New Found Appoints Raymond Threlkeld, Prior Chairperson of Newmarket Gold and Director of Kirkland Lake Gold, as Independent Director
11 Octobre 2022 - 12:30PM
Business Wire
New Found Gold Corp. (“New Found” or the
“Company”) (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce
that Raymond Threlkeld has joined as an independent member of the
Company's board of directors.
Highlights:
- Mr. Threlkeld is a geologist with over 40 years of extensive
technical expertise managing teams through exploration, reserve
estimates, feasibility studies, and construction, leading several
operations through to production including Cowal Gold Mine –
Australia, Veledaro – Argentina, Lagunas Norte & Pierina –
Peru, and Bulyanhulu – Tanzania. The Pierina Mine produced over 8
million ounces of gold in a 20-year period and launched Barrick
Gold to the top of the South American mining industry.
- In senior executive positions with Barrick Gold, Western
Goldfields, Newmarket Gold, Inc., and Rainy River Resources, among
others, Mr. Threlkeld has been involved in the acquisition of more
than $1-billion in assets, managed an estimated $1.4-billion in
construction spending, and created billions in shareholder
value.
- As Chairman of Newmarket Gold, Inc., the team sold the company
for more than $1-billion in 2016. The sale of Newmarket Gold
created over $4-billion in value for Newmarket shareholders from an
initial acquisition cost of $25-million.
- Mr. Threlkeld was inducted into the U.S. National Mining Hall
of Fame in 2020.
Collin Kettell, CEO of New Found stated, “I am thrilled to
welcome Raymond Threlkeld as an independent director of the
Company. Raymond is a seasoned mining professional with over 40
years of technical and executive experience in mineral exploration,
project development, and mine construction and operation. Raymond
also brings extensive board experience including serving as a
director of Calibre Mining and Kirkland Lake Gold. I am excited for
the contributions and insights Raymond will bring to our
Company.”
Raymond Threlkeld, Director of New Found stated, “New Found Gold
presents an extremely exciting exploration and development
opportunity. The Queensway Project is as close to a Fosterville
analog as I have seen and has excellent exploration potential as it
is open in all directions along a strike length of 100km and only
explored to very shallow depths. The multiple high-grade free-gold
zones at Queensway certainly have the potential to extend far
beyond the current exploration efforts. Exploration will continue
at Queensway to identify shallow high-grade gold and determine a
base for long term mine development. I look forward to working with
Collin, the Board and the entire New Found team in advancing this
exciting new high-grade gold discovery.”
At-The-Market Quarterly Update
In addition, the Company is pleased to announce a quarterly
update with respect to the Company’s at-the-market equity offering
program (the “ATM”) implemented on August 26, 2022 pursuant to an
equity distribution agreement (the “Equity Distribution Agreement”)
with BMO Nesbitt Burns Inc., Paradigm Capital Inc. (together, the
“Canadian Agents”) and BMO Capital Markets Corp. (the “U.S. Agent”
and, together with the Canadian Agents, the “Agents”).
From the commencement of the ATM to September 30, 2022, the
Company issued an aggregate of 87,400 common shares in the capital
of the Company (the “ATM Shares”), through the facilities of the
TSX Venture Exchange (the “TSXV”), at an average price per ATM
Share of C$5.0389 for aggregate gross proceeds of C$440,400.14.
Pursuant to the Equity Distribution Agreement, a cash commission of
C$10,349.40 was paid to the Agents in connection with the issuance
of the ATM Shares, resulting in aggregate net proceeds of
C$430,050.74.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
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 numerous logging roads, high
voltage electric power lines run through the project area, and the
Company benefits from a highly skilled local workforce. The Company
is currently undertaking a 400,000m drill program at Queensway, now
approximately 69% complete. The Company is well funded for this
program with cash and marketable securities of approximately $62
million as of October 2022.
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 be in touch with any
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 and U.S. securities legislation
(including the Private Securities Litigation Reform Act of 1995),
including statements relating to the exploration and development
potential of the Queensway Project; the zones of high-grade gold
mineralization at the Queensway Project; the merits of the
Queensway Project; plans for future exploration; the ATM; the use
by the Company of the ATM; and the benefits of the ATM. 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," "intends,"
"estimates," "projects," "aims," "suggests," "potential," "goal,"
"objective," "prospective," "possibly," 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 TSXV or the
NYSE American, 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 the
Company’s ability to satisfy certain conditions under the Equity
Distribution Agreement; the Company’s ability to obtain all
necessary approvals in connection to the ATM; possible accidents
and other risks associated with mineral exploration operations; the
risk that the Company will encounter unanticipated geological
factors; the risks associated with the interpretation of assay
results and the drilling program; the volatility of capital
markets; uncertainty regarding the availability of additional
capital; and fluctuations in commodity prices. 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 or through the SEC’s
Electronic Data Gathering and Retrieval System (EDGAR) at
www.sec.gov for a more complete discussion of such risk factors and
their potential effects.
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version on businesswire.com: https://www.businesswire.com/news/home/20221011005507/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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