EXHIBIT 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
| Item 1 | Name and Address of Company |
New Found Gold Corp. (“Company”)
1055 West Georgia Street, Suite 2129
Vancouver, British Columbia
V6E 3P3 Canada
| Item 2 | Date of Material Change |
March 3, 2025
| Item 3 | News Release |
The Company disseminated a news release announcing the material change described herein through the news dissemination services of Cision PR Newswire on March 3, 2025, and a copy was subsequently filed on SEDAR+.
| Item 4 | Summary of Material Change |
The Company announced the appointment of Chad Williams to its board of directors (the “Board”). Effective March 3, 2025, Mr. Williams replaces Collin Kettell, who has resigned from the Board.
| Item 5 | Full Description of Material Change |
| Item 5.1 | Full Description of Material Change |
The Company announced the appointment of Chad Williams to its Board. Effective March 3, 2025, Mr. Williams replaces Collin Kettell, Founder of the Company, who has stepped off the Board.
Mr. Williams is the Chairman and Founder of Red Cloud Mining Capital Inc. He has extensive experience in mining finance and management, having previously held the positions of CEO of Victoria Gold Corp. and Head of Mining Investment Banking at Blackmont Capital Inc., and was a highly ranked mining analyst at TD Bank and other Canadian brokerage firms.
| Item 5.2 | Disclosure for Restructuring Transactions |
Not applicable.
| Item 6 | Reliance on subsection 7.1(2) of National Instrument 51-102 |
The report is not being filed on a confidential basis.
| Item 7 | Omitted Information |
There are no significant facts required to be disclosed herein which have been omitted.
| Item 8 | Executive Officer |
For further information, please contact Keith Boyle, Chief Executive Officer of the Company, at 1-845-535-1486 or info@newfoundgold.ca.
| Item 9 | Date of Report |
March 3, 2025
