New Found Gold signs MOU with Maritime Resources for use of Pine Cove Mill

New Found Gold (NFGC) has entered into a non-binding memorandum of understanding with Maritime Resources (MRTMF) pursuant to which the company has been granted the right to conduct due diligence and exclusivity to negotiate with Maritime regarding a toll milling agreement at the existing Pine Cove Mill located at the Point Rousse project near Baie Verte, Newfoundland and Labrador. The project’s attributes include: high-grade gold mineralization at many of the Queensway project’s zones starts in the bedrock just 3-6m below surface including at Keats, Iceberg and Keats West; mineralization at Keats, Iceberg and Keats West is easily accessible and located less than one kilometre from the Trans-Canada Highway: renewable hydroelectric sourced high-tension powerlines run directly across the project adjacent to the Keats, Iceberg and Keats West zones. The Pine Cove Mill is a fully permitted gold processing facility that was operating as recently as Q1 of this year and is rated at 1,400 tons per day located on the Baie Verte peninsula, approximately 270km from the Queensway project by paved highway.