New Found Gold is a Canadian gold exploration and development company focused entirely on Newfoundland and Labrador. The company operates two material properties. Queensway is the flagship asset — a large exploration-stage gold project spanning over 219,000 hectares in central Newfoundland with an initial mineral resource estimate and a preliminary economic assessment, but no declared mineral reserves. Hammerdown, acquired through the November 2025 takeover of Maritime Resources, is further along in development, with a first gold pour in November 2025 and a ramp-up to commercial production underway through 2026. Hammerdown benefits from an already-permitted mill at Pine Cove and a hydrometallurgical gold plant at Nugget Pond. New Found Gold does not yet generate meaningful revenue, and funds operations through equity raises and debt, including flow-through share financings and an at-the-market equity program. In March 2026, the company entered into a non-binding term sheet for a US$75M senior secured loan facility with Nebari Natural Resources Credit Fund II to fund Queensway development. Near-term strategy is to advance both properties in parallel: at Queensway, a Phase 1 EPCM contract was signed in January 2026, with an updated resource estimate planned for mid-2026; at Hammerdown, an updated resource estimate and preliminary economic assessment were published in February 2026. Once Hammerdown reaches commercial production and Queensway advances to a construction decision, revenue will be driven by gold production volumes and prevailing gold prices.