<SEC-DOCUMENT>0001104659-25-057162.txt : 20250606
<SEC-HEADER>0001104659-25-057162.hdr.sgml : 20250606
<ACCEPTANCE-DATETIME>20250606123136
ACCESSION NUMBER:		0001104659-25-057162
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250605
FILED AS OF DATE:		20250606
DATE AS OF CHANGE:		20250606

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Found Gold Corp.
		CENTRAL INDEX KEY:			0001840616
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39966
		FILM NUMBER:		251029701

	BUSINESS ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		1055 WEST GEORGIA STREET
		STREET 2:		SUITE 2129
		CITY:			VANCOUVER
		NON US STATE TERRITORY:  	CANADA
		PROVINCE COUNTRY:   	A1
		ZIP:			V6E 3P3
		BUSINESS PHONE:		845-535-1486

	MAIL ADDRESS:	
		ADDRESS IS A NON US LOCATION: 	YES
		STREET 1:		998 HARBOURSIDE DRIVE
		STREET 2:		UNIT #221
		CITY:			NORTH VANCOUVER
		NON US STATE TERRITORY:  	CANADA
		PROVINCE COUNTRY:   	A0
		ZIP:			V7P 3T2
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2517343d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR 15d-16 UNDER THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For the month of <B>June&nbsp;2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Commission File Number: <B>001-39966</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 24pt"><B>New Found Gold Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center"><FONT>(Exact name of registrant as specified in its charter)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.65pt; padding-left: 5.65pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1055 West Georgia Street, Suite&nbsp;2129<BR>
    Vancouver, British Columbia<BR>
    V6E 3P3 Canada</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.65pt; padding-left: 5.65pt; font-size: 10pt; text-align: center">(Address of principal executive office)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover Form&nbsp;20-F or 40-F:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#168;</FONT>
Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>INCORPORATION BY REFERENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Exhibit&nbsp;99.1 to this Form&nbsp;6-K is incorporated by reference as an additional exhibit to the registrant&rsquo;s Registration Statement on <A HREF="https://www.sec.gov/Archives/edgar/data/1840616/000110465925052357/tm2515011d1_f10.htm">Form&nbsp;F-10 (File No.&nbsp;333-287547)</A>.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&nbsp;INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="white-space: nowrap">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.75pt solid"><B>Exhibit</B></P></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-bottom: black 0.75pt solid"><B>Description</B></P></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; vertical-align: top; font-size: 10pt"><A HREF="tm2517343d1_ex99-1.htm">99.1</A></TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><A HREF="tm2517343d1_ex99-1.htm">Material change report dated June&nbsp;5, 2025.</A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><B>NEW FOUND GOLD CORP.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">(Registrant)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 6%">Date:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 43%">June&nbsp;6, 2025</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 43%">/s/ Keith Boyle</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Keith Boyle</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
  </TABLE>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2517343d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>FORM&nbsp;51-102F3</B></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>MATERIAL CHANGE REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name and Address of Company</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New Found Gold Corp. (&ldquo;<B>Company</B>&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1055 West Georgia Street, Suite&nbsp;2129</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vancouver, British Columbia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">V6E 3P3 Canada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date of Material Change</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">May&nbsp;27, 2025, May&nbsp;28, 2025 and June&nbsp;3, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 3</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>News Release</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company disseminated news releases announcing
the material changes described herein through the news dissemination services of Globe Newswire on May&nbsp;27, 2025 and May&nbsp;28,
2025 and through the news dissemination services of Cision PR Newswire on June&nbsp;3, 2025 and copies were subsequently filed on SEDAR+.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Summary of Material Change</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May&nbsp;27, 2025, the Company entered into
an agreement with BMO Capital Markets and SCP Resource Finance LP, on behalf of themselves and a syndicate of Underwriters (as defined
below) led by BMO Capital Markets and SCP Resource Finance LP, under which the Underwriters agreed to buy, on a bought deal basis, 21,400,000
charity flow-through common shares of the Company (the &ldquo;<B>Charity Flow-Through Common Shares</B>&rdquo;) at a price of C$2.29 per
Charity Flow-Through Common Share (the &ldquo;<B>Charity Flow-Through Offering Price</B>&rdquo;) for aggregate gross proceeds of approximately
C$49 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May&nbsp;28, 2025, the Company increased the
size of the bought deal financing via the addition of a new hard dollar tranche of 4,370,000 common shares (the &ldquo;<B>Common Shares</B>&rdquo;)
at a price of C$1.63 per Common Share (the &ldquo;<B>Common Share Offering Price</B>&rdquo;) for gross proceeds of approximately C$7 million.
The Charity Flow-Through Common Shares at the Charity-Flow Through Offering Price remained unchanged, and together with the Common Shares
tranche, comprise the offering (the &ldquo;<B>Offering</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June&nbsp;3, 2025, the Company closed the first
tranche of the Offering of (i)&nbsp;15,265,000 Charity Flow-Through Common Shares at the Charity Flow-Through Offering Price and (ii)&nbsp;4,370,000
Common Shares at the Common Share Offering Price for aggregate gross proceeds of C$42,079,950 (the &ldquo;<B>Tranche 1</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Full Description of Material Change</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.1</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Full Description of Material Change</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May&nbsp;27, 2025, the Company entered into
an agreement with BMO Capital Markets and SCP Resource Finance LP, on behalf of themselves and a syndicate of Underwriters, led by BMO
Capital Markets and SCP Resource Finance LP, under which the Underwriters agreed to buy, on a bought deal basis, 21,400,000 Charity Flow-Through
Common Shares at the Charity Flow-Through Offering Price for aggregate gross proceeds of approximately C$49 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May&nbsp;28, 2025, the Company increased the
size of the bought deal financing via the addition of 4,370,000 Common Shares at the Common Share Offering Price for gross proceeds of
approximately C$7 million. The Charity Flow-Through Common Shares at the Charity-Flow Through Offering Price remained unchanged, and together
with the Common Shares tranche, comprise the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company granted the Underwriters an option,
exercisable at the Charity Flow-Through Offering Price up to 30 days following closing of Tranche 1, to purchase up to an additional 15%
of the Charity Flow-Through Common Shares issued in connection with the Offering. Each Charity Flow-Through Common Share will qualify
as a &quot;flow-through share&quot; within the meaning of subsection 66(15) of the <I>Income Tax Act</I> (Canada).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June&nbsp;3, 2025, the Company announced that
it had closed Tranche 1 of the Offering. Tranche 1 was completed pursuant to an underwriting agreement dated May&nbsp;29, 2025 (the &ldquo;<B>Underwriting
Agreement</B>&rdquo;), entered into among the Company and a syndicate of underwriters led by BMO Capital Markets and SCP Resource Finance
LP and including Paradigm Capital Inc., Canaccord Genuity Corp., Haywood Securities Inc., Stifel Nicolaus Canada Inc., Roth Canada,&nbsp;Inc.,
A.G.P. Canada Investments ULC and ATB Securities Inc. (collectively, the &ldquo;<B>Underwriters</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the Underwriting Agreement, the second
tranche of the Offering (&ldquo;<B>Tranche 2</B>&rdquo;) will consist of the further issuance by the Company of 6,135,000 Charity Flow-Through
Common Shares at the Charity Flow-Through Offering Price per Charity Flow-Through Common Share for further gross proceeds of C$14,049,150.
Tranche 2 is expected to close on or about June&nbsp;12, 2025. Completion of the Offering remains subject to the Company receiving all
necessary regulatory approvals, including final approval of the TSX Venture Exchange to list the Charity Flow-Through Common Shares and
the Common Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr.&nbsp;Eric Sprott intends to participate in Tranche 2 to maintain
his approximate 19% shareholdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The gross proceeds from the offering of the Charity
Flow-Through Common Shares will be used by the Company to incur eligible &ldquo;Canadian exploration expenses&rdquo; that qualify as &ldquo;flow-through
mining expenditures&rdquo; (as such terms are defined in the <I>Income Tax Act</I> (Canada)) (the &ldquo;<B>Qualifying Expenditures</B>&rdquo;)
related to the Company&rsquo;s 100% owned Queensway Gold Project (&ldquo;<B>Queensway</B>&rdquo; or the &ldquo;<B>Project</B>&rdquo;),
on or before December&nbsp;31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers for the Charity Flow-Through
Common Shares effective on or before December&nbsp;31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The net proceeds from the offering of the Common
Shares will be used by the Company to advance the Project and for general corporate and working capital purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain directors and officers of the Company
participated in Tranche 1, specifically, Keith Boyle purchased 100,000 Common Shares, Chad Williams purchased 30,675 Common Shares and
Fiona Childe purchased 15,337 Common Shares. Accordingly, their participation in the Offering constitutes &ldquo;a related party transaction&rdquo;
within the meaning of Multilateral Instrument 61-101 &ndash; <I>Protection of Minority Shareholder Approval </I>(&ldquo;<B>MI 61-101</B>&rdquo;).
The Company has relied on the exemptions from valuation and minority shareholder approval requirements of MI 61-101 contained in sections
5.5(a)&nbsp;and 5.7(1)(a)&nbsp;of MI 61-101 in respect of such related party participation. The Company did not file a material change
report 21 days prior to closing Tranche 1, which the Company deemed reasonable and necessary in the circumstances to complete Tranche
1 of the Offering in a timely manner. The Offering was approved by the directors of the Company and no materially contrary view was expressed
nor was there any material disagreement in the approval process adopted by the directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Charity Flow-Through Common Shares and the
Common Shares were offered by way of a prospectus supplement in each of the Provinces and Territories of Canada (other than the Province
of Quebec and Nunavut) and were also offered by way of a U.S. prospectus supplement forming part of the Company&rsquo;s registration statement
on Form&nbsp;F-10 in the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This material change report shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.2</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Disclosure for Restructuring Transactions</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 6</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Reliance on subsection 7.1(2)&nbsp;of National Instrument
51-102</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The report is not being filed on a confidential basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 7</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Omitted Information</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are no significant facts required to be disclosed herein which
have been omitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 8</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Executive Officer</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For further information, please contact Keith
Boyle, Chief Executive Officer of the Company, at +1 (416) 910-4653 or <U>info@newfoundgold.ca</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 71pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9</B></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Date of Report</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June&nbsp;5, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Forward-Looking Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This material change report contains certain
 &ldquo;forward-looking statements&rdquo; within the meaning of Canadian and U.S. securities legislation (including the Private Securities
Litigation Reform Act of 1995), including statements relating to the use of proceeds of the Offering, the tax treatment of the Charity
Flow-Through Common Shares, the expected closing date and completion of the Tranche 2, the receipt of all necessary approvals in connection
with the Offering and statements related to Queensway and the Company&rsquo;s planned and future exploration at Queensway. Although the
Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking
statements are statements that are not historical facts; they are generally, but not always, identified by the words &ldquo;expects&rdquo;,
 &ldquo;plans&rdquo;, &ldquo;anticipates&rdquo;, &ldquo;believes&rdquo;, &ldquo;intends&rdquo;, &ldquo;estimates&rdquo;, &ldquo;projects&rdquo;,
 &ldquo;aims&rdquo;, &ldquo;suggests&rdquo;, &ldquo;potential&rdquo;, &ldquo;goal&rdquo;, &ldquo;objective&rdquo;, &ldquo;prospective&rdquo;,
 &quot;preliminary,&quot; &ldquo;possibly&rdquo;, and similar expressions, or that events or conditions &ldquo;will&rdquo;, &ldquo;would&rdquo;,
 &ldquo;may&rdquo;, &ldquo;can&rdquo;, &ldquo;could&rdquo; or &ldquo;should&rdquo; occur, or are those statements, which, by their nature,
refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company&rsquo;s
management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances
that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in
such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange or the NYSE
American LLC, the Company undertakes no obligation to update these forward-looking statements if management&rsquo;s beliefs, estimates
or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these
forward-looking statements include risks related to: unexpected changes to the tax treatment of the Charity Flow-Through Common Shares,
the Company receiving all approvals necessary for the completion of the Offering, and the timing of such approvals, the possibility that
the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company&rsquo;s exploration
plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political
uncertainties and regulatory or legal changes that might interfere with the Company&rsquo;s business and prospects. The reader is urged
to refer to the Company&rsquo;s Annual Information Form, Management&rsquo;s Discussion and Analysis and other reports and documents filed
by the Company with applicable securities regulatory authorities from time to time, publicly available through the SEDAR+ at www.sedarplus.ca
or through the EDGAR at www.sec.gov for a more complete discussion of such risk factors and their potential effects.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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