New Found Gold Corp. announced the grand opening of its new 25,000sq ft core shack and office facility in Gander, Newfoundland and Labrador, designed and constructed to support logging and processing of drill core from the ongoing 500,000m drill campaign at its Queensway Project. The 100%-owned Queensway Project comprises an approximately 1,650km2 area with the current area of drilling focused along the Appleton Fault Zone accessible via the Trans-Canada Highway, 15km west of Gander.

On January 27, 2023, New Found hosted a grand opening ceremony for this new facility and it is now operational and receiving core from the Queensway drilling. The Giga-Shack is a modern core processing facility with 15,000sq ft of floor area dedicated to drill core logging, core cutting, and sample preparation. It also includes 10,000sq ft of office space including 23 new offices and several common area workspaces.

The facility was constructed on the same land parcel as the Company's existing 7,500sq ft core facility in Gander and has been designed to support the wide range of exploration and anticipated future development activities at the Queensway Project. This new facility was constructed over a ten-month period and was completed within budget with zero lost time injuries by an all-Newfoundland-based consortium of contractors.