit the Company’s website at www.newfoundgold.ca, 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
      https://x.com/newfoundgold

      Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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, including relating to the Company’s 2025 drill program on its Queensway Gold Project in Newfoundland and Labrador, Canada, and the timing, results, and interpretation and use of the results; planned reporting of the remaining results from 2025 drilling and channel sampling from the Lotto excavation; the excavation program and the timing and results thereof; future drill and excavation programs and the timing and focus thereof; exploration, drilling and mineralization at Queensway; the extent of mineralization and the continuity of high-grade gold mineralization; the potential conversion of mineral resources; the potential resource expansion; planned filing of an updated Technical Report for Queensway, including a mineral resource update, and the timing thereof; focus on growth and value creation; and the merits of Queensway. 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’, ‘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 TSXV, 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.

      1 g/t Au = grams of gold per tonne, m = metres.

      To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285803

      News Provided by TMX Newsfile via QuoteMedia

      This post appeared first on investingnews.com

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