Toronto, Canada, February 22, 2007

Breakwater Resources Ltd. (TSX – BWR) (the “Company”) today announced its December 31,
2006 mineral reserves and mineral resources estimate, prepared in accordance with National
Instrument 43-101 ("NI 43-101").

As shown in the tables below, mineral reserves at the end of 2006 were estimated to total 15.6
million tonnes grading 7.3% zinc resulting in the replacement of the material mined in 2006 plus
a slight (3%) increase year-over-year. Specifically, mineral reserves at Langlois increased by
10%. Measured and indicated resource estimates declined slightly over 2005, primarily due to a
reclassification of indicated resources at the Marshall and Marshall Extension zones at Myra
Falls to inferred. Inferred mineral resources have been estimated to total 13.3 million tonnes,
representing a 59% increase year-over-year. In particular, drilling on the Porvenir deposit at El
Toqui in 2006 has outlined a new inferred mineral resource of 1.6 million tonnes grading 9.6%
zinc and 0.34 g/t gold.

For 2007, the Company plans to spend roughly $27 million on exploration of the Company’s
assets with the main goals of substantially increasing the mineral reserves at Langlois and El
Toqui and the mineral resources (both measured and indicated, and inferred) at El Mochito and
Myra Falls as well as advancing a number of greenfield and brownfields exploration targets.
This expenditure represents a substantial increase from past years and reflects both recent
successes in target identification and a strategic effort to address past underinvestment in
exploration of the Company’s assets.