Great Atlantic’s 2023 Quartz Boulder Samples Return 4.6 and 3.4 G/T Gold in New Target Area at its 100% Owned Golden Promise Gold Property — Central Newfoundland

VANCOUVER, British Columbia March 12 2024 GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analytical results for a portion of its 2023 rock samples collected at its Golden Promise Gold Property, located in the central Newfoundland gold belt. Two samples from a quartz float boulder from a target area in the northern region of the property returned 4.64 and 3.42 grams / tonne (G/T) gold.

The gold bearing quartz vein float boulder is located within a relatively new target area for the Company in the northern region of the Golden Promise Property and west of the gold-bearing Jaclyn Zone (which hosts gold bearing quartz veins / vein systems). This target area was initially identified by Great Atlantic during 2020 reconnaissance prospecting and rock – soil geochemical sampling with rock and soil samples yielding anomalous gold values. The quartz vein boulder was located during 2022 of which a sample from this boulder returned 1.83 G/T gold (see Company News Release of January 18, 2023). Great Atlantic relocated and sampled this boulder during 2023, collecting three samples. Two samples from this boulder returned 4.64 and 3.42 G/T gold. The third sample returned a weakly anomalous value of 10 parts per billion ppb) gold. Another 2023 float sample from this target area consisting of small pieces of shale with quartz veins yielded an anomalous value of 349 ppb gold.

The gold bearing quartz vein boulder is located approximately 2.4 kilometers west of the western part of the Jaclyn Main Zone. The Jaclyn Main Zone is the most advanced of the gold-bearing quartz vein systems at the Jaclyn Zone. Great Atlantic reported a National Instrument 43-101 compliant inferred mineral resource estimate for the Jaclyn Main Zone (119,900 ounces of gold – uncapped) during late 2018 (see the Company’s news release of December 6, 2018).

Great Atlantic is planning additional work during the 2024 field season within this target area consisting of additional prospecting and rock – soil geochemical sampling plus geophysical surveys to identify trenching / drilling targets and locate the bedrock source of the gold bearing boulder.

The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at the Golden Promise Property.

The 2023 rock samples referred to in this news release was analyzed for gold by Eastern Analytical Ltd. by fire assay – AA. The 2022 rock sample referred to in this news release was analyzed by ALS Canada Ltd. for gold by fire assay – AA. Both ALS Canada Ltd. and Eastern Analytical Ltd. are independent of Great Atlantic.

Pre-2017 historic gold results (pre-Great Atlantic work) referred to in this News Release have not been verified for a Qualified Person.

The 2023 exploration program at the Golden Promise Property was managed and supervised by a Qualified Person.

David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors

“Christopher R Anderson”
Mr. Christopher R. Anderson
President CEO Director

604-488-3900 – Office

Investor Relations:
1-416-628-1560
IR@GreatAtlanticResources.com

About Great Atlantic Resources Corp.:

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration firm dedicated to unearthing and developing valuable mineral resources within the prolific and politically stable region of Atlantic Canada, an area renowned as a premier mining destination globally. Presently, Great Atlantic is advancing its growth trajectory by employing a Project Generation model, concentrating particularly on vital minerals that are not only essential to modern industry and technology but are also abundant in Atlantic Canada. These include the traditional and highly valued gold and copper, as well as the indispensable zinc and nickel. Moreover, the company places a strong emphasis on elements that are crucial for various high-tech and green technologies: cobalt, antimony, and tungsten. These commodities play a pivotal role in a range of applications, from batteries and electronics to alloys and military technologies, reflecting Great Atlantic’s strategic focus on minerals that will drive the future of innovation and sustainable development.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4