Mr. Christopher Anderson reports

GREAT ATLANTIC RESOURCES ADVANCES TO BULK SAMPLE USING NOVAMERA'S SURGICAL MINING TECHNOLOGIES AT JACLYN MAIN ZONE AT ITS 100% OWNED GOLDEN PROMISE PROPERTY, NEWFOUNDLAND

Great Atlantic Resources Corp.'s wholly owned subsidiary, Golden Promise Mines Inc. (GPM), a gold development company that wholly owns several projects in central Newfoundland, is planning a bulk sample at the Jaclyn Main zone deposit for Q4 2024 in partnership with Novamera Inc.

The project contains a National Instrument 43-101 compliant mineral resource estimate of 119,900 inferred ounces at 10.4 grams per tonne gold (see the company's news release dated Dec. 6, 2018). To extract the approximately 2,700-tonne bulk sample, Great Atlantic will use a precision mining method, powered by Novamera's proprietary surgical mining technologies. The bulk sample will provide mining and metallurgical data to inform future economic and technical studies to advance the project to a production decision. The sample is being financed in part by co-investment from Digital, Canada's global innovation cluster for digital technologies, as part of a larger project that aims to support data-driven and digital solutions within the mining sector.

Benefits of surgical mining

Surgical mining is an economic option for bringing steeply dipping narrow vein deposits into production, like the Jaclyn Main zone. The innovative solution is a lower-capex (capital expenditure) and faster path to production while also radically reducing environmental and social impact. Given the minimal upfront development costs, surgical mining enables junior mining companies to get into production and generate cash flow, offering a second source of cash and relying less on the capital markets to finance strategic plans. In addition, the time to permits can be reduced because of the small footprint and scale of the operation.

"Situated in one of Newfoundland's most prolific gold belts, we're eager to advance our bulk sample program at the Jaclyn Main zone, pioneering the use of this innovative and transformative mining technology in Canada," said Chris Anderson, chief executive officer of Great Atlantic Resources. "We're excited to partner with Novamera to showcase the potential of low-impact mining in our country."

"We're excited to be working with Great Atlantic to demonstrate the potential for surgical mining to unlock new mining opportunities. The bulk sample in partnership with Great Atlantic will be key to showing how surgical mining can economically support the increased production of minerals and metals and meet growing global demand quickly and sustainably," says Dustin Angelo, chief executive officer of Novamera.

Jaclyn Main zone

The Jaclyn Main zone (or the project) is part of the Golden Promise gold property owned by Great Atlantic's subsidiary, GPM. The property is located within the Central Newfoundland gold belt, near the town of Badger. Multiple gold-bearing quartz veins/quartz vein systems and zones of gold-bearing quartz boulders are reported within the property. One such quartz vein system is the Jaclyn Main zone. Great Atlantic reported a National Instrument 43-101 compliant mineral resource estimate for the project during December, 2018 (119,900-ounce-gold inferred resource). Multiple 2017 Great Atlantic quartz samples from different regions of the property exceeded one ounce per tonne gold. Diamond drilling in 2019 and 2021 tested a section of the project, with high-grade gold intersected in multiple holes, including core length intersections of:

• 61.35 grams per tonne gold over 2.04 metres;
• 15.80 grams per tonne gold over 2.70 metres;
• 113.07 grams per tonne gold over 0.55 metre;
• 2.30 grams per tonne gold over 25.25 metres;
• 56.85 grams per tonne gold over 0.75 metre.

About Great Atlantic Resources Corp.

Great Atlantic Resources 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 -- gold, copper, zinc, nickel, cobalt, antimony and tungsten.

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

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