VANCOUVER, BC, April 15, 2025 /PRNewswire/ – Unused Discovered Gold Corp. (“New Found Gold” or the “Company“) (TSXV: NFG) (NYSE-A: NFGC) is happy handover an outline of, and plans for, the Queensway Gold Mission (“Queensway” or the “Project“) and has filed the technical file for the preliminary mineral useful resource estimate (“MRE“) for the Mission (the “Technical Report“).

Queensway Highlights:

• Tier 1 Jurisdiction:
• Mining-positive executive, get entry to to freeway, port, airport, low cost inexperienced energy and professional native body of workers
• Preliminary Mineral Useful resource Estimate:
• 70% of the preliminary MRE oz are within the indicated division
• 18.0 Mt¹ grading 2.40 g/t Au², for 1.39 Moz³ (indicated)
• 10.7 Mt grading 1.77 g/t Au, for 0.61 Moz (inferred)
• Top-Grade Veins Uncovered at Floor:
• 73% of the oz are contained in 24% of the tonnage (indicated) throughout the Mineral Useful resource pit shells
• The chance for high-grade starter pits is being investigated as a part of the initial financial evaluate (“PEA“) these days underway and scheduled for let fall in past due Q2/25
• Making plans to begin bulk sampling H1/26
• Flexible Reserve:
• The Mineral Sources are outlined inside a sequence of viewable pits, which creates flexibility with admire to mine making plans, grade sequencing and tailings deposition methods
• The possible to leverage in-pit tailings attic is being investigated as a part of the PEA
• Mission Expansion:
• Infill: the preliminary MRE revolutionary action for enlargement between and throughout the preliminary MRE pit shells 
• Enlargement: just lately introduced high-grade gold intersections past the preliminary MRE footprint demonstrates that gold mineralization residue viewable for enlargement each alongside accident and at intensity; presen drilling focussed inside 200 m of floor in a lower than 5% portion of the 110 km lengthy accident extent of the 2 primary constructions controlling gold mineralization

Keith Boyle, CEO of Unused Discovered Gold commented: “New Found Gold has begun a new chapter, with an initial mineral resource completed in Q1/25 and a preliminary economic assessment scheduled for completion in late Q2/25. As a mining engineer with 40 years of experience in development and operations, much of which was spent working on projects with parallels to Queensway, I can see the unique opportunity we have at New Found Gold. We are rapidly advancing with the PEA, while at the same time continuing to explore our highly prospective landholdings targeting additional discoveries similar to Keats and Iceberg.”

Unused Discovered Gold’s flow Company Presentation can also be considered in 3-d at the Corporate’s site or the usage of VRIFY at: https://vrify.com/decks/18603

Taking a look Forward:

• Absolutely Funded PEA Underway:
  • Deliberate let fall past due Q2/25
• 2025 Drill Marketing campaign:
  • Making plans underway for mid Q2/25 get started
  • Number one center of attention on useful resource conversion (infill, enlargement, extensions)
  • Secondary center of attention on exploration (discovery of spare primary deposits alongside the 110 km lengthy accident extent of the Mission)
• Bulk Pattern:
  • To substantiate grade perpetuity and validate useful resource type
  • Making plans underway to begin H1/26
• Metallurgy:
  • Spare take a look at paintings is ongoing
• Allowing and Environmental Baseline Research:
  • Paintings is ongoing to backup age research and allow programs

Technical File and Preliminary MRE:

The Technical File was once ready via SLR Consulting (Canada) Ltd. (“SLR“) in line with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (“CIM“) Definition Requirements and Canadian Nationwide Tool 43-101 (“NI 43-101“) and filed below the Corporate’s profile on SEDAR+ at www.sedarplus.ca. SLR is isolated of Unused Discovered Gold.

Refer to is the flow Mineral Useful resource Estimate as at March 15, 2025 (the “Effective Date“) as introduced within the Unused Discovered Gold information let fall dated March 24, 2025.

Desk 1: MRE Abstract (as on the Efficient Future)

Notes:

Grade-Tonnage via Trim-off Grade:
Desk 2a and 2b display the adaptation in tonnes and grades at diverse gold cut-off grades (“COG“) throughout the AFZ Core useful resource pit shell. At a cut-off grade of two g/t Au and throughout the useful resource pit shell, the Indicated Mineral Useful resource blocks overall 3,854 thousand tonnes (“kt“) at a grade of seven.16 g/t Au for 887 thousand oz (“koz“) and the Inferred Mineral Useful resource blocks overall 993 kt at a grade of four.16 g/t Au for 133 koz. This represents 73% of the contained oz in best 24% of the tonnage for the indicated division best.

The chance for high-grade starter pits is being investigated as a part of the PEA.

Desk 2a: AFZ Core Revealed Pit Indicated Grade-Tonnage Desk (as on the Efficient Future)

Desk 2b: AFZ Core Revealed Pit Inferred Grade-Tonnage Desk (as on the Efficient Future)

Information Verification
The knowledge old on this Mineral Useful resource Estimate is supported via Attribute Guarantee and Attribute Regulate (“QA/QC“) procedures, such because the insertion of qualified requirements and blanks into the pattern flow and the usage of qualified isolated analytical laboratories for all assays. The QA/QC information and technique at the mission had been reviewed and might be summarized within the NI 43-101 technical file.

Pierre Landry, P.Geo. of SLR, an isolated Certified Individual in line with the necessities of NI 43-101, has reviewed the adequacy of pattern preparation, safety, and analytical procedures performed via Unused Discovered Gold from the beginning of the Queensway exploration techniques in 2019 via to the Efficient Future. This evaluate discovered deny subject material problems or inconsistencies that might adversely have an effect on the constituent or reliability of the knowledge. The QP is of the opinion that:

• NFG’s pattern preparation procedures are suitable for the storehouse kind and mineralization taste.
• Analytical forms old, together with hearth assay, photon assay, and display screen hearth assay, are appropriate for figuring out gold grades within the Mission.
• The QA/QC program, which contains CRMs, blanks, and duplicates, is well-structured, meets business requirements, and gives self belief within the assay information.
• Pattern security features and chain of custody protocols are ample to assure the integrity of the knowledge.

General, Pierre Landry, P.Geo. of SLR, an isolated Certified Individual in line with the necessities of NI 43-101, is of the opinion that NFG’s sampling, analytical forms, and QA/QC program meet business requirements and are appropriate for virtue within the Mineral Useful resource estimate.

Information verification for the drill hollow database integrated evaluating gold assay values old to backup the Mineral Useful resource estimate towards the actual analytical certificate from ALS and MSALABS, the principle laboratories old via NFG between 2019 and 2024. The evaluate lined quite a few assay forms together with: hearth assay with AAS or gravimetric end, photon assay, and display screen hearth assay.

SLR discovered deny subject material discrepancies recognized that will affect the validity of the Mineral Useful resource estimate. SLR’s QP is of the opinion that the verification procedure confirms the reliability of the assay database, making sure its suitability for virtue for Mineral Useful resource estimation.

According to NI 43-101, Pierre Landry, P.Geo., of SLR, performed a website consult with to the Mission and homogeneous amenities on October 24 and 25, 2024. All over this consult with, he inspected the Keats and Iceberg trenches, the core shack, and reviewed the logging condition and procedures for information assortment and sampling. He additionally tested core samples from the AFZ Core, AFZ Peripheral, and JBP deposits. As well as, he interviewed NFG’s team of workers and collected data important for finishing the Mineral Useful resource estimate and accompanying Technical File.

Mr. Landry additionally inspected drill collars and drill hollow cores related to the Mineral Useful resource estimation, verifying collar places the usage of a hand-held GPS and visually evaluating mineralization with interpreted drilling divisions. NFG equipped complete get entry to to all amenities and team of workers all through the consult with. Mr. Landry was once accompanied via Melissa Render, President of NFG.

Certified Individual

The preliminary MRE for Queensway was once ready via Pierre Landry, P.Geo. of SLR, an isolated Certified Individual in line with the necessities of NI 43-101, who has reviewed and authorized the contents of this information let fall.

The medical and technical data disclosed on this press let fall was once reviewed and authorized via Melissa Render, P.Geo., President, and a Certified Individual as outlined below NI 43-101. Ms. Render concurs to the e-newsletter of this press let fall dated March 24, 2025, via Unused Discovered Gold. Ms. Render certifies that this press let fall slightly and appropriately represents the medical and technical data that modes the foundation for this press let fall.

About Unused Discovered Gold

Unused Discovered Gold holds a 100% passion in Queensway, situated in Newfoundland and Labrador, a Tier 1 jurisdiction with skillful infrastructure and a talented native body of workers.

The Corporate has finished an preliminary mineral useful resource estimate at Queensway (see New Found Gold news release dated March 24, 2025). A completely funded initial financial evaluate is underway, with of entirety scheduled for past due Q2/25.

Contemporary drilling continues to giveover untouched discoveries alongside accident and i’m sick dip of identified gold zones, pointing to the district-scale attainable of the 175,600 hectare mission that covers a 110 km accident extent alongside two potential fault zones.

Unused Discovered Gold has a untouched control workforce in park, a forged shareholder bottom, which contains an 19% preserving via Eric Sprott, and is considering enlargement and price settingup at Queensway.

The following the Corporate’s site at www.newfoundgold.ca and the Corporate’s SEDAR+ profile at www.sedarplus.ca.

Keith Boyle
Prominent Govt Officer
Unused Discovered Gold Corp.

Practice us on social media at
https://www.linkedin.com/company/newfound-gold-corp
https://x.com/newfoundgold  

Neither the TSX Challenge Trade nor its Legislation Products and services Supplier (as that word is outlined within the insurance policies of the TSX Challenge Trade) accepts duty for the adequacy or accuracy of this let fall.

Ahead-Taking a look Observation Cautions

This press let fall accommodates sure “forward-looking statements” throughout the that means of Canadian securities regulation, on the subject of exploration, drilling and mineralization at the Queensway Mission; the preparation, timing and of entirety of the initial financial evaluate; the chance for high-grade starter pits; the development of Queensway; the preliminary MRE; enlargement attainable; the flexibility of the storehouse; plans for age exploration and drilling and the timing thereof; spare metallurgical testwork; the jurisdiction of the Queensway Mission; and the deserves of the Queensway Mission. Even though the Corporate believes that such statements are affordable, it can provide deny commitment that such expectancies will end up to be proper. Ahead-looking statements are statements that don’t seem to be historic info; they’re most often, however now not all the time, recognized via the phrases “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”, “often”, “target”, “future”, “likely”, “encouraging”, “pending”, “scheduled”, “potential”, “goal”, “objective”, “opportunity”, “prospective”, “possibly”, “preliminary”, and matching expressions, or that occasions or statuses “will”, “would”, “may”, “can”, “could” or “should” happen, or are the ones statements, which, via their nature, the following age occasions. The Corporate cautions that forward-looking statements are according to the ideals, estimates and critiques of the Corporate’s control at the era the statements are made, and so they contain quite a few dangers and uncertainties. In consequence, there can also be deny word of honour that such statements will end up to be correct and untouched effects and age occasions may fluctuate materially from the ones expected in such statements. Apart from to the level required via acceptable securities regulations and the insurance policies of the TSX Challenge Trade, the Corporate undertakes deny legal responsibility to replace those forward-looking statements if control’s ideals, estimates or critiques, or alternative components, must exchange. Components that might purpose age effects to fluctuate materially from the ones expected in those forward-looking statements come with dangers related to the Corporate’s skill to finish the initial financial evaluate, the effects and timing of the initial financial evaluate, imaginable injuries and alternative dangers related to mineral exploration operations, the danger that the Corporate will come across unanticipated geological components, dangers related to the translation of exploration, drilling and assay effects, the chance that the Corporate would possibly not be capable to accumulation allowing and alternative governmental clearances important to hold out the Corporate’s exploration plans, the danger that the Corporate will be unable to boost possess sufficient resources to hold out its trade plans, and the danger of political uncertainties and regulatory or felony adjustments that may intervene with the Corporate’s trade and potentialities. The reader is advised to the following the Corporate’s Annual Knowledge Method and Control’s Dialogue and Research, publicly to be had during the Canadian Securities Directors’ Gadget for Digital Record Research and Retrieval (SEDAR+) at www.sedarplus.ca for a extra entire dialogue of such chance components and their attainable results.

SOURCE Unused Discovered Gold Corp.