Exhibit 99.25
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1: | Name and Address of Company |
New Found Gold Corp. (the “Company”)
Suite 1430, 800 West Pender Street
Vancouver, British Columbia
Canada V6C 2V6
Item 2: | Date of Material Change |
May 11, 2021
Item 3: | News Release |
A news release was disseminated on May 11, 2021 through Canada Newswire and a copy was subsequently filed on SEDAR.
Item 4: | Summary of Material Change |
The Company announced the appointment of Mr. Douglas Hurst as a director of the Company effective immediately.
Item 5: | Full Description of Material Change |
The Company announced the appointment of Mr. Douglas Hurst as a director of the Company effective immediately.
Mr. Hurst was part of the founding group of Newmarket Gold, which, following discovery of the high-grade Swan Zone at the company’s Fosterville mine, was sold to Kirkland Lake Gold in 2016 for approximately $1 billion.
He is a serially successful mining entrepreneur and executive. He founded International Royalty Corporation, which was sold to Royal Gold for approximately $700 million in 2010.
Mr. Hurst holds a Bachelor of Science in geology from McMaster University (1986) and has over 30 years of experience in the mining industry as a geologist, consultant, mining analyst, and senior executive. He was a mining analyst with McDermid St. Lawrence, Sprott Securities and a contract analyst to Pacific International Securities and Octagon Capital up until 1995. From 1995 to 2003 Mr. Hurst operated D.S. Hurst Inc. a company offering corporate, evaluation and financing consulting services to the mining industry. He was a founder and executive of International Royalty Corporation from 2003 to 2006, and a director until 2010 when the company was purchased by Royal Gold for approximately $700 million. Mr. Hurst was also part of the founding group of Newmarket Gold, which was sold to Kirkland Lake Gold in 2016 for approximately $1 billion. Mr. Hurst currently serves as the Chairman of Northern Vertex Mining and as a director of both Calibre Mining and Newcore Gold.
The Company also announced the resignation of Mr. John Anderson as a director of the Company effectively immediately.
Item 6: | Reliance on subsection 7.1(2) of National Instrument 51-102 |
Not applicable.
Item 7: | Omitted Information |
Not applicable.
Item 8: | Executive Officer |
For further information, please contact Craig Roberts, Chief Executive Officer & Director at 604.562.9664 or croberts@newfoundgold.ca.
Item 9: | Date of Report |
May 12, 2021