Mr. Christopher Anderson reports

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

Great Atlantic Resources Corp.'s 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 metres) at the Jaclyn zone.

The drilling approval allows for diamond drilling (up to 33 drill holes) in the areas of the gold-bearing Jaclyn Main zone (JNZ); the gold-bearing Jaclyn North zone (JNZ); a target immediately north of the JMZ; and the area east-northeast of the JNZ. The company is planning diamond drilling during 2025-2026 under this approval. The drilling approval expires on April 4, 2027.

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 National Instrument 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 easternmost 2020 and 2021 drill holes intersected gold-bearing veins including 30.6 g/t gold over 0.41 metre core length in drill hole GP-21-156 (see the company's news release of April 12, 2022).

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 grams per tonne, 162 g/t, 208 g/t and 332 g/t gold (see company news releases). These samples are located within a 300-metre-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 kilometre of the Valentine gold mine of Calibre Mining Corp., 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.

David Martin, PGeo (New Brunswick and Newfoundland and Labrador), a qualified person as defined by National Instrument 43-101, vice-president, exploration, for Great Atlantic, approved 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: gold, copper, zinc, nickel, cobalt, antimony and tungsten.

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