New Found Gold Sees 2.5% Gain in US After-Hours Trading Following Phase III Metallurgical Test Work Results

New Found Gold's stock rose 3% in after-hours trading following the release of Phase III metallurgical test work results. The company announced positive results, boosting investor confidence.

Title: New Found Gold's Queensway Project Showcases Positive Metallurgical Test Results

VANCOUVER, BC, Sept. 2, 2025 - New Found Gold Corp. ("New Found Gold" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) reported encouraging results from its Phase III Metallurgical Testing Program on the Queensway Gold Project, located in Newfoundland and Labrador, Canada. The stock rose 3% in after-hours trading following the announcement, reflecting investor confidence in the project's potential.

The Phase III program focused on master composites from the Keats West zone and re-evaluated select low-grade samples from the Keats, Golden Joint, Lotto, and Iceberg zones. The program confirmed the recovery used in the preliminary economic assessment (PEA) and achieved an average gold recovery of 89.2% from Keats West, which is slightly higher than the 88% recovery used in the PEA. The results also indicated that the project can produce a saleable gold concentrate, as per the flowsheet presented in the PEA.

Additional metallurgical test work is planned for the second half of 2025, including sensor-based sorting, comminution, mineralogy, gravity, cyanidation leaching, flotation, and equipment sizing tests. These tests aim to further optimize the flowsheet and support the Queensway Feasibility Study.

New Found Gold's Chief Executive Officer, Keith Boyle, commented on the results, stating, "We are pleased with the results of the most recent phase of metallurgical test work at Queensway, which confirms high gold recovery to a saleable gold concentrate from Keats West and the flowsheet outlined in the recently released Queensway PEA. The next round of metallurgical test work, which is planned to commence in Q4 2025, will support the Queensway Feasibility Study."

The Queensway project holds significant potential, with recent drilling continuing to yield new discoveries along strike and down dip of known mineralization. The company's focus on advanced metallurgical testing and optimization is a key factor in building investor confidence and positioning the project for future success.

References
[1] https://www.nasdaq.com/press-release/new-found-gold-announces-results-phase-iii-metallurgical-test-work-confirms-keats