Mr. Christopher Anderson reports

GREAT ATLANTIC'S 2023 QUARTZ BOULDER SAMPLES RETURN 4.6 AND 3.4 G/T GOLD IN NEW TARGET AREA AT ITS 100% OWNED GOLDEN PROMISE GOLD PROPERTY CENTRAL NEWFOUNDLAND

Great Atlantic Resources Corp. has received analytical results for a portion of its 2023 rock samples collected at its Golden Promise gold property, located in the central Newfoundland gold belt. Two samples from a quartz float boulder from a target area in the northern region of the property returned 4.64 grams per tonne and 3.42 g/t gold.

The gold-bearing quartz vein float boulder is located within a relatively new target area for the company in the northern region of the Golden Promise property and west of the gold-bearing Jaclyn zone (which hosts gold-bearing quartz veins/vein systems). This target area was initially identified by Great Atlantic during 2020 reconnaissance prospecting and rock/soil geochemical sampling, with rock and soil samples yielding anomalous gold values. The quartz vein boulder was located during 2022, of which a sample from this boulder returned 1.83 g/t gold (see company news release of Jan. 18, 2023). Great Atlantic relocated and sampled this boulder during 2023, collecting three samples. Two samples from this boulder returned 4.64 g/t and 3.42 g/t gold. The third sample returned a weakly anomalous value of 10 parts per billion (ppb) gold. Another 2023 float sample from this target area consisting of small pieces of shale with quartz veins yielded an anomalous value of 349 ppb gold.

The gold-bearing quartz vein boulder is located approximately 2.4 kilometres west of the western part of the Jaclyn Main zone. The Jaclyn Main zone is the most advanced of the gold-bearing quartz vein systems at the Jaclyn zone. Great Atlantic reported a National Instrument 43-101-compliant inferred mineral resource estimate for the Jaclyn Main zone (119,900 ounces of gold -- uncapped) during late 2018 (see the company's news release of Dec. 6, 2018). Great Atlantic is planning additional work during the 2024 field season within this target area, consisting of additional prospecting and rock/soil geochemical sampling, plus geophysical surveys to identify trenching/drilling targets and locate the bedrock source of the gold-bearing boulder.

The Golden Promise property is located within the Exploits subzone of the Newfoundland Dunnage zone. Significant gold discoveries within the Exploits subzone include those of Marathon Gold Corp. at the Valentine gold project, Sokoman Minerals Corp. at the Moosehead gold project and New Found Gold Corp. at the Queensway project. Readers are warned that mineralization at the Valentine gold project, Moosehead gold project and Queensway project are not necessarily indicative of mineralization at the Golden Promise property.

The 2023 rock samples referred to in this news release were analyzed for gold by Eastern Analytical Ltd. by fire assay/AA (atomic absorption). The 2022 rock sample referred to in this news release was analyzed by ALS Canada Ltd. for gold by fire assay/AA. Both ALS Canada and Eastern Analytical are independent of Great Atlantic.

Pre-2017 historic gold results (pre-Great Atlantic work) referred to in this news release have not been verified by a qualified person. The 2023 exploration program at the Golden Promise property was managed and supervised by a qualified person. 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.

About Great Atlantic Resources is a Canadian exploration firm dedicated to unearthing and developing valuable mineral resources within the prolific and politically stable region of Atlantic Canada, an area renowned as a premier mining destination globally. Presently, Great Atlantic is advancing its growth trajectory by employing a project generation model, concentrating particularly on vital minerals that are not only essential to modern industry and technology, but are also abundant in Atlantic Canada. These include the traditional and highly valued gold and copper, as well as the indispensable zinc and nickel. Moreover, the company places a strong emphasis on elements that are crucial for various high-tech and green technologies: cobalt, antimony and tungsten. These commodities play a pivotal role in a range of applications, from batteries and electronics to alloys and military technologies, reflecting Great Atlantic's strategic focus on minerals that will drive the future of innovation and sustainable development.

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