Nouveau Monde Graphite Inc. press release

New Found Gold Confirms At-Surface High-Grade Core in Iceberg Excavation Channel Sampling Program

2025-09-25

TSX - Toronto Stock Exchange · Graphite · Canada · Drill Results

Canada NewsWire

VANCOUVER, BC , Sept. 25, 2025 /CNW/ - New Found Gold Corp. (" New Found Gold " or the " Company ") (TSXV: NFG) (NYSE-A: NFGC) is pleased to announce the results of a channel sampling program at the Iceberg excavation (" Iceberg " or the " Excavation ") in the AFZ Core area on its 100%-owned Queensway Gold Project (" Queensway " or the " Project ") in Newfoundland and Labrador, Canada .

Highlights - Iceberg Channel Sampling Program 1 :

64.8 g/t Au 2 over 6.71 m 3 (IB-25-01-10) 23.9 g/t Au over 15.12 m (IB-25-01-16) 113 g/t Au over 2.99 m (IB-25-01-18) 47.4 g/t Au over 7.36 m (IB-25-01-40) 23.0 g/t Au over 13.74 m (IB-25-01-08) 117 g/t Au over 2.16 m (IB-25-01-07)

Melissa Render , President of New Found Gold stated: "Our recently completed channel sampling program has further demonstrated the continuity of at-surface, high-grade gold mineralization across 185 m of continuous exposure at Iceberg, one of the zones we have targeted for Phase I custom milling in the Queensway Preliminary Economic Assessment. The ability to map and channel sample this and other key zones at Queensway is an important step in derisking the Project. As in the drilling of Iceberg, channel sampling returned broad intervals of coarse, high-grade gold mineralization. We look forward to following up this work with detailed grade-control drilling to inform our geostatistical analysis and continuing our channel sampling program at the Lotto excavation."

Iceberg Channel Sampling Program Summary

A 220 m by 105 m area was excavated at Iceberg in late 2024, exposing broad zones of gold-bearing quartz veins over a strike length of 185 m directly below 2.5 to 9 m of overburden. The Iceberg channel sampling program, which was conducted through mid-2025, included 964 m of channel samples at 7.5 m intervals in 45 channel lines (" channels ") (Tables 1 to 3).

This work was designed to systematically sample across the exposed surface expression of the primary high-grade domain at Iceberg. Sampling at this resolution across the bedrock surface has provided a detailed analysis of the gold grade variability across the Excavation, with the data expected to be incorporated into future mineral resource estimates (' MRE ') at Queensway. The excavation, mapping and channel sampling of Iceberg will inform the geological and resource models with the objective of increasing confidence in resource areas that form a portion of the Phase 1 mine plan outlined in the Queensway Preliminary Economic Assessment (" PEA ") (see the New Found Gold news release dated July 21, 2025 ).

The Iceberg zone forms part of a larger gold system associated with the Keats Baseline Fault Zone (" KBFZ "), a prolific deformation corridor with an interpreted strike length of approximately 2 km and host to both the Keats and Iceberg zones.

Channel sample and mapping results correlate well with the established geological and resource model, while showing local variability characteristic of a coarse free gold quartz vein system.

The highlight sample intervals of 64.8 g/t Au over 6.71 m (IB-25-01-10), 23.9 g/t Au over 15.12 m (IB-25-01-16), 47.4 g/t Au over 7.36 m (IB-25-01-40),113 g/t Au over 2.99 m (IB-25-01-18), 23.0 g/t Au over 13.74 m (IB-25-01-08), 117 g/t Au over 2.16 m (IB-25-01-07) form part of a 185 m long continuous section of the Iceberg vein (Figures 1-5).

[](https://mma.prnewswire.com/media/2781258/New_Found_Gold_CorpNew_Found_Gold_Confirms_At_Surface_High_Gra.html)

[](https://mma.prnewswire.com/media/2781257/New_Found_Gold_CorpNew_Found_Gold_Confirms_At_Surface_High_Gra.html)

[](https://mma.prnewswire.com/media/2781256/New_Found_Gold_CorpNew_Found_Gold_Confirms_At_Surface_High_Gra.html)

Looking Ahead

New Found Gold commenced a 70,000 m drill program in May 2025 , with approximately 80% of the drilling focused on the AFZ Core area and the remaining 20% focused on exploration targets outside the MRE area.

In addition to ongoing drilling, the Company will continue with its excavation program in additional near-surface zones of the AFZ Core, with the objective of validating the geological model and collecting detailed analytical information across key zones that will be part of the Phase 1 mine plan as outlined in the PEA.

Excavation and mapping of the Lotto zone (' Lotto ") is now complete, and the detailed channel sampling program is expected to conclude shortly. The excavation has uncovered 210 m of strike along Lotto and results from this work will be released once they are available.

Following the completion of the channel sampling at Keats and Iceberg, a tightly spaced 5 m x 5 m definition drilling program is ongoing at Keats and expected to commence at Iceberg in the coming weeks.

An infill drill program covering the proposed PEA Phase 1 open pits, with the objective of converting resources from inferred to indicated, is ongoing and expected to be completed in Q4/25. Other ongoing work at Queensway includes geotechnical drilling of PEA Phase 1 pits, condemnation drilling for infrastructure and plant siting and continued exploration at AFZ Peripheral in the vicinity of the Dropkick zone. Hydrogeological drilling has commenced and is expected to conclude in Q4/25.

Table 1: Channel Result Highlights.

| Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone | | IB-25-01-07 | 0.94 | 3.10 | 2.16 | 116.63 | Iceberg | | Including | 1.78 | 2.50 | 0.72 | 346.99 | | | IB-25-01-08 | 5.34 | 19.08 | 13.74 | 23.04 | Iceberg | | Including | 7.94 | 8.66 | 0.72 | 13.39 | | | Including | 9.50 | 10.81 | 1.31 | 143.44 | | | Including | 11.74 | 13.42 | 1.68 | 49.92 | | | And | 34.55 | 50.00 | 15.45 | 2.17 | | | IB-25-01-10 | 6.11 | 12.82 | 6.71 | 64.83 | Iceberg | | Including | 6.57 | 11.96 | 5.39 | 80.22 | | | IB-25-01-11 | 5.14 | 14.69 | 9.55 | 8.82 | Iceberg | | Including | 6.29 | 6.54 | 0.25 | 240.39 | | | And | 38.41 | 40.60 | 2.19 | 51.70 | | | Including | 39.23 | 40.60 | 1.37 | 81.89 | | | IB-25-01-12 | 2.15 | 13.93 | 11.78 | 2.20 | Iceberg | | Including | 6.92 | 7.51 | 0.59 | 17.40 | | | IB-25-01-14 | 4.61 | 11.13 | 6.52 | 16.14 | Iceberg | | Including | 6.61 | 7.50 | 0.89 | 25.31 | | | Including | 9.29 | 10.34 | 1.05 | 65.88 | | | IB-25-01-15 | 1.65 | 22.95 | 21.30 | 3.69 | Iceberg | | Including | 6.42 | 7.66 | 1.24 | 40.83 | | | IB-25-01-16 | 6.03 | 21.15 | 15.12 | 23.85 | Iceberg | | Including | 7.49 | 9.21 | 1.72 | 151.61 | | | Including | 9.94 | 10.74 | 0.80 | 35.03 | | | Including | 17.74 | 18.26 | 0.52 | 10.77 | | | Including | 18.80 | 19.68 | 0.88 | 21.99 | | | Including | 20.58 | 21.15 | 0.57 | 16.46 | | | IB-25-01-17 | 6.32 | 13.43 | 7.11 | 28.08 | Iceberg | | Including | 6.70 | 8.12 | 1.42 | 49.52 | | | Including | 8.68 | 12.05 | 3.37 | 34.32 | | | IB-25-01-18 | 6.65 | 9.64 | 2.99 | 112.50 | Iceberg | | Including | 6.65 | 8.82 | 2.17 | 153.69 | | | IB-25-01-26 | 12.73 | 15.27 | 2.54 | 33.47 | | | Including | 13.60 | 14.46 | 0.86 | 86.14 | | | IB-25-01-27 | 11.03 | 15.80 | 4.77 | 16.80 | Iceberg | | Including | 12.55 | 14.84 | 2.29 | 33.01 | | | IB-25-01-38 | 1.98 | 5.97 | 3.99 | 11.41 | Iceberg | | Including | 2.53 | 3.65 | 1.12 | 31.34 | | | IB-25-01-40 | 1.81 | 9.17 | 7.36 | 47.35 | Iceberg | | Including | 2.78 | 3.67 | 0.89 | 11.89 | | | Including | 5.23 | 6.37 | 1.14 | 285.23 | |

| Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 70% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as channel thickness. Details of all 45 channel lines are included in Tables 2 and 3 below. |

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Table 2: Summary of composite channel sample results reported in this news release for Iceberg.

| Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Zone | | IB-25-01-01 | No Significant Values | Iceberg | | | | | IB-25-01-02 | No Significant Values | Iceberg | | | | | IB-25-01-03 | 10.93 | 13.22 | 2.29 | 4.48 | Iceberg | | Including | 10.93 | 11.78 | 0.85 | 11.83 | | | IB-25-01-04 | No Significant Values | Iceberg | | | | | IB-25-01-05 | 5.24 | 8.32 | 3.08 | 1.03 | Iceberg | | IB-25-01-06 | 1.90 | 4.27 | 2.37 | 1.90 | Iceberg | | IB-25-01-07 | 0.94 | 3.10 | 2.16 | 116.63 | Iceberg | | Including | 1.78 | 2.50 | 0.72 | 346.99 | | | And | 7.12 | 13.41 | 6.29 | 3.32 | | | Including | 12.79 | 13.41 | 0.62 | 11.70 | | | IB-25-01-08 | 5.34 | 19.08 | 13.74 | 23.04 | Iceberg | | Including | 7.94 | 8.66 | 0.72 | 13.39 | | | Including | 9.50 | 10.81 | 1.31 | 143.44 | | | Including | 11.74 | 13.42 | 1.68 | 49.92 | | | And | 34.55 | 50.00 | 15.45 | 2.17 | | | IB-25-01-09 | 7.46 | 15.66 | 8.20 | 2.51 | Iceberg | | Including | 7.46 | 7.89 | 0.43 | 13.29 | | | And | 35.89 | 40.15 | 4.26 | 3.30 | | | IB-25-01-10 | 6.11 | 12.82 | 6.71 | 64.83 | Iceberg | | Including | 6.57 | 11.96 | 5.39 | 80.22 | | | IB-25-01-11 | 5.14 | 14.69 | 9.55 | 8.82 | Iceberg | | Including | 6.29 | 6.54 | 0.25 | 240.39 | | | And | 38.41 | 40.60 | 2.19 | 51.70 | | | Including | 39.23 | 40.60 | 1.37 | 81.89 | | | IB-25-01-12 | 2.15 | 13.93 | 11.78 | 2.20 | Iceberg | | Including | 6.92 | 7.51 | 0.59 | 17.40 | | | And | 18.20 | 22.92 | 4.72 | 1.66 | | | IB-25-01-13 | 7.00 | 13.15 | 6.15 | 1.94 | Iceberg | | IB-25-01-14 | 4.61 | 11.13 | 6.52 | 16.14 | Iceberg | | Including | 6.61 | 7.50 | 0.89 | 25.31 | | | Including | 9.29 | 10.34 | 1.05 | 65.88 | | | And | 15.44 | 19.94 | 4.50 | 4.44 | | | Including | 15.90 | 16.30 | 0.40 | 24.49 | | | IB-25-01-15 | 1.65 | 22.95 | 21.30 | 3.69 | Iceberg | | Including | 6.42 | 7.66 | 1.24 | 40.83 | | | IB-25-01-16 | 6.03 | 21.15 | 15.12 | 23.85 | Iceberg | | Including | 7.49 | 9.21 | 1.72 | 151.61 | | | Including | 9.94 | 10.74 | 0.80 | 35.03 | | | Including | 17.74 | 18.26 | 0.52 | 10.77 | | | Including | 18.80 | 19.68 | 0.88 | 21.99 | | | Including | 20.58 | 21.15 | 0.57 | 16.46 | | | IB-25-01-17 | 6.32 | 13.43 | 7.11 | 28.08 | Iceberg | | Including | 6.7 | 8.12 | 1.42 | 49.52 | | | Including | 8.68 | 12.05 | 3.37 | 34.32 | | | And | 18.65 | 20.75 | 2.1 | 1.71 | | | IB-25-01-18 | 6.65 | 9.64 | 2.99 | 112.50 | Iceberg | | Including | 6.65 | 8.82 | 2.17 | 153.69 | | | IB-25-01-19 | 6.16 | 10.29 | 4.13 | 1.39 | Iceberg | | IB-25-01-20 | 5.51 | 9.26 | 3.75 | 2.65 | Iceberg | | IB-25-01-21 | 5.10 | 8.30 | 3.20 | 2.83 | Iceberg | | And | 10.94 | 13.41 | 2.47 | 1.09 | | | IB-25-01-22 | 3.42 | 11.10 | 7.68 | 1.13 | Iceberg | | IB-25-01-23 | 5.48 | 7.63 | 2.15 | 1.35 | Iceberg | | And | 12.34 | 14.47 | 2.13 | 1.24 | | | IB-25-01-24 | 0.00 | 5.40 | 5.40 | 1.79 | Iceberg | | And | 12.50 | 18.70 | 6.20 | 1.63 | | | IB-25-01-25 | 11.81 | 14.76 | 2.95 | 6.21 | Iceberg | | Including | 12.91 | 13.91 | 1.00 | 12.31 | | | IB-25-01-26 | 3.59 | 6.15 | 2.56 | 1.03 | Iceberg | | And | 12.73 | 15.27 | 2.54 | 33.47 | | | Including | 13.60 | 14.46 | 0.86 | 86.14 | | | IB-25-01-27 | 11.03 | 15.80 | 4.77 | 16.80 | Iceberg | | Including | 12.55 | 14.84 | 2.29 | 33.01 | | | IB-25-01-28 | No Significant Values | Iceberg | | | | | IB-25-01-29 | No Significant Values | Iceberg | | | | | IB-25-01-30 | No Significant Values | Iceberg | | | | | IB-25-01-31 | No Significant Values | Iceberg | | | | | IB-25-01-32 | No Significant Values | Iceberg | | | | | IB-25-01-33 | No Significant Values | Iceberg | | | | | IB-25-01-34 | 0.31 | 5.86 | 5.55 | 3.70 | Iceberg | | Including | 5.18 | 5.86 | 0.68 | 22.34 | | | IB-25-01-35 | 19.72 | 24.22 | 4.50 | 1.66 | Iceberg | | IB-25-01-36 | No Significant Values | Iceberg | | | | | IB-25-01-37 | No Significant Values | Iceberg | | | | | IB-25-01-38 | 1.98 | 5.97 | 3.99 | 11.41 | Iceberg | | Including | 2.53 | 3.65 | 1.12 | 31.34 | | | IB-25-01-39 | 0.00 | 8.98 | 8.98 | 2.78 | Iceberg | | IB-25-01-40 | 1.81 | 9.17 | 7.36 | 47.35 | Iceberg | | Including | 2.78 | 3.67 | 0.89 | 11.89 | | | Including | 5.23 | 6.37 | 1.14 | 285.23 | | | IB-25-01-41 | 0.00 | 6.85 | 6.85 | 6.25 | Iceberg | | Including | 4.91 | 5.37 | 0.46 | 12.40 | | | Including | 6.20 | 6.85 | 0.65 | 46.35 | | | IB-25-01-42 | 0.86 | 3.00 | 2.14 | 1.03 | Iceberg | | IB-25-01-43 | 0.00 | 3.35 | 3.35 | 1.86 | Iceberg | | IB-25-01-44 | No Significant Values | Iceberg | | | | | IB-25-01-45 | No Significant Values | Iceberg | | | |

| Note that the host structures are interpreted to be moderately to steeply dipping and true widths are generally estimated to be 70% to 90% of reported intervals. Infill veining in secondary structures with multiple orientations crosscutting the primary host structures are commonly observed in drill core which could result in additional uncertainty in true width. Composite intervals reported carry a minimum weighted average of 1 g/t Au diluted over a minimum core length of 2 m with a maximum of 4 m consecutive dilution. Included high-grade intercepts are reported as any consecutive interval with grades greater than 10 g/t Au. Grades have not been capped in the averaging and intervals are reported as channel thickness. |

_Table 3: __Details of channel lines reported in this news release. _

| Hole No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Zone | | IB-25-01-01 | 119 | 2 | 6.50 | 658334 | 5427756 | Iceberg | | IB-25-01-02 | 120 | 1 | 15.81 | 658336 | 5427764 | Iceberg | | IB-25-01-03 | 120 | 2 | 13.93 | 658338 | 5427771 | Iceberg | | IB-25-01-04 | 120 | 6 | 12.94 | 658343 | 5427777 | Iceberg | | IB-25-01-05 | 120 | 14 | 13.63 | 658347 | 5427783 | Iceberg | | IB-25-01-06 | 120 | 10 | 15.61 | 658352 | 5427789 | Iceberg | | IB-25-01-07 | 120 | 9 | 13.98 | 658357 | 5427795 | Iceberg | | IB-25-01-08 | 120 | 9 | 50.00 | 658358 | 5427803 | Iceberg | | IB-25-01-09 | 120 | 9 | 49.96 | 658362 | 5427809 | Iceberg | | IB-25-01-10 | 120 | 7 | 46.94 | 658368 | 5427814 | Iceberg | | IB-25-01-11 | 120 | 6 | 43.64 | 658375 | 5427819 | Iceberg | | IB-25-01-12 | 120 | 6 | 39.74 | 658381 | 5427824 | Iceberg | | IB-25-01-13 | 120 | 5 | 35.54 | 658388 | 5427829 | Iceberg | | IB-25-01-14 | 120 | 5 | 35.80 | 658395 | 5427834 | Iceberg | | IB-25-01-15 | 120 | 5 | 34.79 | 658402 | 5427838 | Iceberg | | IB-25-01-16 | 120 | 6 | 33.77 | 658410 | 5427842 | Iceberg | | IB-25-01-17 | 120 | 6 | 31.61 | 658418 | 5427846 | Iceberg | | IB-25-01-18 | 120 | 8 | 27.02 | 658427 | 5427850 | Iceberg | | IB-25-01-19 | 120 | 10 | 23.35 | 658436 | 5427853 | Iceberg | | IB-25-01-20 | 120 | 7 | 22.64 | 658444 | 5427857 | Iceberg | | IB-25-01-21 | 120 | 4 | 22.34 | 658450 | 5427862 | Iceberg | | IB-25-01-22 | 120 | 3 | 22.01 | 658456 | 5427868 | Iceberg | | IB-25-01-23 | 120 | 3 | 21.31 | 658462 | 5427873 | Iceberg | | IB-25-01-24 | 120 | 0 | 22.68 | 658468 | 5427878 | Iceberg | | IB-25-01-25 | 120 | 7 | 28.89 | 658474 | 5427883 | Iceberg | | IB-25-01-26 | 120 | 8 | 25.95 | 658480 | 5427888 | Iceberg | | IB-25-01-27 | 120 | 5 | 22.77 | 658486 | 5427894 | Iceberg | | IB-25-01-28 | 120 | 21 | 8.12 | 658383 | 5427858 | Iceberg | | IB-25-01-29 | 120 | 13 | 12.55 | 658387 | 5427864 | Iceberg | | IB-25-01-30 | 120 | 14 | 12.45 | 658395 | 5427868 | Iceberg | | IB-25-01-31 | 120 | 13 | 12.04 | 658402 | 5427873 | Iceberg | | IB-25-01-32 | 120 | 10 | 11.69 | 658409 | 5427877 | Iceberg | | IB-25-01-33 | 120 | 8 | 19.35 | 658410 | 5427886 | Iceberg | | IB-25-01-34 | 120 | 5 | 24.26 | 658413 | 5427893 | Iceberg | | IB-25-01-35 | 120 | 6 | 26.46 | 658428 | 5427892 | Iceberg | | IB-25-01-36 | 120 | 4 | 13.81 | 658435 | 5427897 | Iceberg | | IB-25-01-37 | 120 | -2 | 14.61 | 658439 | 5427903 | Iceberg | | IB-25-01-38 | 120 | 6 | 6.71 | 658341 | 5427765 | Iceberg | | IB-25-01-39 | 120 | 3 | 22.05 | 658393 | 5427814 | Iceberg | | IB-25-01-40 | 120 | 5 | 15.67 | 658405 | 5427825 | Iceberg | | IB-25-01-41 | 120 | 6 | 8.15 | 658419 | 5427833 | Iceberg | | IB-25-01-42 | 120 | 11 | 8.40 | 658469 | 5427865 | Iceberg | | IB-25-01-43 | 119 | 10 | 5.03 | 658476 | 5427891 | Iceberg | | IB-25-01-44 | 120 | 22 | 6.92 | 658381 | 5427850 | Iceberg | | IB-25-01-45 | 119 | 5 | 2.89 | 658399 | 5427874 | Iceberg |

Sampling, Sub-sampling, and Laboratory

All channel samples are collected directly from the bedrock.

A geologist examines the bedrock and marks out the intervals to be sampled and the cutting line. Sample lengths are mostly 1.0 m and adjusted to respect lithological and/or mineralogical contacts and isolate narrow (< 1.0m ) veins or other structures that may yield higher grades.

Technicians saw the channel along the cut line, producing two lines 5 cm apart and approximately 6-8 cm deep. The sample is removed from the bedrock and placed into sample bags. Individual sample bags are sealed and placed into totes, which are then sealed and marked with the contents.

New Found Gold has submitted channel samples for gold determination photon assay or screened metallic at ALS in Thunder Bay, Ontario . ALS is an ISO-17025 accredited laboratory for the photon assay and screened metallic methods.

Samples submitted to ALS received gold analysis by photon assay whereby the entire sample is crushed to approximately 70% passing 2 mm mesh. The sample is then riffle split and transferred into jars. For "routine" samples that do not have VG identified and are not within a mineralized zone, one (300-500g) jar is analyzed by photon assay. If the jar assays are greater than 0.8 g/t Au, the remaining crushed material is weighed into multiple jars and submitted for photon assay.

For samples that have VG identified, the entire crushed sample is riffle split and weighed into multiple jars that are submitted for photon assay. The assays from all jars are combined on a weight-averaged basis.

For samples which returned values >350 g/t Au, the samples were submitted for screen metallic. All jars were analysed, with results combined as a weighted average. For the screened metallics assay, the entire coarse fraction (sized greater than 106 microns) is fire-assayed, and two splits of the fine fraction (sized less than 106 microns) are fire-assayed with a gravimetric finish.

Channel sample design, Quality Assurance/Quality Control, and interpretation of results are performed by qualified persons employing a rigorous Quality Assurance/Quality Control program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples in addition to the laboratory's internal quality assurance programs.

Quality Control data are evaluated on receipt from the laboratories for failures. Appropriate action is taken if assay results for standards and blanks fall outside allowed tolerances. All results stated have passed New Found Gold's quality control protocols.

New Found Gold's quality control program also includes submission of a duplicate channel for 2% of the channel sample intervals. In addition, approximately 1% of sample pulps for mineralized samples are submitted for re-analysis to a second ISO-accredited laboratory for check assays.

The Company does not recognize any factors sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed.

The assay data disclosed in this press release have been verified by the Company's Qualified Person against the original assay certificates.

Qualified Person

The scientific and technical information disclosed in this press release was reviewed and approved by Melissa Render , P. Geo., President, and a Qualified Person as defined under National Instrument 43-101. Ms. Render consents to the publication of this press release, by New Found Gold. Ms. Render certifies that this press release fairly and accurately represents the scientific and technical information that forms the basis for this press release.