New Found Gold Files Hammerdown Gold Project NI 43-101 Technical Report
MWN-AI** Summary
New Found Gold Corp. (TSXV: NFG, NYSE American: NFGC) has filed a technical report detailing the Hammerdown Gold Project, titled "Preliminary Economic Assessment, Newfoundland and Labrador, Canada," with an effective date of February 18, 2026. This filing adheres to the National Instrument 43-101 standards, ensuring rigorous disclosure for mineral projects. The comprehensive report was prepared by WSP Canada Inc. and involves numerous qualified professionals, underscoring its credibility and thoroughness.
The Hammerdown Project is fully owned by New Found Gold and is located in Newfoundland and Labrador. In addition to Hammerdown, the company holds the Queensway Gold Project, which has shown promising results from recent drilling. The focus is on transitioning Hammerdown towards commercial gold production while also advancing Queensway, where there is potential for district-scale discoveries along a significant 110 km strike extent highlighted during recent drilling.
New Found Gold has undergone significant changes, including restructuring its board and management team throughout 2025 to bolster its growth and value creation strategies, supported by a solid shareholder base, including cornerstone investor Eric Sprott.
Keith Boyle, CEO and a qualified person under NI 43-101, emphasizes the importance of the technical report and the company's commitment to advancing both Hammerdown and Queensway projects. Despite the promising outlook, the company cautions investors about risks associated with exploration, funding, permitting, and potential geological challenges.
For those interested in further detailed information, the technical report is available on the SEDAR+ profile and SEC's EDGAR system.
MWN-AI** Analysis
In light of the recently filed NI 43-101 Technical Report for New Found Gold Corp's Hammerdown Gold Project, investors should take a measured approach to their market strategy. The report, authored by qualified professionals and indicating a comprehensive assessment of the project's economic viability, represents a significant step in the company's advancement toward production.
New Found Gold’s 100% ownership of the Hammerdown project, combined with the attached Pine Cove milling and tailings facilities, underscores the potential for streamlined operations. However, investors should remain cautious, as the report emphasizes the preliminary nature of economic assessments, pointing out that results may change as further detailed evaluations are performed.
The company's focus on the Queensway Gold Project, alongside Hammerdown, signals a broader growth strategy. The recent drilling results yielding promising discoveries highlight both the immediate potential of these assets and the prospects of expanding discoveries across a +110 km strike extent. This creates optimistic potential for future resource estimates, which could positively impact share valuations.
That said, potential investors must weigh risks, including the uncertainties surrounding the permitting process, funding, and operational challenges inherent to exploration and production activities. The mention of cornerstone investor Eric Sprott adds a level of credibility, but investors must continue to monitor market developments and shifts in investor sentiment.
For those considering an investment in New Found Gold, employing a long-term perspective could be beneficial, especially as the company strives to transition from exploration to production. Keeping abreast of operational updates and any shifts in the broader gold market will be essential to capitalizing on potential upside while managing risk effectively.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Vancouver, British Columbia--(Newsfile Corp. - March 17, 2026) - New Found Gold Corp. (TSXV: NFG) (NYSE American: NFGC) ("New Found Gold" or the "Company") is pleased to announce that, further to its press release dated February 26, 2026, the Company has filed a technical report for its 100% owned Hammerdown Gold Project ("Hammerdown"), titled: "New Found Gold Corp. Hammerdown Gold Project Preliminary Economic Assessment, Newfoundland and Labrador, Canada", with an effective date of February 18, 2026 (the "Technical Report").
The Technical Report has been filed in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). A copy of the Technical Report is available under the Company's SEDAR+ profile at www.sedarplus.ca and on the EDGAR system of the SEC at www.sec.gov.
The Technical Report was prepared by WSP Canada Inc. and authored by: Stephen Coates, P.Eng., Christian Beaulieu, P.Geo., Michael Levy, P.Eng., Chafana Hamed Sako, P.Geo., James Guiraud, P.Geo., Stacy J. Freudigmann, P.Eng., Sheldon H. Smith, P.Geo., J. Alex Mcintyre, P.Eng., Neil J. Lincoln, P.Eng., Dachun (David) Jin, P.Eng. and William Richard McBride, P.Eng., each a "Qualified Person" as defined under NI 43-101 and independent of New Found Gold.
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 the Queensway Gold Project ("Queensway") and Hammerdown, which includes the Hammerdown deposit and Pine Cove 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.
Throughout 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 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 and https://x.com/newfoundgold.
Qualified Person
The scientific and technical information disclosed in this press release was reviewed and approved by Keith Boyle, P.Eng., CEO, and a Qualified Person as defined under NI 43-101. Mr. Boyle consents to the publication of this press release by New Found Gold. Mr. Boyle certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.
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 Information
This press release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including statements including statements regarding advancing Queensway to production and bringing Hammerdown deposit into commercial gold production; statements regarding recent drilling results and district-scale potential that covers a +110 km strike extent along two prospective fault zones at Queensway; and the Company's focus on growth and value creation. 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 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288726
FAQ**
How does New Found Gold Corp.’s focus on advancing the Hammerdown Gold Project impact investor sentiment in Vancouver's mining sector, particularly regarding New Found Gold NFGFF's performance?
What recent developments or discoveries related to the Queensway Gold Project by New Found Gold NFGFF have created excitement within the Vancouver investment community?
In light of the technical report filed by New Found Gold NFGFF, what are the key economic factors that investors should consider when evaluating its potential contributions to Vancouver's gold production landscape?
How do the risks highlighted by New Found Gold NFGFF, such as regulatory uncertainties or funding challenges, influence the investment climate in Vancouver's mining industry?
**MWN-AI FAQ is based on asking OpenAI questions about New Found Gold Corp. (TSXVC: NFG:CC).
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