Overview

Moray Gold Project – Overview

The 100% owned Moray property (“Moray”) including the Zavitz gold zone, covers approximately 22,627 hectares of contiguous mineral claims, along with an additional 3,335 hectares of nearby mineral claims within the southern world-class Abitibi greenstone belt, 49 km southeast of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine operated by Alamos Gold Inc. In July and August 2025, New Break completed a 1,502 metre, six-hole maiden drilling program which has resulted in a SIGNIFICANT GOLD DISCOVERY.  Drillhole NBR-25-05 returned 4.11 g/t Au over 31.3 metres and drillhole NBR-25-04 returned 3.35 g/t Au over 14.8 metres.  On October 21, 2025, New Break commenced a phase 2 follow up drilling program expected to be approximately 1,500 metres in five to six additional drillholes.  Assays are expected later in December 2025.

Moray is situated in the world-class Abitibi greenstone belt of northeastern Ontario with the Property having compelling drill intersections of gold mineralization that have never been followed up.  It is accessible by highway and all-weather gravel logging roads south from Timmins or via Hwy 566 west from the town of Matachewan and is within trucking distance to multiple producing mines and mills.

The Young-Davidson Gold Mine, operated by Alamos Gold Inc. ("Alamos"), is located approximately 32 km southeast of Moray. First discovered in 1916, the mine produced one million ounces of gold from 1934 to 1957 from open pit and underground development. Commercial production resumed in 2012. The Young-Davidson Mine produced 195,000 ounces of gold in 2021, 192,200 in 2022, 185,100 in 2023 and 174,000 in 2024. Alamos has forecast 2025 gold production to be 175,000 to 190,000 ounces at total cash costs of US$1,075 - US$1,125 per ounce and all in sustaining costs of US$1,390 to US$1,440 per ounce. 2024 full year cash provided by operating activities was US$227 million, while mine-site free cash flow was US$140.9 million. As at December 31, 2024, the Young-Davidson Mine had NI 43-101 compliant Mineral Reserves of approximately 3.030 million ounces contained in 41.756 million tonnes at an average grade of 2.26 g/t Au at a gold price of US$1,600 per ounce and a cut-off grade of 1.53 g/t Au (Source: www.alamosgold.com Mineral Reserve and Resource Statement dated December 31, 2024). The estimated Mineral Reserves and Mineral Resources are hosted in volcanic rocks and altered syenite.

Moray Phase 2 Drilling Program – Commenced October 23, 2025

 

Core From Drillhole NBR-25-05 – Part of Interval 4.11 g/t Au Over 31.3 Metres