New Found Gold (TSX:NFGC) - Queensway PEA & MRE Update

New Found Gold's updated Queensway PEA shows a fully funded, de-risked 126% IRR project targeting first ore in Q4 2027.

• PEA economics jump: Revised PEA at US$3,600/oz gold shows after-tax NPV5% of C$1.728B, 126% IRR, under 1-year payback, 1.744Moz over 15 years.
• Resource grows, grade holds: M&I ounces up 38% to 1.920Moz via 5x5m grade-control drilling; Phase 1 grades 13.41 g/t with 97% in M&I category.

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