New Found Gold Corp 6-K, filed Nov 7, 2025

New Found Gold Corp. (NFGC)

6-K 2025-11-07 For: 2025-09-30

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Added on April 11, 2026

About this 6-K

New Found Gold Corp filed this 6-K on November 7, 2025.

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Exhibit

99.1	Unaudited condensed interim financial statements for the three and nine months ended September 30, 2025 and 2024.

99.2	Management’s discussion and analysis of financial condition and results of operations for the three and nine months ended September 30, 2025 and 2024.

	New Found Gold Corp.

Date: November 6, 2025	By:	/s/ Hashim Ahmed
		Name:	Hashim Ahmed
		Title:	Chief Financial Officer

Condensed interim statements of financial position	1

Condensed interim statements of loss and comprehensive loss	2

Condensed interim statements of cash flows	3

Condensed interim statements of changes in equity	4

Notes to the condensed interim financial statements	5

	Note	September 30, 2025 $			December 31, 2024 $
ASSETS
Current assets
Cash and cash equivalents			71,136,121			22,317,548
Investments	5		540,096			926,019
Interest receivable			282			-
Sales taxes recoverable			1,750,210			2,209,948
Prepaid expenses and deposits			1,454,185			1,480,341
Secured notes	7		-			2,817,554
Total current assets			74,880,894			29,751,410

Non-current assets
Exploration and evaluation assets	3		34,574,784			34,505,484
Investment in Kirkland Lake Discoveries Corp.	6		2,322,095			1,525,756
Property and equipment	4		7,848,920			7,938,149
Right-of-use assets			62,346			118,509
Other assets			256,534			179,703
Total non-current assets			45,064,679			44,267,601

Total Assets			119,945,573			74,019,011

LIABILITIES
Current liabilities
Accounts payable and accrued liabilities	9,11		6,511,740			7,325,203
Flow-through share premium	8		11,992,641			-
Lease liabilities			450			53,783
Share-based compensation liabilities	10		40,808			-
Total current liabilities			18,545,639			7,378,986

Lease liabilities			68,741			69,320
Total non-current liabilities			68,741			69,320

Total liabilities			18,614,380			7,448,306

EQUITY
Share capital	10		407,822,989			341,346,716
Reserves	10		35,718,073			34,988,421
Deficit			(342,209,869	)		(309,764,432	)
Total equity			101,331,193			66,570,705

Total Liabilities and Equity			119,945,573			74,019,011

“Paul Huet”	, Director
“William Hayden”	, Director

		Three months ended September 30,						Nine months ended September 30,
	Note	2025 $			2024 $			2025 $			2024 $
Expenses
Exploration and evaluation expenditures	3,11		13,423,595			12,861,119			27,794,432			37,150,120
Salaries and consulting	11		1,298,781			602,260			4,026,378			2,066,939
Corporate development and investor relations	11		839,097			192,858			1,338,980			581,974
Share-based compensation	10,11		766,158			188,857			2,125,090			815,246
Depreciation	4		183,182			195,958			582,363			615,238
Professional fees			399,730			362,187			1,239,263			1,185,478
Office and sundry			178,117			195,030			600,196			594,750
Travel			156,408			66,900			448,345			125,019
Transfer agent and regulatory fees			26,162			60,824			381,943			341,137
Loss from operating activities			(17,271,230	)		(14,725,993	)		(38,536,990	)		(43,475,901	)
Other income (expenses)
Settlement of flow-through share premium	8		3,495,191			3,189,263			4,249,959			9,095,737
Gains (losses) on equity investment	6		864,087			(321,932	)		796,339			(1,062,312	)
Foreign exchange gain (loss)			28,272			(59,233	)		(115,821	)		25,847
Part XII.6 tax	8		(67,143	)		(190,140	)		(67,143	)		(819,179	)
Gains on secured notes	7		-			63,310			55,911			104,527
Interest expense			(3,409	)		(6,031	)		(12,882	)		(18,730	)
Interest income			511,795			730,741			892,946			2,373,638
Investment gains (losses)	5		(502,357	)		(263,651	)		292,243			(1,334,287	)
Settlement of legal claim	10,14		-			-			-			(1,750,100	)
Total			4,326,436			3,142,327			6,091,552			6,615,141
Loss and comprehensive loss for the period			(12,944,794	)		(11,583,666	)		(32,445,437	)		(36,860,760	)

Loss per share – basic and diluted ($)	12		(0.06	)		(0.06	)		(0.15	)		(0.19	)
Weighted average number of shares outstanding – basic and diluted	12		235,018,399			198,019,407			214,761,519			192,324,461

	Nine months ended September 30,
	2025 $			2024 $
Cash flows from operating activities
Loss for the period		(32,445,437	)		(36,860,760	)
Adjustments for:
Depreciation		582,363			615,238
Gains (losses) on equity investment		(796,339	)		1,062,312
Interest income		(74,468	)		(227,463	)
Interest expense		12,882			18,730
Gains on secured notes		(55,911	)		(104,527	)
Settlement of legal claim		-			1,750,100
Foreign exchange loss (gain) on secured notes		95,465			(50,514	)
Unrealized foreign exchange loss (gain)		10,334			(11,888	)
Settlement of flow-through share premium		(4,249,959	)		(9,095,737	)
Share-based compensation		2,125,090			815,246
Investment (gains) losses		(292,243	)		1,334,287
		(35,088,223	)		(40,754,976	)
Change in non-cash working capital items:
Decrease in prepaid expenses and deposits		26,156			62,854
Decrease in sales taxes recoverable		459,738			1,544,694
Decrease in other assets		179,703			-
Increase in interest receivable		(282	)		-
(Decrease) in accounts payable and accrued liabilities		(290,793	)		(49,844	)
Net cash and cash equivalents (used in) operating activities		(34,713,701	)		(39,197,272	)

Cash flows from investing activities
Expenditures on claim staking and mineral license renewals		(69,300	)		(3,450	)
Interest received on secured notes		-			229,688
Other assets		(173,025	)		(111,108	)
Purchases of exploration and evaluation assets		(676,921	)		(2,413,010	)
Proceeds from sale of secured notes		2,778,000			-
Proceeds on disposal of investments		752,634			688,220
Purchases of property and equipment		(365,948	)		(370,303	)
Net cash and cash equivalents generated from (used in) investing activities		2,245,440			(1,979,963	)

Cash flows from financing activities
Issuance of common shares in prospectus offering		63,480,000			27,522,494
Issuance of common shares in a private placement		20,000,001			-
Share issue costs		(3,912,782	)		(921,158	)
Other assets		-			(174,552	)
Stock options exercised		1,797,025			87,500
Lease principal payments		(53,912	)		(105,549	)
Lease interest payments		(12,882	)		(18,730	)
Net cash and equivalents generated from financing activities		81,297,450			26,390,005
Effect of exchange rate fluctuations on cash and cash equivalents		(10,616	)		10,842
Net increase (decrease) in cash and cash equivalents		48,818,573			(14,776,388	)
Cash and cash equivalents at beginning of period		22,317,548			53,884,809

Cash and cash equivalents at end of period		71,136,121			39,108,421

	Share capital					Reserves
	Number of shares		Amount $			Equity settled share-based payments $			Warrants $		Deficit $			Total equity $
Balance at December 31, 2023		186,873,012		290,244,029			34,751,151			3,918		(259,496,078	)		65,503,020
Issued pursuant to acquisition of the Kingsway Project (Note 3(i))		5,263,157		20,000,000			-			-		-			20,000,000
Issued pursuant to acquisition of exploration and evaluation assets		300,000		1,011,000			-			-		-			1,011,000
Issued in prospectus offering		5,857,242		27,522,494			-			-		-			27,522,494
Share issue costs		-		(917,610	)		-			-		-			(917,610	)
Issued in settlement of legal claim		370,000		1,750,100			-			-		-			1,750,100
Share-based compensation		-		-			815,246			-		-			815,246
Stock options exercised		175,000		154,020			(66,520	)		-		-			87,500
Total loss and comprehensive loss for the period		-		-			-			-		(36,860,760	)		(36,860,760	)
Balance at September 30, 2024		198,838,411		339,764,033			35,499,877			3,918		(296,356,838	)		78,910,990
Issued pursuant to acquisition of exploration and evaluation assets		69,583		215,707			-			-		-			215,707
Share issue costs		-		2,803			-			-		-			2,803
Stock options exercised		1,550,000		1,364,173			(589,173	)		-		-			775,000
Share-based compensation		-		-			73,799			-		-			73,799
Total loss and comprehensive loss for the period		-		-			-			-		(13,407,594	)		(13,407,594	)
Balance at December 31, 2024		200,457,994		341,346,716			34,984,503			3,918		(309,764,432	)		66,570,705
Issued in prospectus offering		28,980,000		63,480,000			-			-		-			63,480,000
Issued in private placement		12,269,939		20,000,001			-			-					20,000,001
Flow-through premium		-		(16,242,600	)		-			-					(16,242,600	)
Share issue costs		-		(3,912,782	)		-			-		-			(3,912,782	)
Stock options exercised		1,329,329		3,151,654			(1,354,629	)		-		-			1,797,025
Share-based compensation		-		-			2,084,281			-		-			2,084,281
Total loss and comprehensive loss for the period		-		-			-			-		(32,445,437	)		(32,445,437	)
Balance at September 30, 2025		243,037,262		407,822,989			35,714,155			3,918		(342,209,869	)		101,331,193

Nine months ended September 30, 2025	Queensway⁽ⁱ⁾ $		Other $		Total $
Exploration and evaluation assets
Balance as at December 31, 2024		34,390,976		114,508		34,505,484
Additions:
Claim staking and license renewal costs		65,975		3,325		69,300
Balance as at September 30, 2025		34,456,951		117,833		34,574,784

Exploration and evaluation expenditures
Cumulative exploration expense - December 31, 2024		267,847,694		575,695		268,423,389
Drilling		10,389,100		-		10,389,100
Salaries and consulting		6,918,652		-		6,918,652
Assays		2,808,386		-		2,808,386
Supplies and equipment		1,290,164		-		1,290,164
Geophysics		1,275,692		-		1,275,692
Environmental studies		780,496		-		780,496
Office and general		684,167		-		684,167
Metallurgy		625,537		-		625,537
Travel and accommodations		576,725		-		576,725
Preliminary economic assessment		538,038		-		538,038
Reclamation		463,802		-		463,802
Trenching		417,726		-		417,726
Technical reports		258,647		-		258,647
Engineering and evaluation studies		243,724		-		243,724
Waste rock geochemistry		227,566		-		227,566
Resource estimate		222,480		-		222,480
Other		73,530		-		73,530
		27,794,432		-		27,794,432
Cumulative exploration expense – September 30, 2025		295,642,126		575,695		296,217,821

Nine months ended September 30, 2024	Queensway⁽ⁱ⁾ $		Other $		Total $
Exploration and evaluation assets
Balance as at December 31, 2023		9,014,478		78,709		9,093,187
Additions:
Acquisition costs – Kingsway Project		20,838,541		-		20,838,541
Acquisition costs – royalty purchases		3,024,620		-		3,024,620
Acquisition costs – other claims		51,655		-		51,655
Claim staking and license renewal costs		3,450		-		3,450
Balance as at September 30, 2024		32,932,744		78,709		33,011,453

Exploration and evaluation expenditures
Cumulative exploration expense - December 31, 2023		215,285,192		574,857		215,860,049
Drilling		15,689,676		-		15,689,676
Salaries and consulting		7,189,306		488		7,189,794
Assays		4,941,692		-		4,941,692
Trenching		2,025,311		-		2,025,311
Reclamation		1,163,413		-		1,163,413
Other		1,191,162		350		1,191,512
Supplies and equipment		1,045,732		-		1,045,732
Metallurgy		1,031,331		-		1,031,331
Environmental studies		744,420		-		744,420
Geophysics		566,411		-		566,411
Travel and accommodations		556,717		-		556,717
Permitting		507,639		-		507,639
Office and general		496,472		-		496,472
		37,149,282		838		37,150,120
Cumulative exploration expense – September 30, 2024		252,434,474		575,695		253,010,169

	Property and Buildings		Computer Equipment		Geological Equipment and Other Facilities		Vehicles		Office Furniture and Equipment		Total
	$		$		$		$		$		$
Cost
Balance at December 31, 2023		6,365,256		136,492		2,311,030		935,323		38,353		9,786,454
Additions - Kingsway Project		100,000		-		250,000		-		-		350,000
Additions - other		3,615		-		583,610		38,550		-		625,775
Balance at December 31, 2024		6,468,871		136,492		3,144,640		973,873		38,353		10,762,229
Additions		-		-		194,196		242,775		-		436,971
Balance at September 30, 2025		6,468,871		136,492		3,338,836		1,216,648		38,353		11,199,200
Accumulated Depreciation
Balance at December 31, 2023		413,031		85,549		1,016,219		625,256		7,791		2,147,846
Depreciation		277,685		33,153		184,532		173,193		7,671		676,234
Balance at December 31, 2024		690,716		118,702		1,200,751		798,449		15,462		2,824,080
Depreciation		206,095		10,624		126,487		177,241		5,753		526,200
Balance at September 30, 2025		896,811		129,326		1,327,238		975,690		21,215		3,350,280
Carrying Amount
At December 31, 2024		5,778,155		17,790		1,943,889		175,424		22,891		7,938,149
At September 30, 2025		5,572,060		7,166		2,011,598		240,958		17,138		7,848,920

	September 30, 2025		December 31, 2024
	$		$
Equities held (i)		540,096		779,019
Warrants held (ii)		-		147,000
Total Investments		540,096		926,019

	Quantity		Cost $		Fair Value September 30, 2025 $
Exploits Discovery Corp.		4,157,466		2,659,473		291,023
Maritime Resources Corp.		102,923		74,468		249,073
Total Equities				2,733,941		540,096

	Quantity		Cost $		Fair Value December 31, 2024 $
Exploits Discovery Corp.		4,157,466		2,659,473		187,086
Labrador Gold Corp.		9,865,556		6,953,907		591,933
Total Equities				9,613,380		779,019

	September 30, 2025 $			December 31, 2024 $
Summarised Statement of Financial Position
Current assets		1,364,697			1,913,417
Non-current assets		8,433,529			4,551,364
Current liabilities		(386,336	)		(576,261	)
Net assets		9,411,890			5,888,520
The Company’s ownership interest		24.67	%		25.91	%
Share of KLDC’s net assets		2,322,095			1,525,756

	Three months ended September 30,						Nine months ended September 30,
Summarised Statement of Loss and Comprehensive Loss	2025 $			2024 $			2025 $			2024 $
Net loss and comprehensive loss for the period		(766,868	)		(997,155	)		(982,367	)		(3,290,413	)
Share of KLDC’s loss for the period		(186,324	)		(321,932	)		(244,116	)		(1,062,312	)

Net carrying amount – December 31, 2023	$	2,861,250
Share of loss from operations of associate during the period		(1,306,722	)
Loss on dilution of equity investment		(28,772	)
Net carrying amount – December 31, 2024	$	1,525,756
Share of loss from operations of associate during the period		(244,116	)
Gain on dilution of equity investment		40,218
Reversal of impairment from equity investment		1,000,237
Net carrying amount – September 30, 2025	$	2,322,095

Secured notes at December 31, 2023	$	2,454,300
Revaluation of secured notes		140,786
Foreign exchange gain		222,468
Secured notes at December 31, 2024	$	2,817,554
Proceeds on disposal of secured notes		(2,778,000	)
Realized gain on disposal of secured notes		55,911
Foreign exchange loss		(95,465	)
Secured notes at September 30, 2025	$	-

	Issued November 2023			Issued June 2025			Total
	$			$			$
Balance at December 31, 2023		12,426,322			-			12,426,322
Settlement of flow-through share premium on expenditures incurred		(5,906,474	)		-			(5,906,474	)
Balance at September 30, 2024		6,519,848			-			6,519,848
Settlement of flow-through share premium on expenditures incurred		(6,519,848	)		-			(6,519,848	)
Balance at December 31, 2024		-			-			-
Liability incurred on flow-through shares issued		-			16,242,600			16,242,600
Settlement of flow-through share premium on expenditures incurred		-			(4,249,959	)		(4,249,959	)
Balance at September 30, 2025		-			11,992,641			11,992,641

	September 30, 2025 $		December 31, 2024 $
Accounts payable and accrued liabilities		3,913,045		4,898,825
Reclamation provision⁽¹⁾		2,598,695		2,426,378
Accounts payable and accrued liabilities, end of period		6,511,740		7,325,203

	September 30, 2025 $			December 31, 2024 $
Balance, beginning of period		2,426,378			1,285,031
Additions to reclamation provision		330,601			1,515,593
Change in estimate		(7,232	)		26,784
Reclamation costs incurred		(151,052	)		(401,030	)
Balance, end of period		2,598,695			2,426,378

Expiry date	Exercise Price		Outstanding December 31, 2024		Granted		Exercised			Cancelled/ Forfeited/ Expired			Outstanding September 30, 2025		Exercisable September 30, 2025
April 18, 2025	$	1.00		100,000		-		(100,000	)		-			-		-
May 23, 2025	$	1.075		75,000		-		(75,000	)		-			-		-
August 11, 2025	$	1.40		1,125,000		-		(1,125,000	)		-			-		-
September 3, 2025	$	2.07		50,000		-		(20,000	)		(30,000	)		-		-
October 1, 2025	$	2.15		25,000		-		(25,000	)		-			-		-
December 31, 2025	$	4.10		5,305,000		-		-			(4,530,000	)		775,000		775,000
April 29, 2026	$	6.79		891,500		-		-			(398,500	)		493,000		493,000
May 17, 2026	$	8.62		200,000		-		-			(200,000	)		-		-
September 27, 2026	$	8.70		125,000		-		-			-			125,000		125,000
November 8, 2026	$	8.04		7,500		-		-			-			7,500		7,500
January 4, 2027	$	8.98		15,000		-		-			(7,500	)		7,500		7,500
August 19, 2027	$	5.75		340,000		-		-			(150,000	)		190,000		190,000
September 8, 2027	$	5.00		20,000		-		-			-			20,000		20,000
December 27, 2027	$	5.68		2,037,750		-		-			(887,750	)		1,150,000		1,114,375
February 20, 2029	$	4.59		200,000		-		-			-			200,000		200,000
May 6, 2029	$	4.78		40,000		-		-			(40,000	)		-		-
May 13, 2030	$	1.67		-		3,770,000		-			-			3,770,000		1,166,667
September 26, 2030	$	2.97		-		809,167		-			-			809,167		-
				10,556,750		4,579,167		(1,345,000	)		(6,243,750	)		7,547,167		4,099,042
Weighted average exercise price $				3.97		1.90		1.38			4.68			3.32		4.42
Weighted average contractual remaining life (years)				1.50		-		-			-			3.41		2.34

Expiry date	Exercise Price		Outstanding December 31, 2023		Granted		Exercised			Cancelled/ Forfeited/ Expired			Outstanding September 30, 2024		Exercisable September 30, 2024
December 17, 2024	$	0.50		1,725,000		-		(175,000	)		-			1,550,000		1,550,000
April 18, 2025	$	1.00		100,000		-		-			-			100,000		100,000
May 23, 2025	$	1.075		75,000		-		-			-			75,000		75,000
August 11, 2025	$	1.40		1,125,000		-		-			-			1,125,000		1,125,000
September 3, 2025	$	2.07		50,000		-		-			-			50,000		50,000
October 1, 2025	$	2.15		25,000		-		-			-			25,000		25,000
December 31, 2025	$	4.10		5,305,000		-		-			-			5,305,000		5,305,000
April 29, 2026	$	6.79		962,875		-		-			(36,375	)		926,500		926,500
May 17, 2026	$	8.62		200,000		-		-			-			200,000		200,000
September 27, 2026	$	8.70		125,000		-		-			-			125,000		125,000
November 8, 2026	$	8.04		47,500		-		-			(40,000	)		7,500		6,375
January 4, 2027	$	8.98		22,500		-		-			(7,500	)		15,000		12,750
August 19, 2027	$	5.75		340,000		-		-			-			340,000		283,000
September 8, 2027	$	5.00		20,000		-		-			-			20,000		20,000
December 27, 2027	$	5.68		2,156,250		-		-			(116,250	)		2,040,000		1,926,375
February 20, 2029	$	4.59		-		200,000		-			-			200,000		200,000
May 6, 2029	$	4.78		-		40,000		-			-			40,000		4,000
				12,279,125		240,000		(175,000	)		(200,125	)		12,144,000		11,934,000
Weighted average exercise price $				3.97		4.62		0.50			6.48			3.99		3.96
Weighted average contractual remaining life (years)				2.25		-		-			-			1.56		1.53

	Nine months ended September 30,
	2025		2024
Weighted average:
Fair value of share purchase options granted	$	1.11	$	3.06
Fair value of share purchase options exercised	$	1.02	$	0.38
Closing share price at the date of exercise	$	2.32	$	4.24

Balance at December 31, 2024	$	-
Share-based compensation for the period		40,808
Forfeitures		-
Settlement		-
Balance at September 30, 2025	$	40,808

Vesting date	Number of RSUs
September 26, 2026		984,334
September 26, 2027		684,333
September 26, 2028		684,333
Total		2,353,000

Three months ended September 30, 2025	Salaries and Consulting $			Share-based compensation $		Bonus $		Total $
Keith Boyle, Chief Executive Officer		112,500			205,079		-		317,579
Melissa Render, President		90,000	⁽¹⁾		94,789		-		184,789
Hashim Ahmed, Chief Financial Officer		15,256			5,736		-		20,992
Robert Assabgui, Chief Operating Officer		13,542			2,704		-		16,246
Michael Kanevsky, Former Chief Financial Officer		204,120	⁽²⁾		-		-		204,120
Paul Huet, Director		41,229			334,132		-		375,361
William Hayden, Director		18,000			8,614		-		26,614
Chad Williams, Director		18,000			8,614		-		26,614
Vijay Mehta, Director		15,000			-		-		15,000
Tamara Brown, Director		8,400			8,614		-		17,014
Dr. Andrew Furey, Director		6,000			8,614		-		14,614
Total		542,047			676,896		-		1,218,943

Three months ended September 30, 2024	Salaries and Consulting $			Share-based compensation $		Bonus $		Total $
Collin Kettell, Former Executive Chairman and Chief Executive Officer		97,200			-		-		97,200
Denis Laviolette, Former President		68,040			-		-		68,040
Michael Kanevsky, Former Chief Financial Officer		29,160			-		-		29,160
Greg Matheson, Former Chief Operating Officer		70,680			-		-		70,680
Ron Hampton, Former Chief Development Officer		84,240	⁽¹⁾		21,269		-		105,509
Doug Hurst, Former Director		18,000			-		-		18,000
Raymond Threlkeld, Former Director		18,000			-		-		18,000
Vijay Mehta, Director		18,000			-		-		18,000
Total		403,320			21,269		-		424,589

	Level 1 –	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

	Level 2 –	Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability.

	Level 3 –	Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).

			Level 1 $		Level 2 $		Level 3 $		Total $

Recurring measurements	Carrying amount		Fair value
Investments		926,019		779,019		147,000		-		926,019
Secured notes		2,817,554		-		2,817,554		-		2,817,554

DESCRIPTION OF BUSINESS	3

PROJECT SUMMARY	4

QUEENSWAY MRE	7

QUEENSWAY PEA	8

MINERAL RESOURCE	10

EXPLORATION ACTIVITIES	11

PRE-DEVELOPMENT STUDIES AND NEXT STEPS	13

ENVIRONMENT AND SOCIAL RESPONSIBILITIES	14

OVERALL PERFORMANCE AND RESULTS OF OPERATIONS	14

LIQUIDITY AND CAPITAL RESOURCES	17

OUTSTANDING SHARE DATA	19

RELATED PARTY TRANSACTIONS	20

RISKS AND UNCERTANTIES	22

CRITICAL ACCOUNTING POLICIES AND ESTIMATES	22

FINANCIAL RISK MANAGEMENT	23

DISCLOSURE CONTROLS AND PROCEDURES	24

CAUTIONARY NOTES REGARDING FORWARD-LOOKING STATEMENTS	25

CAUTIONARY NOTES FOR UNITED STATES INVESTORS	27

OFF-BALANCE SHEET ARRANGEMENTS	27

PROPOSED TRANSACTIONS	27

ADDITIONAL INFORMATION	28

·	2016–2019:	Initial claim staking and grassroots exploration.
·	2020:	High-grade discovery at the Keats Zone, including drill intercepts of 92.96 g/t Au over 19.0 m.
·	2021–2023:	Drill expansion with over 500,000 meters drilled across multiple targets leading to several near-surface high-grade discoveries including Lotto, Golden Joint, Keats West, Iceberg, K2, Jackpot and Honeypot. Completion of deep 3D seismic survey for deep targeting.
·	2024:	Announcement the Company engaged SLR to conduct an initial mineral resource estimate (“MRE”) and preliminary economic assessment (“PEA”). Continued step-out drilling both near-surface and deep which doubled vertical extent of the gold mineral footprint to 830 m with a project total of 606,226 meters drilled by New Found. Gained an additional 13 km of strike along the AFZ with the acquisition of the Kingsway Project from Labrador Gold.
·	2025:	Completion of an initial MRE and PEA (see below and the Company’s news release dated March 24, 2025, and July 21, 2025).

	·	On July 9, 2025, the Company announced the results of the first phase of infill drilling targeting the high-grade corridor in the proposed Keats West open pit. The results confirmed the continuity of the high-grade with the highlight intervals of 55.0 g/t Au over 35.05 m, 20.7 g/t Au over 18.05 m and 15.4 g/t Au over 16.70 m and demonstrated the opportunity for further expansion beyond the current pit extents with the interval of 7.08 g/t Au over 15.55 m.
	·	On July 21, 2025, the Company announced the results of a PEA outlining a phased mine plan targeting initial gold production in 2027 with a 15-year LOM⁵, a LOM AISC² of US$1,256 and 1.5 Moz¹ of production. The PEA demonstrates a low-cost production profile with strong economics including a $743 million after-tax NPV ³, IRR⁴ of 56.3%, and less than 2-year after-tax payback at US$2,500 per ounce gold price.

	·	On September 2, 2025, the Company announced the results of Phase III Metallurgical test work confirming an overall recovery at Keats West of 89.2% and the filling of its Queensway Technical Report.
	·	On September 25, 2025, the Company announced the results from a channel sampling program at the Iceberg excavation. Highlights of this program include: 64.8 g/t Au over 6.71 m 23.9 g/t Au over 15.12 m, 113 g/t Au over 2.99 m, 47.4 g/t Au over 7.36 m, 23.0 g/t Au over 13.74 m, 117 g/t Au over 2.16 m confirming the high-grade at-surface continuity of the Iceberg zone.
	·	On October 15, 2025, the Company announced the results from step-out drilling at Dome targeting new high-grade mineralization discovered in Q4/24 at depth below the PEA pit shell, as well as infill drilling of the Lotto and Lotto North PEA pit shell. Highlight step-out results at Dome include 10.4 g/t Au over 20.50 m and 7.47 g/t Au over 13.40 m forming part of a newly identified high-grade domain starting 100 m below the current extent of the Dome PEA pit. Lotto and Lotto North highlights included 40.6 g/t Au over 2.80 m, 30.5 g/t Au over 2.05 m, 12.3 g/t Au over 2.25 m, 33.8 g/t Au over 2.05 m, 8.26 g/t Au over 4.40 m, and 13.5 g/t Au over 2.55 m. The results of this infill program conform well with the MRE block model and will be included in the next MRE update.

	·	On August 27, 2025, the Company announced the closing of a $20,000,000 private placement by 2176423 Ontario Ltd., a company controlled by Eric Sprott, and as a result Mr. Sprott now beneficially owns or controls 56,224,015 common shares representing approximately 23.1% on a non-diluted basis, and is a new “Control Person” (as defined by the policies of the TSX Venture Exchange) of the Company.
	·	On September 5, 2025, the Company announced it had entered into a definitive agreement to combine with Maritime Resources Corp. (“Maritime”) to become an emerging Canadian gold producer. The transaction is expected to create a multi-asset near-term gold producer in a tier 1 jurisdiction with significant regional synergies across its portfolio.
	·	On September 8, 2025, the Company announced a potential expansion of the Queensway Project by entering into a purchase agreement to acquire all of Exploits Discovery Corp.’s (“Exploits”) Newfoundland mineral licenses. The acquisition will increase New Found Gold’s land holdings by 33% and gain access to an additional 20 km of strike along the Appleton Fault Zone.
	·	On September 15, 2025, the Company announced that former Newfoundland and Labrador Premier, Dr. Andrew Furey joined the Board and strengthened its management team by appointing Hashim Ahmed as new Chief Financial Officer (“CFO”) and Robert Assabgui as new Chief Operating Officer (“COO”). Vijay Mehta stepped down from his role as Director and Michael Kanevsky as CFO.