New Break Resources Ltd. reported the results of grab and channel sampling programs conducted from June to August 2022, at its 100% owned Moray property ("Moray") located approximately 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson Gold Mine operated by Alamos Gold Inc. Gold mineralization at Moray occurs in second order structures interpreted as splays off the Cadillac Larder-Lake Fault Zone, part of the famous Abitibi greenstone belt. New Break engaged Orix Geoscience Inc. ("Orix") to oversee the grab and channel sampling programs and complete detailed structural mapping of the Voyager and Fiset areas, which included taking 74 grab samples from various areas of the Moray property, including in and around the historical Trench 12, stripped by SGX Resources Ltd. ("SGX") in 2012 at the Voyager showing ("Trench 12"). The highest- grade grab sample of 70.60 grams per tonne gold ("g/t Au") was located at the south end of the main Trench 12.

Five samples from New Break's program yielded assays higher than the high 21.8 g/t Au assay from the 2012 SGX prospecting and trenching program. In June 2022, New Break engaged CXS Canadian Exploration Services Ltd. ("CXS") out of Larder Lake, Ontario, to complete an initial program of approximately 3,800 m2 of mechanical stripping, principally focused on the Voyager area, including the historical SGX Trench 12 and the Fiset area, including the historical SGX Trench 1 and the NOR vein discovered by Noranda Inc. In addition, while SGX did complete 2,285 m2 of mechanical stripping in a 15-trench program in 2012, SGX did not cut channel samples. As a result, CXS washed both the newly stripped areas and the historical SGX trenches 1 and 2 at Fiset and trench 12 at Voyager which was followed by a 135-sample channel sampling program.

The channel sample areas were marked by New Break personnel and cut by CXS, with the program being completed on July 17, 2022. The shear and extensional/splay veins associated with the Voyager area are hosted in mafic volcanics. The veins are strongly pyritic with local concentrations of up to 20% pyrite.

Structural mapping work completed by Orix observed that the NNE-NE shear vein and the N-S extensional veins have not been traced or tested. It has been determined that drillhole ML12-01, drilled by SGX in 2012 on an azimuth of 45 degrees NE and collared 18 metres SW of the south end of trench 12, was drilled parallel to the strike of the main shear vein. New Break has examined the drill core from ML12-01 and noted that the section from 79.5 to 81.0 metres is strongly pyritic and brecciated with evidence of an earlier fabric in the brecciated fragments.

This section graded 2.47 g/t Au over 1.5 metres and is proximal to the mafic volcanic - syenite contact at 83.4 metres. The mafic volcanic - syenite contact graded 0.494 g/t Au over 12.1 metres from 79.5 to 91.6 metres. New Break has concluded that drillhole ML12-01 likely "clipped" the NNE trending shear vein.

New Break believes that the gold bearing extensional/shear vein development at Trench 12 represents a strongly auriferous gold structure with the high gold assays yet recorded on the Moray property. The vein system at Trench 12 is likely close to the mafic volcanic - syenite contact to the northeast as evidenced by SGX drillhole ML12-01. At present, it is unknown as to whether the shear vein extends into the syenite.

The vein systems are noticeably rich in pyrite and quartz carbonate alteration which should yield good chargeability and resistivity results from the proposed IP survey. The channel results from Fiset Trench 1, which include channel samples taken from the original NOR vein, are generally comparable to grab sample results produced through the SGX prospecting program in 2012. The NOR vein remains untested to the northeast and southwest.

In order to follow up the excellent assay results at the Trench 12 Voyager area, New Break mobilized an excavator to Trench 12 on September 21, 2022, to conduct additional stripping, as the shear vein remains untested to the NNE and to SSW. New Break also plans to conduct an additional Very Low Frequency ("VLF") survey to trace the shear and extensional vein systems with lines spaced perpendicular to the azimuth of the shear vein. Additionally, New Break intends to conduct a 3-D Induced Polarization ("IP") survey of both the Voyager and Fiset areas during Fourth Quarter 2022.

The data from the additional stripping and geophysical surveys in combination with the results expected from 46 till samples taken by IOS Services Geoscientifiques Inc. in June 2022 to analyze gold grains in bedrock, will assist in planning a drilling program, expected to be undertaken in First Quarter 2023.