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New Break Announces Appointment of Joshua Bailey to Board of Directors

July 12, 2021

Toronto, Ontario, July 12, 2021 – New Break Resources Ltd. (“New Break” or the “Company”) is extremely pleased to announce that its Board of Directors (the “Board”) has appointed Mr. Joshua Bailey as a Director of the Company effective July 6, 2021.

Mr. Bailey is a professional geologist with over 20 years’ experience in the exploration and mining industry, with a focus on mineral exploration, corporate development, and investor relations. He currently serves as Chief Operating Officer and Director of Exiro Minerals Corp. (“Exiro”), an innovative private mineral exploration company and one of New Break’s largest shareholders, where he leads a robust and talented technical team. Prior to that, Mr. Bailey spent 13 years at Wallbridge Mining Company Limited, serving as Vice President Exploration where he played a key role in the acquisition and early exploration of the Fenelon gold project in Quebec. He has identified and evaluated hundreds of M&A opportunities, including negotiating, managing and operating several dozen property option, joint venture and royalty agreements and securing funding to advance mineral exploration on those projects. Joshua also played a significant role in New Break’s recently announced oversubscribed financing, in which he participated and was responsible for raising gross proceeds of over $300,000 from a number of new investors.

Mr. Bailey is a passionate supporter of mineral exploration and the mining industry in general. He currently serves as a director and Chair of the Ontario Prospectors Association, having been past president and a director since 2011. Mr. Bailey received a Bachelor of Science (Honours) in geology from Memorial University, Masters of Science in geology from Laurentian University, and an MBA from Athabasca University.

As New Break moves closer to a public listing, it is best practice to transition towards a Board of Directors comprised of a majority of independent members. In order to accommodate this, Mr. William Love graciously stepped down from the Board of Directors, enabling him to focus 100% of his efforts as New Break’s Vice President, Exploration.

Michael Farrant, President of New Break commented, “We’re delighted to add Joshua to the Board of New Break. This is an extremely important step towards establishing a Board comprised of a majority of independent directors. With Bill Love stepping off to focus solely on management responsibilities, this now gives management access to two independent directors in Joshua Bailey and Ashley Kirwan, both of whom have significant geological and project evaluation expertise, to independently evaluate management’s recommendations with respect to property exploration plans, project evaluation and potential property acquisitions. These changes make New Break a stronger Company with greater technical depth and stronger corporate governance.”

William Love, Vice President, Exploration of New Break noted, “I’m extremely excited to see the addition of another highly skilled technical professional to the Board and look forward to advancing the Company through a strategic collaboration of ideas and technical discussion related to advancing New Break’s current mineral property portfolio and adding new, highly prospective projects.”

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 or contact:

Michael Farrant, President and Director
Tel: 416-278-4149

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

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.

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