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

About this update from New Break Resources Ltd.

Toronto, Ontario--(Newsfile Corp. - March 19, 2026) - New Break Resources Ltd. (CSE: NBRK) (FSE: O91) ("New Break" or the "Company") is pleased to announce that its 100% owned Moray gold project, located approximately 49 km southeast of Timmins, Ontario, was selected as one of 68 projects to receive a grant as part of a $10 million investment by the government of Ontario under the 2025-2026 Ontario Junior Exploration Program ("OJEP") announced today in Sudbury by the Ministry of Energy and Mines (the "Ministry"). New Break applied for the 2025-2026 OJEP intake on July 3, 2025, which allowed for a reimbursement of 50% of eligible exploration expenditures incurred from April 1, 2025 to February 28, 2026, up to a maximum reimbursement of $200,000. New Break completed the expenditure requirement during its six-hole, 1,502 metre maiden drilling program in Q3 2025, that resulted in a significant gold discovery (see news release September 17, 2025). On December 10, 2025, New Break received notice from the Ministry that Moray had been approved for funding under this round of OJEP and on March 2, 2026, the Company received a payment of $200,000 in reimbursement of a significant portion of the 2025 discovery drilling program. Today's announcement of the latest investment by the Province of Ontario builds on the $30 million invested in previous rounds of OJEP funding that has helped 213 mining companies finance early exploration projects, including New Break's Moray gold project. Including this year's funding, New Break has received $836,224 in aggregate grants from 2022 to 2025, participating in the last five of a total of six OJEP intakes to date. Michael Farrant, President of New Break commented, "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, while Moray has received $836,224 of additional exploration, including the drilling program that resulted in our 2025 gold discovery. OJEP is part of the Ontario government's plan to build a more competitive, resilient and self-reliant economy, helping junior exploration companies in Ontario find the mines of the future. New Break is proud to be an ...

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