05:24 PM EDT, 08/20/2025 (MT Newswires) -- New Found Gold ( NFGC ) was at last look up 0.7% in after-hours New York trade Wednesday after saying due to a reduction in the Fire Weather Index covering an area of the company's Queensway Gold Project in Newfoundland , exploration activities involving the use of heavy equipment in or near forested areas, including, drilling, mulching and excavating, have restarted there.

These activities had previously been suspended as a precaution against regional forest-fire risks.

"The Fire Weather Index across Newfoundland has been reduced to acceptable levels. With weather conditions favourable and the Fire Weather Index within operational limits, exploration activities will resume immediately. The company will continue to monitor the situation and implement additional measures to mitigate forest fire risks," Keith Boyle, Chief Executive Officer, said.

Meanwhile, at its Annual General and Special Meeting held in Vancouver, B.C., today, shareholders voted in favor of an ordinary resolution to approve the appointment of Eric Sprott as a new 'Control Person', which involves a person, or combination of persons, holding more than 20% of the company's shares. It is anticipated that Sprott will become a new 'Control Person' upon closing of the previously announced non-brokered private placement of up to 12.27-million shares at a price of C$1.63 per share for gross proceeds of near C$20 million.

The company's shares were last seen up US$0.01 to US$$1.55 after hours. They closed up $$0.07 to $2.15 on the Toronto Stock Exchange