New Found Gold (NFG) 2025 Precious Metals Summit - Beaver Creek summary

Strategic combination and recent developments

• Announced acquisition of Maritime and additional property from Exploits, strengthening asset base and exploration potential.

• New leadership and board changes since December, focusing on development and operational expertise.

• Combination brings together producing and developing mines, with two processing facilities under control.

• Pro forma capitalization includes CAD 109 million cash and no debt, supporting a strong balance sheet.

Production plans and phased growth

• Hammerdown Mine is fully permitted, financed, and set to begin production within weeks, targeting 40,000–50,000 ounces annually.

• Queensway project follows a phased approach: phase one targets 69,000 ounces/year, phase two increases to 172,000 ounces/year.

• Cash flow from Hammerdown and phase one will fund phase two expansion, with break-even gold price at $2,650/oz.

• Combined production expected to exceed 200,000 ounces/year after phase two, with significant re-rate potential.

Exploration and property upside

• 110-kilometer property package offers extensive exploration targets, including Keats West, Iceberg, Lotto, and Dropkick.

• Recent drilling confirms high-grade results and block model reliability; underground potential remains largely untapped.

• Additional regional targets along two main fault zones and newly acquired Exploits ground provide further upside.

• Hammerdown area also holds near-mine and greenfield exploration opportunities, with future funding expected from operational cash flow.