Meet the Team: Paul Huet - Chairman of New Found Gold

In mining, the difference between success and failure often comes down to one factor: the people. Management can make or break any project, regardless of the underlying geology. For investors, evaluating management isn't just part of due diligence - it's the foundation of it. This profile examines Paul Huet's background and role at New Found Gold through the lens of why leadership capabilities determine mining investment outcomes.

Professional Track Record & Experience

Paul Huet brings 37 years of mining industry experience to his role as Chairman of New Found Gold, with a career that began in the late 1980s when a hockey career pivot led him to discover his calling underground. His extensive background spans narrow vein deposits across multiple continents including Canada, the United States, South Africa, Mexico, and Australia.

Throughout his career, Huet has demonstrated expertise in building and operating underground mining operations, with particular success in phased development approaches that minimize shareholder dilution while maximizing operational efficiency. His track record includes leadership roles at notable companies such as Klondex and Karora, where he successfully implemented staged mine development strategies.

The opportunity to join New Found Gold represented a compelling convergence of factors that aligned with Huet's expertise: a high-grade Canadian asset backed by prominent investors including Eric Sprott, located in one of the world's premier mining jurisdictions.

Approach to Strategic Development

Huet's philosophy centers on disciplined capitalallocation and phased development strategies that protect shareholder valuewhile building sustainable operations. "I love the phased approach,"Huet explains, describing how this methodology allows companies to avoidexcessive dilution while proving operational capabilities incrementally.

At New Found Gold, this approach translates into astrategic framework that begins with smaller-scale production to generate earlycash flow, then reinvests that revenue into expanded operations. The recentlyreleased Preliminary Economic Assessment (PEA) supports this strategy,projecting initial production of approximately 69,000-70,000 ounces annually.

His focus emphasizes transforming exploration companiesinto operational producers through systematic execution rather than continuedequity financing cycles. "This allows us to get into mining and pivot fromthat exploration setting," Huet notes, describing the critical transitionfrom development to production.

Leadership Framework & Board Governance

As Chairman, Huet distinguishes his role from executive management, focusing on shareholder representation, strategic oversight, and CEO support. His approach to board governance emphasizes building strong leadership teams and ensuring strategic alignment across the organization.

The appointment of CEO Keith Boyle exemplifies this leadership philosophy.

"I can't tell you how pleased I personally am... Our shareholders are very pleased with Keith Boyle. He's done an outstanding job," Huet observes, highlighting the importance of executive team quality in successful mine development.

His governance approach balances strategic guidance with operational autonomy, ensuring management has the support needed for execution while maintaining board-level oversight of capital allocation decisions. This structure allows for focused decision-making while preserving accountability to shareholders.

Asset Quality & Jurisdictional Advantages

Huet's evaluation of the Queensway project reflects his experience across global mining jurisdictions. The asset's location in Newfoundland provides significant infrastructure advantages that directly impact project economics and operational feasibility.

The proximity to Gander and existing infrastructure creates competitive advantages that many mining projects lack. "You can't underestimate the value of that town of Gander and the power and the roads, the Trans-Canada Highway," Huet explains, noting access to airports, power systems, and transportation networks.

This infrastructure foundation supports the project's economic viability while minimizing typical remote mining challenges. The combination of high-grade mineralization with accessible infrastructure creates what Huet describes as an exceptional development opportunity in a premier jurisdiction.

Current Results & Company Transformation

Under Huet's chairmanship, New Found Gold has implemented significant organizational changes designed to transition from exploration to development. The company has strengthened its board composition and executive team while advancing technical work toward production decisions.

The PEA represents a critical milestone in this transformation, providing the technical and economic framework for moving toward construction and operations. The study's positive results support the phased development strategy while demonstrating the project's ability to self-fund expansion through initial production cash flows.

Recent site visits with major shareholders, including Eric Sprott, have reinforced confidence in the project's development potential and management team's execution capabilities. These engagements demonstrate the alignment between leadership, shareholders, and strategic objectives.

Role in New Found Gold's Evolution

Huet's responsibilities encompass strategic planning, board governance, and shareholder representation while supporting management's operational execution. His experience in phased mine development directly applies to New Found Gold's current transition from exploration to production.

The scope of opportunity extends well beyond initial development plans. "We don't even understand it near as much as the drill bit's going to explain it to us," Huet observes, referencing exploration potential across the broader property package where current plans represent only 5% of total ground holdings.

His dual focus on near-term production and long-term expansion reflects the systematic approach that has characterized his career - building sustainable operations that can evolve and expand over time while maintaining financial discipline.

Looking Forward

Huet's vision for New Found Gold extends far beyondinitial production, emphasizing the potential for decades-long operations thatwill transform the local district.

The combination of high-grade mineralization, favorablejurisdiction, strong infrastructure, and experienced leadership creates whatHuet views as exceptional development potential. His commitment reflectsconfidence in both the asset quality and the team's ability to execute on theopportunity.

As he approaches this stage of his career, Huet's focuson legacy building aligns with New Found Gold's potential to become asignificant regional producer. "I didn't join here at my age here at 55 tocome in here for a couple of years," he explains, emphasizing hislong-term commitment to the project's success.

The strategic framework he has helped establishpositions New Found Gold to advance through development while maintaining thefinancial flexibility necessary for sustained growth. With proven leadership,exceptional assets, and systematic execution, the company appearswell-positioned to achieve Huet's vision of building a mine that will operatefor generations.

As he emphasizes:

"We've got a strong team, strong asset, some of the best grades you're going to find in the world. Just let us do what we do best."