Mr. Chris Taylor reports

GREAT BEAR DRILLS 81.22 G/T GOLD OVER 10.50 M AT BEDROCK SURFACE AT LP FAULT

Great Bear Resources Ltd. has released results from its continuing fully financed $21-million exploration program at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

Highlights include:

• Two new drill sections were completed within a previously undrilled 140-metre-long segment of the LP fault.
• These sections contained significant thicknesses of very shallow high-grade gold mineralization starting at the bedrock surface including 81.22 grams per tonne gold over 10.50 metres.
• Repeated intersection of high-grade gold mineralization during 2020 LP fault drilling has led to a new geological model being prepared by the company. Initial results are included in this release.

Chris Taylor, president and chief executive officer of Great Bear, said: "New results from a 140-metre-long previously undrilled segment within the LP fault include 81.22 g/t gold over 10.50 metres at bedrock surface, with excellent continuity of mineralization once again observed across adjacent drill sections and to depth on the same drill section. Over the past months we have regularly intersected predictable high-grade gold intervals at the LP fault within the broad bulk-tonnage-style gold system. This positive development is underscored by both styles of mineralization extending from bedrock surface to the limits of current drilling at depth. We are currently building an updated geological model to account for the majority of this high-grade mineralization, and provide early descriptions of this work in this release."

The company has completed 126 of approximately 300 planned drill holes into the LP fault target, as part of its five-kilometre-long-by-500-metre-deep grid drill program.

Current results highlights

Two drill sections were completed within a previously undrilled 140-metre-long gap along the LP fault: sections 20500 and 20450. High-grade gold and wider intervals of moderate gold grades were seen in both sections. New assay results are provided in the associated table and include:

• Drill hole BR-146 on drill Section 20500 intersected 209.42 grams per tonne gold over 3.95 metres, within a broader interval of 81.22 g/t gold over 10.50 metres. Mineralization began at the bedrock surface, at a downhole depth of 35.75 metres.
• A deeper interval in the same drill hole returned 2.08 g/t gold over 33.10 metres at a downhole depth of 210.90 metres.
• Continuity of gold mineralization was demonstrated on the same drill section with drill holes BR-143 and BR-145 intersecting gold mineralization 120 and 160 metres vertically below BR-146, respectively.
• Highlights from BR-143 include 9.34 g/t gold over 4.55 metres, within a broader interval of 3.24 g/t gold over 21.00 metres, and 70.60 g/t gold over 0.50 metre, within a broader interval of 1.50 g/t gold over 24.00 metres.
• Highlights from BR-145 include 15.25 g/t gold over 3.50 metres, within a broader interval of 11.47 g/t gold over 11.30 metres.
• Continuity of gold mineralization was also demonstrated on adjacent drill Section 20450, located 50 metres to the southeast of BR-146. Drill hole BR-144 intersected 23.46 g/t gold over 8.80 metres, including a higher-grade subinterval of 231.00 g/t gold over 0.50 metre. The total mineralized interval was 3.73 g/t gold over 65.00 metres.

Additional drill results were returned from the same mineralized zone on drill Section 20900, located 400 metres to the northwest of drill hole BR-146. Highlights include:

• Drill hole BR-160 returned 18.31 g/t gold over 2.50 metres within a broader interval of 4.62 g/t gold over 12.15 metres.

                       CURRENT DRILL RESULTS 
  
Drill hole                From         To        Width*         Gold
                           (m)        (m)           (m)        (g/t)

BR-150                  164.25     182.00         17.75         0.28
and                     221.00     227.00          6.00         1.12
and                     402.00     425.00         23.00         0.78
including               403.30     404.80          1.50         3.26
and                     413.50     414.00          0.50         5.45
BR-144                   89.00     154.00         65.00         3.73
including               130.00     144.25         14.25        15.31
and including           132.50     141.30          8.80        23.46
and including           140.60     141.30          0.70       231.00
and                     373.00     380.50          7.50         1.08
and                     507.00     516.85          9.85         1.04
BR-143                  116.50     197.00         80.50         1.16
including               149.50     150.50          1.00         5.09
and including           173.00     194.00         21.00         3.24
and including           182.00     191.00          9.00         6.01
including               186.45     191.00          4.55         9.34
and                     204.30     204.80          0.50        16.50
and                     355.00     379.00         24.00         0.23
and                     384.00     407.00         23.00         1.27
and                     425.05     426.55          1.50        24.00
including               425.55     426.05          0.50        70.60
BR-146                   35.75      46.25         10.50        81.22
including                38.15      42.10          3.95       209.42
and including            38.15      38.90          0.75       583.00
and including            41.10      42.10          1.00       315.43
and                     210.90     244.00         33.10         2.08
including               227.30     240.00         12.70         4.83
and including           227.30     228.50          1.20        31.18
and                     331.50     340.95          9.45         1.81
BR-145                   93.75     107.40         13.65         9.54
including                95.60     106.90         11.30        11.47
and including            95.60      96.10          0.50        85.70
and including            99.85     103.35          3.50        15.25
and including           102.85     103.35          0.50        52.80
and                     182.00     192.00         10.00         1.13
and                     352.80     353.80          1.00         5.98
and                     373.00     377.50          4.50         2.43
and                     448.00     456.00          8.00         0.94
BR-160                   19.25      31.40         12.15         4.62
including                21.00      31.40         10.40         5.34
and including            21.00      23.50          2.50        18.31
and                     142.50     151.50          9.00         0.76

Drill sections are arranged from southeast (top of table) to 
northwest (bottom of table).
* Widths are drill-indicated core lengths, as 
insufficient drilling has been undertaken to 
determine true widths at this time. Average grades 
are calculated with uncapped gold assays, as 
insufficient drilling has been completed to determine 
capping levels for higher-grade gold intercepts.  
Average widths are calculated using a 0.10 g/t gold 
cut-off grade with up to three m of internal dilution 
of zero grade.  

Update on geological modelling

Great Bear continues to collect and interpret data to refine the geological model for the entire Dixie property. To date, the company has collected more than 164,000 drill core samples and more than 100,000 downhole data observations, including alteration, mineralization and more than 36,000 oriented structural core measurements. These data points together with continuing cross-section and 3-D geological modelling continue to guide exploration drilling on the property.

While the Hinge and Dixie Limb zones are being modelled as discrete vein/replacement zones within dominantly mafic volcanic rocks, the LP fault system consists of a broad and laterally continuous zone of disseminated gold mineralization, which contains several discrete foliation parallel zones of higher-grade gold mineralization with generally steeply dipping planar geometries, hosted within both felsic-intermediate volcanic (FV) rocks and metasedimentary (MS) rocks. The sheet-like geometry of these zones adds to their predictability across drill sections and to depth and continues to facilitate their targeting during continuing exploration.

The broad zone of gold mineralization at the LP fault is associated with specific rock types, geological contacts and alteration assemblages. These rock types are recorded during core logging and contact relationships are later refined in the 3-D model once lithogeochemical data are available.

To date, two discrete high-grade corridors extending to the depths of current drilling, have been identified through interpretation and relogging of drill core from within the LP fault:

1. Upper vein zone -- a discrete zone containing up to 60 per cent deformed and transposed quartz veins. Gold occurs in both veins and wall rock and is interpreted through multiple drill holes to extend for more than 700 metres of strike, which remains open to extension in all directions.
2. High Strain zone -- A discrete zone of increased foliation parallel strain where gold has been observed along foliation planes (without quartz veining). In addition to the high degree of strain, the zone is also marked by an increase in silicification and local sulphide mineralization and is interpreted through multiple drill holes to extend along a strike length of at least 1.1 kilometres, which remains open to extension in all directions.

Additional high-grade zones within the LP fault are also being interpreted and tested with continuing drilling. Representative core photos of the Upper Vein zone and High Strain zone are included in an image on the company's website.

The company will release a comprehensive geological and mineralization model update when current data collection and modelling work on these and other high-grade gold zones is complete.

Updated drill collar locations, azimuths and dips, together with an updated complete assay table for the LP fault drilling to date will be posted to the company's website. Drill collar locations, azimuths and dips for the drill holes included in this release are provided in a table on the company's website.

About the Dixie project

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

The Dixie project hosts two principle styles of gold mineralization:

• High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). 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). The LP fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006) and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. 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 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 Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analyzed for gold using standard fire assay AA (atomic absorption) 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 quality control/quality assurance program (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.

We seek Safe Harbor.