New Found Gold Corp V.NFG

Keats Trench Estimated 450,000 ounces

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Explanatory Notes

1... Economic Gold Concentration Factor = FS  Total Tons milled  / FS total tons mined within open pit

2..Calculation for Numbers in Green given in Numbers in Yellow 

3..Gold Concentration Used for KT = 11% which is average of 3 FS estimates

4..Average Grade of KT is the average above 1 gram cutoff  for all meters drilled at QWN ( 2024 TR data ).

5.Dimensions of KT are those provided from KT NFG documentation ..SG = 2.8 tons / cu meter

Integrated as calculated, about 450,000 ounces of gold are estimated to be contained in KT above 140 m of vertical depth

KT channel sampling may provide average grades specific to KT.

But, as calculated, it appears that KT mined as an open pit, and shipped to Pine Cove Mill would enable 4 years production @ 100,000 ounces per year or about 3 years @ 150,000 ounces per year , yielding about $1.3 Billion in Gross revenues and over $650 million in free cash flow profits.

This would enable NFG to mostly cover the costs of a new mine and mill, with Iceberg Trench and or Hammerdown Mine @ 100,000 oz per year for 4 years providing the remainder  along with funds for continued development  of QWN.

These economic outcomes contain their own logical merit.

AIMHO
GLTA

	GoldBoro	Valentine Lake	Lynn Lake	Keats-Trench	KT Calc
Ore Mined ( mt )	139 m tons	605 m tons	372 m tons	12 m tons	200**150**140**2.8
Ore milled	15.8 m tons	52 m tons	48 m tons	1.3 m tons	12m ** 11%
Gold Concentration	11.4%	8.6 %%	12.9%	11.0%	11.4+8.6 +12.9 /3
Grade	2.80 gms ton	1.90 gms ton	1.60 gms ton	11.0 grams / ton	2024 TR
Keats Trench Resources				450,000 oz	1.3m **11.0 /31