– ANNOUNCES RESULTS OF MEETING OF SHAREHOLDERS
–
VANCOUVER, BC, Dec. 18,
2024 /CNW/ - New Found Gold Corp. ("New
Found" or the "Company") (TSXV: NFG) (NYSE-A: NFGC) is
pleased to welcome Paul Huet,
William Hayden, and Melissa Render to its board of directors (the
"Board"). Following the Annual General Meeting of the
shareholders of New Found held in Vancouver, BC, on December 17, 2024 (the "Meeting"), as part
of a planned transition, Paul Huet
was appointed Chair of the Board, and Melissa Render as President of the Company. The
Board now comprises Paul Huet,
Collin Kettell, Vijay Mehta, William
Hayden, and Melissa
Render.
Collin Kettell, Chief Executive
Officer of New Found, stated: "On behalf of the Board of
Directors and management, I would like to welcome Paul Huet as Independent Chairman of the
Board. Paul has a proven track record as a mining executive,
having successfully delivered considerable shareholder value in his
previous roles at both Karora and Klondex, which were acquired for
$1.3-billion and $700-million, respectively. Paul brings a wealth
of knowledge and experience to New Found at a critical time as the
Company continues to advance and unlock the value of the Queensway
Project. I look forward to working closely with Paul moving
forward. I would also like to welcome Bill
Hayden and Melissa Render to
the Board and, at the same time, extend a thank you to Ray Threlkeld, Doug
Hurst, and in particular, Denis
Laviolette for his many contributions as co-founder of New
Found and his integral role in the Queensway
discovery."
Paul Huet, Independent Chairman
of New Found, stated: "I'm thrilled to join New Found at
such a pivotal moment. Having led teams that transformed
exploration companies into billion-dollar producers, I recognize
the immense potential here. New Found's vision, strategic approach,
and the strength of the Queensway discovery make this an exciting
challenge, and I'm eager to help take the project to new
heights."
Eric Sprott, shareholder of New
Found, stated: "Having followed Paul's career closely, I
know his passion, operational expertise, and strategic vision are
second to none. His leadership has consistently delivered
outstanding results, and I am excited to see him bring that same
level of commitment and success to New Found."
New Directors
Paul Huet, Independent
Chairman
Paul Huet is CEO of Americas Gold
and Silver. He was previously Chairman and CEO of Karora Resources
Inc. from 2019 to 2024 until its acquisition by Westgold Resources
Limited for $1.3-billion. Prior to
that, he was President, Chief Executive Officer and Director of
Klondex Mines from 2012 to 2018, until its acquisition by Hecla
Mining Company for $700-million. Mr.
Huet has a strong command of capital markets and has served in all
levels of engineering and operations of Mining. Mr. Huet graduated
with Honors from the Mining Engineering Technology program at
Haileybury School of Mines in Ontario, and successfully completed the
Stanford Executive program at the
Stanford School of Business. In 2013, Mr. Huet was nominated for
the Premier's Award in Ontario for
outstanding College graduates; he is currently a member of OACETT
as an applied Science Technologist and an Accredited Director.
William Hayden
William Hayden has served as a
Director of Ivanhoe Mines since March
2007. He is a geologist with more than 38 years of
experience in the mineral exploration industry, much of it gained
in Africa and the Asia-Pacific region. His involvement with the
current Ivanhoe Mines began in 1998; he served as first President
of the corporate predecessor, African Minerals, from May 1998 to November
2001 – and as a Director from 1998 to 2002. (African
Minerals, which evolved to Ivanplats, subsequently assumed the
Ivanhoe Mines name in 2013.) Mr. Hayden has worked in a management
capacity with several exploration and mining companies in
Australia and internationally
since 1986. He was President and a director of Ivanhoe Philippines
from July 2005 to December 2011, when it was a subsidiary of the
original Ivanhoe Mines (renamed Turquoise Hill Resources in 2012).
He holds a Bachelor of Science (Hons), Geology, from Sierra Nevada College, Nevada, USA.
Melissa Render
Melissa Render has served as VP
of Exploration for New Found Gold since 2021. She is an exploration
geologist with 10+ years of experience focused on orogenic gold.
Melissa managed exploration projects worldwide from grassroots to
advanced stages in greenstone belts, including the Abitibi, Eastern
Goldfields, Hope Bay, Central
Lapland and Banfora for Kinross
Gold, AngloGold Ashanti, and TMAC Resources. She spent 3
years as a consultant specializing in target generation, 3D
modelling, data management, and exploration program design.
Annual General Meeting
In addition, resolutions regarding the following matters were
passed at the Meeting:
- fixing the number of directors at five;
- appointing KPMG LLP, Chartered Professional Accountants, as
auditor of the Company at a remuneration to be fixed by the Board;
and
- approving the 10% "rolling" stock option plan of the
Company.
The Meeting did not consider any matters that were not presented
in the management information circular dated October 18, 2024, that was issued in connection
with the Meeting.
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 650,000m drill program at Queensway and is well
funded for this program with cash and marketable securities of
approximately $28 million as of
December 2024.
Please see the Company's website at www.newfoundgold.ca and the
Company's SEDAR+ profile at www.sedarplus.ca.
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 be in touch with any
investor inquiries within 24 hours.
New Found Gold Corp.
Per: "Collin Kettell"
Collin Kettell, Chief Executive
Officer
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 and potential of the Queensway Project; exploration,
drilling and mineralization on the Queensway Project;
mineralization and the discovery of zones of high-grade gold
mineralization; plans for future exploration and drilling; 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
exploration, drilling and assay results, 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.sedarplus.ca for a more complete
discussion of such risk factors and their potential effects.
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SOURCE New Found Gold Corp.
