Great Atlantic Receives Additional Permit Diamond Drilling Approval for up to 33 Holes for the Jaclyn Zone at its 100% Owned Golden Promise Property - Central Newfoundland

Published: 2025-05-29 10:14:06 ET CXB.TO

Published on 05/29/2025 at 10:14

VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the 'Company' or 'Great Atlantic') is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has received approval from the Newfoundland and Labrador government for diamond drilling at the Golden Promise Property.

The drilling approval is for up to 33 drill holes (approximately 8,000 meters) at the Jaclyn Zone.

Golden Promise Mines property contains multiple gold bearing quartz veins / vein systems with high grade gold. Company drilling between 2019-2024 resulted in multiple drill intercepts exceeded 1 ounce gold / tonne.

The drilling approval allows for drill holes testing the central to east regions of the JMZ in an area of less previous diamond drilling. The objective of this planned drilling is to increase the JMZ's inferred resources. Following completion of this drilling Great Atlantic plans to generate an updated NI 43-101 technical report and resource estimate.

The drilling approval allows for drill holes testing for gold bearing quartz veins immediately north of the JMZ along an apparent northeast striking structural zone (based on aeromagnetic geophysical data) which connects with the JMZ.

The drilling approval allows for drill holes in the eastern region of the JNZ and east-northeast of the JNZ. Diamond drilling by Great Atlantic during 2020 and 2021 indicated the JNZ gold bearing vein system to be open to the east-northeast. The two eastern-most 2020 and 2021 drill holes intersected gold bearing veins including 30.6 g/t gold over 0.41 meters core length in drill hole GP-21-156.

Rock samples collected during 2017 and 2020 in the area of drill hole GP-21-156 from multiple gold-bearing quartz boulders yielded high grade gold values including samples returning 157 g/t, 162 g/t, 208 g/t and 332 g/t gold. These samples are located within a 300-meters long zone of gold-bearing quartz vein boulders.

The Golden Promise Property is the largest and most advanced of six central Newfoundland gold properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone. One of these properties (Golden Trust) is located within one kilometer 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 or any of the other central Newfoundland gold properties of Golden Promise Mines Inc.

Contact:

Mr. Christopher R. Anderson

President CEO Director

Tel: 604-488-3900

Tel: 1-416-628-1560

Email: [email protected]

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.