New Found Gold (NFG) investor relations material

Production growth and assets

• Hammerdown entered commercial production at 700 tons/day; output projected at 20,000–25,000 oz/year, with CAD 2,500 AISC and CAD 35–40 million annual cash flow for G&A and exploration.

• Pine Cove mill expansion from 700 to 1,400 tons/day is underway, including conversion from flotation Merrill-Crowe to gravity CIL; expansion targeted for Q4 2027.

• Queensway first ore targeted for Q4 2027; production expected above 70,000 oz/year, with combined output targeting ~100,000 oz/year in 2028–2030 and 200,000 oz/year by 2031.

• Queensway plan phases development: 700 tons/day with offsite processing first, then a site mill and expanded production; phase one CapEx CAD 155 million, phase two CAD 442 million.

Funding and project economics

• At end-Q2, cash was CAD 194 million; April financing totaled CAD 220 million, comprising CAD 115 million equity and CAD 105 million debt, with CAD 35 million debt availability through April 2027.

• CAD 17 million in warrants due through September 2027 were described as well in the money; Hammerdown cash flow is projected to fund Queensway CapEx, with CAD 88 million projected cash at end-2027.

• Queensway base case used CAD 2,500 gold; a cited CAD 3,300 upside case showed CAD 1.5 billion NPV and 200% return.

Development milestones and execution

• Queensway updated mineral resource estimate and technical report expected in the coming weeks; environmental assessment targeted for early 2027, groundbreaking in Q2 2027, and first ore in Q4 2027.

• Phase two to advance through feasibility study, permit application and detailed engineering; Pine Cove expansion relies on construction execution and remaining permitting, concrete and building milestones.

• Queensway phase one includes a 4.5 km mine-plan strike; the larger property package spans 110 km, with a 1.5 km by 300 m Dropkick zone drilled in 2025 for inclusion in the upcoming resource update.