New Break's Moray to receive grant

Executive Summary

• New Break Resources Ltd. received a $200,000 grant from the Ontario Government’s 2025-2026 Ontario Junior Exploration Program (OJEP) for its Moray gold project.
• The grant reimburses 50% of eligible exploration expenditures incurred between April 1, 2025, and February 28, 2026, specifically covering the company's maiden drilling program.
• This payment brings New Break’s total aggregate OJEP grants from 2022 to 2025 to $836,224, which the company estimates has prevented approximately 10 million shares of additional dilution.

Key Details

• Grant Amount: $200,000 received on March 2, 2026.
• Program: 2025-2026 Ontario Junior Exploration Program (OJEP).
• Reimbursement Terms: 50% reimbursement of eligible exploration expenditures.
• Eligible Period: April 1, 2025, to February 28, 2026.
• Project: Moray gold project, located ~49 km southeast of Timmins, Ontario.
• Underlying Activity: The grant covers the six-hole, 1,502-metre maiden drilling program completed in Q3 2025, which resulted in a significant gold discovery.
• Aggregate Funding: New Break has received $836,224 in total OJEP grants from 2022 to 2025.
• Participation History: New Break has participated in 5 of the 6 total OJEP intakes to date.
• Dilution Impact: Management estimates the grants have avoided approximately 10 million shares of additional dilution.
• Strategic Context: The funding supports the advancement of the Moray discovery, with 2026 drilling currently underway.

Notable Quotes

• Michael Farrant, President: "I would like to offer my sincere thanks to Minister Lecce and to the Ford government for supporting junior mineral exploration in the province of Ontario. In aggregate, we estimate that the company has avoided approximately 10 million shares of additional dilution while Moray has received $836,224 of additional exploration, including the drilling program that resulted in our 2025 gold discovery."