New Board Member Joins New Found Gold
New Found Gold Corp. (TSXV: NFG) is excited to announce the addition of Tamara Brown to its board of directors. Her extensive background in capital markets and the mining industry will contribute significantly to the company’s objectives. The board now includes notable individuals such as Paul Huet, Keith Boyle, William Hayden, Vijay Mehta, Melissa Render, Chad Williams, and our new member, Tamara Brown.
Highlights from the Annual General Meeting
During the recent Annual General Meeting, a key resolution was passed allowing the creation of a new "Control Person," Eric Sprott, anticipated to happen after the company's upcoming non-brokered private placement. This placement involves issuing approximately 12.2 million common shares at C$1.63 per share, aiming to raise around C$20 million.
Additional resolutions from the meeting included:
- Confirming seven directors on the board
- Appointing KPMG LLP as the company’s auditor
- Amending the stock option plan to a rolling 10% plan
- Approving a 5% rolling share unit plan
These decisions were taken with a majority vote and will enable New Found Gold to focus on its strategic initiatives.
Resumption of Exploration Activities
The company has resumed exploration activities at its 100% owned Queensway Gold Project. This follows the recent reduction in the Fire Weather Index, allowing safe operations involving heavy equipment, such as drilling and excavating. Previously, these activities were paused due to heightened forest fire risks in the region.
Keith Boyle, the Chief Executive Officer of New Found Gold, highlighted the favorable weather conditions allowing the exploration to proceed. The company is committed to ensuring the safety of its operations while closely monitoring the local weather conditions.
About the Queensway Gold Project
Located in a prime jurisdiction, the Queensway project encompasses a significant area with a wealth of gold resources. New Found Gold has conducted initial mineral resource estimates and a preliminary economic assessment, reinforcing its potential for growth.
Recent exploratory drilling has uncovered exciting new discoveries, enhancing the project’s prospects across various sectors of the property. The overall area targeted by New Found Gold covers approximately 175,450 hectares along 110 kilometers of prospective fault lines.
With a robust new management team and a strong shareholder base, which includes a 19% stake by Eric Sprott, New Found Gold is well-positioned for success as it advances its objectives at the Queensway project.
Contact Information
For more information about New Found Gold, visit the company's website or reach out through the investor inquiry form. Engage with us on various social media platforms to stay updated on our progress.
Frequently Asked Questions
What recent changes occurred at New Found Gold?
New Found Gold appointed Tamara Brown to its board of directors and resumed exploration at the Queensway Gold Project.
What is the significance of the new control person?
Eric Sprott's role as a control person will solidify investment in the company via a strategic private placement.
What activities have resumed at the Queensway project?
Heavy equipment exploration activities, like drilling and excavating, have resumed safely following improved weather conditions.
Why was the exploration paused previously?
Exploration was temporarily halted due to elevated fire risks in the region.
What is the future outlook for New Found Gold?
The company is strategically positioned for growth with a solid team, substantial resources, and new discoveries unfolding at Queensway.
