New Found Gold Engages Project Finance Advisor for the Queensway Gold Project

Executive Summary

• New Found Gold Corp. has engaged Cutfield Freeman & Co. Ltd. (CF&Co) as its independent project‑finance advisor for the Queensway Gold Project.
• CF&Co will assist management and the board in evaluating financing alternatives, liaising with potential lenders, managing due‑diligence, and recommending optimal financing structures for the $155 million Phase 1 capital program targeted for H2 2027.

Key Details

• Advisor Appointment: Cutfield Freeman & Co. Ltd., a global mining finance advisory firm, retained to act as project‑finance advisor.
• Mandate Scope:
• Develop and implement financing strategies for the Queensway Gold Project (Newfoundland & Labrador).
• Evaluate available financing alternatives and act as primary contact with financiers and debt‑instrument providers.
• Manage due‑diligence processes with short‑listed financiers.
• Advise New Found Gold’s management and board on final selection of financing options.
• Financing Target: $155 million initial capital expenditure required to fund Phase 1 production, currently targeted for the second half of 2027.
• CEO Comment: Keith Boyle highlighted that CF&Co’s expertise will help select optimal financing packages for development and construction of Queensway.
• Project Context: Queensway’s 2025 Preliminary Economic Assessment (PEA) underpins the $155 M capex estimate; recent drilling continues to expand known gold zones, supporting district‑scale potential.

Notable Quotes

“I am pleased to announce that we are working with CF&Co, a leading global mining finance firm with expertise in selecting optimal financing packages for the development and construction of mining projects.” – Keith Boyle, CEO, New Found Gold Corp.