Overview

Moray Gold Project – Overview

The 100% owned Moray property (“Moray”) including the Zavitz gold zone, covers approximately 23,058 hectares of contiguous mineral claims, along with an additional 4,196 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-25-04 returned 1.04 g/t Au over 86.7 metres and drillhole NBR-25-05 returned 3.17 g/t Au over 43.0 metres.  From late October to early December 2025, New Break drilled an additional 1,422 metres in an additional six drillholes.  Drillhole NBR-25-09 returned 1.57 g/t Au over 70.7 metres and drillhole NBR-25-10 returned 2.00 g/t Au over 38.0 metres.  In total, 2,924 metres were drilled in 12 drillholes with 8 of those focused in the Zavitz gold zone in mafic volcanics immediately west of a large syenite intrusive.  New Break has begun the first phase of a planned 10,000 metres of additional drilling in 2026.  The initial 2,500 metres will look to extend the known mineralization in the Zavitz zone, both to the north and to the south-southeast, and will also test high priority targets in both the mafic volcanics on the northeastern edge of the syenite intrusive and a target in felsic volcanics along the Galer Lake fault, believed to be a Hemlo style target.  This initial phase of 2026 drilling is expected to last approximately two months.

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 899,700 ounces of gold from 2021 to 2025, including 153,400 in 2025. Alamos had 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