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Great Atlantic identifies additional gold targets on the Golden Promise Project in Central Newfoundland

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The 2018 program was reconnaissance in nature consisting of prospecting and soil / rock geochemical sampling in multiple under-explored regions of the Golden Promise Property.

Additional Information:

Company: Great Atlantic Resources
Website: http://www.greatatlanticresources.com
Stock Symbol: TSXV: GR
Date Published: Feb 28, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Great Atlantic Resources has received all the results from its 2018 exploration program at its Golden Promise Property, which resulted in the identification of additional exploration targets.

The Golden Promise Property, located within the Exploits Subzone of the Newfoundland Dunnage Zone,
lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane.

The northwestern margin of the properties occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the Red Indian Line, which forms the western boundary of the Exploits Subzone.

The 2018 program was reconnaissance in nature consisting of prospecting and soil / rock geochemical sampling in multiple under-explored regions of the Golden Promise Property.

Multiple gold soil anomalies were identified in the southwest, west-central and east-central regions of the property, thereby adding to the number of gold targets within the property.

In the southwest, the majority of soil samples from 2 reconnaissance lines in this new target area returned anomalous values for gold of up to 77 parts per billion gold including all 11 samples from one approximately 570 meter line.

Nine of the 2018 rock grab samples, both float and outcrop, from this anomalous zone returned anomalous gold values, the high value being a boulder sample with quartz veins returning 1.04 grams per tonne gold.

This anomalous zone is approximately 4 kilometers northeast of the Linda /Snow White gold bearing vein.

Reported historic highlights for the Linda /Snow White vein include a 232 grams per tonne gold grab sample, 29.7 grams per tonne gold over 0.5 meters in a channel sample, and 19.5 grams per tonne gold over 1.15 meters during diamond drilling (core length).

The 2018 program confirmed an area of gold soil anomalies in the west-central region of the property, where in 2017 initial reconnaissance soil sampling identified gold anomalies, including samples returning 212 and 236 parts per billion gold.

Soil sampling in this area was continued during 2018 along 2 north-south lines, where 6 of 7 soil samples from an approximately 300-meter long section of one line returned anomalous values for gold in the 8 to 41 parts per billion range, confirming this new target area.

This zone of gold soil anomalies is located approximately 1 kilometer northwest of the gold bearing Shawn's Shot quartz vein, where a 0.32-meter long chip sample collected across the Shawn's Shot vein in 2017 returned 48.2 grams per tonne gold.

The 2018 program established a new gold target area in the east-central region of the property.

Approximately 25% of the soil samples along an approximately 2-kilometer section of this line returned anomalous values of 6 to 39 parts per billion gold.

Rock samples from quartz boulders in this region returned anomalous values of up to 136 parts per billion gold.

This new target area is approximately 2.2 kilometers south-southwest of the gold bearing Jaclyn Main Zone, the most advanced zone for which the company recently announced a mineral resource estimate.

Using a weighted average cutoff of 1.1 grams per tonne resulted in a total Inferred Resource of 106,000 ounces capped and 119,900 ounces upcapped.

Recent significant gold discoveries in this region of the Exploits Subzone include those of Sokoman Iron Corp. (TSXV.SIC) and Marathon Gold Corp. (TSXV.MOZ).

The property is located approximately 40 kilometers west-southwest of the Moosehead Project of Sokoman Iron Corp.

Sokoman reported a drill intersection of 45 grams per tonne gold over an 11.9 meter core length including a 1.35 meter core length quartz vein intersection of 386 grams per tonne gold from a discovery made during their 2018 diamond drill program.

The Valentine Lake Gold Camp of Marathon Gold Corp. is located approximately 55 kilometers to the southwest.

As reported on Marathon’s website, the Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totalling 2.7 million ounces of gold at 1.85 grams per tonne and inferred resources totalling 1.5 million ounces of gold at 1.77 grams per tonne.

Great Atlantic cautions that mineralization at the Moosehead Property and Valentine Lake Gold Camp is not necessarily indicative of mineralization on the Golden Promise Property.

The shares are trading at $0.05.

For more information, please visit the company’s website www.greatatlanticresources.com, contact Christopher Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com.

Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email info@kayewynn.com.

I’m Samantha Deutscher for Investmentpitch Media