Great Atlantic Confirms New Antimony Discovery 1.56% Antimony at its 100% Owned McDougall Road Antimony–Gold Property – New Brunswick

VANCOUVER, British Columbia – May 16 2024 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analytical results for rock samples collected during 2023 at its 100% owned McDougall Road Antimony – Gold Property, located in western New Brunswick.

Site of 1.56% Antimony Rock Sample (outcrop grab sample)

The analytical results confirm antimony mineralization in an outcrop within the area of a reported regional fault zone. A grab sample from this outcrop exposure returned 1.56% antimony, representing a new discovery for the Company. Great Atlantic previously identified antimony and gold soil geochemical anomalies in this region of the property.

The antimony bearing outcrop exposure was located during 2023 within the central region of the McDougall Road Property in the reported area of the Woodstock Fault (a regional structure in western New Brunswick). The outcrop exposure contains stibnite (antimony sulfide) mineralization. Sample 6308-23-08 (outcrop grab sample) returned 1.56% antimony. This outcrop is highly siliceous and possibly silicified (lithology unknown at this time) with highly oxidized and crumbly parts (possible fault). The outcrop also contains pyrite mineralization. A second 2023 grab sample from this outcrop returned a highly anomalous antimony value of 2,250 parts per million (ppm).

Antimony mineralization was reported during the late 1990s in the central region of the McDougall Road Property in the area of the Woodstock Fault. A late 1990s vein sample from this area was reported to yield 11.6% antimony (after Hoy, 1998; Report of Work No. 475212 on file with the New Brunswick Department of Natural Resources and Energy Development). A qualified Person has not verified this reported vein / data for Great Atlantic. Although in the same area as the reported 1990s vein discovery, Great Atlantic management are interpreting the 2023 antimony discovery as being a separate discovery as it does not appear to be a distinct single vein.

Rock samples from the 2023 program were analyzed by ALS Canada Ltd. for gold by fire assay – AA and for 34 elements (including antimony) by four acid digestion and ICP-AES analysis. Sample 6308-23-08 exceeded the upper 10,000 ppm analytical limit for antimony by this method. The sample was re-analyzed for antimony by XRF (following lithium borate fusion) with the result being 1.56% antimony. ALS Canada Ltd. is independent of Great Atlantic. A Qualified Person supervised the 2023 exploration program at the McDougall Road Property.

Great Atlantic identified local antimony and gold soil geochemical anomalies in the central region of the McDougall Road Property during a 2015 geochemical survey with samples returning up to 62 ppm antimony and up to 0.033 ppm gold. The samples were analyzed by ALS Canada Ltd. for gold by Fire Assay – AA and for antimony by four acid digestion and ICP-MS analysis. The 2015 program was supervised by a Qualified Person.

The Golden Ridge gold deposit is located approximately 13 km southwest of the McDougall Road Property in the area of the Woodstock Fault. Readers are warned that mineralization at the Golden Ridge deposit is not necessarily indicative of mineralization within the McDougall Road Project.

The MacDougall Road Property, totalling approximately 330 hectares, occurs within an under-explored area of western New Brunswick. There are no reports of diamond drilling within the project area as per compilation by Great Atlantic management of historic exploration data for the project area.  

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