Mr. Chris Taylor reports

GREAT BEAR DRILLS NEW "GAP" ZONE: 16.80 G/T GOLD OVER 4.15 M AND 1.25 G/T GOLD OVER 45.50 M; AURO ZONE DRILLING INTERSECTS 241.88 G/T GOLD OVER 1.20 M WITHIN 48.67 G/T GOLD OVER 8.70 M

Great Bear Resources Ltd. has released new results from its fully financed 200,000-metre drill program at its 100-per-cent-owned Dixie project in the Red Lake district of Ontario. Results are from the following zones along the LP fault target: Gap (new), Auro and Bear-Rimini. Highlights of recent results include:

• 16.80 grams per tonne (g/t) gold over 4.15 metres (from 55.00 to 59.15 metres) and a separate interval of 1.25 g/t gold over 45.50 metres (from 125.25 to 170.80 metres) in the new Gap zone, located between the Bear-Rimini and Yuma zones;
• 48.67 g/t gold over 8.70 metres (from 251.60 to 260.30 metres), including 241.88 g/t gold over 1.20 metres in the Auro zone;
• 1.13 g/t gold over 41.80 metres (from 217.70 to 259.50 metres), which includes 6.69 g/t gold over 3.50 metres, and 1.13 g/t gold over 37.95 metres (from 264.60 to 302.55 metres) in the Bear-Rimini zone.

Chris Taylor, president and chief executive officer of Great Bear, said: "With the discovery of high-grade gold mineralization in the new Gap area, the last significant undrilled segment of the LP fault between the Bear-Rimini and Viggo zones is being successfully filled. Remarkably, all (100 per cent) of the drill holes completed into the LP fault structure to date have intersected similar gold mineralization and host geology. Results continue to support continuity of gold mineralization along more than four kilometres, which remains open along strike and at depth. Our drilling strategy for 2020 is threefold: 1) We plan to continue the discovery process through drill testing of new targets across the project, 2) we plan to continue significant step-out drilling over 12 kilometres of the 18-kilometre LP fault and 3) we will undertake concurrent closely spaced drilling in areas where we have already successfully intersected gold."

The company also announces that details regarding a previously announced 2-per-cent net smelter royalty (NSR) spinout to its shareholders will be provided in January, 2020.

The new Gap zone:

• Discovery hole BR-075 was completed between the Bear-Rimini and Yuma zones within an approximately one-kilometre-long previously undrilled gap (the Gap zone) in drilling and intersected 16.80 g/t gold over 4.15 metres and 1.25 g/t gold over 45.5 metres. Gold was hosted by on-strike extensions of the felsic volcanic geology and quartz-sericite-albite alteration seen in the adjacent zones.
• BR-075 is located on a 200-metre stepout to the northwest from the nearest drilling in the Yuma zone and a 750-metre stepout to the southeast from the nearest drilling with results in the Bear-Rimini zone. As this hole was collared within the LP fault zone and drilled to the southwest, the northern boundary of the LP fault zone has not yet been intersected and additional drilling will be required to determine the overall thickness of gold mineralization in this area.
• The Gap zone is situated in what was the only remaining significant (approximately one kilometre) undrilled segment of the four kilometres of the LP fault tested to date. While separate zone names are provided by Great Bear for communication purposes, results to date suggest gold mineralization and host geology are continuous along the four kilometres of the LP fault drilled thus far.
• Drill hole BR-074 was drilled on the same section as discovery hole BR-075, but was located too close to the southern margin of the LP fault zone and intersected only the wide lower-grade gold mineralization typical of the zone's margins, assaying 0.36 g/t gold over 40.40 metres.

Auro zone results:

• One of the best holes drilled to date at the Dixie project has been completed in the Auro zone. Drill hole BR-065 assayed 48.67 g/t gold over 8.70 metres, including 241.88 g/t gold over 1.20 metres.
• BR-065 is located 188 metres to the southeast of Auro zone drill hole BR-020, which yielded 10.65 g/t gold over 17.25 metres (m) within a wider interval of 5.28 g/t gold over 42.0 metres, as originally reported on Sept. 3, 2019, and 155 metres updip of the mineralized interval of drill hole BR-022 which assayed 14.9 g/t gold over 3.55 metres.
• Once again, Great Bear's field crews have found favourable alteration, geology, mineralization and visible gold undocumented and unassayed in historical drill core from the LP fault zone, this time in drill hole DL-2006-01 from the Auro area. Drill core had been cross piled in storage on the property for 13 years.

Bear-Rimini zone results:

• Drill holes BR-041 and BR-042 were completed within the Bear-Rimini zone. Mineralized intervals were intersected 200 metres and 75 metres, respectively, vertically above the mineralized interval in drill hole BR-043, which intersected 125.4 metres of 1.08 g/t gold as was originally reported by the company on Oct. 10, 2019.
• Drill hole BR-042 intersected 1.13 g/t gold over 41.80 metres, including 6.69 g/t gold over 3.50 metres, and a second interval (separated from the previous interval by a 5.10-metre unmineralized gap) of 1.13 g/t gold over 37.95 metres.
• Drill hole BR-041 intersected a number of zones -- 0.66 g/t gold over 10.00 metres, 0.67 g/t gold over 74.00 metres and 1.05 g/t gold over 4.50 metres.
• This drill section has defined a zone of continuous mineralization from the near surface to approximately 400 metres vertical depth.
• As observed at many locations along the LP fault, the apparent thickness and strength of gold mineralization increases with depth and remains open to extension.

Additional drill holes have also now been completed further along the projected strike of the LP fault zone and within the Gap zone from which assays are pending and will be released in the new year. Great Bear plans to drill test approximately 12 kilometres of the 18-kilometre-long LP fault target during 2020.

               MOST RECENT RESULTS FROM DRILLING
          ALONG FOUR KILOMETRES OF THE LP FAULT TARGET
  
Drill hole             From       To   Width      Gold      Area
                         (m)      (m)     (m)     (g/t)

BR-038                48.70    92.80   44.10      0.68      Auro
Including             75.25    92.80   17.55      1.51              
And including         81.20    91.80   10.60      2.06              
                     104.50   112.00    7.50      1.05              
And                  264.10   266.20    2.10      1.12              
And                  290.70   304.00   13.30      0.44              
And                  325.70   336.10   10.40      1.35              
And                  415.00   436.00   21.00      0.24              
And                  480.45   482.45    2.00      4.90              
BR-039                40.00    43.00    3.00      3.23      Auro
And                  115.80   154.30   38.50      0.43              
And                  162.50   181.25   18.75      0.44              
And                  262.00   277.65   15.65      0.83              
BR-041                58.00    68.00   10.00      0.66        BR 
And                   72.60   146.60   74.00      0.67              
Including            107.00   114.50    7.50      1.28              
And                  243.00   247.50    4.50      1.05              
BR-042               217.70   259.50   41.80      1.13        BR 
Including            217.70   221.20    3.50      6.69              
And                  264.60   302.55   37.95      1.13              
Including            277.20   293.30   16.10      2.10              
BR-047               195.20   226.75   31.55      0.54        BR 
And                  293.10   311.70   18.60      0.31              
And                  324.00   337.85   13.85      0.29              
BR-060               140.35   154.00   13.65      0.12      Auro
And                  244.00   276.00   32.00      0.31              
And                  284.00   333.00   49.00      1.74              
Including            295.00   311.00   16.00      3.82              
And including        302.00   311.00    9.00      6.30              
And including        306.70   311.00    4.30     11.95              
And                  417.60   418.70    1.10      3.52              
BR-065               145.00   148.00    3.00      1.79      Auro
And                  152.60   160.60    8.00      0.79              
And                  182.35   194.00   11.65      1.68              
And                  186.80   187.50    0.70     10.69              
And                  228.70   243.40   14.70      2.34              
Including            236.40   241.20    4.80      6.32              
And                  251.60   260.30    8.70     48.67              
Including            252.55   256.90    4.35     97.00              
And including        252.55   256.30    3.75    112.15             
And including        253.60   254.80    1.20    241.88             
And                  380.80   384.40    3.60      1.17              
Including            382.10   383.10    1.00      3.65              
BR-074                16.60    57.00   40.40      0.36       Gap 
And                   80.00    88.60    8.60      0.53              
BR-075                55.00    59.15    4.15     16.80       Gap 
And                  125.25   170.80   45.55      1.25              
Including            132.25   151.50   19.25      2.05              
And including        139.25   144.15    4.90      5.30              

About the Dixie project

The Dixie project is 100 per cent owned and consists of 9,140 hectares of contiguous claims that extend over 22 kilometres and is located approximately 25 kilometres southeast of the town of Red Lake (15-minute drive), Ontario. The project is accessible year-round through a paved highway (which runs the length of the northern claim boundary) and a network of well-maintained logging roads.

The Dixie property hosts two principle styles of gold mineralization:

• High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb and Hinge); hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes; these mineralization styles are also typical of the significant mined deposits of the Red Lake district;
• High-grade disseminated gold with broad moderate to lower-grade envelopes (LP fault); interpreted to traverse the Dixie property for approximately 18 kilometres of strike length and currently drilled along four kilometres of strike length; high-grade gold mineralization is controlled by structural and geological contacts and moderate-grade to lower-grade disseminated gold surrounds and flanks the high-grade intervals; the dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear Resources Ltd.

Great Bear is a well-financed gold exploration company managed by a team with a record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in Northwestern Ontario, where the company controls over 300 square kilometres of highly prospective tenure across four projects: the flagship Dixie project (100 per cent owned), the Pakwash property (earning a 100-per-cent interest), the Dedee property (earning a 100-per-cent interest) and the Sobel property (earning a 100-per-cent interest), all of which are accessible year-round through existing roads.

Quality assurance/quality control (QA/QC) and core sampling protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake, Ont. Core samples from the program are cut in half, using a diamond-cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ont., and Activation Laboratories in Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard fire assay-AA techniques. Samples returning over 10.0 g/t gold are analyzed utilizing standard fire assay-gravimetric methods. Pulps from approximately 5 per cent of the gold mineralized samples are submitted for check analysis to a second lab. Selected samples are also chosen for duplicate assay from the coarse reject of the original sample. Selected samples with visible gold are also analyzed with a standard one-kilogram metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's QA/QC. No QA/QC issues were noted with the results reported herein.

Qualified person and National Instrument 43-101 disclosure

R. Bob Singh, professional geoscientist, director and vice-president of exploration, and Andrea Diakow, professional geoscientist, exploration manager for Great Bear, are the qualified persons as defined by NI 43-101 responsible for the accuracy of technical information contained in this news release.

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