Mr. Christopher Anderson reports

GREAT ATLANTIC RESOURCES COMPLETES 2023 PROGRAM AT ITS 100% OWNED SOUTH QUARRY TUNGSTEN PROPERTY, NEWFOUNDLAND

Great Atlantic Resources Corp. has completed its 2023 exploration program of prospecting and rock geochemical sampling at its 100-per-cent-owned South Quarry tungsten property, located in south-central Newfoundland. The focus of the work was exploration for tungsten and gold and targeted multiple regions of the property. Rock samples from the 2023 program are being prepared for submission to a certified laboratory for analysis, including tungsten and gold. The property hosts high-grade tungsten mineralization, with previous company samples from two quarries exceeding 1 per cent WO3.

The 2023 prospecting and rock geochemical sampling program was conducted in multiple target areas within the South Quarry property, with rock samples collected from five mineral licences. Due to extensive glacial till cover on the property, the prospecting focused on glacially transported float. A total of 85 rock samples were collected during the program, all from float. One area of focus was an area of tungsten soil geochemical anomalies identified by the company during 2022 in the central region of the property (see company news release of Dec. 13, 2022). Approximately 25 per cent of the 2023 rock samples were collected in this new target area. Great Atlantic plans to submit the samples during 2023 to a certified laboratory (independent of Great Atlantic) for gold analysis (by fire assay-AA (atomic absorption)) and multielement analysis (including tungsten).

Tungsten-bearing pegmatite veins occur in bedrock the northern region of the property. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in this area during 2015 (see company news release of Nov. 19, 2015). Eleven quarry rubble grab samples exceeded 5 per cent WO3 (tungsten (W) per cent times 1.26 equals WO3 per cent). A grab sample from a 25-centimetre-wide vein returned 11.94 per cent WO3. A qualified person verified these 2015 sample data and supervised the 2015 sampling. The 2015 samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Canada Ltd. (ALS Canada is independent of Great Atlantic). Tungsten analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with some samples reanalyzed by XRF.

Christopher R. Anderson, president, chief executive officer and director, stated: "Mr. Martin and myself were an integral part of the initial management team that advanced the Sisson tungsten-molybdenum project in New Brunswick, an advanced-stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry tungsten property, although early stage, has the earmarks of being a significant asset for the company. We would be happy to welcome a joint venture partner to assist in advancing the South Quarry tungsten project."

David Martin, PGeo (New Brunswick and Newfoundland and Labrador), a qualified person as defined by National Instrument 43-101 and vice-president of exploration for Great Atlantic, is responsible for the technical information contained in this news release.

About Great Atlantic Resources Corp.

Great Atlantic 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 No. 1 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, cold, copper, zinc, nickel, cobalt, antimony and tungsten.

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