Great Atlantic 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

VANCOUVER, February 17, 2023 - Great Atlantic Resources Corp. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to 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. (TSX.MOZ). 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 (see Company news release of January 27, 2021). 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 flagship 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.

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.

On Behalf of the board of directors

"Christopher R Anderson"
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 - Office

Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com

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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

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 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-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

SOURCE: Great Atlantic Resources Corp.