New Break acquires additional mineral claims at Moray

Executive Summary

• New Break Resources Ltd. has entered into an agreement to acquire approximately 1,107 hectares of mineral claims contiguous to its main Moray Gold Project in Ontario, significantly expanding its property position.
• The acquisition involves 13 single-cell and one multicell claim in Zavitz, English, Semple, and Bartlett townships (approx. 324 hectares) and 38 single-cell claims in Fripp township (approx. 783 hectares).
• The transaction is structured as a cash payment of $5,000 and the issuance of 125,000 common shares, subject to an escrow arrangement and approval by the Canadian Securities Exchange.

Key Details

• Total Area Acquired: Approximately 1,107 hectares (324 hectares in Zavitz/English/Semple/Bartlett townships + 783 hectares in Fripp township).
• Location: Contiguous with New Break's main Moray property, located approximately 49 km southeast of Timmins, Ontario.
• Counterparty: An arm's-length individual vendor.
• Consideration:
  • Cash: $5,000.
  • Equity: 125,000 common shares of New Break Resources Ltd.
  • Ownership: 100% ownership of the acquired claims transferred to New Break.
  • Royalty Status: Royalty-free.
• Escrow Terms:
  • 50% of consideration shares released 4 months and 1 day following closing.
  • 50% of consideration shares released 6 months following closing.
• Regulatory Condition: Subject to approval of the Canadian Securities Exchange.
• Historical Data (English Township): 1990 grab samples by G.S.W. Bruce returned assay values up to 3.50 g/t Au.
• Historical Data (Semple Township): 1998 drilling by Tri Origin Exploration Ltd. on the multicell claim intersected 2.50 g/t Au over 3.0 metres (138.0m to 141.0m), including a high-grade interval of 6.38 g/t Au over 1.0 metre (138.0m to 139.0m) in drill hole TE-98-08.
• Other Historical Data: Several claims in Bartlett and Fripp townships have historical copper showings.
• Qualified Person: Peter C. Hubacheck, PGeo, consulting geologist, has reviewed and approved the technical disclosure.

Notable Quotes

• No direct quotes from management were included in the provided text.