VANCOUVER,
BC, March 3, 2025 /CNW/ - New Found Gold Corp.
("New Found" or the "Company") (TSXV: NFG) (NYSE-A:
NFGC) is pleased to announce the appointment of Chad Williams to its board of directors (the
"Board"). Effective immediately, Mr. Williams will replace
Collin Kettell, Founder of New
Found, who is stepping off the Board.
Mr. Williams is the Chairman and Founder of Red
Cloud Mining Capital Inc. He has extensive experience in mining
finance and management, having previously held the positions of CEO
of Victoria Gold Corp. and Head of Mining Investment Banking at
Blackmont Capital Inc., and was a highly ranked mining analyst at
TD Bank and other Canadian brokerage firms.
Paul Huet,
Chairman of New Found, stated "We are excited to have Chad join
the Board as an Independent Director. With his extensive capital
markets experience and depth of knowledge of the mining industry,
Chad is an excellent addition to the Board."
"I would like to take this opportunity to
sincerely thank Collin for his significant contributions to New
Found. He was instrumental in the discovery of the Queensway Gold
Project and remains a supportive major shareholder of the
Company", continued Mr. Huet.
About New Found Gold Corp.
New Found holds a 100% interest in the
Queensway Gold Project ("Queensway" or the
"Project") in Newfoundland
and Labrador, a Tier 1
jurisdiction with excellent infrastructure and a skilled local
workforce.
With over 600,000 metres of drilling completed
since 2020, the Company has outlined multiple near-surface,
high-grade gold discoveries over a 22 kilometre strike
extent. Recent drilling continues to yield new discoveries
along strike and down dip of known gold zones, pointing to the
district-scale potential of the 175,600 hectare Project that covers
a 110 km strike extent along two prospective fault zones.
The Company has recently commissioned an initial
mineral resource estimate and preliminary economic assessment,
which are scheduled for completion in early and late Q2/25,
respectively.
New Found has a new management team in place, a
solid shareholder base, which includes an 18% holding by
Eric Sprott, and is focused on
growth and value creation at Queensway.
Please see the Company's website at
www.newfoundgold.ca and the Company's SEDAR+ profile
at www.sedarplus.ca.
Keith Boyle
Chief Executive Officer
New Found Gold Corp.
Contact
For further information on New Found, please
visit the Company's website at www.newfoundgold.ca, contact us
through our investor inquiry form at
https://newfoundgold.ca/contact/ or contact:
Fiona Childe,
Ph.D., P.Geo.
Vice President, Communications and Corporate Development
Phone: +1 (845) 535-1486
Email: contact@newfoundgold.ca
Follow us on social media at
https://www.linkedin.com/company/newfound-gold-corp
https://x.com/newfoundgold
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain
"forward-looking statements" within the meaning of Canadian
securities legislation, relating to the initial mineral resource
estimate and preliminary economic assessment for the Queensway
Project and the timing thereof; the benefits of the management and
Board changes; growth and value creation; exploration, drilling and
mineralization on the Queensway Project; plans for future
exploration and drilling; the jurisdiction of the Queensway
Project; and the merits of the Queensway Project. 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", "encouraging", "pending",
"potential", "goal", "objective", "opportunity", "prospective",
"possibly", "preliminary", and similar expressions, or that events
or conditions "will", "would", "may", "can", "could" or "should"
occur, or are those statements, which, by their nature, refer to
future events. The Company cautions that forward-looking statements
are based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made, and they involve a
number of risks and uncertainties. Consequently, there can be no
assurances that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Except to the extent required by
applicable securities laws and the policies of the TSX Venture
Exchange, the Company undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause
future results to differ materially from those anticipated in these
forward-looking statements include risks associated with the
Company's ability to complete the initial mineral resource estimate
and preliminary economic assessment, the results and timing of the
initial mineral resource estimate and preliminary economic
assessment, 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, drilling and assay results, 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.
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SOURCE New Found Gold Corp.
