Great Atlantic Signs Option Agreement on the Southern Golden Promise Project, the Pilley’s Mine Project, and the Point Leamington Property __________________________________________________________________ FOCUSED ON EXPLORING ATLANTIC CANADA

Great Atlantic Signs Option Agreement on

the Southern Golden Promise Project,

the Pilley’s Mine Project, and the Point Leamington Property

__________________________________________________________________

FOCUSED ON EXPLORING ATLANTIC CANADA

(TSXV: GR)

(FRA: PH01)

Vancouver, British Columbia – May 3, 2017 – Great Atlantic Resources Corp. (TSXV: GR) (the

“Company” or “Great Atlantic”) is pleased to announce that it has signed an option agreement (the

“Agreement”) with Unity Resources Inc. (“Unity”) under which Great Atlantic may acquire from Unity

100% of mining claims compromising the Pilley ’s Mine Projec t, the Southern Golden Promise Project

and the Point Leaminington Project (collectively, the “Property”), which are located in central

Newfoundland (the “Transaction”).

Under terms of the A greement, Great Atlantic may acquire 100% of the Property by making certain

staged cash and share payments of common shares in Great Atlantic to Unity over a five year period equal

to a total of $ 80,000 in cash and/or s hare payments, in addition to an initial issuance of 1 ,000,000

common shares of Great Atlantic within ten days of TSX Venture Exchange (“TSXV”) approval of the

Agreement.

Under terms of the A greement for each year ’s payment, Great Atlantic will make the decision as to pay

Unity either cash and/or equivalent value common shares calculated based on the 10-day volume

weighted average price of Great Atlantic ’s common shares , subject to a minimum price of $0.05 per

common share.

Unity will retain a 3% net smelter return royalty (the “NSR Royalty”), payable on the commencement of

commercial production, which Great Atlantic may buy down a maximum of 2% of the NSR Royalty from

Unity at any time by payment to Unity of $500,000 for each 1%, leaving Unity with a minimum of 1%

remaining NSR Royalty.

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, with a focus on antimony, tungsten and gold.

On Behalf of the board of directors

“Lorne Mann”

Director

Forward Looking Information

This news release may contain forward -looking statements within the meaning of applicable securities law ,

including but not limited to the Transaction including the terms thereof, comments regarding the timing and content

of upcoming work progra ms, and geological interpretations. Forward-looking statements address future events and

conditions and therefore in volve inherent risks and uncertainties. Forward-looking statements address future events

and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to

analyses and other information that are based on foreca sts of future results, estimates of amounts not yet

determinable and assumptions of management. Any statements that express or involve discussions with respect to

predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often,

but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does

not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”,

“would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions

are not statements of historical fact and ma y be forward -looking statements. 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. There can be no assurance that the transaction with Unity will be successful.

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, including that: the cu rrent price of

and demand for minerals and metals being targeted by the Company will be sustained or will improve; the

Company’s current exploration programs and objectives can be achieved; the Company will be able to obtain

required exploration licences a nd 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. Forward-looking statement are necessarily based

upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the

Company to be materially different from future results, performances or achievements express or implied by such

statements. Such statements and information are based on numerous assumptions regarding present and future

business strategies and the environment in which the Company will operate in the future, including the price of

metals, anticipated costs and the ability to achieve goals. 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 interests or may f ail to receive necessary licences and permits; that

environmental laws and regulations 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; fluctuations in currency

exchange rates; fluctuating prices of commodities and metals; 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 Com pany’s public filings. These risks, as well as others, could cause actual results and events to vary

significantly. Factors that could cause actual results to differ materially from those in forward looking statements

include, but are not limited to, conti nued availability of capital and financing and general economic, market or

business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, failure of

counterparties to perform their contractual obligations and fees charged by service providers. 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 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.