Focused ON Exploring Atlantic Canada Tsx.v: GR Fra: PH01 Great Atlantic Plans 2020 Diamond Drilling Golden Promise GOLD Property Central Newfoundland ________________________________________________________ ______

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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR

FRA: PH01

GREAT ATLANTIC PLANS 2020 DIAMOND DRILLING

GOLDEN PROMISE GOLD PROPERTY

CENTRAL NEWFOUNDLAND

________________________________________________________ ______

VANCOUVER, British Columbia – February 28 – GREAT ATLANTIC RESOURCES

CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is p leased to announce it is

preparing and planning to submit an application for Phase 2 diamond drilling at its Golden

Promise Gold Property , located within the central Newfoundland gold belt. The drilling is

planned for 2020 at the Jaclyn Zone , specifically the Jaclyn Main Zone (JMZ) and along

projected strike east of the Jaclyn North Zone (JNZ). The JMZ and JNZ host gold bearing quartz

vein systems. Planned drilling east of the JNZ will test an area of high-grade quartz boulders.

Quartz Vein Boulder with Visible Gold from 2017 Trench 4

(2.9 Kilogram Grab Sample Returned 332.67 g/t Au)

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The Jaclyn Zone is located within the northern region of the Golden Promise Property and hosts

five gold bearing quartz veins systems, being the J MZ, J NZ, Jaclyn South Zone, Jaclyn East

Zone and Jaclyn West Zone.

The Phase 2 drilling application will include a series of drill holes east of and along projected

strike of the JNZ including areas of high -grade quartz boulders. The JNZ is located

approximately 250 meters north of the JMZ. During 2017 Great Atlantic excavated high -grade

quartz boulders in trenches east of and along projected strike of the JNZ. Assays of quartz

boulder samples excavated during 2017 east of the JNZ included 163.99, 208.51 and 332.67 g/t

gold (Great Atlantic News Release of August 31, 2017).

All rock samples collected during the 2017 trenching program were submitted to Eastern

Analytical (Springdale, Newfoundland) for preparation and analysis. The high-grade quartz vein

boulder samples were analyzed for gold by Total Pulp Metallics – Fire Assay. The sample

submission included gold standard and blank samples.

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The Phase 2 drilling application will include in-fill drill holes at the JMZ. This will include

additional drill holes in the west area of the JMZ within th e conceptual open pit area. This area

of the JMZ was the focus of the Company’s 2019 Phase 1 drilling program which consisted of 10

holes totalling 1,063M. Drill core samples from seven holes exceeded 10 grams per tonne (g/t)

gold (Company News Releases of February 6, 12 and 19, 2020).

Highlights of near surface gold intersections from the 2019 program include (core length):

GP19-137: 12.37 grams per tonne (g /t) gold

over 1.90 meters

GP19-138: 113.07 g/t gold over 0.55 meters.

GP19-139: 15.80 g/t gold over 2.70 meters.

GP19-140: 2.30 g/t gold over 25.25 meters

(includes 5 gold bearing veins)

GP19-144: 61.35 g/t gold over 2.04 meters.

GP19-145: 14.49 g/t gold over 1.52 meters.

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The drill core samples from the 2019 program were analyzed at Eastern Analytical Ltd. Samples

of main quartz veins and quartz veined zones were analyzed by the Total Pulp Metallics method.

This involves crushing of the entire sample to -10 mesh and pulverizing to 95% -150 mesh. The

total sample is then weighed and screened 150 mesh. The +150 mesh fraction is fire assayed for

gold, and a 30 gram sub -sample of the -150 mesh fraction is fire assayed for gold. A calculated

weighted average of total gold in the sample is reported as w ell (gold values reported by the

Company in News Releases are weighted average values) . Other samples were assayed for gold

by fire assay (30 -gram sub-samples) and analyzed for 34 elements (200 -mg sub-samples totally

dissolved in four acids and analyzed by ICP-OES). Eastern Analytical, a certified laboratory, is

independent of Great Atlantic. Blank and standard samples were included with the drill core

sample submissions to Eastern Analytical. Duplicate analysis was conducted for some samples.

Great Atlantic reported a National Instrument 43 -101 mineral resource estimate for the JMZ in

late 2018 (News Release of December 6, 2018; and Sedar -filed National Instrument 43 -101

Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated

December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc.,

P.Geo.). The reported inferred mineral resource estimate for the JMZ is as follows:

Resource Cutoff Au g/t Au Cap g/t Au Uncap g/t Tonnes Au Ounces Capped Au Ounces Uncapped

Total 1.1 9.3 10.4 357,500 106,400 119,900

Pit-

Constrained 0.6 11.4 14.1 157,300 57,800 71,200

Underground 1.5 7.5 7.6 200,200 48,600 48,700

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves.

Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may

not add due to rounding.

Mineral resource tonnage and grades are reported as undiluted.

Contained Au ounces are in-situ and do not include recovery losses

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As reported in the Na tional Instrument 43 -101 Technical Report on the Golden Promise

Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher,

M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo., t he JMZ was modelled as a single

quartz vein t hat strikes east -west and dips steeply to the south. Modelled vein thickness was

based on true thickness derived from quartz vein intercepts. The estimate is based on 220 assays

that were composited to 135 one -meter long composites. A bulk density of 2. 7 g/cm3 was used.

Blocks in the model measured 15 meters east-west, 1-meter north-south and 10 meters vertically.

The block model was not rotated. Grades were interpolated using inverse -distance squared (ID2)

weighting and a search ellipse that measure d 100 meters along strike, two meters across strike

and 50 meters vertically. Grades were interpolated based on a minimum of two and a maximum

of 10 composites with a maximum of one composite per hole so the grade of each block is based

on at least two dr ill holes thereby demonstrating continuity of mineralization. For the capped

mineral resource estimate, all assays that exceed 65 g/t gold were capped at 65 g/t gold. All

resources were classified as Inferred because of the relatively wide spacing of drill holes through

most of the zone.

Because part of the vein is near surface the resource estimate was constrained by a conceptual

open pit to demonstrate reasonabl e prospects of eventual economic extraction. Generic mining

costs of US$2.50/tonne and processing costs of US$25.00/tonne were used together with a gold

price of US$1,300/ounce. A conceptual pit slope of 45° was assumed with no allowance for

mining loss or dilution. Based on the combined hypothetical mining and processing costs and

the assumed price of gold, a pit-constrained cutoff grade of 0.6 g/t was adopted. For the

underground portion of the resource a cutoff of 1.5 g/t was assumed. The cutoff gra de for the

total resource is the weighted average of the pit-constrained and underground cutoff grades.

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The Golden Promise Property hosts multiple gold bearing quartz veins and is located within a

region of recent significant gold discoveries. The property is located within the Exploits Subzone

of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the

north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano -sedimentary

terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in

part, contiguous with a major (Appalachian -scale) collisional boundary, and suture zone, known

as the Red Indian Line (RIL). The RIL forms the western boundary of the Exploi ts Subzone.

Recent significant gold discoveries in this region of the Exploits Subzone include those of

Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and Marathon Gold Corp.

(TSXV.MOZ) at the Valentine Gold Project. Readers are warned tha t mineralization at the

Moosehead Property and Valentine Gold Project is not necessarily indicative of mineralization

on the Golden Promise Property.

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

604-488-3900 – Dir

Investor Relations:

Please call 604-488-3900

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 Atla ntic 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.

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This press release include s 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 t hat 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 developme nts 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, a nd 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