New Found Gold (TSX-V: NFG; NYSE-A: NFGC) reported additional grade control drilling results from the Keats zone excavation in the AFZ Core at its Queensway gold project in Newfoundland and Labrador.
The company said the 2025 Keats excavation grade control drill program comprised 1,230 metres of drilling in 36 diamond drill holes and forms part of a larger program of 84 holes totaling 2,773 metres. New Found Gold highlighted several high-grade intercepts, including 508 g/t gold over 2.20 metres from 16.80 metres (NFGC-25-GC-024), 113 g/t gold over 3.75 metres from 11.90 metres (NFGC-25-GC-025), 9.29 g/t gold over 37.60 metres from 12.00 metres (NFGC-25-GC-027), and 27.0 g/t gold over 10.00 m from surface (NFGC-25-GC-033), and said these results continue to demonstrate a high-grade tenor and near-surface continuity at Keats.
“Building on the initial Keats zone grade control drill results released in late 2025, these new results continue to demonstrate the high-grade tenor of this zone. The five by five metre spaced drilling is confirming strong continuity of gold mineralization occurring at or within a few metres of surface. We look forward to updating the market with the results of the remaining 2025 grade control drilling from both Keats and the Iceberg zone when available," Melissa Render, president of New Found Gold, said.
The company said results to date correlate well with the initial mineral resource estimate block model and improve definition of high-grade mineralized shoots, most of which occur at or within a few metres of surface. New Found Gold said the detailed geostatistical data from the grade control phase will support validation of resource models and increase confidence in grade-capping and influence-limiting parameters ahead of a mineral resource estimate update and subsequent mine planning.
New Found Gold noted the Keats and Iceberg zones lie within the Keats-Baseline Fault Zone, which the company has defined over a current strike length of 1.9 kilometres and which drilling in 2024 confirmed extends to vertical depths of up to 1.1 kilometres. The company reported that its 2025 Queensway drill program included 74,377 metres of drilling in 614 diamond holes, with roughly 75% focused on the AFZ core to support phase 1 mine planning in the company’s preliminary economic assessment and 25% on exploration targets.
The company said approximately 50% of 2025 drilling results remain outstanding and that its 2026 Queensway drill program is underway with four rigs active. New Found Gold plans to expand grade control drilling beginning in the second quarter of 2026 to complete initial grade-control at the Iceberg excavation, commence drilling at the Lotto excavation, and potentially expand drilling at Keats and Iceberg to support PEA phase 1 open pits and future resource conversion phases.
The company plans to file an updated technical report with an updated mineral resource estimate in mid-2026.
More information can be found at www.NewFoundGold.ca
February 2, 2026
January 30, 2026
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