New Found Gold expands high grade mineralization at Queensway gold project

New Found Gold (TSXV: NFG; NYSE-A: NFGC) announced new drill results from the company's Queensway gold project in Newfoundland and Labrador. New Found Gold’s Queensway gold project involves 175,600 ha and is located 15 km west of Gander, Newfoundland and 18 km from Gander International Airport.

These results are from follow-up drilling that expanded Golden Dome 18 metres and 92 metres along strike, respectively, from the discovery hole NFGC-24-2158 (343 g/t gold over 2.15 metres, 40.6 g/t gold over 2.20 metres and 9.51 g/t gold over 7.45 metres).

The company provided the following highlighted results: 51.2 g/t gold over 13.30 metres (NFGC-24-2227); 9.33 g/t gold over 6.35 metres (NFGC-24-2217); and 5.60 g/t gold over 8.90 metres (NFGC-24-2230).

Drill teams spaced the holes 20 metres to 30 metres apart (down-dip direction) and 50m below past drilling at Dome in a step-out program to test the mineralized structure at depth.

Melissa Render, president of New Found Gold, stated: "We are very encouraged by our continued success at Golden Dome. These results indicate excellent potential for further expansion of this recent discovery, located between the Lotto and Dome zones and along the highly prospective Appleton fault zone.

"With recent success at Golden Dome, further drilling at the nearby Dome structure was a priority and has delivered strong results we can build on. Ongoing discoveries like Golden Dome and Dome demonstrate there are still many gaps in highly prospective areas within 200m of surface that warrant additional drill testing."

New Found Gold has planned follow up expansion drilling at Golden Dome, as this mineralized structure is open to depth, towards surface and along strike.

The company has characterized Dome by high-grade veining exposed at surface, with previous drill testing within 100 metres of surface. Work teams are planning to expand step-out drilling at depth where there is currently limited testing.

Balancing the drilling of high priority target areas like Golden Dome and Dome, versus testing new near surface targets such as the Dropkick Zone. Company officials said in 2025 the focus of exploration drilling will be on a further 11km along strike to the northeast of the key zones of Keats, Keats West and Iceberg.

Finally, the company completed an additional 2,524 metres in five DDH at Golden Dome and Dome in the fourth quarter of 2024. New Found Gold will release these assay results once they are available.  More information is posted at www.NewFoundGold.ca.