New Found Gold Corp. has declared commercial production at its 100% owned Hammerdown Gold Mine in Central Newfoundland, Canada, after meeting sustained operational thresholds across a 60-day evaluation period ending August 19, 2026.

During the qualification window, the operation achieved an average throughput of approximately 748 tonnes per day, exceeding the 600 tonnes per day minimum requirement. Gold recovery averaged 87.7% against an 80% threshold, while feed grade averaged 2.92 grams of gold per tonne, surpassing the 80% mine plan head grade criterion. The site recorded zero lost time incidents across more than 262,049 person-hours worked during the ramp-up period.

New Found Gold acquired the asset through its purchase of Maritime Resources Corp. in November 2025. The company operates the mine under a hub-and-spoke model centered around the Pine Cove Mill, integrating the Hammerdown, Orion, and Stog'er Tight deposits. Following the commercial declaration, New Found Gold anticipates an annual production run rate of 20,000 to 25,000 ounces of gold at an all-in sustaining cost of approximately US$2,500 per ounce.

Construction of a new crusher and sorter at Hammerdown is progressing toward completion in the fourth quarter of 2026 to reduce crushing costs and deliver higher-grade material to the mill. Additionally, conversion of the Pine Cove circuit to a Gravity-CIL configuration has an anticipated completion date of the fourth quarter of 2027.

“Achieving commercial production at Hammerdown on schedule is a major milestone for New Found Gold and the next step toward becoming Canada's next mid-tier gold producer,” stated Keith Boyle, CEO of New Found Gold. “This achievement could only have been reached through the hard work and dedication of our operations team; to each and everyone of you I send my sincere gratitude. With commercial production underway at Hammerdown, we will continue to focus on delivering solid gold production, while advancing our flagship Queensway Gold Project to production.”

— Keith Boyle, CEO of New Found Gold

Read the full announcement: New Found Gold Declares Commercial Production at Hammerdown Gold Mine