05:00:16 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



New Break Resources Ltd
Symbol NBRK
Shares Issued 57,428,600
Close 2025-04-10 C$ 0.07
Market Cap C$ 4,020,002
Recent Sedar Documents

New Break firms up deal for Sundog sale to Guardian

2025-04-10 18:27 ET - News Release

Mr. Michael Farrant reports

NEW BREAK SIGNS DEFINITIVE AGREEMENT TO SELL THE SUNDOG GOLD PROJECT IN KIVALLIQ, NUNAVUT

New Break Resources Ltd. has signed a definitive agreement with Guardian Exploration Inc. for the sale of New Break's 100-per-cent interest in the mineral rights and exploration data associated with the 9,415-hectare Sundog gold project located in Kivalliq region, Nunavut, held pursuant to an Inuit-owned land mineral exploration agreement, and 60 drums (12,300 litres) of JetA fuel located in Arviat, Nunavut, to Guardian, originally announced on Dec. 9, 2024.

In consideration for assignment of the MEA to Guardian and sale of the fuel and Sundog exploration data, upon closing, Guardian will make a cash payment to New Break of $75,000 and issue to New Break five million common shares of Guardian. Guardian will assume responsibility for the obligations under the MEA including the annual exploration expenditure requirements and annual rent payments due to Nunavut Tunngavik Inc. In addition, Guardian will pay $18,830 to New Break as reimbursement for the 2024-2025 annual rent paid to NTI by New Break in December, 2024. New Break will continue to hold a 20-per-cent undivided interest in the Sundog project, carried through to a construction decision.

The purchase and sale of the acquired assets is an arm's-length transaction under the policies of the TSX Venture Exchange. Completion of the transaction, including the issuance of the consideration shares, is subject to approval from the exchange, NTI, and the boards of Guardian and New Break, as well as other conditions usual to a transaction of this nature. The transaction is expected to close no later than April 30, 2025.

About New Break Resources Ltd.

New Break is a proudly Canadian mineral exploration company focused on its Moray gold project located 49 kilometres south of Timmins, Ont., in a well-established mining camp within proximity to existing infrastructure, 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. In addition, shareholders remain leveraged to exploration success in Nunavut, one of the most up-and-coming regions in Canada for gold exploration and production through New Break's 20-per-cent carried interest in the Sundog gold project. The company is supported by a highly experienced team of mining professionals.

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