Great Atlantic 2024 Exploration Program Locates Semi-Massive to Massive Sulfides at its 100% Owned Pilley’s Island Base Metal – Precious Metal Property — Newfoundland

VANCOUVER, British Columbia – May 24 , 2024 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has begun the 2024 exploration program at its 100% owned Pilley’s Island Base Metal – Precious Metal Property, located in north-central Newfoundland.

Semi-massive to massive sulfides in outcrop

Prospecting and rock geochemical sampling are underway in the northern region of the property in the area of the reported Fragmental Zone zinc – lead – copper mineral occurrence. Lenses of semi-massive to massive pyrite were located within bedrock and float / subcrop at one location, with galena (lead sulfide) observed in a few samples. 

The focus of the 2024 program is exploration for base metal and precious metal bearing volcanogenic massive sulfide (VMS) deposits at the Pilley’s Island Property. VMS deposits are reported at the property, including the historic Pilley’s Island Mine (which operated during the 1890s and early 1900s) and the Bull Road showing zinc – lead – copper – silver – antimony mineral occurrence, both located within the northern region of the property (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System).

Great Atlantic collected samples containing high grade zinc plus lead, copper, silver and gold mineralization during 2017 within a trench at the Bull Road Showing including a 1.05 meters long channel sample returning 15.40% zinc, 6.60% lead, 4.66% copper, 111.5 grams / tonne (g/t) silver and 1.005 g/t gold and outcrop grab samples returning up to 40.8% zinc, 20.0% lead, 8.38% copper, 148.1 g/t silver and 2.27 g/t gold (see Company news releases of November 16 and December 14, 2017).

Initial 2024 work in the northern region of the property is focused on the reported area of the Fragmental Zone zinc – lead – copper mineral occurrence (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System). An outcrop with small lenses (up to approximately 0.7 meters long and up to 0.3 meters wide) of semi-massive to massive pyrite were located during the initial work. Galena is evident in one of the lenses. A piece of float or subcrop (approximately 25 x 15 x 15 centimeters) of semi-massive pyrite with galena was located adjacent to this outcrop. Rock samples have been collected at this site and submitted for gold and multi-element analysis. The analytical results are pending for these rock samples. This outcrop is located approximately 150 – 200 meters northwest of the 2017 Bull Road showing trench samples.

The Company is also planning prospecting and rock – soil geochemical sampling during 2024 in other target areas within the Pilley’s Island Property which were identified during previous exploration programs. Areas of planned 2024 work include:

• North – central region of the property in area of 2021 outcrop grab samples which yielded 1.09% zinc and 0.82% lead; and 1.04% zinc and 0.81% lead.
• Southwest region of the property where 2018-2022 reconnaissance work by Great Atlantic identified zinc, copper and gold soil geochemical anomalies and anomalous copper and zinc in rock samples.
• West-central region of the property where 2021 soil sampling identified copper soil geochemical anomalies and anomalous copper in outcrop.

The current and previous exploration programs at the Pilley’s Island Property are / were managed by Qualified Persons. The 2018 – 2022 soil and rock samples referred to in the news release were analyzed at Eastern Analytical Ltd. The samples were assayed for gold by fire assay – AA and analyzed for 34 elements by four acid digestion – ICP-OES. The 2017 Bull Road showing samples referred to in this news release were analyzed at Eastern Analytical Ltd. (gold by Fire Assay – AA; and copper, lead, zinc and silver by multi-acid digestion – AA). Eastern Analytical Ltd. is independent of Great Atlantic.

The Pilley’s Island covers an area of 1,375 hectares. Access to the property is excellent with government-maintained roads. The property is adjacent to tide water and is located within a mining friendly district.

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.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

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