Great Atlantic Announces $2.0 Million Private Placement Backed BY Mr. Eric Sprott

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN

THE UNITED STATES.

GREAT ATLANTIC ANNOUNCES $2.0 MILLION PRIVATE PLACEMENT BACKED BY

MR. ERIC SPROTT

VANCOUVER, BRITISH COLUMBIA – May 20, 2021 – Great Atlantic Resources Corp. (TSXV.GR) (the

“Company” or “Great Atlantic”) , is pleased to announce a non-brokered private placement offering (the

“Private Placement ”) for aggr egate gross proceeds of approximately $2,060,000 , consisting of: (i)

$1,360,000 in flow-through units of the Company (the “ FT Units”) at a price of $0.68 per FT Unit, and (ii)

$700,000 in units of the Company (the “ Units”) at a price of $0.50 per Unit . Subject to and concurrently with

the completion of the Private Placement, Mr. Eric Sprott has agreed to be a back -end purchaser of common

shares of the Company issued in connection with the Private Placement through 2176423 Ontario Ltd., a

corporation which is beneficially owned by him.

Each FT Unit shall be comprised of one common share of the Company that will qualify as a “flow -through

share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “ Tax Act ”) (a " FT

Common Share") and one common share purchase warrant of the Company (a " Warrant"). Each Unit shall

be comprised of one common share of the Company (a " Common Share") and one Warrant. Each Warrant

shall entitle the holder thereof to purchase one Common (a “ Warrant Share”) at an exercise price equal to

$0.75 at any time up to 36 months from closing of the Private Placement.

The gross proceeds from the sale of FT Units (other than the minimal amount allocable to the Warrants) will

be used for exploration expenses on the Company’s mining projects as permitted under the Income Tax Act

(Canada) to qualify as Canadian Exploration Expenses ("CEE") as defined in the Tax Act.

The FT Common Shares, Common Shares and the Warrant Shares to be issued under the Offering will have

a hold period of four months and one day closing of the Private Placement.

In connection with the Private Placement , the Company may pay a finder’s fee in cash, broker warrants,

and/or Units on the same price and terms pursuant to the Private Placement in accordance with the policies

of the TSX Venture Exchange.

The issuance of the FT Units and payment of the finder’s fee is subject to certain conditions including, but

not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

On Behalf of the board of directors

“Christopher R Anderson ”

Mr. Christopher R. Anderson “Always be positive, strive for s olutions, 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.

This press release includes certain statements that may be deemed “forward -looking statements”. All

statements in this re lease, 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 ac tual 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 Regula tion 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