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• Exploits announced the results from its Phase 1 exploration program which focused on validation of historic work and different surface works.
• The program was successful in deriving several high priority targets for the upcoming 3,000-5,000m diamond drill program, commencing in January 2026.
• On December 5th, NFLD announced the closing of the sale of its Newfoundland claims. The Company has received 2.8M shares of NFG, currently worth $10.7M, plus potential for more.
• We recently initiated on NFLD; view the full initiation report here.
This morning, Exploits Discovery Corp. (NFLD:CSE, NFLDF:OTC) announced results from its Phase 1 exploration program and plans for its initial diamond drill program at its fully permitted Fenton gold project in Quebec. The Phase 1 program successfully confirmed high-grade gold at surface and resampled historic core which has helped identify multiple drill-ready targets. The Fenton project hosts a historical mineral resource of 64Koz with substantial drilling and other exploratory work performed since then. The Company is planning a 3,000-5,000m drill program which is expected to being in mid-January (more detail on page 2).
We remind readers that since liquidating its Newfoundland assets, Exploits has shifted its focus exclusively to its Ontario and Quebec assets, which together host 680Koz of historical gold resources with substantial expansion potential. The Company is well-funded to advance exploration across these projects. We are maintaining our BUY rating and increasing our target price to $0.15/share (previously $0.10/share) on Exploits Discovery Corp.
Transaction Closing
On December 5th, NFLD announced the closing of the sale of its central Newfoundland claims to Newfound Gold. NFLD received 2.8M shares of NFG, which was worth $10.7M as of today, a major increase over the $7M from the initial announcement, as NFG stock has risen. NFLD also retained a 1% NSR on certain mineral claims. Furthermore, 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 shares ($2.8M). Management estimated treasury of ~$13M of PF cash and NFG shares, which is larger than the market cap of the Company ($11.0M).
NFLD: Work at Fenton Starts to Roll In; Drilling in Q1/26
What you need to know:• Exploits announced the results from its Phase 1 exploration program which focused on validation of historic work and different surface works.
• The program was successful in deriving several high priority targets for the upcoming 3,000-5,000m diamond drill program, commencing in January 2026.
• On December 5th, NFLD announced the closing of the sale of its Newfoundland claims. The Company has received 2.8M shares of NFG, currently worth $10.7M, plus potential for more.
• We recently initiated on NFLD; view the full initiation report here.
This morning, Exploits Discovery Corp. (NFLD:CSE, NFLDF:OTC) announced results from its Phase 1 exploration program and plans for its initial diamond drill program at its fully permitted Fenton gold project in Quebec. The Phase 1 program successfully confirmed high-grade gold at surface and resampled historic core which has helped identify multiple drill-ready targets. The Fenton project hosts a historical mineral resource of 64Koz with substantial drilling and other exploratory work performed since then. The Company is planning a 3,000-5,000m drill program which is expected to being in mid-January (more detail on page 2).
We remind readers that since liquidating its Newfoundland assets, Exploits has shifted its focus exclusively to its Ontario and Quebec assets, which together host 680Koz of historical gold resources with substantial expansion potential. The Company is well-funded to advance exploration across these projects. We are maintaining our BUY rating and increasing our target price to $0.15/share (previously $0.10/share) on Exploits Discovery Corp.
Transaction Closing
On December 5th, NFLD announced the closing of the sale of its central Newfoundland claims to Newfound Gold. NFLD received 2.8M shares of NFG, which was worth $10.7M as of today, a major increase over the $7M from the initial announcement, as NFG stock has risen. NFLD also retained a 1% NSR on certain mineral claims. Furthermore, 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 shares ($2.8M). Management estimated treasury of ~$13M of PF cash and NFG shares, which is larger than the market cap of the Company ($11.0M).
Underlying
Exploits Discovery Corp.
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
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