Newfoundland & Labrador Ranked #4 Mining Jurisdiction in the World by Fraser Institute
05 May 2023 - 8:30PM
Business Wire
New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) announces that
Newfoundland & Labrador has been ranked the 4th most attractive
jurisdiction in the world in terms of mining investment according
to the Fraser Institute’s 2022 Annual Survey of Mining Companies
(the “Report”) released this week.
The Report ranks 62 jurisdictions worldwide based on their
geologic attractiveness and government policies affecting
exploration investment. The jurisdiction of Newfoundland &
Labrador has moved up from 21st place in the Fraser Institute’s
annual report for 2021.
Ron Hampton, Chief Development Officer of New Found, commented:
“We are pleased that the Fraser Institute recognizes what New Found
has known all along, that Newfoundland and Labrador is a world
leading jurisdiction for exploration and mine development. New
Found’s Queensway project not only benefits from this world class
jurisdiction, but also benefits from excellent logistics being next
to the Trans-Canada highway, with access to renewable hydro power
on site, and an available local workforce along with community and
government support. With all these positives, the Queensway project
is a developer’s dream situation.”
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project,
located 15km west of Gander, Newfoundland and Labrador, and just
18km from Gander International Airport. The project is intersected
by the Trans-Canada Highway and has logging roads crosscutting the
project, high voltage electric power lines running through the
project area, and easy access to a highly skilled workforce. The
Company is currently undertaking a 500,000m drill program at
Queensway and is well funded for this program with cash and
marketable securities of approximately $60-million as of May
2023.
Please see the Company’s website at www.newfoundgold.ca and the
Company’s SEDAR profile at www.sedar.com.
Contact
To contact the Company, please visit the Company’s website,
www.newfoundgold.ca and make your request through our investor
inquiry form. Our management has a pledge to respond to investor
inquiries within 24 hours.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements”
within the meaning of Canadian securities legislation relating to
the merits of the Company’s Queensway gold project in Newfoundland
and Labrador; the favourable jurisdiction and logistics of the
Queensway project; exploration and drilling on the Queensway
project; the Company’s plans and expectations related to the
Queensway project; and funding of the drilling program. Although
the Company believes that such statements are reasonable, it can
give no assurance that such expectations will prove to be correct.
Forward-looking statements are statements that are not historical
facts; they are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “interpreted”,
“intends”, “estimates”, “projects”, “aims”, “suggests”, “indicate”,
“often”, “target”, “future”, “likely”, “pending”, “potential”,
“goal”, “objective”, “prospective”, “possibly”, “preliminary”, and
similar expressions, or that events or conditions “will”, “would”,
“may”, “can”, “could” or “should” occur, or are those statements,
which, by their nature, refer to future events. The Company
cautions that forward-looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the
statements are made, and they involve a number of risks and
uncertainties. Consequently, there can be no assurances that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Except to the extent required by applicable securities
laws and the policies of the TSX Venture Exchange, the Company
undertakes no obligation to update these forward-looking statements
if management's beliefs, estimates or opinions, or other factors,
should change. Factors that could cause future results to differ
materially from those anticipated in these forward-looking
statements include risks associated with possible accidents and
other risks associated with mineral exploration operations, the
risk that the Company will encounter unanticipated geological
factors, risks associated with the interpretation of assay results
and the drilling program, the possibility that the Company may not
be able to secure permitting and other governmental clearances
necessary to carry out the Company's exploration plans, the risk
that the Company will not be able to raise sufficient funds to
carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere
with the Company's business and prospects. The reader is urged to
refer to the Company's Annual Information Form and Management’s
discussion and Analysis, publicly available through the Canadian
Securities Administrators' System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com for a more complete
discussion of such risk factors and their potential effects.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230505005094/en/
New Found Gold Corp. Per: “Collin Kettell” Collin Kettell, Chief
Executive Officer Email: ckettell@newfoundgold.ca Phone: +1 (845)
535-1486
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