New Found Gold's Revised PEA For Queensway Project in Newfoundland Sees Jump in NPV

05:25 PM EDT, 10/22/2026 (MT Newswires) -- New Found Gold (NFGC.TO) said Thursday after trade that a revised preliminary economic assessment of its Queensway Gold Project in Newfoundland more than doubles its after-tax net present value (NPV) to CA$1.73 billion. The estimate is calculated on a base case $3,600 per ounce of gold, a statement said. The NPV rises to CA$2.22 billion in the upside case with gold at $4,100 per ounce of gold. The measured and indicated mineral resource at the project increased by 38% to 1.92 million ounces of gold, due to the addition of the Dropkick zone, the statement added. New Found Gold shares closed down CA$0.18 at CA$2.19 on the Toronto Stock Exchange.