Great Atlantic Provides Corporate Update FOCUSED ON EXPLORING ATLANTIC CANADA

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TSX.v: GR

FRA: PH01

Great Atlantic Provides Corporate Update

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FOCUSED ON EXPLORING ATLANTIC CANADA

VANCOUVER, British Columbia – January 31, 20 20 – GREAT ATLANTIC

RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to

announce that is has closed the first tranche of the non -brokered private placement previously

announced on January 13, 2020 for gross proceeds of $210,000. The units of the financing are

comprised of one common share at a price of $0.50 and a full share purchase warrant, which may

be exercised for a period of 18 months at a price of $0.75 per share. The term of the warrants

may be accelerated in the event that the issuer's shares trade at or above a price of $1 per share

for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give

notice, in writing or by way of news release, to the subscribers that the warrants will expire 30

days from the date of providing such notice. The hold expiry date for this financing is May 28,

2020. The proceeds of the private placement will be used for genera l working capital and

exploration work on the Company’s properties.

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

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.

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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 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 di ffer 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