Mr. Michael Farrant reports

NEW BREAK INCREASES MORAY PROPERTY POSITION THROUGH STAKING AND ACQUISITION

New Break Resources Ltd. has further increased the land position at its Moray property to 8,311 hectares from 5,354 hectares. Moray is located approximately 49 kilometres south of Timmins, Ont., and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Since March 1, 2023, New Break has increased its property position at Moray by 6,455 hectares, through staking and acquisitions (see also news releases dated March 15, 2023, and May 15, 2023).

The new claims cover approximately 2,957 hectares located in Zavitz township, Ontario, including 1,446 hectares which were acquired by New Break at a cost of $3,350 from the Ontario Ministry of Mines when the ground became open for staking. The additional 1,511 hectares are being acquired pursuant to a mining claim acquisition agreement entered into by New Break with two arm's-length individuals (the vendors).

Under the terms of the agreement, the vendors will receive a cash payment of $10,000 and will be issued 300,000 common shares of New Break at closing in exchange for 100-per-cent ownership in the property, which shall also be royalty free. The consideration shares are subject to an escrow arrangement from which 50 per cent of the consideration shares will be released four months and one day following closing and 50 per cent six months from closing. All cash payments and issuances of consideration shares will be split 50 per cent and 50 per cent, corresponding to the respective ownership percentages of the vendors. The acquisition of the property is subject to the approval of the Canadian Securities Exchange.

The newly acquired ground is not subject to any area of influence requirement and is automatically added to ground covered by the Oct. 22, 2021, memorandum of understanding between New Break and the Matachewan and Mattagami First Nations.

In addition, the vendors have agreed to invest a minimum of $20,000 in the next hard dollar private placement conducted by New Break.

Michael Farrant, president and chief executive officer of New Break, stated: "We are extremely happy to have been able to expand our property position at Moray, relatively inexpensively and entirely royalty free. In just over four months, we have expanded Moray by 6,455 hectares, which gives us greater opportunity to evaluate Moray from a camp perspective, building on the exploration advances already made by our technical team. We have already begun identifying new targets and mineralization on the ground acquired in May, 2023." Mr. Farrant also noted: "Our work at Moray in no way diminishes our excitement for our Nunavut properties, in particular the Sundog gold project and Esker claim. However, with a much shorter exploration field season in Nunavut, Moray gives us an excellent project in the prolific Abitibi region of Ontario that hosts both gold and base metal potential, which can be explored all year round. We remain focused on advancing our entire portfolio of projects and believe this is the best strategy for creating value for our shareholders."

Ontario Junior Exploration Program (OJEP) 2023 to 2024

New Break is also extremely pleased to announce that the company received notification on July 13, 2023, from the Ontario Ministry of Mines that New Break has been accepted to participate in the 2023 to 2024 OJEP, which will apply to certain eligible expenses incurred from April 1, 2023, to Feb. 15, 2024. The company expects to confirm the details of its participation in the coming days.

Qualified person

Peter C. Hubacheck, PGeo, consulting geologist to New Break, and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

About New Break Resources Ltd.

New Break is a Canadian mineral exploration company with a dual vision for value creation. In Northern Ontario, New Break is focused on its Moray project, in a well-established mining camp, within proximity to existing infrastructure, while at the same time, through its prospective landholdings in Nunavut, it provides its shareholders with significant exposure to the vast potential for exploration success in one of the most up-and-coming regions in Canada for gold exploration and production. New Break is supported by a highly experienced team of mining professionals committed to placing a premium on environmental, social and corporate governance. Information on New Break is available under the company's profile on SEDAR and on the company's website. New Break began trading on the Canadian Securities Exchange on Sept. 7, 2022, under the symbol NBRK.

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