Great Atlantic Acquires Cobalt - Copper - Nickel - Gold Property 17.5% Cu, 0.52% Co, 0.38% Ni & 21.8 g/t Au Southwest New Brunswick _________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA
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Great Atlantic Acquires
Cobalt - Copper - Nickel - Gold Property
17.5% Cu, 0.52% Co, 0.38% Ni & 21.8 g/t Au
Southwest New Brunswick
_________________________________________________________________
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
(FRA: PH01)
VANCOUVER, British Columbia – February 13, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR)
(the “Company” or “Great Atlantic”) is pleased to announce it has acquired the Mascarene Cobalt -
Copper-Nickel-Gold Property in southwest New Brunswick through an option agreement with two private
New Brunswick companies. Great Atlantic can acquire 100-per-cent interest in the property by means of
cash payments. Historic rock rubble samples from historic workings include reported values of up to 17.5%
Cu, 0.52% Co, 0.38% Ni and 21.8 g/t Au. Great Atlantic has also expanded the property through claim
staking. The property covers an area of approximately 2,080 hectares.
The Mascarene Property is reported to contain multiple copper +/- nickel, cobalt, gold occurrences with
historic pits / shafts dating back to the 1800s (N.B. Dept. of Energy and Resource Development Assessment
Reports and Mineral Occurrence Database files). Sulfide bearing veins are reported at some of these sites.
Mafic intrusive (gabbro) is reported at some sites. Magnetic geophysics anomalies occur within the
property, some over 5km long . Great Atlantic is targeting these anomalies a s potential sources of mafic
intrusive hosted copper-cobalt-nickel mineralization.
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Historic 2004, 2011 and 2012 grab samples from the property are reported to contain significant levels of
copper, cobalt, nickel and / or gold (source: N.B. Dept. of Energy and Resource Development Assessment
Reports). These include samples from the mine dump adjacent to the historic Oliver Cameron shaft, of
which at least 13 samples are reported to exceed 1% Cu (up to 7.73% Cu reported) while also reported to
return up to 0.52% Co, 0.38% Ni and 4.67 g/t Au. The Oliver Cameron workings are located in the eastern
region of the property. Two rubble samples reported at the near-by historic Oliver shaft were reported to
return 15.6% Cu and 0.993 g/t Au; and 17.5% Cu and 21.8 g/t Au. Grab samples from a pit in this east
region were reported to return up to 0.45% Cu, 0.31% Co and 0.30% Ni. Samples from the area of the
historic Wheal Louisiana workings in the southern region of the property were reported to return up to
3.44% Cu and 4.7 9 g/t Au and reported to contain anomalous amounts for cobalt (up to 0.13% Co
reported) and nickel (up to 0.15% Ni reported). Mafic intrusions are reported at the Wheal Louisiana site.
A qualified person has not verified this data due to winter conditions at the time of the property
acquisition.
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic
anomalies within the property . Great Atlantic management speculate these anomalies to be associated
to a buried mafi c intrusion(s). David Martin, VP Exploration for Great Atlantic states “the magnetic
anomalies are a target for mafic intrusive hosted copper -nickel-cobalt deposits. Reported shallow vein -
type mineralization at historic workings over magnetic anomalies ma y be indicative of deeper mafic
intrusive hosted copper-cobalt-nickel mineralized bodies.” Of note the Mascarene property is located
approximately 30 km southeast of the St. Stephen Ni-Cu-Co Property, with reported mineralization in both
gabbro, metasedime nt and at the contact of gabbro and metasediments (source: ABE Resources Inc.
website). Readers are warned that mineralization at the St. Stephen Ni -Co-Co Property is not necessarily
indicative of the mineralization on the Great Atlantic’s Mascarne Property.
Source: N.B. Dept. of Energy and Resource Development Assessment Report No. 477530 (Stevens, 2013)
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Readers are warned that historic data referred to in th is News Release have not been verified by a
qualified person due to winter conditions at the time of the property acquisition. Great Atlantic has not
conducted any sampling on the property.
The Mascarene Property is located approximately 6km southwest of the town of Saint George. Access is
excellent with paved provincial roads transecting or in close proximity to the property.
Under the agreement, Great Atlantic may earn in a 100-per-cent interest in the property by making
certain staged cash payments to the optionor over a five-year period as follows: (i) $15,000 in cash
within 10 business days of the TSX Venture Exchange approval of the transaction; (ii) $25,000 in
cash on or before the first anniversary of the approval date; (iii) $30,000 in cash on or before the
second and third anniversary of the approval date; (iv) $50,000 in cash on or before the fourth and
fifth anniversary of the approval date; for an aggregate total of $200,000.
The optionor will retain a 2.0-per-cent new smelter return royalty which Great Atlantic may buy
down one-half (50 per cent) of the NSR royalty by paying $500,000 per ½ percent, leaving the
optionor with a 1.0-per-cent NSR royalty.
David Martin , P.Geo. , a Qualified Person s as defined by NI 43 -101, is responsible for the technical
information contained in this News Release. Mr. Martin is the VP Exploration for Great Atlantic Resources
Corp.
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 C anada, 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 s pecial focus on the
most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
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:
Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free –888-280-8128
E-mail: [email protected]
This press release includes certain statements that may be deemed “forward -looking statements”. All st atements 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 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