15:54:13 EDT Sat 18 May 2024
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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 50,125,666
Close 2024-05-01 C$ 0.065
Market Cap C$ 3,258,168
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Great Atlantic begins 2024 exploration at Glenelg

2024-05-02 10:41 ET - News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC COMMENCES 2024 EXPLORATION PROGRAM GLENELG VANADIUM - GOLD - ANTIMONY PROPERTY

Great Atlantic Resources Corp. has begun the 2024 exploration program at its Glenelg vanadium-gold-antimony property, located in southwest New Brunswick. Prospecting and rock geochemical sampling are being conducted and planned at select target areas based on 2022-2023 Great Atlantic work, including:

Johnson Lake gold - silver occurrence (2023 rock sample returned 0.501 g/t gold).

Antimony bearing vein - 2022 discovery with high grade antimony (2022 & 2023 rock samples included 23.4%, 13.70% & 13.75% antimony). Areas of 2023 rock samples anomalous for lithium.

Location of 2023 0.501 grams / tonne (g/) Gold Rock Sample

The Johnson Lake gold - silver mineral occurrence is reported in the south - central region of the Glenelg Property (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database, Reference No. 1304). Great Atlantic confirmed highly anomalous levels of gold during 2023 in an outcrop in this area with a sample returning 0.501 g/t gold (see Company news release of November 30, 2023). This 2023 grab sample was collected from an altered, pyrite bearing outcrop. Great Atlantic is currently conducting prospecting and rock geochemical sampling in this area.

Prospecting and rock geochemical sampling are also planned for 2024 within the south - central region of the property is the area of an antimony bearing vein (quartz-carbonate-stibnite) discovered during 2022. The vein occurs in a highway-cut bedrock exposure. Massive stibnite (antimony sulfide) occurs locally within the vein at the exposure. An initial 2022 grab sample (1.83 kilograms sample weight) returned a high-grade antimony value of 23.4% (see Company news release of August 16, 2022). The northwest striking and steeply dipping vein is up to 0.6 meters wide where the 2022 grab sample was collected. Four samples were collected from the same section of the vein during 2023 (within an approximately 0.6 meters by 0.4 meters area) including two samples returning high grade antimony values of 13.75% (6.36 kilograms sample weight) and 13.70% (4.94 kilograms sample weight). Prospecting and rock geochemical sampling are also planned during 2024 in the north-central region of the Glenelg Property in the area of 2023 rock samples that contain anomalous levels of lithium (see Company news release of March 14, 2024). Samples collected during 2024 will be submitted to an independent, certified laboratory for gold and multi-element analysis.

Antimony (stibnite) bearing vein at Glenelg Property

Gold analysis of the 2023 rock sample discussed in this news release was by fire assay - AA while antimony analysis of 2022 and 2023 rock samples discussed in this news release was by XRF (following lithium borate fusion). The 2023 rock samples yielding anomalous lithium values were analyzed by four acid digestion - ICP-AES analysis. ALS Canada Ltd., a certified laboratory independent of Great Atlantic, conducted the analysis of the 2022-2023 rock samples.

The 2022-2023 exploration programs at the Glenelg Property were supervised by a Qualified Person while the 2024 exploration program is being supervised by a Qualified Person. Part of the northern boundary of the Glenelg Property borders the Clarence Stream Project of Galway Metals Inc. Galway reported a NI 43-101 resource estimate for the project during 2022, reporting total Indicated resources of 12,396,000 tonnes at 2.31 g/t gold (contained 922,000 ounces of gold and 9,605 tonnes of antimony) and total Inferred resources of 15,963,000 tonnes at 2.60 g/t gold (contained 1,334,000 ounces of gold and 2,145 tonnes of antimony). Readers are warned that mineralization at the Clarence Stream Project is not necessarily indicative of mineralization within the Glenelg Property.

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.

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.

We seek Safe Harbor.

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