New Found Gold Corp. is advancing its Hammerdown Gold Project in Newfoundland and Labrador, Canada, with significant operational, technical, and organizational developments aimed at supporting near-term production growth and long-term resource expansion across its Queensway and Hammerdown assets.
The company has appointed Mark Ross, P.Geo. as General Manager, Mines, marking a key step in strengthening operational leadership at Hammerdown. Based in Springdale, Newfoundland and Labrador, Ross brings more than two decades of experience across gold, copper, and diamond mining operations, with deep expertise in grade control, mine planning, resource modelling, and integrated technical services.
Ross previously served directly within New Found Gold’s operations, including as Hammerdown Mine Manager, where he led team development, established operational systems, and supported the ramp-up of mining activities. He also held the role of Queensway Site Manager, overseeing exploration programs on-site. His appointment is expected to reinforce coordination between geology, engineering, and production teams as mining scales up.
Workforce Expansion and Local Hiring Strategy
New Found Gold has significantly expanded its operational workforce following the Hammerdown acquisition. The company has added approximately 50 new personnel, with further hires planned, including an additional 14 employees scheduled to join in June.
Key roles filled include senior technical and operational positions such as:
- General Manager
- Chief Mine Geologist
- Safety and Environment Coordinator
- Metallurgist
- Processing Projects Manager
- Exploration Manager
In total, the expansion has generated around 40 new jobs, with more than 90% of full-time and student hires sourced locally from Newfoundland and Labrador, reinforcing the company’s regional employment strategy. At present, 76 employees and 188 contractors are actively engaged at the Hammerdown site.
Mining Operations and Mill Performance Improving
Operationally, the company reports that gold production reconciliation between the Hammerdown block model and the processing mill is improving, supported by refined grade control drilling practices. The mill initially operated using low-grade stockpiles through Q3 2025, followed by commissioning of key handling infrastructure in Q1 2026. Engineering work is now underway to install new regrind mills, replacing existing equipment, with completion expected in Q4 2026. Processing performance continues to improve, with gold recovery averaging approximately 87%, and is expected to rise to around 92% once the mill is fully converted from a flotation–Merrill-Crowe system to a gravity–carbon-in-leach (CIL) circuit.
Drilling Programs Support Grade Control and Future Expansion
The Hammerdown deposit is a high-grade, narrow-vein gold system, previously mined using underground selective methods and now being developed through open-pit mining operations.
A major 20,000-metre grade control drilling program (5 x 5 metre grid spacing) began in Q2 2026, with approximately 7,000 metres completed to date. This program is designed to optimize short-term mine scheduling and improve mill feed quality, with early results already indicating stronger grade consistency and improved delivery to the processing plant.
In addition, a 10,000-metre resource conversion and condemnation drilling program is planned for 2026. This initiative aims to upgrade inferred resources within the Phase II Hammerdown pit area, scheduled for mining in 2028, and will support a future updated mineral resource estimate in 2027.
Resource Development and Project Framework
The company notes that its preliminary economic assessment (PEA) includes inferred mineral resources that remain geologically uncertain and are not classified as mineral reserves. As such, the economic viability of the project is not yet fully established, and there is no certainty that the PEA outcomes will be realized.
Qualified Person Review
All scientific and technical disclosures in this update were reviewed and approved by Keith Boyle, P.Eng., CEO of New Found Gold, who qualifies as a Qualified Person under National Instrument 43-101.
About New Found Gold
New Found Gold is a Canadian gold exploration and development company focused on advancing its Queensway and Hammerdown projects in Newfoundland and Labrador. The company holds a 100% interest in both assets, including associated milling and tailings infrastructure at Pine Cove.
The company’s near-term objective is to bring Hammerdown into commercial production in H2 2026, while continuing to advance Queensway toward future development stages. Its broader land package at Queensway spans more than 110 kilometres of strike length across two major fault zones, representing a district-scale exploration opportunity supported by a strong shareholder base, including prominent mining investor Eric Sprott.
