Exploits Discovery sells claims to New Found Gold, Newfoundland
Exploits Discovery Corp. [CSE: NFLD; OTCQB: NFLDF; FSE: 634] reported that it has closed the sale of a 100% interest in substantially all of its mineral claims in central Newfoundland to New Found Gold Corp. [TSXV: NFG; NYSE: NFGC]. The sale was originally announced on September 8, 2025.
“We have transformed our Newfoundland land position into a strategic stake in New Found Gold that, based on recent share prices, represents roughly $11 million of value for our shareholders while maintaining meaningful long-term upside through both equity and a royalty,” said Jeff Swinoga, President and CEO. “At the same time, we have also repositioned Exploits as a gold growth company anchored by approximately 680,000 ounces of historical gold resources in Québec and Ontario.”
Swinoga added, “With a focused portfolio, a strong technical team, and a clear plan to grow those historical ounces, we believe Exploits offers excellent leverage to exploration success. We anticipate a steady cadence of news flow as we advance these projects.”
As consideration for the claims, Exploits received 2,821,556 common shares of NFG which had a closing price of $4.18 per NFG share on December 4, 2025, representing total consideration of approximately $11.8 million on that date; and was granted a 1.0% net smelter returns royalty on certain of the mineral claims (NSR Royalty) under a royalty agreement between the company and NFG.
In addition, as contingent consideration, within 10 business days following a positive final determination by the Supreme Court of Newfoundland and Labrador with respect to certain disputed mineral claims, Exploits would receive an additional 725,543 NFG Shares. Based on the same NFG closing price of $4.18 per share on December 4, 2025, this would represent additional consideration of approximately $3.0 million.
For three years from the date of the Royalty Agreement, NFG retains the right and option to purchase 0.5% of the NSR Royalty for a cash payment of C$750,000. The NFG Shares are subject to a four-month statutory hold period expiring April 6, 2026.
Benefits to Exploits Shareholders: Equity and NSR exposure to NFG, an emerging Canadian gold producer and development company with projects in Newfoundland and Labrador, Canada.
With a treasury of approximately $13 million in pro forma cash and NFG shares, Exploits transitions to a focused Québec-Ontario gold growth story starting with approximately 680,000 ounces of historical resources with high-priority, drill ready targets and a clear path to expanding these resources.
Exploits will also retain its mineral claims at Mount Peyton (037950M) and True Grit (022031) in Newfoundland.
Exploits is now focused entirely on advancing its four cornerstone gold projects in Québec and Ontario: Fenton, Wilson, Benoist, and Hawkins. Together, the properties host approximately 680,000 ounces of historical gold resource estimates, and significant expansion potential that includes multiple walk-up drill targets.
Exploits Discovery’s portfolio includes three advanced-stage gold projects in Québec – Fenton, Wilson, and Benoist – alongside the Hawkins Gold Project in Ontario.