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New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to announce that it has completed a maiden diamond drilling program at its 100% owned Moray gold project ("Moray") located 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine operated by Alamos Gold Inc.
The Moray drilling program, which commenced on July 12, 2025, was completed on August 14, 2025 by Enviro North Exploration Inc. out of Sturgeon Falls, Ontario. In total, six drillholes were completed for a total of 1,502 metres. Assays are pending. New Break has decided to focus its current exploration efforts entirely on its Moray property and nearby mineral claims located in Ontario.
Sundog Gold Project Update
Effective April 30, 2025, New Break announced the sale of its Sundog gold project to Guardian Exploration Inc. (TSXV: GX) ("Guardian"). New Break shareholders remain leveraged to the Sundog gold project through New Break's option to repurchase 20% of the project at any time for $1. Guardian is responsible for funding 100% of the exploration expenditures and meeting the obligations of the mineral exploration agreement governing the Sundog project. On May 24, 2025, Guardian submitted an application to the Nunavut Planning Commission ("NPC") in respect of a planned summer 2025 exploration program at Sundog. On June 20, 2025, the NPC approved the exploration program, indicating that no additional review was required by the Nunavut Impact Review Board. New Break expects that the exploration program will be undertaken in the near future.
Sale of Esker Gold Project Exploration Data
Other than its option to retain a 20% interest in the Sundog gold project, New Break has no further interest in any projects or mineral claims in Nunavut. As a result, New Break is pleased to announce that it has sold certain exploration data with respect to the Esker gold project and surrounding areas in Kivalliq, Nunavut to Guardian in exchange for a cash payment of $20,000 and 1,000,000 common shares in the capital of Guardian. Including the 5,000,000 common shares of Guardian that New Break received in connection with the sale of the Sundog gold project, New Break now holds 6,000,000 common shares of Guardian currently valued at $840,000.
Qualified Person
Peter C. Hubacheck, P. Geo., consulting geologist to New Break, and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.
About New Break Resources Ltd.
New Break is a proudly Canadian mineral exploration company focused on its Moray gold project located 49 km south of Timmins, Ontario, in a well-established mining camp within proximity to existing infrastructure, 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Shareholders also remain leveraged to exploration success in Nunavut, one of the most up and coming regions in Canada for gold exploration and production through New Break's 20% carried interest in the Sundog gold project. The Company is supported by a highly experienced team of mining professionals. Information on New Break is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.newbreakresources.ca. New Break trades on the Canadian Securities Exchange (www.thecse.com) under the symbol CSE: NBRK.
For further information on New Break, please visit www.newbreakresources.ca or contact:
| William Love, Chief Executive Officer Tel: 519-272-6312 wlove@newbreakresources.ca | Michael Farrant, President and CFO Tel : 416-278-4149 E-mail: mfarrant@newbreakresources.ca |
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No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.
CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to receipt of regulatory and stock exchange approvals, grants of equity-based compensation, renouncement of flow-through exploration expenses, property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles, an inability to predict and counteract the effects global events on the business of the Company, including but not limited to the effects on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company's control. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's financial statements and management's discussion and analysis (the "Filings"), such Filings available upon request.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263435
