New Found Gold Corp. - Hammerdown Gold Project Update

New Found Gold Corp. provided an update on its Hammerdown Gold Project, reporting steady progress towards commercial production in H2/2026. The company has achieved steady-state delivery of gold to the mill, with gold reconciling from the block model. Key advancements include zero Lost Time Incidents in Health & Safety, established mining contracts, completion of overburden stripping, and establishment of the main access ramp. The mill is nearing design capacity with continuous improvements in grade control and throughput, exceeding the preliminary economic assessment (PEA) criteria. Human resources have expanded with 50 new hires, primarily from Newfoundland and Labrador, creating 40 new jobs. The project remains on schedule for commercial production in H2/2026. Mark Ross has been appointed General Manager, Mines. Drilling programs are ongoing to optimize production and convert inferred resources. Gold recovery is averaging 87% and is expected to increase to 92% after circuit conversion.