2020

New Break Announces Appointment of New Director and Corporate Update

September 1, 2020

Toronto, Ontario, September 1, 2020 – New Break Resources Ltd. (“New Break” or the “Company”) is extremely pleased to announce that its Board of Directors (the “Board”) has appointed Ms. Ashley Kirwan as a Director of the Company effective immediately.

Ms. Kirwan is a geologist with over 12 years experience in the exploration and mining industry.  She has worked throughout North and South America, including Ontario, Nunavut, Nevada and Equador.  As an Exploration Geologist with Quadra FNX Mining Ltd. (now KGHM Polska Miedz S.A.), Ashley was involved with the advancement of exploration and production assets within the Sudbury Basin in Ontario and subsequently worked as Senior Project Geologist in Nevada with Bridgeport Ventures Inc.  In 2012, Ashley co-founded Orix Geoscience Inc.(“Orix”) where she built Orix from a start-up company to a geological consulting firm recognized for their technical excellence, industry partnerships and workplace culture.  She currently serves as the President, Chief Executive Officer and Principal Geologist at Orix. 

Since 2015, Ashley has been active in public speaking at various mining industry events and conferences.  She is highly respected in the mining industry as both an entrepreneur and an accomplished professional in the field of geology.  At Orix, Ashley leads a team of over 60 geoscientists providing a full cycle of exploration services globally.  Orix’s partnerships include Osisko Mining Inc., Newmont Porcupine, TMAC Resources Inc., operator of the Hope Bay gold property in Nunavut and Exiro Minerals Corp., one of New Break’s largest shareholders.  Ms. Kirwan received both a Bachelor of Science (Honours) and a Master of Science in Geology from Laurentian University.

Michael Farrant, President of New Break commented, “We’re delighted to add Ashley to the Board of New Break.  Despite being a private company, her appointment is one of the many steps that the Company will be taking over the next few months to update its corporate governance to align with current best practices, including increasing diversity and independence on the Board.  Ashley brings with her, a wealth of technical experience including experience specific to our mineral property locations in Ontario and Nunavut.”     

In connection with Ashley’s appointment to the Board and in maintaining the Company’s commitment to best practices in corporate governance, the Board of New Break is pleased to announce the creation of an Audit Committee and the adoption of a formal Audit Committee Charter.  The Audit Committee is comprised of a majority of independent directors, including Ms. Ashley Kirwan and Mr. Thomas Puppendahl, who will serve as the Committee’s Chair.  They are joined by Mr. Nigel Lees, a non-independent director.

The Company is also pleased to announce that McGovern Hurley LLP have been appointed auditors of New Break.  The Company believes that having its annual financial statements audited, is important in maintaining transparency with its shareholders and in being prepared to pursue a public listing in 2021.

About New Break Resources Ltd.

New Break is a private Canadian mineral exploration and development company with a dual vision for value creation.  In northern Ontario, New Break is focused on acquiring highly prospective gold projects in well-established mining camps, within proximity to existing infrastructure, while at the same time, allowing our shareholders to “dream big” through our prospective land holdings in Nunavut, where vast potential exists for exploration success in one of the most up and coming regions in Canada for gold exploration and production.  These complimentary visions are supported by a highly experienced team of mining professionals committed to placing a premium on Environmental, Social and Corporate Governance, respecting the values and interests of all our stakeholders.             

For further information on New Break, please visit www.newbreakresources.ca or contact:

Michael Farrant, President and Director
Tel:  416-278-4149
mfarrant@newbreakresources.ca

No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law.   Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.   Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to comments regarding the timing and expectations for finalizing property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles etc.  Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company’s control.  Accordingly, readers should not place undue reliance on forward-looking information.  The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law.  Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s financial statements and management’s discussion and analysis (the “Filings”), such Filings available upon request.