NEW FOUND ANNOUNCES INITIATION OF MAIDEN RESOURCE AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE QUEENSWAY PROJECT

VANCOUVER, BC, Nov. 6, 2024 /PRNewswire/ – Untouched Discovered Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (NYSE-A: NFGC) is happy to announce settingup of labor against a maiden useful resource estimate and initial financial evaluation (“PEA“) for the Queensway Challenge (“Queensway” or the “Project“), which incorporates a 1,756 km² branch, out there by way of the Trans-Canada Freeway, 15km west of Gander, Newfoundland and Labrador.

Highlights:

The Corporate has in demand SLR Consulting (“SLR“) to bring a maiden useful resource estimate and PEA, with an expected crowning glory week of Q2 2025. The appointment of SLR to bring a maiden useful resource and PEA is an noteceable milestone for the Challenge as it is going to handover the primary evaluation of mineral stock and challenge economics, together with money flows, NPV, IRR, and payback duration.
SLR, together with its Mining Advisory Staff (previously Roscoe Postle Mates Inc.), is a pace-setter in Mineral Useful resource estimation and mining challenge advisory with intensive enjoy in estimating gold mineralized techniques with fresh involvement with initiatives at the island of Newfoundland, together with generating mineral useful resource estimates, mining research and Nationwide Tool 43-101 technical studies. SLR’s mining advisory products and services come with geological, mining, metallurgical, tailings, and environmental consulting.
The objectives of the useful resource estimate and PEA are to spot imaginable challenge construction situations and exhibit the monetary attainable for the Challenge. As well as, the PEA will outline paintings techniques that may permit the Corporate to proceed the Challenge.

Ron Hampton, Leading Construction Officer of Untouched Discovered, said: “We are excited to initiate this study work that will be invaluable to defining our strategic development pathway. We believe the resource estimate and PEA is an important step in understanding the value potential of the Project and will provide the Company with a clear path forward to continue advancing Queensway.”

Certified Individual

The medical and technical knowledge disclosed on this press let fall used to be reviewed and licensed by way of Greg Matheson, P. Geo., Leading Working Officer, and a Certified Individual as outlined underneath Nationwide Tool 43-101. Mr. Matheson is of the same opinion to the newsletter of this press let fall dated November 6, 2024, by way of Untouched Discovered. Mr. Matheson certifies that this press let fall somewhat and correctly represents the medical and technical knowledge that methods the foundation for this press let fall.

About Untouched Discovered Gold Corp.

Untouched Discovered holds a 100% passion within the Queensway Challenge, situated 15km west of Gander, Newfoundland and Labrador, and simply 18km from Gander Global Airport. The challenge is intersected by way of the Trans-Canada Freeway and has logging roads crosscutting the challenge, towering voltage electrical energy traces operating during the challenge branch, and simple get admission to to a extremely professional group of workers. The Corporate is these days enterprise a 650,000m drill program at Queensway and is easily funded for this program with money and marketable securities of roughly $35 million as of November 2024.

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

Touch

To touch the Corporate, please discuss with the Corporate’s site, www.newfoundgold.ca and create your request via our investor inquiry method. Our control has a oath to be in contact with any investor inquiries inside of 24 hours.

Untouched Discovered Gold Corp.
In keeping with: “Collin Kettell”
Collin Kettell, Leading Government Officer
Electronic mail: [email protected]
Telephone: +1 (845) 535-1486

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

Ahead-Having a look Commentary Cautions

This press let fall incorporates positive “forward-looking statements” throughout the which means of Canadian securities regulation, with regards to the maiden useful resource estimate and PEA for the Challenge; the objectives and advantages of the useful resource estimate and PEA; the timing of the useful resource estimate and PEA; exploration, drilling and mineralization at the Challenge; the level of mineralization and the invention of zones of high-grade gold mineralization; plans for month exploration and drilling and the timing of identical; the deserves of the Queensway challenge; and investment of the drilling program. Even if the Corporate believes that such statements are affordable, it may give incorrect commitment that such expectancies will turn out to be right kind. Ahead-looking statements are statements that don’t seem to be ancient information; they’re typically, however now not at all times, known by way of the phrases “expects”, “plans”, “anticipates”, “believes”, “interpreted”, “intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”, “often”, “target”, “future”, “likely”, “pending”, “potential”, “goal”, “objective”, “prospective”, “possibly”, “preliminary”, and alike expressions, or that occasions or statuses “will”, “would”, “may”, “can”, “could” or “should” happen, or are the ones statements, which, by way of their nature, the following month occasions. The Corporate cautions that forward-looking statements are in response to the ideals, estimates and critiques of the Corporate’s control at the week the statements are made, they usually contain a lot of dangers and uncertainties. As a result, there will also be incorrect agreements that such statements will turn out to be correct and unedited effects and month occasions may just range materially from the ones expected in such statements. Apart from to the level required by way of appropriate securities rules and the insurance policies of the TSX Project Alternate, the Corporate undertakes incorrect legal responsibility to replace those forward-looking statements if control’s ideals, estimates or critiques, or alternative components, will have to alternate. Components that would reason month effects to range materially from the ones expected in those forward-looking statements come with dangers related to the Corporate’s skill to finish the maiden useful resource estimate and PEA, the effects and timing of the maiden mineral useful resource estimate and PEA, imaginable injuries and alternative dangers related to mineral exploration operations, the danger that the Corporate will come upon 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 store allowing and alternative governmental clearances vital to hold out the Corporate’s exploration plans, the danger that the Corporate will be unable to lift have sufficient funds to hold out its trade plans, and the danger of political uncertainties and regulatory or criminal adjustments that may intervene with the Corporate’s trade and potentialities. The reader is steered to the following the Corporate’s Annual Data Mode and Control’s dialogue and Research, publicly to be had during the Canadian Securities Directors’ Gadget for Digital File Research and Retrieval (SEDAR+) at www.sedarplus.ca for a extra whole dialogue of such possibility components and their attainable results.

SOURCE Untouched Discovered Gold Corp.