New Break Awarded $200,000 OJEP Grant in Support of its Moray Gold Project

Executive Summary

• New Break Resources Ltd. received a $200,000 reimbursement from the Ontario Junior Exploration Program (OJEP) for its Moray gold project drilling program.
• The grant is part of a $10 million OJEP investment and brings New Break’s total OJEP funding to $836,224 since 2022.
• Management highlighted that the grant helped avoid approximately 10 million shares of additional dilution and supports ongoing 2026 drilling at Moray.

Key Details

• Grant Program: Ontario Junior Exploration Program (2025‑2026 intake).
• Reimbursement Amount: $200,000 received on March 2 2026, covering 50% of eligible exploration expenditures up to a $200,000 maximum.
• Eligibility Period: Expenditures incurred between April 1 2025 and February 28 2026.
• Project Covered: Moray gold project (100% owned), located ~49 km SE of Timmins, Ontario.
• Drilling Program: Six‑hole, 1,502 m maiden drilling completed in Q3 2025 that led to a significant gold discovery (see Sep 17 2025 release).
• Cumulative OJEP Funding: $836,224 received from 2022‑2025 across five of six OJEP intakes.
• Impact Statement: Management estimates the grant avoided ~10 million shares of dilution and provides additional exploration capital for 2026 drilling.

Notable Quotes

“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…” – Michael Farrant, President & CFO, New Break Resources Ltd.