Mr. William Love reports
NEW BREAK CLOSES OVERSUBSCRIBED $1,009,800 NON-BROKERED FLOW-THROUGH FINANCING
Further to New Break Resources Ltd.'s news release dated Dec. 29, 2025, it has closed a non-brokered private placement flow-through financing through the issuance of 2,805,000 common shares that qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of 36 cents per FT share for gross proceeds of $1,009,800.
The gross proceeds from the sale of the FT shares will be used for Canadian exploration expenses (CEE) and will qualify as flow-through mining expenditures as defined in the Income Tax Act (Canada). The company will renounce such CEE to the purchasers of the FT shares with an effective date of no later than Dec. 31, 2025. New Break paid $36,720 in finders' fees in connection with the closing of the offering.
These proceeds will be used in connection with the first phase of a planned 10,000-plus-metre drilling program, expected to begin in January, 2026, at the company's Moray gold project, located approximately 49 kilometres south of Timmins, Ont., and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Drilling will focus on expanding the known mineralization in the Zavitz gold zone, where mineralization is open in multiple directions, with priority on exploring the lateral continuation of the zone to both the northwest and southeast. In addition, New Break plans to test other target areas on the property that exhibit similar geological characteristics as the Zavitz discovery zone.
All securities issued and issuable pursuant to this private placement are subject to a statutory hold period of four months and one day expiring on May 1, 2026, in accordance with applicable Canadian securities laws. The completion of the financing is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including final approval of the Canadian Securities Exchange (the CSE).
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, Ont., 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-per-cent 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+ and on the company's website.
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