GR.V · 2021-01-20 12:00:00

FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR FRA: PH01 Great Atlantic Expands Land Position by over 5000 Hectares With Boulder Samples Up to 17 G/T Gold Central Newfoundland Gold Belt _________________________________________________

Drill Results Mergers & Acquisitions Property Options & Staking Sampling & Geoscience Results

FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR

FRA: PH01

Great Atlantic Expands Land Position by over 5000 Hectares

With Boulder Samples Up to 17 G/T Gold

Central Newfoundland Gold Belt

_______________________________________________________ ______

VANCOUVER, British Columbia, January 20, 2021 – GREAT ATLANTIC RESOURCES

CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce that during

the year 2020 when opportunity arose it immediately staked ground that became available. This

has resulted in an additional five mineral licences, totalling 5,025 hectares, within the central

Newfoundland gold belt.

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Three licences border the Company’s Golden Promise Property while two licences are located

east of the Golden Promise Property. Anomalous gold in soil and / or rock samples is reported

within and / or adjacent to these new mineral licences. The highlight is a reported 17 grams per

tonne (g/t) gold rock sample from the Lynx Pond Property.

The Lynx Pond Property - Licence 031209M (1,525 hectares) is located approximately 12

kilometers east of the northern region of the Golden Promise Property. The property was staked to

cover the area of a reported high-grade gold bearing rock sample, reported gold soil geochemical

anomalies and a pyrite-gold mineral occurrence. The property is reported to be underlain by

Cambrian – Middle Ordovician Victoria Lake Supergroup sedimentary and volcanic rocks and

Ordovician – Silurian Badger Group sedimentary rocks. Reported historic highlights include:

• A 2004 quartz float sample from the central region of the property was reported to return

17 g/t gold, 52 g/t silver, 1.74% copper and >1% antimony.

• A 2004 soil sample from the east region of the property was reported to return an

anomalous value of 0.083 ppm gold.

• The Lynx Pond pyrite-gold occurrence is reported in the southern region of the property.

The Coronation Lake Property - Licence 031208M (500 hectares) is located approximately 14

kilometers east of the southern region of the Golden Promise Property. The property was staked

to cover reported gold soil geochemical anomalies and two gold -silver-molybdenum-copper

mineral occurrences. The property is reported to be underlain by the Neoproterozoic Crippleback

Intrusive Suite. Reported highlights include:

• Two gold-silver-molybdenum-copper mineral occurrences are reported within the

property, the Coronation Lake South #1 and Coronation Lake South #2 occurrences.

• A 1975 diamond drill hole w as reported to intersect near -surface intervals with

anomalous gold including 0.86 g/t gold over 0.91 meters core length.

• A float sample was reported (1975) to return 0.51 g/t gold, 0.65% copper and 0.25%

molybdenum.

• Three 2005 soil samples were reported to return highly anomalous values of 0.43 ppm

gold, 0.152 ppm gold and 0.112 ppm gold.

The East Golden Promise, West Golden Promise and South Golden Promise Properties

(Licences 031210M, 031549M and 031552M) were staked adjacent to the Company’s Golden

Promise Project, all reported to be underlain by Victoria Lake Supergroup (VLSG) rocks. The

VLSG hosts gold bearing quartz veins within the Golden Promise Property.

The East Golden Promise Property - Licence 031210M (1,125 hectares) is located adjacent to the

eastern region of the Golden Promise Property. The property was staked to cover areas of reported

gold bearing rock samples. These include two float samples reported to return 0.40 and 0.41

grams per tonne (g/t) gold.

The West Golden Promise Property - Licence 031549M (1,425 hectares) is located adjacent to the

western region of the Golden Promise Property. Gold anomalies were reported for 2005 humus

samples within the property (up to 54 ppb gold reported). A 2005 soil sample collected within

100 meters of the eastern boundary of the property was reported to return a highly anomalous

value of 0.559 ppm gold.

The South Golden Promise Property - Licence 031552M (450 hectares) is located adjacent to the

southern region of the Golden Promise Property. The Gabbro Zone gold occurrence is located

approximately 760 meters north of the property within the Company’s Golden Promise Property.

A 2008 soil sample reported 113 meters north of the South Golden Promise Property (in the

Golden Promise Property) was reported to return a highly anomalous value of 0.388 ppm gold.

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The Company’s five new properties and the Company’s Golden Promise, Southwest Golden

Promise and Golden Trust properties are located within a region of recent significant gold

discoveries. The Golden Promise Property hosts multiple gold bearing quartz veins and quartz vein

systems. These properties are located within the Exploits Subzone of the Newfoundland Dunnage

Zone. Recent significant gold discoveries within the Exploits Subzone include those of

Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp.

(TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the

Queensway Project. Readers are warned that mineralization at the Valentine Gold Project,

Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization

on Great Atlantic’s properties in this region.

Readers are warned that historic information included in this news release have not be verified by

a Qualified Person.David Martin, P.Geo., 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.

On Behalf of the board of directors

“Christopher R Anderson”

Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"

President CEO Director

Investor Relations:

Please call 604-488-3900

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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, Antimony, Tungsten and Gold.

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in

this release, other than statements of historical facts, that address future exploration drilling, exploration activities

and events or developments that the Company expects, are forward looking statements. Although the Company

believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such

statements are not guarantees of future performance and actual results or developments may differ materially from

those in forward-looking statements. Factors that could cause actual results to differ materially from those in

forward-looking statements include exploitation and exploration successes, continued availability of financing, and

general economic, market or business conditions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Great Atlantic Resource Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

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