202612 releases
New Break Refines Targets as 2026 Drilling Resumes at its Moray Gold Project
New Break Resources says drilling has resumed at its 100% owned Moray gold project, 49 km southeast of Timmins, Ontario, with a fall 2026 program expected to comprise a minimum of 1,500 metres in approximately four to six drillholes. The first hole is intended to be the deepest drilled on the property, targeting hematite altered mafic volcanics in the Zavitz gold zone at a 70 degree dip.
Drill resultsNew Break Reports 3.12 g/t Au Over 6.5 Metres and 1.61 g/t Au Over 10.8 Metres From the Balance of Summer Drilling at its Moray Gold Project
Results from the final four holes of a ten-hole, 1,996 metre summer drilling program in the Zavitz gold zone at the 100%-owned Moray gold project, 49 km southeast of Timmins, Ontario, included 3.12 g/t Au over 6.5 metres in NBR-26-31 and 1.61 g/t Au over 10.8 metres in NBR-26-29, plus 2.65 g/t Au over 4.2 metres and 1.57 g/t Au over 5.5 metres in NBR-26-30. New Break has completed 5,372 metres in 32 drillholes of its planned 10,000 metre 2026 program.
Drill resultsNew Break Drills 5.28 g/t Au Over 11.2 Metres and 3.95 g/t Au Over 14.0 Metres Delivering Further Strong Results at its Moray Gold Project
Drilling at the Zavitz gold zone on the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, returned 5.28 g/t Au over 11.2 metres from 160.3 metres in hole NBR-26-27 (including 26.50 g/t Au over 0.7 metres) and 3.95 g/t Au over 14.0 metres from 150.0 metres in NBR-26-28. Results cover the first six of 10 holes totalling 1,996 metres; assays for the remaining four holes (1,198 metres) are pending. Drilling is expected to resume in early September 2026.
Drill resultsNew Break Resumes 2026 Drilling Program at its Moray Gold Project
Drilling has resumed at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, as part of a planned 10,000 metre 2026 program, with the summer phase comprising approximately 2,500 metres in a minimum of 11 drillholes. The first 2 to 3 holes will fill in the top of the existing mineralized zone, with the remainder collared in the syenite intrusive to test for gold mineralization extending into it. Earlier 2026 drilling totalled 3,376 metres in 22 holes.
Drill resultsNew Break Announces Receipt of DTC Eligibility in the United States
New Break Resources' common shares are now eligible for electronic clearing and settlement in the United States through the Depository Trust Company. The shares recently began trading on the OTCQB Venture Market under the symbol NBRKF, and also trade on the CSE as NBRK and the Frankfurt Stock Exchange as O91. The company is focused on its Moray gold project, located 49 km south of Timmins, Ontario.
CorporateNew Break Consolidates Moray Project Land Position and Grants Stock Options
Five mineral claims in McArthur Township covering 108 hectares were purchased for $3,500, and an additional 36 claims covering 774 hectares in Fripp and McArthur Townships were staked for $1,800, joining two previously non-contiguous land positions at the Moray property into one 28,286-hectare package located 49 km southeast of Timmins, Ontario. Effective May 20, 2026, 300,000 incentive stock options were granted to three consultants at $0.285 per common share for five years, vesting in full on the grant date.
CorporateNew Break Drills 3.46 g/t Au Over 38.6 Metres and Intercepts Gold in Syenite at its Moray Gold Project
Drilling of 3,376 metres in 22 holes at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, returned 3.46 g/t Au over 38.6 metres from 82.0 to 120.6 metres in NBR-26-05, including 7.16 g/t Au over 12.1 metres, plus 2.77 g/t Au over 21.5 metres in NBR-26-04 and 2.62 g/t Au over 16.8 metres in NBR-26-03. Four holes collared in the syenite intersected gold for the first time in that unit, including 1.31 g/t Au over 8.5 metres. An additional 6,700 metres is planned for summer and fall 2026.
Drill resultsNew Break Resumes Drilling at its Moray Gold Project
Drilling has commenced on the first phase of a planned 10,000 metres for 2026 at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, with a minimum of 2,500 metres over roughly two months by Enviro North. The program will test extensions of the Zavitz zone, discovered in the 2025 program of 2,924 metres in 12 holes that returned 3.17 g/t Au over 43.0 metres and 1.04 g/t Au over 86.7 metres, plus two other targets. The Company has approximately $2.8 million in cash.
Drill results
202522 releases
New Break Closes Oversubscribed $1,009,800 Non-Brokered Flow-Through Financing
A non-brokered flow-through private placement closed for gross proceeds of $1,009,800 through the issuance of 2,805,000 flow-through common shares at $0.36 each, with $36,720 paid in finder's fees and a hold period expiring May 1, 2026. Proceeds will fund Canadian Exploration Expenses, renounced with an effective date no later than December 31, 2025, for the first phase of a planned 10,000+ metre drill program beginning in January 2026 at the Moray gold project, 49 km south of Timmins, Ontario, focused on the Zavitz gold zone.
FinancingNew Break Announces Results of Annual and Special Meeting of Shareholders
Shareholders of New Break Resources approved all matters at the annual general and special meeting held December 31, 2025 in Toronto, where 36,057,137 common shares were voted, representing 41.59% of the 86,702,100 shares outstanding as at the December 1, 2025 record date. The board was fixed at five directors, with Michael Farrant, Mark Fedosiewich, William Love, Thomas Puppendahl and Andrew Thomson elected, McGovern Hurley LLP re-appointed as auditor, and the stock option plan ratified with 99.99% in favour. Andrew Malim did not stand for re-election.
CorporateNew Break Announces $506,000 Non-Brokered Private Placement Offering of Flow-Through Shares
A non-brokered private placement of up to 1,405,000 flow-through common shares at $0.36 each for gross proceeds of up to $505,800 is planned, with closing expected December 30, 2025 and CEE renounced with an effective date no later than December 31, 2025. Proceeds will fund the first phase of a planned 10,000+ metre 2026 drilling program at the Moray gold project, 49 km south of Timmins, Ontario. A finder's fee of up to 6% of gross proceeds may be payable.
FinancingNew Break Drills 1.57 g/t Au Over 70.7 Metres and 2.00 g/t Au Over 38.0 Metres at its Moray Gold Project
Drilling at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, returned 1.57 g/t Au over 70.7 metres from 95.8 to 166.5 metres in hole NBR-25-09, including 5.74 g/t Au over 10.5 metres, and 2.00 g/t Au over 38.0 metres from 68.0 metres in NBR-25-10, including 19.48 g/t Au over 2.5 metres. Earlier holes were restated as 1.04 g/t Au over 86.7 metres (NBR-25-04) and 3.17 g/t Au over 43.0 metres (NBR-25-05). A 10,000+ metre program is planned to begin mid-January.
Drill resultsNew Break Acquires Additional Mineral Claims at Moray Gold Project
An agreement has been signed to acquire 1,107 hectares of mineral claims adjacent to and northwest of the Moray gold project, 49 km southeast of Timmins, Ontario: 13 single cell and one multi-cell claim totaling about 324 hectares in Zavitz, English, Semple and Bartlett Townships, plus 38 single cell claims of about 783 hectares in Fripp Township. The arm's length vendor receives $5,000 cash and 125,000 common shares, subject to escrow and CSE approval. Historical results include 2.50 g/t Au over 3.0 metres in drillhole TE-98-08.
AcquisitionGuardian Exploration Concludes 2025 Field Work at Sundog Gold Project; Reports Preliminary High Grade Gold Results
The 2025 field program at the Sundog Gold Project in Nunavut's Kivalliq Region, run September 1 to October 7, 2025, collected 248 rock samples including 86 cut channel samples from historic trenches 8, 9B, 10, 17 and 29, with grab and channel values up to 34.45 g/t Au by PhotonAssay. Trench 10 vein-hosted gold mineralization was extended from 15.5 m in 1987 to at least 40 m. Screen metallic fire assay and PhotonAssay-to-Extinction results are pending; 2026 plans include mapping, trenching, drone geophysics and diamond drilling.
Drill resultsNew Break Resumes Drilling in the Zavitz Discovery Zone at the Moray Gold Project
A second phase of diamond drilling began October 23, 2025 at the 100%-owned Moray gold project, 49 km southeast of Timmins, Ontario, targeting the Zavitz zone, with a minimum 1,500 metres planned over approximately four to six weeks by Enviro North Exploration. The maiden 1,502 metre program intersected 4.11 g/t gold over 31.3 metres in NBR-25-05 and 3.35 g/t over 14.8 metres in NBR-25-04. A Mise a la Masse survey completed September 29 to October 9 outlined a 450 metre conductive sulphide zone. The Company holds over $2,000,000 in cash.
Drill resultsNew Break Appoints Mark Fedosiewich and Andrew Thomson to its Board of Directors, Appoints Phillip Walford as Technical Advisor and Grants Stock Options
Mark Fedosiewich and Andrew Thomson have been appointed to the board of New Break Resources, with Phillip Walford, P. Geo, named Technical Advisor and Peter Caldbick and Ronnie Therriault added to the technical team, supporting work at the Moray gold project 49 km southeast of Timmins, Ontario. Effective October 22, 2025, the Company granted 4,160,000 incentive stock options to directors, officers and consultants, exercisable at $0.285 per common share for five years and vesting in full on the grant date.
ManagementNew Break Increases Moray Property Position Through Acquisition and Staking
New Break Resources has expanded its Moray property, located approximately 49 km southeast of Timmins, Ontario, by acquiring roughly 4,719 hectares and staking about 473 hectares, bringing total holdings to 22,275 hectares. The 473 hectares, comprising 22 single cell claims, cost $1,100 from the Ontario Ministry of Mines. The 4,719 hectares are being acquired from two arm's length vendors for $20,000 cash and 500,000 common shares, royalty free, subject to CSE approval, with shares escrowed and released 50% at four months and one day and 50% at six months.
AcquisitionNew Break Receives $2,000,520 From the Early Exercise of Warrants
All 15,796,000 accelerated warrants were exercised, 14,546,000 at $0.12 and 1,250,000 at $0.15, for gross proceeds of $1,933,020, plus 337,500 warrants at $0.20 for $67,500, totalling $2,000,520. New Break Resources now has 86,202,100 common shares outstanding, approximately $2.2 million in treasury and 2,236,350 warrants remaining. Control Person John Ross and Patricia Quigley exercised 3,075,000 warrants and hold 23.94% of shares outstanding.
FinancingNew Break Announces Acceleration of Warrant Expiry Dates
The expiry of outstanding common share purchase warrants from private placements dated December 29, 2023 (750,000 at $0.12 and 1,250,000 at $0.15), March 5, 2024 (250,000 at $0.12), November 15, 2024 (6,106,000 at $0.12), June 27, 2025 (1,252,000 at $0.12) and September 5, 2025 (6,188,000 at $0.12) has been accelerated to 5:00 p.m. Toronto time on October 14, 2025, after shares closed above $0.25 on September 17, 18, 19, 22 and 23, 2025. Full exercise would yield approximately $1,933,020 for exploration at the 100%-owned Moray gold project in Ontario and working capital.
CorporateNew Break Maiden Drilling Returns 4.11 g/t Au Over 31.3 Metres in Drillhole #5 And 3.35 g/t Au over 14.8 Metres in Drillhole #4 at Moray Gold Project
Maiden diamond drilling at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario, returned 4.11 g/t Au over 31.3 metres from 83.0 to 114.3 metres in hole NBR-25-05, including 6.75 g/t Au over 7.1 metres, and 3.35 g/t Au over 14.8 metres in NBR-25-04, including 7.25 g/t Au over 4.0 metres. The six-hole, 1,502-metre program ran from July 12 to August 14, 2025. A follow-up drilling program is targeted for fall 2025.
Drill resultsNew Break Closes Final Tranche of Oversubscribed Private Placement
The third and final tranche of a non-brokered private placement closed effective September 5, 2025, comprising 1,150,000 flow-through shares at $0.085 for $97,750 and 6,188,000 units at $0.075 for $464,100, with no finder's fees. Across three tranches the oversubscribed offering raised $1,000,000 gross ($442,000 from FT Shares, $558,000 from Units), netting $996,940 after $3,060 in finder fees. Each unit includes a warrant exercisable at $0.12 for 24 months. FT proceeds will fund exploration at the Moray gold project, 49 km south of Timmins, Ontario.
FinancingNew Break Provides Exploration and Project Update
A maiden diamond drilling program at the 100% owned Moray gold project, 49 km south of Timmins, Ontario, was completed on August 14, 2025, after starting July 12, 2025, totalling six drillholes for 1,502 metres, with assays pending. Exploration efforts will focus entirely on Moray and nearby Ontario claims. Exploration data for the Esker gold project in Kivalliq, Nunavut was sold to Guardian Exploration for $20,000 cash and 1,000,000 Guardian shares, bringing New Break's holding to 6,000,000 shares valued at $840,000.
Drill resultsNew Break Closes Second Tranche of Private Placement
The second tranche of a non-brokered private placement closed with the issuance of 1,500,000 flow-through common shares at $0.085 per share for gross proceeds of $127,500, with $3,060 paid in finder's fees and a hold period expiring December 1, 2025. Proceeds will fund Canadian Exploration Expenses for the drilling program in progress at the Moray gold project, 49 km south of Timmins, Ontario. Control person Patricia Quigley purchased 600,000 FT Shares, a related party transaction under MI 61-101.
FinancingNew Break Begins Maiden Drilling Program at the Moray Gold Project
Drilling has commenced at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario and 32 km northwest of Alamos Gold's Young-Davidson mine. Enviro North Exploration Inc. of Sturgeon Falls, Ontario has been engaged for a minimum 1,500 metre diamond drilling program at an all-inclusive price of CDN$125 per metre. Drilling will test four targets: Trench 1, Trench 12, the Moray Unconformity, and a chargeability high on the northwestern margin of the syenite.
Drill resultsNew Break Announces Closing of First Tranche of Private Placement
The first tranche of a non-brokered private placement has closed, consisting of 2,550,000 flow-through shares at $0.085 for gross proceeds of $216,750 and 1,252,000 units at $0.075 for $93,900. Each unit includes one warrant exercisable at $0.12 for 24 months, subject to acceleration if shares close at $0.25 or higher for five non-consecutive trading days over 365 days. Flow-through proceeds will fund drilling at the Moray gold project, 49 km south of Timmins, Ontario. Related parties John Ross and Patricia Quigley bought 2,350,000 flow-through shares and 700,000 units, raising their holding to 23.21% undiluted.
FinancingNew Break Outlines Planned Drilling Program at the Moray Gold Project And Comments on OJEP Assistance
A $200,000 grant was received from the Ontario Ministry of Mines under the 2024-2025 Ontario Junior Exploration Program, reimbursing 50% of eligible exploration spending from April 1, 2024 to February 28, 2025 at the 100%-owned Moray gold project, 49 km south of Timmins, Ontario; aggregate OJEP grants since April 1, 2022 total $636,224. A 2,000 to 2,500 metre summer drill program is planned, targeting Trench 1, Trench 12, the Moray Unconformity and an IP chargeability high on the syenite's northwestern margin.
Drill resultsNew Break Announces $895,000 Non-Brokered Private Placement Offering
A non-brokered private placement of up to 4,000,000 units at $0.075 for up to $300,000 and up to 7,000,000 flow-through shares at $0.085 for up to $595,000, totalling $895,000, is planned by New Break Resources, with closing anticipated on or about June 27, 2025. Each unit includes one warrant exercisable at $0.12 for 24 months, subject to acceleration at $0.25. Flow-through proceeds will fund Canadian Exploration Expenses, mainly drilling at the Moray property, 49 km south of Timmins, Ontario. Insiders may participate.
FinancingNew Break Completes Sale of Sundog Gold Project in Kivalliq, Nunavut
The sale of New Break's 100% interest in the 9,415 hectare Sundog gold project in Nunavut's Kivalliq Region, plus exploration data and 60 drums (12,300 litres) of Jet A fuel, to Guardian Exploration Inc. closed effective April 30, 2025. Consideration was $75,000 cash, 5,000,000 Guardian common shares held until August 31, 2025, and reimbursement of $18,830 in 2025 annual rent paid to Nunavut Tunngavik Incorporated. New Break retains an option to buy back a 20% interest for $1, carried to a mine decision.
AcquisitionNew Break Signs Definitive Agreement to Sell the Sundog Gold Project in Kivalliq, Nunavut
A definitive agreement has been signed with Guardian Exploration Inc. (TSX-V: GX) to sell New Break's 100% interest in the mineral rights and exploration data for the 9,415 hectare Sundog gold project in Nunavut's Kivalliq Region, held under an Inuit Owned Lands Mineral Exploration Agreement, plus 60 drums (12,300 litres) of JetA fuel in Arviat. Consideration is $75,000 cash, 5,000,000 Guardian shares and $18,830 in rent reimbursement, with New Break retaining a 20% carried interest. Closing is expected no later than April 30, 2025.
AcquisitionNew Break Provides Corporate Update William Love Appointed as CEO and Director and Michael Farrant as President and CFO
William Love, formerly VP Exploration, has been appointed CEO and a director, replacing Ashley Kirwan, while Michael Farrant remains President and takes on CFO and Corporate Secretary roles from Jim O'Neill; directors Michael Skutezky and Gordon Morrison have also resigned. The sale of an 80% interest in the Sundog gold project, Kivalliq, Nunavut, to Guardian Exploration for $75,000 cash, 5.0 million Guardian shares (about $250,000) and reimbursement of the $18,830 rent payment is expected to close by end of March 2025, leaving New Break a 20% carried interest.
Management
20249 releases
New Break Signs LOI to Sell the Sundog Gold Project in Kivalliq Region, Nunavut
A non-binding LOI has been signed with Guardian Exploration Inc. (TSX-V: GX) to sell New Break's 100% interest in the mineral rights and exploration data for the 9,415 hectare Sundog gold project in the Kivalliq Region, Nunavut, plus 205 drums of JetA fuel in Arviat, for $75,000 cash and 5,000,000 Guardian common shares. New Break retains a 20% undivided interest carried to production, while Guardian assumes MEA obligations including the $18,830 rent due to NTI by January 1, 2025. Closing is expected no later than February 28, 2025, subject to Exchange, NTI and board approvals.
AcquisitionNew Break Closes Non-Brokered Private Placement Financing
A non-brokered private placement of 6,106,000 units at $0.075 per unit closed for gross proceeds of $457,950, each unit comprising one common share and one warrant exercisable at $0.12 for 24 months, subject to acceleration if shares trade at $0.25 or higher for five non-consecutive days over 365 days. Proceeds will fund planned exploration at the Moray gold project in northern Ontario and working capital; a company controlled by director Gordon Morrison bought 1,350,000 units. Shareholders also approved Ross and Patricia Quigley as a new Control Person, holding 15.84% non-diluted.
FinancingNew Break Initiates Gradient Array IP Survey at its Moray Property
A high-resolution Gradient Array Induced Polarization survey covering 62.5 line-kilometres has begun at the Moray property, about 49 km south of Timmins, Ontario and 32 km northwest of Alamos Gold's Young-Davidson mine. The survey tests for high chargeability sulfides tied to gold mineralization and high resistivity from quartz veining and silica flooding within and around the Moray syenite intrusive. It is the last major exploration program before a planned drilling program focused on the syenite.
Drill resultsNew Break Announces up to $600,000 Non-Brokered Private Placement Offering
A non-brokered private placement of up to 8,000,000 units at $0.075 per unit for gross proceeds of up to $600,000 is planned, with each unit comprising one common share and one warrant exercisable at $0.12 for 24 months, subject to acceleration if shares close at $0.25 or higher for five non-consecutive trading days over 365 days. Proceeds will fund an induced polarization survey at the Moray gold project, 49 km south of Timmins, Ontario, and working capital. Closing is anticipated on or about October 31, 2024, with finder's fees up to 6%.
FinancingNew Break Announces Private Placement and Early Warning Notice
A non-brokered private placement of 1,500,000 flow-through units at $0.11 per unit for gross proceeds of $165,000 is expected to close July 18, 2024, with each unit including one flow-through share and one warrant exercisable at $0.25 until July 18, 2029, subject to acceleration if shares close at $0.40 or higher for five non-consecutive trading days over 365 days. Proceeds will fund an induced polarization survey over the syenite intrusive at the Moray property, 49 km south of Timmins, Ontario. The buyers, John Ross and Patricia Quigley, a greater than 10% holder, will move to 16.75% undiluted from 13.81%, making it a related party transaction under MI 61-101.
FinancingNew Break Discusses Critical Minerals Potential at Moray Property and Closes Final Tranche of Non-Brokered Private Placement
The final tranche of a non-brokered private placement closed effective March 5, 2024, issuing 250,000 units at $0.08 for gross proceeds of $20,000, each unit comprising one share and one 24-month warrant exercisable at $0.12; officer Jim O'Neill purchased 125,000 units. The release also outlines historical nickel-copper results at the 8,483-hectare Moray property, 49 km south of Timmins, Ontario, including 2.2% Ni and 0.13% Cu over 5 feet and 0.31% Ni over 182 feet.
CorporateNew Break Discusses Exploration Results on Expanded Moray Property Package 2023 Samples up to 9.86 g/t Au with Historical Samples up to 1,556 g/t Au
Grab samples from the 2023 field program on the northern Moray Project, 49 km south of Timmins, Ontario, returned up to 9.86 g/t Au and 8.46 g/t Au at Trench 8, with channel samples of 0.55 g/t Au over 1.16 m at Trench 9 and 0.87 g/t Au over 1.00 m at Trench 7; historical samples by prior owners graded up to 1,556 g/t Au. New Break expanded Moray by 6,627 hectares to 8,483 hectares and will focus a 2024 diamond drilling program on the Trench 1 Fiset syenite target. The project was accepted into the Ontario Junior Exploration Program, with $200,000 reimbursement expected in March 2024.
Drill resultsNew Break Announces Financing Extension and Early Warning Notice
The closing date for the non-brokered private placement first announced December 7, 2023 has been extended to February 29, 2024. The offering comprises up to 3,750,000 units at $0.08 for up to $300,000 and 7,000,000 flow-through units at $0.10 for up to $700,000; a first tranche of 1,250,000 FT Units ($125,000) and 750,000 Units ($60,000) closed December 29, 2023. John Ross Quigley acquired 1,375,000 shares and 1,375,000 warrants in that tranche, lifting his holding to 13.81% undiluted and 16.81% partially diluted.
FinancingNew Break Announces Appointment of Gordon G. Morrison to Board of Directors
Gordon G. Morrison, B.Sc., has been appointed to the board of directors of New Break Resources Ltd. He has more than 50 years of mining industry experience, including 32 years at Inco Limited, roles as Vice-President, Exploration at FNX Mining, Chief Technology Officer at Quadra FNX and KGHM International, and President of TMAC Resources prior to its acquisition by Agnico Eagle Mines. Morrison has been a shareholder and advisor to New Break since 2021.
Management
202315 releases
New Break Announces Closing of First Tranche of Private Placement
The first tranche of a non-brokered private placement closed for gross proceeds of $185,000, comprising 1,250,000 flow-through units at $0.10 ($125,000) and 750,000 units at $0.08 ($60,000), each with a 24-month warrant exercisable at $0.15 and $0.12 respectively, subject to acceleration at $0.25. Flow-through proceeds will fund a planned drilling program at the Moray property, 49 km south of Timmins, Ontario. Related parties bought 1,000,000 FT Units and 500,000 Units; no finder's fees were paid.
FinancingNew Break Announces up to $1 Million Non-Brokered Private Placement Offering
A non-brokered private placement of up to $1 million is planned, comprising 3,750,000 units at $0.08 for up to $300,000 and 7,000,000 flow-through units at $0.10 for up to $700,000, plus an over-allotment option for 1,250,000 additional units that would raise unit proceeds to $400,000. Each unit carries a warrant exercisable at $0.12, and each FT unit a warrant at $0.15, both for 24 months. Proceeds will fund drilling at the Moray property near Timmins, Ontario and advance the Sundog Gold Project in Nunavut, with closing expected around December 28, 2023.
FinancingNew Break Identifies New Gold Bearing Structures at the Sundog Project in Nunavut
Rock chip and grab sampling at the Sundog Gold Project in the Kivalliq Region, Nunavut returned four of eight samples grading above 7.5 g/t Au, including 9.68 g/t Au, 8.69 g/t Au and 8.11 g/t Au from a quartz vein sulfide in 1987 Trench 10, with new gold-bearing quartz veins identified adjacent to Trenches 10 and 29. The samples were collected in September 2023. A summer 2024 field season is planned, including drone magnetics and VLF surveys and a first preliminary drill program, subject to regulatory and Inuit approvals and financing.
Drill resultsProspecting Legend Ken Reading Returns to New Break’s Sundog Gold Project at Age 93
A field team including prospector Ken Reading, Shaun Parent, P. Geo., and a field assistant visited the Sundog Gold Project in the Kivalliq Region, Nunavut, in September 2023, accessing the site by float plane from Thompson, Manitoba, to confirm access, reproduce historical gold assays from a small sample of historical trenches, and sample previously unsampled vein structures. Assay results from the trip are expected imminently, with a technical update planned covering Sundog assay results from 1986 to present and the property's geology.
NewsNew Break Announces Voting Results from 2023 AGM
Shareholders of New Break Resources approved all matters at the annual general meeting held in Toronto on August 24, 2023, with 29,052,820 common shares represented, or 61.07% of outstanding shares as at the July 24, 2023 record date. All five director nominees were re-elected, with Michael Skutezky receiving 98.28% support and the other four receiving 100%. McGovern Hurley LLP was re-appointed as auditor and the stock option plan was re-approved unanimously.
CorporateNew Break Increases Moray Property Position Through Staking and Acquisition
The Moray property land position in Ontario, roughly 49 km south of Timmins, has been expanded to 8,311 hectares from 5,354 hectares through staking and acquisition of about 2,957 hectares in Zavitz Township. Of that, 1,446 hectares were staked from the Ontario Ministry of Mines for $3,350, and 1,511 hectares are being acquired from two arm's length vendors for $10,000 cash and 300,000 common shares, royalty free and subject to CSE approval. New Break was also accepted on July 13, 2023 into the 2023-2024 Ontario Junior Exploration Program.
CorporateNew Break Announces Successful Warrant Exercise Incentive Program
A total of 1,073,850 warrants with a $0.15 exercise price were exercised on or before the June 23, 2023 expiry date under New Break's warrant exercise incentive program, for gross proceeds of $161,077.50. The Company issued 1,073,850 incentive warrants exercisable at $0.20 for three years, subject to acceleration if the shares close at $0.40 or higher for five non-consecutive trading days over a 365-day period. Insiders exercised 198,000 warrants. Proceeds are intended for working capital.
FinancingNew Break Reprices Warrants and Announces Warrant Exercise Incentive Program
The exercise price on 1,730,000 common share purchase warrants expiring June 23, 2023 has been cut from $0.20 to $0.15, effective immediately, giving New Break Resources 6,274,200 outstanding warrants at $0.15 with that same expiry, which is not being extended. All holders of the repriced warrants consented in writing. Holders exercising between June 8 and June 23, 2023 receive one incentive warrant per warrant exercised, at $0.20 for three years, with acceleration if shares close at $0.40 or higher on five non-consecutive trading days over 365 days. Proceeds are earmarked for working capital, subject to CSE approval.
FinancingNew Break Announces Closing of Property Acquisition, Grant of Stock Options and Early Warning Notice
The acquisition of an additional 2,460 hectares of mineral claims contiguous with the Moray property, about 49 km south of Timmins, Ontario, closed on May 23, 2023 for 1,500,000 common shares and aggregate cash payments of $80,000, bringing the land position to approximately 5,354 hectares. Following the flow-through financing, John Ross and Patricia Quigley hold 5,298,800 shares and 187,500 warrants, or 11.47% undiluted. Options for 300,000 shares at $0.10, expiring June 1, 2028, were granted to two consultants.
AcquisitionNew Break Announces Closing of $500,700 Non-Brokered Flow-Through Financing
A non-brokered flow-through private placement closed on May 31, 2023 for proceeds of $500,700, through the issuance of 3,338,000 flow-through common shares at $0.15 per share. Finder's fees of $12,915 and 51,000 finder warrants, exercisable at $0.15 for 24 months, were paid and issued. Funds will primarily support a planned drilling program at the Moray gold project in Ontario, on the Cadillac Larder-Lake Fault Zone about 49 km south of Timmins.
FinancingNew Break Acquires Additional Property at its Moray Project
New Break Resources has agreed to acquire the Beyer Kitchiming Lake gold-copper property from three arm's length vendors, increasing the land position at its Moray project near Timmins, Ontario to 5,354 hectares from 2,894 hectares. Consideration is $80,000 cash plus 1,500,000 escrowed common shares and a 1.5% NSR royalty, 1.0% of which can be bought back for $750,000; closing is subject to CSE approval. Vendor grab samples returned up to 8.92 g/t Au at the KW trench and 8.90 g/t Au at the BB showing.
AcquisitionNew Break Announces Flow-Through Financing to Raise up to $750,000
A non-brokered private placement of up to 5,000,000 flow-through common shares at $0.15 each for gross proceeds of up to $750,000 is planned, with closing anticipated on or about May 31, 2023, subject to Canadian Securities Exchange approval. Proceeds will fund a planned drilling program at the Moray property, about 49 km south of Timmins, Ontario. A finder's fee of 6% of gross proceeds and finder warrants exercisable at $0.15 for 24 months may be payable.
FinancingNew Break Increases Land Position at its Moray Project
The Moray property land position has been increased to 2,894 hectares from 1,856 hectares, located about 49 km south of Timmins, Ontario and 32 km northwest of Alamos Gold's Young-Davidson mine. The additional roughly 1,038 hectares were staked from the Ontario Ministry of Mines for $2,400, are royalty free, and carry no pre-existing area of influence requirement. Historical drilling on the new ground identified anomalous zinc, copper and nickel. The Company plans a drilling program on delineated gold targets.
NewsNew Break Pursuing Young-Davidson Model at its Moray Gold Project
Trenching and stripping at the Moray gold project in northern Ontario between June and October 2022 uncovered an 80-metre-long mineralized section of north-south trending extensional quartz veining in Trench 12 and expanded the mineralized zone hosted in the Fiset syenite at Trench 1. Of 21 grab samples at Trench 12, 18 graded 1.0 g/t Au or higher, up to 70.60 g/t Au, and channel samples included 5.410 g/t Au over 1.00 m. Drill targets have been defined and drilling is planned as soon as possible.
NewsNew Break Engages SmallCap Communications Inc.
SmallCap Communications Inc. of Vancouver, B.C. has been retained to provide social media management and communication services for one year commencing January 20, 2023, including an initial three-month trial period, at a fee of $3,500 per month. SmallCap was granted stock options on up to 200,000 common shares at an exercise price of $0.10 per share, exercisable for five years and vesting 25% each at three, six, nine and twelve months.
Corporate
20223 releases
New Break Announces Closing of Non-Brokered Flow-Through Financing
A non-brokered private placement of 830,000 flow-through common shares at $0.15 each closed for gross proceeds of $124,500, with no broker fees and a four month and one day hold period. Proceeds will fund Canadian Exploration Expenses at the Moray project in Ontario on the Cadillac Larder-Lake Fault Zone, renounced to purchasers effective no later than December 31, 2022. A senior officer took 30,000 shares, about 3.6% of the financing. All directors were re-elected at the December 15, 2022 annual meeting, and 350,000 options were granted at $0.10 expiring December 29, 2027.
FinancingNew Break Identifies High-Grade Gold, up to 70.60 g/t Au, via Grab Sampling at Moray
Grab sampling at the 100%-owned Moray property, 49 km south of Timmins, Ontario, returned up to 70.60 g/t Au from a shear vein at the south end of historical Trench 12 in the Voyager area, with other samples including 37.00, 25.30 and 24.80 g/t Au; five samples exceeded the 21.8 g/t Au high from SGX's 2012 program. Channel sampling returned 2.773 g/t Au over 4.51 m at Voyager and 5.160 g/t Au over 1.10 m on the NOR vein at Fiset. Additional stripping began September 21, 2022, with VLF and 3-D IP surveys planned for Q4 2022 and drilling expected in Q1 2023.
Drill resultsNew Break Discusses Fresh Collaborative Approach to Exploring the Moray Property
2022 exploration programs at the 100%-owned, 1,856-hectare Moray property, 49 km south of Timmins, Ontario, included a 14.88 line-km VLF survey, 46 basal till samples collected June 5-10, roughly 3,800 m² of mechanical stripping, 135 channel samples and 77 rock chip samples, plus structural mapping completed by mid-August 2022. Till sample analysis is expected by end of October 2022, with channel sampling and prospecting assays expected in the coming days. Work is funded in part under the Ontario Junior Exploration Program, reimbursing 50% of eligible expenses to a $200,000 cap.
News