Great Atlantic receives bulk sample permit approval

Jul 15, 2025

2025-07-14 20:29 ET – News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC RECEIVES – BULK SAMPLE PERMIT APPROVED – 2700 TONNES AND EQUIPMENT BEING MOBILIZED TO SITE THIS MONTH TARGETING HIGH GRADE GOLD ZONE AT JACLYN MAIN ZONE – 119,000 OZ INF. AVG 10.4 G/T GOLD

Great Atlantic Resources Corp.’s wholly owned subsidiary, Golden Promise Mines Inc., has received bulk sample approval from the Newfoundland and Labrador Department of Industry, Energy and Technology for its Golden Promise gold property, located in central Newfoundland.

The approval is for extraction of a bulk sample up to 1,000 cubic metres (up to approximately 2,700 tonnes) at the gold-bearing Jaclyn Main zone (JMZ), with equipment being moved on site this month and the commencement the bulk sample extraction with the first production hole to start first week of September.

“With the landmark $2.6-billion Equinox-Calibre transaction (EQX & CXB) underscoring the growing strategic significance of Newfoundland’s gold assets, we are tremendously encouraged to finally be advancing our 22,000-hectare land package through Great Atlantic’s wholly owned subsidiary, Golden Promise Mines Inc.

“Situated just one kilometre from Calibre’s flagship Valentine gold mine and adjacent to their 24,000-hectare landholdings, our project is ideally located in one of the most dynamic and high-potential gold regions in the country.

“With the support of Digital Technology Supercluster Canada and our innovative partnership with Novamera Inc., we are now moving forward with the world’s first precision mining initiative at the Jaclyn Main zone. This positions Great Atlantic at the forefront of innovation in mining — and as a key player in the next wave of consolidation and value creation in this prolific, high-grade gold district,” stated Christopher Anderson, chief executive officer and president.

Extraction of the bulk sample at the JMZ is planned this year by Golden Promise Mines Inc. with partner Novamera Inc. using a precision mining method, powered by Novamera’s full suite of Surgical Mining technologies. The transformative new mining method leverages hardware, software, AI (artificial intelligence) and ML (machine learning) paired with conventional drilling equipment to extract ore at a fraction of the cost of conventional mining methods. Three large-diameter drill holes are planned to extract the bulk sample.

The planned bulk sampling work at the JMZ will be financed in part by co-investment from Digital, Canada’s global innovation cluster for digital technologies, as part of a larger project that aims to support data-driven and digital solutions within the mining sector.

The bulk sample extraction is planned in the west region of the JMZ. Golden Promise completed eight diamond drill holes during September to October of 2024 in the area of the planned bulk sample. All eight holes were drilled on the same northwest-southeast trend to intersect the steeply dipping, east to slightly northeast-trending JMZ. The eight holes were designed to target the JMZ between surface and approximately 100 metres of vertical depth. Half core samples from these veins included (core length) (see the company news releases of Nov. 19, 2024, Dec. 4, 2024, Jan. 8, 2025, Jan. 14, 2025, and Jan. 20, 2025):

GP-24-157: 34.47 to 35.00 metres (0.53 metre): 34.879 grams per tonne (g/t) gold;
GP-24-158: 45.35 to 45.99 metres (0.64 metre): 12.968 g/t gold;
GP-24-160: 78.95 to 79.52 metres (0.57 metre): 19.121 g/t gold;
GP-24-161: 82.56 to 83.00 metres (0.44 metre): 120.89 g/t gold;
GP-24-161: 91.80 to 93.47 metres (1.67 metre): 13.16 g/t gold;
GP-24-162: 109.25 to 109.69 metres (0.44 metre): 60.206 g/t gold;
GP-24-163: 37.00 to 37.80 metres (0.80 metre): 28.023 g/t gold;
GP-24-164: 54.53 to 55.35 meters (0.82 metre): 42.708 g/t gold;
GP-24-164: 64.13 to 64.65 metres (0.52 metre): 39.180 g/t gold.

Three additional close-spaced diamond drill holes were completed during December, 2024, and April, 2025, in this area of the JMZ, the program managed by Novamera Inc. The three drill holes included the use of Novamera’s proprietary Guidance Tool, providing increased data and resource knowledge to define the shape, geometry and continuity of the vein(s). These three steep holes were drilled approximately downdip of the JMZ and are located in the area of the planned 2025 bulk sample. The Guidance Tool collects data within a three-to-four-metre radius of the borehole to create a high-resolution 3-D orebody model, which is then used to calculate the optimal drill trajectory for Surgical Mining.

Great Atlantic reported a National Instrument 43-101-compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 inferred ounces of gold — uncapped) (see the company news release of Dec. 6, 2018, and the National Instrument 43-101 technical report on the Golden Promise property, central Newfoundland (revised), dated Dec. 4, 2018, by Greg Z. Mosher, MScApp, PGeo, and Larry Pilgrim, BSc, PGeo, filed on SEDAR+).

The Golden Promise property is the largest and most advanced of six central Newfoundland gold properties owned by Golden Promise and located within the Exploits subzone of the Newfoundland Dunnage zone. One of these properties (Golden Trust) is located within one kilometre of the Valentine gold mine of Calibre Mining Corp., which is also located within the Exploits subzone. Readers are warned that mineralization at the Valentine gold mine is not necessarily indicative of mineralization at the Golden Promise property or any of the other central Newfoundland gold properties of Golden Promise.

David Martin, PGeo (New Brunswick and Newfoundland and Labrador), a qualified person as defined by NI 43-101 and vice-president of exploration for Great Atlantic, approved the technical information contained in this news release.

About Great Atlantic Resources Corp.

Great Atlantic 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 No. 1 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, gold, copper, zinc, nickel, cobalt, antimony and tungsten.

We seek Safe Harbor.

https://greatatlanticresources.com/