New Break Resources Ltd. announced that it has entered into a mining claim acquisition agreement with two arm's length individuals to acquire 4 single cell mineral claims totaling approximately 86 hectares in English and Zavitz Townships, that fill in the last remaining small gap in the Company's main Moray property (" Moray") position. Moray is located approximately 49 km southeast of Timmins, Ontario, and 32 km northeast of the Young-Davidson gold mine operated by Alamos Gold Inc. These mineral claims contain a number of historical gold showings. The 43 North Showing, discovered by Esso Minerals in 1987, yielded grab samples of up to 1.2 grams per tonne gold (" g/t Au").
The Doctor and Seska Trenches, sampled by Tri Origin Exploration Ltd. in 1996, yielded results up to 6.65 g/t Au and 1.2 g/t Au, respectively. Most importantly, the acquisition of these mineral claims, on a royalty free basis, continues to add highly prospective gold exploration targets at Moray, beyond the Zavitz discovery zone. Under the terms of the Agreement, the Vendor will receive a cash payment of $16,000 and will be issued 80,000 common shares of New Break at closing in exchange for 100% ownership in the four mineral claims, which will also be royalty free.
The Consideration Shares are subject to a statutory hold period of four months and one day following closing. The acquisition is subject to the receipt of all required regulatory approvals including the approval of the Canadian Securities Exchange. Following the 2025 maiden drilling program at Moray, which resulted in the discovery of the Zavitz gold zone, New Break applied for a new exploration permit to expand the number of existing permitted drill pads and properly locate them, based on the location of the Zavitz zone gold discovery and exploration work completed since the issuance of the existing September 2023 permit.
On February 10, 2026, New Break was issued Exploration Permit PR-26-000004, which expires on February 9, 2029. Exploration Update. In late January 2026, New Break announced the resumption of Moray drilling, including mobilization by Enviro North Exploration Inc. and site preparation.
The Company drilled two holes under its existing exploration permit, for a total of 569 metres in a high priority target area approximately three km to the southeast of the Zavitz zone. New Break announced that it has encountered visible gold at 100.3 metres in drillhole NBR-26-04. While this is the first instance of visible gold in drilling on the Moray property, there is no guarantee that this will have a material positive impact on assay results.
Assays are still expected to take a number of weeks, with this phase of drilling expected to last approximately until the end of March.
