New Found Gold (NFG.V): Announces Sale of Mineral Claims to Exploits Discovery Corp. and Provides Queensway North Drilling Update
VANCOUVER, BC, Dec. 11, 2020 /PRNewswire/ – New Found Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (OTC: NFGFF) is pleased to announce that it has entered into a purchase and sale agreement (the “Agreement“) with Exploits Discovery Corp. (“Exploits“) (CSE: NFLD) providing for the sale by New Found to Exploits of a 100% interest in two mineral claims (the “Mineral Claims“) representing approximately 12.0 km² of land (the “Transaction“). The primary claim is Jonathan’s Pond (11.25 km2, shown in Figure 1 below), and the second is a 75 Ha claim on Glover Island 210 km to the west of the Queensway project. As consideration for the purchase of the Mineral Claims, Exploits will issue to New Found 6,562,799 common shares in the capital of Exploits (the “Consideration Shares“) and New Found will also retain a 2% net smelter returns royalty on production from the Mineral Claims.
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