Focused ON Exploring Atlantic Canada Tsx.v: GR Fra: PH02 Great Atlantic Begins 2022 Exploration Program at Its 100% Owned Pilley’S - Base Metal – Precious Metal Property, North-Central Newfoundland

1

FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR

FRA: PH02

GREAT ATLANTIC BEGINS 2022 EXPLORATION PROGRAM

AT ITS 100% OWNED

PILLEY’S - BASE METAL – PRECIOUS METAL PROPERTY,

NORTH-CENTRAL NEWFOUNDLAND

VANCOUVER, British Columbia August 4th, 2022 – GREAT ATLANTIC RESOURCES

CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has begun

the 2022 exploration program at its 100% owned Pilley’s Island Base Metal - Precious Metal

Property, located in north-central Newfoundland. The program consisting of prospecting and rock

– soil geochemical sampling is being conducted in areas of copper, zinc and gold soil geochemical

anomalies and anomalous copper in bedrock.

2

The focus of the 2022 program is exploration for b ase metal and precious metal bearing

volcanogenic massive sulfide (VMS) deposits within the Pilley’s Island Property. VMS deposits

are reported within the central region of the property, including the historic Pilley’s Island Mine,

which operated during the 1890s and early 1900s and the Bull Road showing.

Gossanous outcrop – southwest region of Pilley’s Island Property

The Company is currently conducting prospecting and rock – soil geochemical sampling in target

areas identified during previous exploration programs. One area of focus is the southwest region

of the property where 2018 -2021 reconnaissance work by Great Atlantic identified zinc, copper

and gold soil geochemical anomalies and anomalous copper in outcrop. This includes a 2021

reconnaissance soil sample which returned highly anomalous values of 1,989 parts per million

(ppm) zinc and 626 ppm copper. A 2018 outcrop grab sample from this target area returned a

highly anomalous value of 2,349 ppm copper (0.23% copper). The Company is also focusing on

the west -central region of the property where 2021 soil sampling identified copper soil

geochemical anomalies (up to 160 ppm) and nickel soil geochemical anomalies (up to 172 ppm)

and anomalous copper in outcrop (up to 869 ppm copper).

3

The most significant work to date by Great Atlantic at the Pilley’s Island Property has been at

Bull Road showing. The Company reported high grade zinc plus lead, copper, silver and gold

mineralization in 2017 trench samples during 2017 including a 1.05 -meter channel sample

returning 15.40% zinc, 6.60% lead, 4.66% copper, 111.5 grams / tonne (g/t) silver and 1.005 g/t

gold and outcrop grab samples returning up to 40.8% zinc, 20.0% lead, 8.38% copper, 148.1 g/t

silver and 2.27 g/t gold (Company news releases of November 16 and December 14, 2017).

Massive sulfide mineralization at Bull Road Trench

The current and previous exploration programs at the Pilley’s Island Property are / were managed

by Qualified Person s. The 2018 and 2021 soil and rock samples referred to in the news release

were analyzed at Eastern Analytical Ltd. The samples were assayed for gold by fire assay - AA

and analyzed for 34 elements by four acid digestion - ICP-OES. The 2017 Bull Road showing

samples referred to in this news release were analyzed at Eastern Analytical Ltd. (gold by Fire

Assay - AA; and copper, lead, zinc and si lver by multi-acid digestion - AA). Eastern Analytical

Ltd. is independent of Great Atlantic.

The Pilley’s Island covers an area of 2,575 hectares. Access to the property is excellent with

government-maintained roads. The property is adjacent to tide water and is located within a mining

friendly district.

4

David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), 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

President CEO Director

604-488-3900 – Office

Investor Relations: Andrew Job 1-416-628-1560 IR @ GreatAtlanticResources.com

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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

5

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