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New Break Resources Ltd. (CSE: NBRK,OTC:NBRKF) ("New Break" or the "Company") is pleased to announce the resumption of drilling by Enviro North Exploration Inc., at its 100% owned Moray gold project ("Moray") as part of its planned 10,000 metre 2026 drilling program. Moray is located 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine operated by Alamos Gold Inc. ("Alamos").
Earlier this year, New Break drilled 3,376 metres in 22 drillholes, with 20 of those drilled in the Zavitz gold zone, yielding further excellent intervals of gold mineralization (see news release May 13, 2026). Hole NBR-26-05 returned the best interval in the mafic volcanics of 3.46 g/t Au over 38.6 metres from 82.0 to 120.6 metres. Of possibly more significance was the fact that drilling delivered gold mineralized intervals in the syenite intrusive. Specifically, hole NBR-26-09 returned 1.31 g/t Au over 8.5 metres from 76.0 to 84.5 metres and hole NBR-26-12 returned 1.13 g/t Au over 7.5 metres from 36.0 to 43.5 metres.
This summer drilling program is expected to comprise approximately 2,500 metres in a minimum of 11 drillholes with the first 2 to 3 drillholes designed to fill in the top of the existing mineralized zone. This is a necessary exercise, both in terms of compiling information required for mineral resource estimation and for internal analysis with respect to open pit economics.
The remainder of the drillholes will be collared in the syenite intrusive and drilled back through the contact with the mafic volcanics to specifically test for the extension of gold mineralization into the syenite. If successful, it is expected that the mineralization will be at a lower grade than the mineralization in the mafic volcanics due to the nature of the host rock.
The Young-Davidson gold mine evolved from a relatively narrow, high-grade vein deposit into one of Canada's largest underground gold mines when deep drilling demonstrated that the adjacent syenite intrusive hosted extensive disseminated gold mineralization suitable for bulk underground mining. At Young-Davidson, it is the syenite that contains the majority of the estimated gold mineral reserve. Demonstration of the ability of the Moray intrusive to be widely mineralized, with the potential to host a large gold deposit, will be of greatest interest to a potential acquiror.
With respect to economics, lower grade widely disseminated mineralization in a syenite intrusive can be very profitable. For example, during Q1 2026, the average gold grade milled by Alamos at the Young-Davidson underground gold mine was 1.75 g/t Au. This generated US$97.4 million of mine-site free cash flow before capital expenditures, on 31,000 ounces of gold sales (source: Alamos news release April 29, 2026).
Michael Farrant, President of New Break commented, "We are very excited to be specifically testing for gold mineralization in the syenite with this round of drilling. We know that outlining a gold mineralized zone within the syenite has the potential to be a game changer for New Break by positioning the Moray project to be a prime target for future acquisition by a larger gold producer. In my opinion, from a risk versus reward perspective, with a gold discovery in the Ontario Abitibi having already been made in a geological setting very similar to the nearby Young-Davidson mine, New Break continues to offer one of the best investment opportunities in the junior mining sector."
QA/QC Procedures and Qualified Person
QA/QC procedures will be executed to ensure all work is conducted in accordance with best practices. Samples from this drilling program will be analyzed at Activation Laboratories in Timmins, Ontario, which is ISO 17025 certified. 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 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, and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Shareholders are also leveraged to exploration success in Nunavut, Canada, through New Break's 20% carried interest in the Sundog gold project and ownership of 6.0 million shares of Guardian Exploration Inc. (TSXV: GX). 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 in Canada on the Canadian Securities Exchange (www.thecse.com) under the symbol (CSE: NBRK,OTC:NBRKF) in the United States on the OTCQB Venture Market (www.otcmarkets.com) under the symbol (OTCQB: NBRKF) and on the Frankfurt Stock Exchange (www.live.deutsche-boerse.com) under the symbol (FSE: O91).
For further information on New Break, please visit www.newbreakresources.ca or contact:
Michael Farrant, President and CFO
Tel : 416-278-4149
E-mail: mfarrant@newbreakresources.ca
William Love, Chief Executive Officer
Tel: 519-272-6312
E-mail: wlove@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/303465
