Focused ON Exploring Atlantic Canada Tsx.v: GR Fra: PH01 Great Atlantic Receives Second 2020 Soil Geochemical – Geophysics Permit FOR Its Golden Promise GOLD Property Central Newfoundland ________________________________________________________ ______
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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH01
GREAT ATLANTIC RECEIVES SECOND 2020 SOIL
GEOCHEMICAL – GEOPHYSICS
PERMIT FOR ITS GOLDEN PROMISE GOLD PROPERTY
CENTRAL NEWFOUNDLAND
________________________________________________________ ______
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – June 18 , 20 20 - GREAT ATLANTIC RESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has
received a second 2020 permit for soil geochemical and ground geophysical surveys at its Golden
Promise Gold Property, located in the central Newfoundland gold belt. The permit allows for soil
geochemical and geophysical surveys within the southwest region of the property , at Gold
Anomaly 2, located approximately 600-650 meters northeast of the Linda – Snow White gold
bearing vein, the location identified in the following map . The Company discovered soil
geochemical anomalies (up to 76 ppb gold) in this area during 2019 reconnaissance sampling.
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Great Atlantic discovered gold soil geochemical anomalies during 2019 reconnaissance sampling
within the southwest region of the Golden Promise Property, referred to as Gold Anomaly 2. The
gold soil anomalies occur mainly along an east -west soil line located northeast of the northeast-
southwest striking Linda – Snow White go ld bearing quartz vein system. Highlights for Gold
Anomaly 2 include:
• Soil samples returned as high as 76 parts per billion (ppb) Gold.
• 8 of 11 samples anomalous for Gold along a 250 meter long section of soil line.
• Brand new target area, never been drilled.
• Located approximately 600-650 meters northeast of the Linda – Snow White gold
bearing quartz vein system (drill intercepts include 19.5 G/T Gold over 1.15 meters core
length).
Great Atlantic is planning grid level soil geochemical sampling during 2020 at Gold Anomaly 2
to define gold soil geochemical anomalies in this target area. Great Atlantic is also planning ground
geophysical surveys in this target area to assist with interpre tation of bedrock geology and to
identify possible gold bearing structures. The results will be used to identify sites for trenching
and diamond drilling.
Earlier this year, Great Atlantic received a permit for soil geochemical and geophysical surveys at
Gold Anomaly 1, located further northeast of Gold Anomaly 2. Soil geochemical sampling is
currently underway at Gold Anomaly 1.
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The Golden Promise Gold Property hosts multiple gold bearing quartz veins. The most significant
of these are the Jaclyn Main Zone (JMZ), located in the northern half of the property . The
Company reported a 43 -101 compliant mineral resource estimate for the J MZ during December
2018 (Company News Release of December 6, 2018).
The Golden Promise Property 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 th e 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 Exploits 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 that mineralization at the Moosehead Gold Project and Valentine Gold Project
is not necessarily indicative of mineralization on the Golden Promise Property.
Readers are warned that a reported historical drill intersection for the Linda – Snow White vein
system referred to in this news release has not been 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.
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The Company also announces that it intends to amend the term of 1,140,000 share purchase
warrants (the “Warrants”) which are currently outstanding. The purchase warrants entitled the
holder to purchase one common share of the Company at a price of $0.75 per common share.
400,000 share purchase warrants are scheduled to expire on July 31, 2020 and 740,000 are
scheduled to expire on August 14, 2020. The Warrants were issued as part of a private placement
which closed a tranch e 1 on July 31, 2018 and a final tranche on August 14, 2018 pursuant to
which 1,140,000 Units were sold at $0.50 per Unit for gross proceeds of $570,000. Each Unit
consisted of one common share of the Company and one Warrant. Insiders purchased 200,000
Units and they own 200,000 Warrants representing 17.55% of these outstanding Warrants issued
pursuant to this private placement.
The Company is seeking the approval of the TSX Venture Exchange to extend the conversion
period of the warrants to July 31, 2022 and August 14, 2022, respectively
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 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.
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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 d rilling, 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 state ments 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