Golden Promise Mines Begins 2024 Exploration Program at its 100% Owned Golden Promise Gold Property — Central Newfoundland

VANCOUVER, British Columbia – May 13, 2024 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce that it’s wholly owned subsidiary Golden Promise Mines Inc. has begun the 2024 exploration program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. Exploration is underway and planned for multiple target areas to define trenching and diamond drilling targets.

Prospecting and rock / soil geochemical sampling are currently underway in two target areas within the southern region of the Golden Promise Property. Geophysics surveys are also planned this month in these target areas.

One area of current prospecting and rock – soil geochemical sampling is within the southwest region of the property in an area of gold soil geochemical anomalies and rock samples anomalous for gold as identified by Great Atlantic during 2018 to 2023 programs. This area of anomalous samples is approximately 4.5 kilometers to the northeast of the gold bearing Linda / Snow White quartz vein system. A number of anomalous gold values have been obtained from 2018-2023 rock and soil samples within this area including rock samples that yielded 1.04 grams / tonne (g/t) gold (collected in 2018), 0.57 g/t gold (collected in 2020) and 0.44 g/t gold (collected in 2023) and soil samples yielding up to 77 parts per billion (ppb) gold. Great Atlantic has received approval for diamond drilling (up to five drill holes) and excavator trenching (up to three trenches) for the area of these anomalous samples.

Prospecting, and rock / soil geochemical sampling is also underway in the southern region of the property approximately 1 kilometer to the northeast of the Gabbro Zone gold occurrence. The work in being conducted in an area of reported magnetic and electromagnetic anomalies. Historic gold soil anomalies are reported in this target area although Great Atlantic has not verified such gold soil anomalies to date. Great Atlantic has approval for up to five excavator trenches within this target area. Great Atlantic confirmed gold mineralization at the Gabbro Zone Gold Occurrence during 2019 including grab samples of quartz veins cutting gabbro returning 0.80 g/t and 1.11 g/t gold.

Golden Promise Mines Inc. is planning prospecting, rock – soil geochemical samples and geophysical surveys during 2024 is other target areas within the Golden Promise Mines Inc.

The Golden Promise Property hosts gold bearing quartz veins in various regions of the property including the Jaclyn Zone, Shawn’s Shot vein, Otter Brook showing, Linda / Snow White quartz vein system and the Gabbro Zone occurrence. Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped).

The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. The Golden Promise Mine Properties begin one kilometer north of the Valentine Gold Mine of Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) which is also located within the Exploits Subzone. Readers are warned that mineralization at the Valentine Gold Mine is not necessarily indicative of mineralization at the Golden Promise Property.

Please see the Company’s website for news releases reporting previous work on the Golden Promise Property. Previous 2017-2023 programs at Golden Promise were 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.: 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