SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

New Found Gold Corp.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

64440N103

(CUSIP Number)

11/13/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No.

64440N103

Names of Reporting Persons

DUNDEE CORP

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 44,378,398.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 44,378,398.00
8	Shared Dispositive Power 0.00

Aggregate Amount Beneficially Owned by Each Reporting Person

44,378,398.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

12.9 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person: 1. The number in Rows 5, 7 and 9 Includes (i) 36,722,569 Common Shares, no par value ("Common Shares"), of New Found Gold Corp. (the "Issuer") held of record by Dundee Corporation ("Dundee") and (ii) 7,655,829 Common Shares issuable, within 60 days of November 13, 2025, upon the exercise of warrants to purchase shares of Common Shares held of record by Dundee. 2. The percentage set forth in Row 13 is calculated based on 337,380,934 Common Shares of the Issuer outstanding as of November 13, 2025, plus 7,655,829 Common Shares issuable upon the exercise of warrants held of record by Dundee.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

New Found Gold Corp.

(b)

Address of issuer's principal executive offices:

20 ADELAIDE ST. E, SUITE 603, TORONTO, ONTARIO, CANADA, M5C 2T6.

Item 2.

(a)

Name of person filing:

Dundee Corporation

(b)

Address or principal business office or, if none, residence:

80 Richmond Street West, Suite 2000, Toronto, Ontario, Canada M5H 2A4

(c)

Citizenship:

Ontario, Canada

(d)

Title of class of securities:

Common Shares, no par value

(e)

CUSIP No.:

64440N103

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

44,378,398 Common Shares

(b)

Percent of class:

12.9%

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

44,378,398 Common Shares

(ii) Shared power to vote or to direct the vote:

(iii) Sole power to dispose or to direct the disposition of:

44,378,398 Common Shares

(iv) Shared power to dispose or to direct the disposition of:

Item 5.

Ownership of 5 Percent or Less of a Class.

Not Applicable

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DUNDEE CORP

Signature:	Mark Pereira
Name/Title:	Vice President and Corporate Secretary
Date:	02/02/2026

SEC Form SCHEDULE 13G filed by New Found Gold Corp