Aankondiging • Feb 03
Great Atlantic Resources Corp., Annual General Meeting, Mar 31, 2026 Great Atlantic Resources Corp., Annual General Meeting, Mar 31, 2026. Aankondiging • May 10
Great Atlantic Resources Corp. Announces 2025 Exploration Plans for Its 100% Owned Newfoundland Properties Great Atlantic Resources Corp. announced its exploration plans for 2025 in Newfoundland. The Company is planning work on all nine properties including exploration for gold, silver, tungsten, copper, lead and zinc. Great Atlantic, through its wholly owned subsidiary Golden Promise Mines Inc., is planning exploration at its six central Newfoundland gold properties during 2025 including its Golden Promise Property where a bulk sample program is planned at the gold bearing Jaclyn Main Zone. Great Atlantic is planning exploration during 2025 at its precious metal - base metal and tungsten properties. Great Atlantic is planning work during 2025 at the following Newfoundland properties: Golden Promise Gold Property. Great Atlantic's property (central Newfoundland); Golden Trust Gold Property; Southwest Golden Promise Gold Property (central Newfoundland); Millertown Junction Road Gold Property (central Newfoundland); South Quarry Tungsten Property (east-central Newfoundland); Pilley's Island Precious Metal - Base Metal Property (north-central Newfoundland); Point Leamington Precious Metal - Base Metal property (north-central Newfoundland); point Leamington Precious Metal- Base Metal Property (north- central Newfoundland). Of these gold properties, The Golden Trust Property is located within one kilometer of the Valentine Gold Mine of Calibre Mining Corp.. Extraction and processing of a bulk sample is planned with partner Novamera Inc. during the summer of 2025 at the Golden Promise Property Jaclyn Main Zone (JMZ) pending receipt of approval from the Newfoundland and Labrador government. One additional steep, down-dip diamond drill hole is planned at the JMZ, managed by Novamera Inc., prior to the bulk sampling program. Diamond drilling and trenching programs are planned during 2025 at the Golden Promise Property in multiple areas. These include the Jaclyn Zone and other target areas identified by the Company. Great Atlantic has evaluated target areas for trenching during 2025 at the South Quarry Property, the focus being tungsten and emerald (beryl) exploration. Great Atlantic plans to submit an application for trenching before the end of April for the South Quarry Property. Exploration Team at South Quarry (2024) A combination of prospecting, rock - soil geochemical sampling and /or geophysical surveys are planned for all nine Newfoundland properties in select target areas to define trenching and diamond drilling targets. Aankondiging • May 02
Great Atlantic Resources Corp. announced that it expects to receive CAD 0.62 million in funding Great Atlantic Resources Corp. announced a non-brokered private placement of 5,000,000 flow-through units at a price of CAD 0.085 per unit for the gross proceeds of CAD 425,000 and 3,000,000 hard dollar unit at a price of CAD 0.065 per unit for the gross proceeds of CAD 195,000 for the total gross proceeds of CAD 620,000 on May 1, 2025. Each flow-through unit consists of one common share that qualifies as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada) and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow-through common share at the price of CAD 0.12 for 24 months after closing. The hard dollar units of the financing will comprise one common share and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at the price of CAD 0.10 for 24 months after closing. Finders' fees may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V. Directors, officers or other insiders of the company may participate in the foregoing offerings, and such parties may buy and sell securities of the company owned or controlled by them personally through the facilities of the TSX-V to finance participation in such offerings. Aankondiging • Oct 26
Great Atlantic Resources Corp. announced that it has received CAD 0.2 million in funding On October 25, 2024, Great Atlantic Resources Corp. closed the transaction. The company issued a total of 4,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 200,000. No finders’ fees were paid. All securities issued in connection with the Offering will be subject to a hold period of February 26, 2025.The closing of the private placement financing is subject to final TSX-V approval. Aankondiging • Sep 04
Great Atlantic Resources Corp. announced that it expects to receive CAD 1 million in funding Great Atlantic Resources Corp. announced a non-brokered private placement of up to 8,000,000 flow-through units at a price of CAD 0.10 per unit for the gross proceeds of CAD 800,000 and up to 4,000,000 hard-dollar units at a price of CAD 0.05 per unit for the gross proceeds of CAD 200,000 for the aggregate gross proceeds of CAD 1,000,000 on September 3, 2024. Each flow-through unit consists of one common share that qualifies as a flow-through share and one-half share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow-through common share at a price of CAD 0.15 for 36 months after closing. Each hard-dollar unit will comprise one common share and one-half share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow-through common share at a price of CAD 0.15 for 36 months after closing. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of CAD 0.20 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 20 days from the date of providing such notice. A finder's fee may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V. Directors, officers or other insiders of the company may participate in the foregoing offerings, and such parties may sell securities of the company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings. Aankondiging • Jul 04
Great Atlantic Resources Corp. announced that it expects to receive CAD 0.075 million in funding Great Atlantic Resources Corp. announced a non-brokered private placement of up to 1,500,000 flow-through units at a price of CAD 0.05 per flow-through unit for gross proceeds of CAD 75,000 on July 3, 2024. The transaction included participation from a strategic investor. Each flow-through unit consists of one flow-through common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of CAD 0.08 for 60 months after closing. A finder's fee may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V. New Risk • May 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$250k free cash flow). Share price has been highly volatile over the past 3 months (96% average daily change). Negative equity (-CA$1.5m). Earnings have declined by 21% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€2.07m market cap, or US$2.24m). Minor Risk Shareholders have been diluted in the past year (2.2% increase in shares outstanding). Aankondiging • May 26
Great Atlantic Resources Corp. Starts the 2024 Exploration Program At Its 100% Owned Pilley's Island Base Metal - Precious Metal Property, Located in North-Central Newfoundland GREAT ATLANTIC RESOURCES CORP. announced it has begun the 2024 exploration program at its 100% owned Pilley's Island Base Metal - Precious Metal Property, located in north-central Newfoundland. The focus of the 2024 program is exploration for base metal and precious metal bearing volcanogenic massive sulfide (VMS) deposits at the Pilley's Island Property. VMS deposits are reported at the property, including the historic Pilley's Island Mine (which operated during the 1890s and early 1900s) and the Bull Road showing zinc - lead - copper - silver - antimony mineral occurrence, both located within the northern region of the property (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System). Great Atlantic collected samples containing high grade zinc plus lead, copper, silver and gold mineralization during 2017 within a trench at the Bull Road Showing including a 1.05 meters long channel sample returning 15.40% zinc, 6.60% lead, 4.66% copper, 111.5 grams /tonne (g/t) silver and 1.005 g/t gold and outcrop grab samples returning up to 40.8% zinc, 20.0% lead, 8.38% copper, 148.1 g/t silver and 2.27 g/t gold. Initial 2024 work in the northern region of the property is focused on the reported area of the Fragmental Zone zinc - lead - copper mineral occurrence (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System). An outcrop with small lenses (up to approximately 0.7 meters long and up to 0.3 meters wide) of semi-massive to massive pyrite were located during the initial work. Galena is evident in one of the lenses. A piece of float or subcrop (approximately 25 x 15 x 15 centimeters) of semi-massive pyrite with galena was located adjacent to this outcrop. Rock samples have been collected at this site and submitted for gold and multi-element analysis. The analytical results are pending for these rock samples. This outcrop is located approximately 150 - 200 meters northwest of the 2017 Bull Road showing trench samples. The Company is also planning prospecting and rock - soil geochemical sampling during 2024 in other target areas within the Pilley's Island Property which were identified during previous exploration programs. Areas of planned 2024 work include: North - central region of the property in area of 2021 outcrop grab samples which yielded 1.09% zinc and 0.82% lead; and 1.04% zinc and 0.81% lead. Southwest region of the property where 2018-2022 reconnaissance work by Great Atlantic identified zinc, copper and gold soil geochemical anomalies and anomalous copper and zinc in rock samples. West-central region of the property where 2021 soil sampling identified copper soil geochemical anomalies and anomalous copper in outcrop. The current and previous exploration programs at the Pilley's Island Property are /were managed by Qualified Persons. The 2018 - 2022 soil and rock samples referred to in the news release were analyzed at Eastern Analytical Ltd. The samples were assayed for gold by fire assay - AA and analyzed for 34 elements by four acid digestion - ICP-OES. The 2017 Bull Road showing samples referred to in this news release were analyzed at Eastern Analytical Ltd. (gold by Fire Assay - AA; and copper, lead, zinc and silver by multi-acid digestion - AA). Eastern Analytical Ltd. is independent of Great Atlantic. The Pilley's Island covers an area of 1,375 hectares. Access to the property is excellent with government-maintained roads. The property is adjacent to tide water and is located within a mining friendly district. Aankondiging • May 22
Great Atlantic Resources Corp., Annual General Meeting, Jul 12, 2024 Great Atlantic Resources Corp., Annual General Meeting, Jul 12, 2024. Aankondiging • Apr 11
Great Atlantic Resources Corp. Receives Additional Analytical Results for Rock Samples It Collected At the Golden Promise Gold Property, Located in Central Newfoundland Great Atlantic Resources Corp. announced it has received additional analytical results for rock samples it collected at the Golden Promise Gold Property, located in Central Newfoundland. The property is 100% owned by Great Atlantic's wholly owned subsidiary, Golden Promise Mines Inc. ("GPM") a gold development company which wholly owns several projects in Central Newfoundland. Glacial float and outcrop samples from a target area in the southwest region of the property returned anomalous vanadium values (two samples exceeded 1,000 parts per million (ppm)(> 0.1% V)) and anomalous gold values (up to 97 parts per billion (ppb). One sample from this area also yielded anomalous copper, nickel and molybdenum values. Great Atlantic conducted prospecting and rock geochemical sampling during the summer of 2023 at a new target area in the southwest region the Golden Promise Property. The area was chosen due to reported bedrock geology which is favourable to host gold mineralization. The work was conducted near the reported contact of the Stanley Waters Formation and the Lawrence Harbour Formation, both part of the Victoria Lake Supergroup (Rogers et al., 2005). Great Atlantic plans to re- submit the two samples exceeding 1,000 ppm vanadium for additional analysis to determine the actual vanadium content. GPM is planning additional work during the 2024 field season within the southwest region of the Golden Promise Property with work to be focused in the area of the 2023 anomalous samples and elsewhere near the reported contacts of the Stanley Waters and Lawrence Harbour formations. Prospecting, rock - soil geochemical sampling and geophysical surveys are planned. The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. The property is located approximately 50 kilometers northeast 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. The 2023 rock samples referred to in this news release were analyzed for gold (fire assay - AA) and for 34 elements (four acid digestion and ICP-OES analysis) by Eastern Analytical Ltd, which is independent of Great Atlantic. The 2023 exploration program at the Golden Promise Property was managed and supervised by a Qualified Person. David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release. Aankondiging • Mar 30
Great Atlantic Resources Corp. Completes Geophysical Surveys At Its Keymet Precious Metal - Base Metal Property, Located in Northeast New Brunswick GREAT ATLANTIC RESOURCES CORP. announced it has completed geophysical surveys at its Keymet Precious Metal - Base Metal Property, located in northeast New Brunswick. The ground magnetometer and VLF geophysical surveys were completed during the second half of March. The surveys covered an area of approximately 2 by 0.6 kilometers with the western part of the survey area covering a zone of gold soil geochemical anomalies identified by the Company during 2021-2022 programs. The 2021-2022 soil geochemical sampling defined a zone of gold soil anomalies approximately 200 meters by 200-500 meters of which 39 of 44 samples from this zone returned anomalous values of 0.005-0.067 parts per million (ppm) gold (5-67 parts per billion (ppb)), establishing a priority target area for Great Atlantic. The objectives of the geophysical surveys were to assist in interpreting bedrock geology and to identify anomalies that could represent potential gold-bearing structures and trenching - diamond drilling targets. Great Atlantic is awaiting results from the surveys. The combined 2021 - 2023 programs (prospecting and rock - soil geochemical sampling) has identified an approximately 1.5 kilometers long northeast-southwest target trend with local gold soil anomalies and local highly anomalous gold in glacial float and bedrock adjacent to the Melanson Brook Fault in the west-central region of the property. The March 2024 geophysics surveys overlapped the east part of this trend. Company management have found no reports of diamond drilling within this target area. Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property. The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. The historic Keymet Mine is located in the northwest region of the property. The mine operated during the mid-1950s, producing lead, zinc, copper and silver. Production at this mine was terminated in 1956 due to a fire at the site. David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release. Historic results stated on the Keymet Property map (stars 3, 4 and 5) in this news release have not been verified by a Qualified Person. Aankondiging • Mar 23
Great Atlantic Resources Corp. Confirms Anomalous Gold in Rock and Soil Samples 1.5 Kilometers Long Target Trend Great Atlantic Resources Corp. announced it has received analytical results for rock and soil samples collected during 2023 at its Keymet Precious Metal - Base Metal Property, located in northeast New Brunswick. Highlights include: Gold soil anomalies in new target area (west-central region) with 21 of 41 samples yielding anomalous gold values of 10 - 77 parts per billion (ppb) gold. Bedrock grab sample (west-central region) yielded 1.41 grams /tonne (G/T) gold. 1.5 km long target trend (west-central region) adjacent to Melanson Brook Fault. Glacial float sample (northwest region) in a new target area yielded 0.43 G/T gold. Forty-one soil samples were collected during 2023 in the west-central region of the Keymet Property. The samples were collected within one kilometer of the reported location of the Melanson Brook Fault (Wilson, R.A. (compiler) 2013) within what Company management believe is a favourable northeast - southwest trend for gold mineralization adjacent to and south of the Melanson Brook Fault. The 2023 soil geochemical sampling area is approximately 1.4-2 kilometers southwest of the 2021 and 2022 soil sampling area in which gold anomalies were identified and approximately 700 meters southwest of a gold bearing outcrop discovered in 2002. The 2023 samples were collected along two northwest-southeast traverses spaced approximately 300 meters apart. Sample spacing along the traverses was approximately 25 meters. Twenty-one of the 41 soil samples returned anomalous gold values in the 10-77 ppb range. Nine samples exceeded 20 ppb gold of which seven of nine samples along an approximately 200 meters long section from the east line exceeded 20 ppb gold (up to 49 ppb Au) defining a target area for further exploration in the opinion of Company management. Multiple samples returned anomalous zinc values including four samples in the 541 - 850 parts per million (ppm) range. Prospecting was conducted during 2023 in the west-central region of the property within a northeast - southwest trend extending from the area of the 2021-2022 soil geochemical sampling to the area of the 2023 soil geochemical sampling. Twelve rock samples were collected from outcrop and glacially transported float. A 2023 bedrock grab sample collected west of the 2021-2022 soil samples and northeast of the 2023 soil samples returned a highly anomalous value of 1.41 G/T gold. Two grab samples collected during 2022 from this outcrop also yielded highly anomalous gold values of 0.98 G/T gold and 0.34 G/T gold. Three glacial float samples collected during 2022 approximately 250 meters east of this outcrop yielded highly anomalous values of 1.83 G/T gold, 0.63 G/T gold and 0.48 G/T gold. The area of anomalous 2022 and 2023 rock samples is located in the reported area of the Alcida East gold mineral occurrence (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database, Reference No. 907). The combined anomalous 2021 - 2023 soil samples and 2022-2023 rock samples define a target area approximately 1.5 kilometers long in a northeast-southwest trend adjacent to the Melanson Brook Fault in the west-central region of the property. Company management have found no reports of diamond drilling within this target area. Prospecting and rock geochemical sampling was also conducted during 2023 in the northwest region of the Keymet Property in an area of little previous work by the Company. Thirteen rock samples were collected in this region from outcrop and glacial float. A sample from an angular sheared metasiltstone glacial float boulder with quartz veins yieled a highy anomalous value of 0.43 G/T gold. The 2023 soil and rock samples as well as the 2021-2022 soil and rock samples referred to in this news release were submitted to ALS Canada Ltd. for gold analysis (by fire assay - AA) and for multi-element analysis (four acid disgestion and ICP-AES analysis). ALS Canada Ltd. is independent of Greaat Atlantic. The 2021 - 2023 programs were supervised by a Qualified Person. The historic Keymet Mine, located in the northwest region of the Keymet Property, operated during the mid-1950s, producing lead, zinc, copper and silver. Production at this mine was terminated in 1956 due to a fire at the site. The Company has located gold bearing float and gold bearing bedrock and polymetallic veins containing high grade zinc, copper and silver this region of the property. Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property. Aankondiging • Jan 19
Great Atlantic Receives Additional Trenching Permit 100% Owned Golden Promise Gold Property Great Atlantic Resources Corp. announce it has received approval for additional trenching at its Golden Promise Gold Property located in the central Newfoundland gold belt. The new trenching permit is for the southern region of the property in an area of reported geophysical anomalies. The new approval is for up to five excavator trenches within Mineral Licences 036105M in the southern region of the Golden Promise Property to test an area of reported magnetic and electromagnetic geophysical anomalies reported northeast of the Gabbro Zone Gold Occurrence. The geophysical anomalies in this area were identified during a 2003 airborne geophysical survey by Rubicon Mineral Corp. Great Atlantic confirmed gold mineralization at the Gabbro Zone Gold Occurrence during 2019 including grab samples of quartz veins cutting gabbro returning 0.80 and 1.11 grams /tonne gold. The five trenches approved are also within the area of the reported contact of the Stanley Waters Formation and the Lawrence Harbour Formation (Rogers et al., 2005), both part of the Victoria Lake Supergroup within the Exploits Subzone. Some gold bearing quartz veins within the Golden Promise Property are located near the reported contact of these two formations including the Jaclyn Zone, Shawn's Shot and the Linda /Snow White gold bearing quartz veins /vein systems. Great Atlantic is planning to conduct this trenching program during the 2024 field season. Aankondiging • Dec 16
Great Atlantic Resources Corp. Completes 2023 Exploration Program At Its 100% Owned Keymet Precious Metal - Base Metal Property, Northeast New Brunswick Great Atlantic RESOURCES CORP. announced it has completed its 2023 exploration program at its Keymet Precious Metal - Base Metal Property, located in northeast New Brunswick. The program consisted of prospecting and rock - soil geochemical sampling. The work was conducted in the northwest and west-central regions of the property. The work in the west-central region focused on a new target area which was identified during the 2021-2022 exploration programs where soil and rock samples yielded anomalous gold values. Analyses are pending for 2023 rock and soil samples. The 2023 work in the west- central region of the Keymet Property was completed within and west of an area of gold soil anomalies and glacial float and outcrop with anomalous levels of gold identified by Great Atlantic during the 2021 and 2022 programs. Forty-one soil samples were collected during the 2023 program along two northwest-southeast traverses to determine if gold soil anomalies exist further west-southwest of the 2021 and 2022 soil sample lines. Twelve rock samples were collected in this region during 2023 from outcrop and glacial float, primarily to further test for gold mineralization. Great Atlantic plans to submit the samples before the end of 2023 to a certified laboratory (independent of Great Atlantic) for gold and multi-element analysis. Great Atlantic's 2021 and 2022 programs defined a zone of gold soil anomalies in the west-central region of the Keymet Property approximately 200 meters by 200-500 meters of which 39 of 44 samples from this zone returned anomalous values of 5-67 parts per billion (ppb) gold. Three rock samples collected during 2022 approximately 350 meters west of the area of 2021-2022 soil sampling returned 0.63 grams /tonne (g/t) gold, 0.98 g/t gold and 1.83 g/t gold. These samples were collected from glacial float and outcrop. Company Management have found no reports of diamond drilling within this target area. The 2021-2022 soil and rock samples were analysed by ALS Canada Ltd. Prospecting and rock geochemical sampling was also conducted during 2023 in the northwest region of the Keymet Property. Thirteen rock samples were collected in this area from outcrop and glacial floating. The samples were collected primarily to test for precious metal and base metal mineralization northwest of the historic Keymet Mine. The samples have been submitted to ALS Canada Ltd. for gold analysis (by fire assay - AA) and for multi-element analysis (four acid disgestion and ICP-AES analysis). Production at this mine was terminated in 1956 due to a fire at the site. The Company has located gold bearing float and gold bearing bedrock and polymetallic veins containing high grade zinc, copper and silver this region of the property. Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property; These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone., South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property. The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that 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 differ materially from those in forward the forward-looking statements include exploitation and exploration success, continued availability of financing, and general economic, market or business conditions. Both TSX Venture Exchange, and general economic, market conditions. Aankondiging • Dec 13
Great Atlantic Resources Corp. Receives Diamond Drilling and Trenching Approvals for New Target Area At Its 100% Owned Golden Promise Gold Property - Central Newfoundland Great Atlantic Resources Corp. announced it has received approval from the government of Newfound and Labrador for additional diamond drilling and trenching at its Golden Promise Gold Property located in the central Newfoundland. The approval is for five drill holes and three trenches within the southern region of the property in an area of gold soil geochemical anomalies. Great Atlantic has not conducted any such diamond drilling or trenching to date in this relatively underexplored area of the Golden Promise Property. The area of approved diamond drilling and trenching is within the southwest region of the Golden Promise Property within Mineral Licence 036105M. This target area is located approximately 3.5 to 4.0 kilometers northeast of Linda /Snow White gold bearing quartz vein system. This is an area of gold soil geochemistry anomalies identified by the Company during the 2018 and 2020 exploration programs. This zone of gold soil anomalies has an apparent length of at least 500 meters with an apparent width of approximately 90-200 meters (defined by four soil sample lines) with 22 of 28 samples within the zone returning anomalous gold values of 5 parts per billion (ppb) and higher (up to 77 ppb Au). The five planned drill holes and three planned trenches will test different parts of this zone of gold soil anomalies. The planned drilling will be approximately 1,500-2,000 meters. The Golden Promise Property hosts gold bearing quartz veins in various regions of the property including theJaclyn Zone quartz vein systems, Shawn's Shot vein, Otter Brook occurrence, Linda /Snow White quartz vein system and the Gabbro occurrence. The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Recent significant gold discoveries within the Exploits Sub zone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at Great Atlantic's Golden Promise Property. Aankondiging • Dec 09
Great Atlantic Resources Corp. Discovers New Zone of Sulfide Bearing Quartz Veins At Its Gold, Copper, Nickel, Cobalt, Zinc Great Atlantic Resources Corp. announced it has completed its 2023 program of prospecting and rock geochemical sampling at its Mascarene Property, located in southwest New Brunswick. The highlight of the program was the discovery of sulfide-bearing quartz veins in one area in the north-central region of the property. Rock samples have been collected and submitted for gold and multi-element analysis of which the analytical results are pending. The 2023 prospecting and rock geochemical samples was conducted in the west and north-central regions of the Mascarene Property. The work in the north-central region was conducted southeast of the reported location of the Mascarene Gold mineral occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database - Reference No. 1323). Great Atlantic has not confirmed this mineral occurrence. During the 2023 work, Great Atlantic located sulfide bearing quartz veins in outcrops at three locations within an area of approximately 200 meters by 50 meters. The quartz veins vary from approximately 0.2 meters to 1.3 meters wide and contain pyrite and /or chalcopyrite. Seven outcrop grab samples were collected from these quartz veins. Two other samples was collected in this area from quartz vein subcrop and from a glacially transported float with quartz veins. These nine samples have been submitted to ALS Canada Ltd. for gold and multi- element analysis. The work in the west region of the property was conducted south-southwest of historic workings interpreted by Great Atlantic management to be associated with the reported Simpson Prospects mineral occurrence. Six rock samples were collected in this region, six being grab samples from outcrop and one sample collected from glacially tranported float. These include quartz vein samples with +/- pyrite and mafic volcanic samples with+/- pyrite and pyrrhotite, one of which is cut by a shear /fault zone. These six rock samples have been submitted to ALSCanada Ltd. for gold and multiple-element analysis. Great Atlantic previously confirmed high-grade zinc mineralization in rubble at the Simpson Prospects workings with two 2018 rubble samples yielding 12.6% zinc and 12.3% zinc. A broad northeast trending zone of magnetic high anomalies (identified during a 2001 government airborne magnetic survey) transects the entire Mascarene Property. Great Atlantic's management speculate this magnetic high trend to be associated with a buried mafic intrusion (s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits. Aankondiging • Dec 06
Great Atlantic Resources Corp. Locates Antimony Mineralization in Bedrock 100% Owned McDougall Road Antimony - Gold Property New Brunswick Great Atlantic Resources Corp. announced it has completed its 2023 exploration program of prospecting and rock geochemical sampling at its 100% owned McDougall Road Antimony- Gold Property, located in western New Brunswick. Stibnite mineralization (antimony sulfide) was located within an outcrop during the program in the area of a reported regional fault. The company is preparing the rock samples for submission for multi-elements analysis (including gold and antimony). Great Atlantic previously identified antimony and gold soil geochemical anomalies in this region of the property. The 2023 prospecting and rock geochemical testing program was conducted within the central region of the McDougall Road Property in the reported area of the Woodstock Fault (a regional structure in western New Brunswick). Great Atlantic had previously confirmed antimony and gold soil geochemistry anomalies in this area during 2015 sampling. Antimony mineralization was reported during the late 1990s in the same area as the 2023 program. A late 1990s vein sample from this area was reported to yield 11.6% antimony (after Hoy, 1998; Report of Work No. 475212 on file with the New Brunswick Department of Natural Resources and Energy Development). A qualified Person has not verified this reported vein /data for Great Atlantic. Nine rock samples were collected within a small area during the 2023 program. The samples were collected from outcrop, subcrop and glacially transported float. An outcrop exposure with stibnite (antimony sulfide) mineralization was located and sampled. The outcrop is highly siliceous and possibly silicified (lithology unknown at this time) with highly oxidized and crumbly parts (p possible fault). The outcrop also contains pyrite mineralization. The samples were analyzed by ALS Canada Ltd. for gold by Fire Assay - AA and for antimony by four acid digestion and ICP-MS analysis. ALS Canada is independent of Great Atlantic. The 2015 program was supervised by a Qualified Person. The Golden Ridge gold deposit is located approximately 13 km southwest of the McDougall Road Project in the area of the Woodstock Fault. Readers are warned that mineralization at the Golden Ridge deposit is not necessarily indicative of mineralization within the McDougall Road Project. Aankondiging • Dec 01
Great Atlantic Resources Corp. Completes the 2023 Exploration Program Consisting of Prospecting and Rock Geochemical Sampling At Its Glenelg Vanadium - Gold - Antimony Property Great Atlantic Resources Corp. announced it has completed the 2023 exploration program consisting of prospecting and rock geochemical sampling at its Glenelg Vanadium - Gold - Antimony Property, located in southwest New Brunswick. Twenty-four rock samples were collected in multiple target areas including a 21-kilogram bedrock chip sample from an antimony bearing vein that was initially discovered in 2022. Analyses have been received for seven of the 2023 rock samples of which the highlight is a bedrock grab sample which returned 0.501 grams /tonne (G/T) gold. The Glenelg Property is located immediately south of the Clarence Stream Project of Galway Metals Inc. (GWM). Vein material with stibnite (antimony sulfide) - 2022 vein discovery at the Glenelg Property: The 2023 program was conducted locally within the southern and northern regions of the Glenelg Property. The focus of the work was exploration for gold, antimony and vanadium mineralization. Twenty-four rock samples were collected from outcrop, subcrop and glacially transported float. Twenty-three samples were submitted to ALS Canada Ltd. for gold and multi-element analysis. Analyses have been received for seven rock samples collected during 2023, all from the south-central region of the property in the reported area of the Johnson Lake gold-silver mineral occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database, Reference Number 1304). Sample 9192-23-7, a grab sample from an altered (including silicification) and pyrite bearing outcrop, returned 0.501 G/T gold and an anomalous antimony value of 135 parts per million. This is the first gold bearing outcrop identified by Great Atlantic in this target area. These samples were analyses for gold by Fire Assay - Atomic Absorption Spectroscopy (AAS) and for 34 elements by four acid digestion and Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES). Gold and multi-element analyses are pending for 16 rock samples collected during the 2023 program. 2022 quartz - carbonate - antimony (stibnite) vein discovery: A large chip sample (approximately 21 kilograms) collected during 2023 from a quartz - carbonate - stibnite (antimony sulfide) vein has not been submitted for analysis as of the date of this news release. This vein was discovered during 2022 within the southern region of the Glenelg Property. The vein occurs in a highway-cut bedrock exposure and occurs within a fault zone. Massive stibnite occurs locally within the vein at the exposure. The vein strikes northwest and is steeply dipping. The initial 2022 grab sample (1.83 kilograms) from the vein returned 23.4% antimony. The vein /fault is 0.6 meters wide where the initial 2022 grab sample and the larger 2023 chip sample were collected. The initial 2022 sample was analyzed by XRF (following lithium borate fusion) by ALS Canada Ltd. Great Atlantic plans to submit the 2023 chip sample during 2023 to a certified, independent laboratory for gold and multi-element (including antimony). This is a relatively underexplored area with no drilling reported in the area of this antimony occurrence. Vanadium mineralization was confirmed by the Company during initial 2018 work in the southeast region of the Glenelg Property. A 2018 grab sample collected by the Company from a magnetic layer in the Bocabec Gabbro Complex returned 0.188% vanadium (0.33% V2O5), 10.3% TiO2 and 25.71% iron. This sample was analyzed by ALS Canada Ltd. by lithium borate fusion and XRF finish. Part of the northern boundary of the Glenelg Property borders the Clarence Stream Project of Galway Metals Inc. Galway reported a NI 43-101 resource estimate for the project during 2022, reporting total Indicated resources of 12,396,000 tonnes at 2.31 g/t gold (contained 922,000 ounces of gold and 9,605 tonnes of antimony) and total Inferred resources of 15,963,000 tonnes at 2.60 g/t gold (contained 1,334,000 ounces of gold and 2,145 tonnes of antimony). Readers are warned that mineralization at the Clarence Stream Project ise not necessarily indicative of mineralization within the Glenelg Property. Aankondiging • Nov 29
Great Atlantic Resources Completes 2023 Program At Its 100% Owned South Quarry Tungsten Property, Newfoundland GREAT ATLANTIC RESOURCES CORP announced it has completed its 2023 exploration program of prospecting and rock geochemical sampling at its 100% owned South Quarry Tungsten Property, located in south-central Newfoundland. The focus of the work was exploration for tungsten and gold and targeted multiple regions of the property. Rock samples from the 2023 program are being prepared for submission to a certified laboratory for analysis including tungsten and gold. The 2023 prospecting and rock geochemical sampling program was conducted in multiple target areas within the South Quarry Property with rock samples collected from five mineral licences. Due to extensive glacial till cover on the property, the prospecting focused on glacially transported float. A total of 85 rock samples were collected during the program, all from float. One area of focus was an area of tungsten soil geochemical anomalies identified by the Company during 2022 in the central region of the property (see Company New Release of December 13th, 2022). Approximately 25% of the 2023 rock samples were collected in this new target area. Great Atlantic plans to submit the samples during 2023 to a certified laboratory (independent of Great Atlantic) for gold analysis (by fire assay - AA) and multi-element analysis (including tungsten). Tungsten bearing pegmatite veins occur in bedrock the northern region of the property. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in this area during 2015 (see Company News Release of November 19th, 2015). Eleven quarry rubble grab samples exceeded 5% WO3 (W % x 1.26 = WO3%). A grab sample from a 25-centimeter wide vein returned 11.94% WO3. A qualified person verified this 2015 sample data and supervised the 2015 sampling. The 2015 samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Canada Ltd. (ALS Canada is independent of Great Atlantic). Tungsten analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with some samples re-analyzed by XRF. David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release. Aankondiging • Oct 20
Great Atlantic Resources Corp. Completes 2023 Exploration Programs At Seven 100% Owned Central Newfoundland Gold Properties Great Atlantic Resources Corp. announced it has completed 2023 exploration programs at seven gold properties in central Newfoundland. This consisted of prospecting and rock geochemical sampling at the Golden Trust, Lynx, Coronation, East Golden Promise, West Golden Promise, South Golden Promise and Southwest Golden Promise Properties. Great Atlantic plans to submit the rock samples to certified, independent laboratories during 2023 forgold and multi-element analysis. The objective of the work was to identify targets for geophysical surveys, trenching and diamond drilling. The Crew The East Golden Promise, West Golden promise, South Golden Promise and SouthwestGolden Promise Properties occur adjacent to Great Atlantic's Golden Promise Property which hosts gold bearing quartz veins. The Coronation and Lynx Properties occur within 20 kilometers east of the Golden Promise Property. The Golden Trust Property is located further southwest of these properties. The southern-most boundary of the Golden Trust Property is located one kilometer north of the Valentine Gold Project of Marathon Gold Corp. These properties all occur within the Exploits Subzone of the Dunnage Zone. The 2023 prospecting and rock geochemical samples were conducted in various target areas identified by Company management within the seven licences. A total of 119 rock samples were collected during these programs from outcrop, subcrop and glacially transported float. The sealed samples have been transported to secure facilities. Great Atlantic plans to submit these rock samples during 2023 to certified, independent laboratories for gold and multi-element analysis. Great Atlantic recently announced that it has established a 100% wholly-owned subsidiary named Golden Promise Mines Inc. which contains all of Great Atlantic's central Newfoundland gold properties including the Golden Promise, Southwest Golden Promise, West Golden Promise, South Golden Promise, East Golden Promise, Coronation, Lynx and the Golden Trust Properties. Readers are warned that mineralization at the Valentine Gold Project and Golden Promise Property and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization within Great Atlantic's Golden Trust, West Golden Promise, East Golden Promise, South Golden Promise, Southwest Golden Promise, Lynx and Coronation Properties. Aankondiging • Oct 18
Great Atlantic Resources Corp. Completes 2023 Exploration Program At Its 100% Owned Golden Promise Gold Property Central Newfoundland Great Atlantic Resources Corp. announced that it has completed its 2023 exploration program at its Golden Promise Gold Property, located in the central Newfoundland gold belt. The program included prospecting and rock geochemical sampling in various region of the property and soil geochemical in one area in the southern region of the property. Rock and soil samples have been submitted to an independent laboratory for gold and multi-element analysis. The focus of the work is to further define trenching and drilling targets. The 2023 program targeted multiple target areas within the Golden Promise Property. The property consists of 14 mineral licences. Prospecting and rock geochemical sampling were conducted within 11 licences with samples collected from outcrop, subcrop and glacially transported float. A total of 220 rock samples were collected. Fifty soil samples were collected within one licence. The samples have been submitted to Eastern Analytical Ltd. for gold and multi- element analysis. The analytical results are pending for all soil samples and 212 rock samples. One priority area of focus during the 2023 program was within the southwest region of the property, northeast of the gold bearing Linda /Snow White quartz vein system. This is an area of gold soil geochemical anomalies identified by the Company during 2018 and 2020. This includes a zone of gold soil anomalies with an apparent length of at least 500 meters and an apparent width of approximately 90-200 meters (based on 2018 and 2020 sampling along four soil sample lines with up to 77 parts per billion gold). The 2023 soil sampling was conducted in this area to further define gold geochemical anomalies. Over half of the 2023 rock samples were collected in this region of the Golden Promise Property. The Golden Promise Property hosts gold bearing quartz veins in various regions of the property including theJaclyn Zone, Shawn's Shot vein, Otter Brook showing, Linda /Snow White quartz vein system and the Gabbro occurrence. Great Atlantic recently announced that it has established a wholly-owned subsidiary named Golden Promise Mines Inc. into which it will be transferring all of Great Atlantic's central Newfoundland gold properties including the Golden Promise Property, the Southwest Golden Promise Property, the West Golden Promise Property, the South Golden Promise Property, the East Golden Promise Property, the Coronation Property, the Lynx Property and the Golden Trust Property. New Risk • Aug 01
New major risk - Negative shareholders equity The company has negative equity. Total equity: -CA$32k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.4m free cash flow). Share price has been highly volatile over the past 3 months (154% average daily change). Negative equity (-CA$32k). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€859.7k market cap, or US$942.8k). Minor Risk Shareholders have been diluted in the past year (37% increase in shares outstanding). Aankondiging • Feb 18
Great Atlantic Resources Corp. Identifies Additional Gold Soil Anomalies at its 100% Owned Golden Trust Property 1 Km North of Valentine Gold Project of Marathon Gold Corp. Central Newfoundland GREAT ATLANTIC RESOURCES CORP. announce it has received analytical results for soil samples collected during 2022 at its 100% owned Golden Trust Property, located within central Newfoundland and one kilometer north of the Valentine Gold Project of Marathon Gold Corp. Scattered 2022 samples from the northern region of the Golden Trust Property returned anomalous gold values in the 5-72 parts per billion (ppb) range. Initial 2020 sampling identified gold soil anomalies in this area. The 2022 reconnaissance soil sampling program was conducted within the northern region of the Golden Trust Property. The initial 2020 reconnaissance soil sampling identified gold soil anomalies in this region of the property with samples collected adjacent to a trail returning up to 52 ppb gold. Fifty-three soil samples were collected during the 2022 program along two north-south sample lines east and west of the 2020 samples. Ten of the 53 soil samples (approximately 19% of the samples) returned anomalous values of 5-72 ppb gold of which five samples (approximately 9% of the samples) returned 10- 72 ppb gold. Based on 2020 and 2022 soil geochemical sampling, Great Atlantic management have identified a target area for future gold exploration of at least 700 meters by 300 meters within the northern region of the Golden Trust Property. Great Atlantic is planning additional sol geochemical sampling and prospecting rock geochemical sampling during 2023 within and adjacent to this target area. The Golden Trust Property (2,400 hectares) is relatively under-explored. Great Atlantic management have not found any reports of diamond drilling within the property. The 2020 and 2022 soil samples reported in this news release were analyzed by Eastern Analytical Ltd. The samples were analyzed for gold by fire assay atomic absorption (AA) and for 34 elements by four acid ICP-OES. Great Atlantic is independent of Eastern Analytical Ltd. The 2020 and 2022 exploration program at Golden Trust were supervised by a Qualified Peron. Key points for the Golden Trust Property include: · Located 1 km north of the Valentine Gold Project of Marathon Gold Corp. and approximately 44 km southwest of Great Atlantic's Golden Promise Property. Located within the prospective Victoria Lake Supergroup which hosts numerous epigenetic gold & volcanogenic massive sulfide occurrences (including the Duck Pond base metal/precious metal deposit). Located within the Exploits Subzone of the Dunnage Zone and east of a major (Appalachian-scale) collisional boundary, and suture zone. Government till samples (2008) returned elevated to anomalous values for gold in various regions of the Golden Trust Property. Readers are warned that mineralization at the Valentine Gold Project and Golden Promise Property and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization within the Golden Trust Property. Aankondiging • Jan 19
Great Atlantic Resources Corp. Identifies New Target Area 1.83 G/T Gold in 2022 Quartz Boulder Sample At Its 100% Owned Golden Promise Gold Property - Central Newfoundland GREAT ATLANTIC RESOURCES CORP. announced it has received additional analytical results for 2022 rock samples collected at its Golden Promise Gold Property, located in the central Newfoundland gold belt. A sample from a quartz float boulder from a new target area returned 1.83 grams /tonne (g/t) gold. The boulder was located during 2022 reconnaissance prospecting and rock geochemical sampling. Great Atlantic previously identified gold soil anomalies and a boulder anomalous for gold during 2020 in this area. The new target area is located within the northern region of the Golden Promise Property approximately 2 kilometers west of the western part of the Jaclyn Zone. The Jaclyn Zone hosts multiple gold bearing veins /vein systems including the Jaclyn Main Zone for which the Company reported a National Instrument 43-101 compliant inferred mineral resource during late 2018. The new target area was initially identified during 2020 reconnaissance prospecting and rock - soil geochemical sampling. A sample from a quartz vein float boulder returned an anomalous value 0.128 g/t gold while two close-spaced soil samples returned anomalous values of 44 parts per billion (ppb) gold and 10 ppb gold. The 2022 work in this area consisted of prospecting and rock geochemical sampling. Quartz vein float were identified at multiple locations in this target area of which a sample from one quartz vein float boulder returned 1.83 g/t gold. The quartz vein boulders located during 2020 and 2022 within this target area occur within an area of approximately 900 meters by 400 meters. Great Atlantic is planning additional work during the 2023 field season within this target area consisting of additional prospecting and rock - soil geochemical sampling to further define this target and define trenching targets. The Golden Promise Property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on the Golden Promise Property. The 2022 rock sample referred to in this news release was analyzed for gold by ALS Canada Ltd. by fire assay - AA. The 2020 rock and soil samples referred to in this news release were analyzed by Eastern Analytical Ltd. for gold by fire assay - AA. Both ALS Canada Ltd. and Eastern Analytical Ltd. and independent of Great Atlantic. Aankondiging • Jan 05
Great Atlantic Resources Corp. Receives Diamond Drilling Permit for the Jaclyn Zone GREAT ATLANTIC RESOURCES CORP. received approval from the Newfoundland and Labrador government for diamond drilling at its 100% owned Golden Promise Property, located in central Newfoundland. The approval is for up to 33 drill holes at the gold-bearing Jaclyn Zone. The Company is planning diamond drilling during 2023 at the Jaclyn Zone, the objectives being to increase inferred gold resources at the Jaclyn Main Zone (JMZ); test a target immediately north of the JMZ; and define and test continuation of gold bearing veins at the Jaclyn North Zone (JNZ). The Jaclyn Zone hosts gold bearing quartz veins and vein systems.Great Atlantic intersected high-grade veins at the JMZ during 2019-2021 drilling programs and reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 grams /tonne (g/t) gold (119,900 ounces of gold - uncapped) The drilling approval allows for up to twelve drill holes at the JMZ. The objective of this planned drilling is to increase the JMZ's inferred resources. These include four holes to test the western extension of the JMZ and eight holes to test the extension of the JMZ to the east and down dip. Following completion of this drilling Great Atlantic plans to generate an updated NI 43-101 technical report and resource estimate. Five drill holes are approved immediately north of the JMZ to test for gold bearing quartz veins along an apparent northeast striking structural zone (based on aeromagnetic geophysical data) which connects with the JMZ. Sixteen drill holes are approved at the JNZ. These include six definition drill holes in close proximity to Great Atlantic's drill holes and pre-Great Atlantic historic drill holes and ten drill holes to test the continuation of the JNZ gold bearing vein system to the east-northeast. Diamond drilling by Great Atlantic during 2020 and 2021 indicated the JNZ gold bearing vein system to be open to the east-northeast. The two eastern-most drill holes intersected gold bearing veins including 3.88 g/t gold over 0.37 meters core length in GP-20-148 and 30.6 g/t gold over 0.41 meters core length in drill hole GP-21-156. Rock samples collected during 2017 and 2020 near drill holes GP-20-148 and GP-21-156 from multiple gold-bearing quartz boulders yielded high grade gold values including samples returning 157, 162, 208, and 332 g/t gold. These samples are located within a 300-meters long zone of gold-bearing quartz vein boulders. During the last quarter of 2018, Great Atlantic released a National Instruments 43-101 (NI 43-101) Technical Report with a summary of the exploration undertaken by the Company coupled with a mineral resource estimate of the JMZ Because much of the vein occurs near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of USD 2.50/tonne and processing costs of USD 25.00/tonne were used together with a gold price of USD 1,300/ounce. A conceptual pit slope of 45° was assumed with no allowance for mining loss or dilution. Based on the combined hypothetical mining and processing costs and the assumed price of gold, a pit-constrained cutoff grade of 0.6 g/t was adopted. For the underground portion of the resource a cutoff of 1.5 g/t was assumed. The cutoff grade for the total resource is the weighted average of the pit-constrained and underground cutoff grades. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Independent Director Al Beaton was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Jun 26
President recently sold €151k worth of stock On the 17th of June, Christopher Anderson sold around 2m shares on-market at roughly €0.081 per share. This was the largest sale by an insider in the last 3 months. Christopher has been a seller over the last 12 months, reducing personal holdings by €93k. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Director Al Beaton was the last independent director to join the board, commencing their role in 2015. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.