Great Atlantic Clarifies Technical Disclosures __________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA
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Great Atlantic Clarifies Technical Disclosures
__________________________________________________________________
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV: GR)
(FRA: PH01) (OTCBB: PRZCF)
VANCOUVER, British Columbia – January 5, 2018 – GREAT ATLANTIC RESOURCES CORP.
(TSXV.GR) (the “ Company” or “Great Atlantic”) announces that as a result of a review by the British
Columbia Securities Commission, we are issuing the following news release to clarify our disclosure . The
information contained in this news release is intended to provide clarification to disclosure on the
Company’s May 31, 2016 news release (the “May 31, 2016 News Release”), its website (the “Website”),
and disclosure contained in the corporate presentation (the “ Corporate Presentation”), contained on the
Website.
The Company has temporarily shut -down the Website and has removed the Corporate Presentation and
will amend the technical disclosure to comply with the requirements of National Instrument 43 -101
Standards of Disclosure for Mineral Properties (“NI 43-101”).
News Release dated May 31, 2016
In its May 31, 201 6 news release, the Company disclose d a mineral resource estimate on its Golden
Promise Project . It constituted the first-time disclosure of a mineral resource estimate for the Golden
Promise Project, and triggered the requirement for the Company to file an independent technical report
under s. 4.2(1)(j)(i) of NI 43 -101. The statements in the above noted news release regarding mineral
resources on the Golden Promise Project are not supported by a NI 43 -101 compliant technical report,
contrary to NI 43 -101, such that mineral resource estimates should not be relied on until they have been
verified and supported by a NI 43-101 compliant technical report on the Golden Promise Project.
A NI 43-101 compliant technical report is in preparation and will be filed as soon as practicable.
Website
The Company is amending all disclosure relating to historical estimates on its Pilley’s Mine Project
contained on the Website.
The disclosures were of “historical estimates” on its Pilley’s Mine Project , but without providing all of
the information required by s. 2.4 of NI 43 -101. These historical estimates did not include any more
recent data or estimates, and a qualified person (as defined under NI 43 -101) has not done sufficient work
to classify these historical estimates as current mineral resources.
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Corporate Presentation
The Company retracts the Corporate Presentation which contained statements regarding potentially more
Au (gold) than previously indicated on the Golden Promise Project.
The disclosure is restricted by section 2.3(1)(a) of NI 43 -101 because it does not include the information
and cautionary language required by s. 2.3(2) of NI 43 -101. Disclosures of potential quantity and grade,
expressed as a range , of a target for furthe r exploration must include with equal prominence that the
potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a
mineral resource and that it is uncertain if further exploration will result in the tar get being delineated as a
mineral resource; and state the basis on which the disclosed potential quantity and grade has been
determined.
The Company cautions investors that all non -compliant disclosure contained on any website or any other
written disclosure document is not to be relied upon.
Website and IR Materials
The Website and investor relations materials disclosed certain exploration information that did not
include all of the information required by sections 3.2 and 3.3 of NI 43 -101. The Company and its
qualified person did not verify exploration information. Additionally, contrary to s. 3.2(c) of NI 43 -101,
the Company did not provide an explanation as to why the information has not been verified by a QP. As
such, the Company retracts al l disclosure relating to the exploration information and has removed such
disclosure from its Website and investor relations materials.
The Company retracts all non -compliant disclosures referenced above, and is amending its website and
corporate presentation.
Failure to Name the Qualified Person
The Company did not name a Qualified Person in its Corporate Presentation or on its Website. The
Company is in the process of preparing new website materials under the review of a Qualified Person.
The Company advises that the technical information disclosed should not be relied upon until it has been
reviewed and approved by a Qualified Person.
The Company has temporarily shut -down the Website and has removed the Corporate Presentation and
will amend the technical disclosure to comply with the requirements of NI 43-101.
Technical material in this news release has been reviewed by David Martin, P.Geo., a Qualified Person as
defined in NI 43-101.
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration
company focused on the discovery and development of mineral assets in Atlantic Canada. Great Atlantic
is currently building the company utilizing a project gener ation model, with a focus on antimony,
tungsten and gold.
On Behalf of the board of directors
“ Christopher R Anderson”
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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]
Forward-Looking Information
This news release may contain forward -looking statements including but not limited to the completion of a NI 43 -101 compliant
technical report, geological interpretations, updating the Website and disclosures, and statements that address activities, events or
developments that the Company expects or anticipates will or may occur in the future. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties. Forward -looking statements consist of statements
that are not purely historical, including any statements regard ing beliefs, plans, expectations or intentions regarding the future.
Such information can generally be identified by the use of forwarding -looking wording such as “may”, “expect”, “estimate”,
“will”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Actual results may differ
materially from those currently anticipated in such statements and the Company undertakes no obligation to update such
statements, except as required by law. The reader is cautioned not to place undue reliance on any forward-looking information.
Forward-looking statements are based on the then -current expectations, beliefs, assumptions, estimates and forecasts about the
business and the industry and markets in which the Company operates, i ncluding that: the current price of and demand for
minerals being targeted by the Company will be sustained or will improve; the Company’s current exploration programs and
objectives can be achieved; results of exploration activities; the Company will be a ble to obtain required exploration licences and
other permits; general business and economic conditions will not change in a material adverse manner; financing will be
available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will
be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward -looking statements are not
guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict.
Investors are cautioned that all forward -looking statements involve risks and uncertainties, including: that resource exploration
and development is a speculative business; that the Company may lose or abandon its property interest s or may fail to receive
necessary licences and permits; equipment breakdowns; labour disputes; the increase in cost estimates and the potential for
unexpected costs and expenses; the results of exploration activities; that environmental laws and regulatio ns may become more
onerous; that the Company may not be able to raise additional funds when necessary; potential defects in title to the Company ’s
properties; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable
acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings.
These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place
undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement.
There can be no assurance that that economic resources will be discovered or developed on any properties. Accordingly, actual
results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ
materially from those in forward looking statements include, but are not limited to, continued availabi lity of capital and financing
and general economic, market or business conditions, commodity prices, title dispute claims, government regulations, equipment
failures, increase in costs, the loss of key directors, employees, advisors or consultants and fees charged by service providers.
Investors are cautioned that forward -looking statements are not guarantees of future performance or events and, accordingly are
cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
There can be no assurance that forward -looking information, or the material factors or assumptions used to develop such
forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any
revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.