With Newfoundland a beehive of gold exploration activity, investors are increasingly placing bets on who will make the next discovery there.

And one of the sector’s most astute investors, Eric Sprott, just made a big wager on Exploits Discovery Corp. (NFLD.CN, NFLDF.OTC), which is beginning to drill no fewer than five projects in this high-profile gold district.

Dear Fellow Investor,

Newfoundland is a red-hot gold district right now.

Precipitated by Marathon Gold outlining a major gold resource at Valentine Lake and New Found Gold making a high-grade gold discovery of its own at Keats, explorers have swarmed to the province in droves over the past few years.

All that activity has created a quandary for investors interested in capitalizing on this modern-day gold rush: Namely, which of these exploration companies is the best bet to make the next discovery.

Well, if you believe in following the smart money on these decisions, mining investor extraordinaire Eric Sprott just provided you with a big clue.

In just the past month, Sprott has agreed to invest C$8 million in private placement funding to support the exploration programs of Exploits Discovery Corp. (NFLD.CN; NFLDF.OTC).

Having quietly built up one of the biggest land positions in the region around New Found Gold’s Keats discovery, Exploits Discovery has gone on to receive permits on five projects this summer and has just started to drill on its first target, the Schooner Fault.

With Eric Sprott’s money backing it (and New Found Gold’s as well), Exploits is embarking on one of Newfoundland’s most ambitious drill programs in search of the next Keats.

Combine that aggressive program with a strong rebound in gold prices, and Exploits looks like a great way to leverage a gold bull market and a Newfoundland gold rush.

A Modern-Day Gold Rush

Unlike gold rushes of the past, where individual prospectors would flock to regions to pan the area’s streams for gold, the push into Newfoundland has been marked by a company-level staking frenzy in the province.

The map below, which Exploits keeps updated for the sector, amply demonstrates the results of that frenzy.

Simply put, available ground in this part of the world is increasingly hard to come by, and yet Exploits Discovery has done an admirable job securing an impressive core land position, spread over several projects.

The level of activity in the area means that pretty much any “Keats-like” discovery in the area by any of its players should results in a positive, area play bump for all.

Sprott Buys In…And New Found Gold Too!

But a savvy investor like Eric Sprott isn’t just looking for an area play bump. He’s looking to make bets on companies with the best chance of making an actual discovery.

And, with full participation in a C$4 million private placement and then half-participation in a second C$8 million private placement (New Found took up the other C$4 million), Sprott is clearly betting Exploits Discovery could be that company.

With more than C$16 million now in its treasury, Exploits is fully cashed up to drill the five projects for which it has now received drilling permits and is looking to permit more targets through the summer.

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Drills Will Turn On Five Projects This Summer

The drills will turn on the following targets in Newfoundland in the coming months:

• Schooner: Exploits will ply Schooner, located within the company’s Mt. Peyton project to the west of Keats, with 3,000 meters of drilling this summer, guided by prior surface sampling and geophysical work on the prospect

• Johnathan’s Pond: The company will drill 3,000 meters on two key targets within this large property

• Quinlan Vein: Situated within Exploits’ Dog Bay gold project, Quinlan Vein will see 2,250 meters of drilling this year, with a focus on following up on high-grade gold (up to 61.3 g/t) within several stacked quartz veins

• Little Joanna Vein: This target is also within the Dog Bay project, and it will receive a nine-hole, 2,250-meter diamond drilling program to test targets highlighted by previous surface work

• True Grit: The 3,000-meter program on this project will focus on high-grade targets within a large halo of lower-grade mineralization.

While all these meterages are estimates, Exploits fully expects to drill at least 12,000 meters across these five projects this summer.

That’s five chances to make a discovery in one of Canada’s hottest gold districts.

Newfoundland’s Next Big Winner?

Will Exploits Discovery be the company to make Newfoundland’s next big gold find?

Eric Sprott is betting C$8 million of his own money that the answer is “yes.” And New Found Gold, maker of perhaps the key discovery that started the Newfoundland boom, has also made a C$4 million investment in Exploits Discovery.

If you want to follow their lead, the drills are turning now.

In short, this is a great time — before the news starts to flow — for smart resource investors to explore Exploits Discovery.

CLICK HERE
To Learn More about Exploits Discovery Corp.