New Found Gold Corp V.NFG

NFG Shallow Core Contained Gold...11 million ounces

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4 shallow zones being trenched for early production by open pit 

Approximately 95 % of the meters drilled for these zones   were assayed 

Removing blank assays less than 1 gram per ton, gold content for assays above 1 gram ranged from 1.53 % of total meters drilled and assayed to 7.9 % of total meters drilled and assayed...this is the gold concentration ratio ( GCR ) within the total meters drilled .

Drill defined Ore volumes ( DDV ) = L X W XD X 2.84 

Gold Ounces = DDV  X GCR X Grade / 31 ) .

These are very high drill / assay sampling rates for grades and GCR which can be accepted with confidence

Drill defined ore volumes less so , but those keep increasing as exploration and drilling proceeds

Taken together, about 11 million ounces of gold above 1 gram per ton have been drill defined in these 4 shallow zones amenable to openpit mining .

Placed in perspective , sufficient to suppprt 300,000 ounces of open pit  high grade gold for more than 30 years 

PROSPECT	Core Samples ( meters )	Length (m)	Width (m)	Vertical( m)	Sampled Ore Volume ( m tons )	Per cent > 1 gram	Average grade gms/ton	Contained Gold Ounces (m )
Golden  Joint	27078	185	(290)	385	57	1.53	19.7	0.57
Iceberg+ Ice East	52978	655	(290)	270	147	2.99	17.2	2.40
K2	27670	490	395	250	137	6.3	4.7	1.3
Keats M = K South	116968	1100	(290)	400	360	3.4	12.7	5.0
Keats North	24146	630	150	250	67	2.5	6.2	0.35
Keats West	29882	305	315	130	35	7.9	5.8	0.50
Lotto + Lotto N	41117	630	(280)	180	90	2.3	11.0	0.75
	319839					3.85	11.0	10.9