Great Atlantic Acquires Glenelg Vanadium Property Southwest New Brunswick ________________________________________________________ ______ Focused ON Exploring Atlantic Canada
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TSX.v: GR
FRA: PH01
GREAT ATLANTIC ACQUIRES GLENELG VANADIUM PROPERTY
SOUTHWEST NEW BRUNSWICK
________________________________________________________ ______
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – May 6 , 201 9 - GREAT ATLANTIC RESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has
acquired, through an option agreement and by staking, the Glenelg Vanadium Property, located in
southwest New Brunswick. Recent bedrock grab samples from the property from a layered
intrusion returned significant levels of vanadium and titanium. Historic grab bedrock samples are
reported to return significant levels for gold, cobalt and bismuth. The property is located
approximately 5 kilometers southeast of the Clarence Stream Gold Project of Galway Metals Inc.
• Recent and historic bedrock grab samples of 0.33 & 0.42% V2O5.
• Historic bedrock grab sample of 14 g/t Au, 1.38% Bi, 0.65% Co and 27.5 % TiO2.
• Vanadium, titanium and iron mineralization in layered Bocabec Gabbro Complex.
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The Glenelg property has seen little exploration. Company management cannot find evidence of
historical drilling within the property. The property is reported to be underlain by the Silurian
Bocabec Gabbro Complex (gabbro, minor granodiorite, diorite and granite).
Polymetallic veins were discovered within the property during 2006 and 2013 by one of the option
partners. A grab sample collected during 2006 was reported to return 2.6 grams per tonne (g/t)
gold and 0.65% cobalt. Another grab sample was reported to return greater than 1% copper and
0.15% cobalt. A 2013 grab sample from a sulfide vein was reported to return 14 g/t gold, 1.28%
bismuth and 0.12% cobalt.
A 2013 sample collected by one of the option partners from a magnetic layer in the Bocabec
Gabbro Complex was reported to return 0.237% vanadium (0.42% V2O5), 16.5% titanium (27.5%
TiO2) and greater than 30% iron.
A grab sample from a magnetic layer collected by Great Atlantic during 2018 returned 0.188%
vanadium (0.33% V2O5), 10.10.3% TiO2 and 25.71% iron. This sample was collected by a
qualified person. This sample was analyzed by ALS Canada Ltd. by XRF Fusion.
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The Glenelg Property is located approximately 5 kilometers southeast of the Clarence Stream Gold
Project of Galway Metals Inc. (TSXV.GWM). Galway reported a NI 43 -101 resource estimate
for the project during 2018, reporting total Measured plus Indicated resources of 6,178,000 tonnes
at 1.96 g/t gold (390,000 ounces of gold) and total Inferred resources of 3 ,409,000 tonnes at 2.53
g/t gold (277,000 ounces of gold). Galway recently reported a new gold discovery at the Clarence
Stream Gold Project with one hole reported to intersect 7.3 g/t gold over 36.7 meters core length
(Galway News Release of February 13, 2019).
The Glenelg Vanadium Property is located within southwest New Brunswick approximately 20
kilometers east of the town of St. Stephen and approximately 15 kilometers northwest of the
Company’s Mascarene Property which hosts multiple mineral occurrenc es with cobalt, copper,
nickel, zinc, lead, gold and / or silver. The Glenelg Vanadium Property covers an area of
approximately 1,185 hectares.
Under the terms of 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)
$10,000 in cash deposit (paid) ; (ii) $15,000 in cash on or before the first anniver sary of the
approval date; (iii) $30,000 in cash on or before the second anniversary of the approval date; (iv)
$30,000 in cash on or before the third anniversary of the approval date; and (v) $ 40,000 on or
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before the f ourth anniversary of the approval dat e; and (vi) $50,000 on or before the f ifth
anniversary of the approval date.
In the event Great Atlantic exercises the Option and acquires a 100% right, title and interest in and
to the Property, the Optionor shall thereafter be entitled to a 2.0% net smelter return, payable upon
the commencement of Commercial Production.
Optionee shall have the right to purchase one -half (50%) of the NSR Royalty from Optionor at
any time by payment to Optionor of $1,000,000, leaving Optionor with a 1.0% remaining NSR
Royalty or in stages example $500,000 for ½ of a percentage
Readers are warned that mineralization at the Clarence Stream Gold Project and the Company’s
Mascarene Property are not necessarily indicative of mineralization within the Glenelg Vanadium
Property. Readers are warned that historic data referred to in this News Release have 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.
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company
focused on the d iscovery 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.
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
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 develo pments 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 a ctual 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 av ailability 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