Great Atlantic Summarizes 2023 Exploration Programs

Over 500 Rock and 90 Soil Samples Pending Results in New Brunswick and Newfoundland

VANCOUVER, January 12, 2024 - Great Atlantic Resources Corp. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to summarize work completed during its 2023 mineral exploration programs in New Brunswick and Newfoundland. The 2023 work involved prospecting and rock geochemical sampling at eleven properties in Newfoundland and five properties in New Brunswick and soil geochemical sampling at two properties, the Golden Promise Property in Newfoundland and the Keymet Property in New Brunswick.

The Company collected 566 rock samples and 91 soil samples during 2023. Analytical results pending for the rock and the soil samples will be released in a timely manner as received.

The 2023 work focused on exploration for multiple commodities including gold, silver, antimony, copper, lead, zinc, cobalt, nickel, tungsten and vanadium.

Rock samples were collected from outcrop (grab samples), subcrop and glacial float.

Just under half of the rock samples (approximately 46%) were collected at Great Atlantic's flagship Golden Promise Gold Property in central Newfoundland.

"It has been a busy and challenging 2023, but we have successfully managed to address all the requirements across various projects in our portfolio. We anticipate encouraging results, as the season has unearthed various new targets and showings in both the precious metals and rare element fronts. We are especially encouraged by the expansion of the new Gold Targets identified at Golden Promise in NLFD, and our Keymet Precious and Base Metals project in New Brunswick continues to deliver positive results, particularly in the new trending gold zone. With all the samples we have in the lab, I am sure we can expect a gem or two in the pipeline of news results we have to look forward to. Regardless, we are all very much looking forward to a productive 2024."

States Anderson CEO Great Atlantic

Approximately 20% of the rock samples were collected at Great Atlantic's other gold properties in central Newfoundland. Samples were collected at the following gold properties:

• East Golden Promise
• West Golden Promise
• South Golden Promise
• Southwest Golden Promise
• Golden Trust
• Coronation
• Lynx

Approximately 19% of the rock samples were collected at the Company's other Newfoundland properties, including the South Quarry Tungsten Property and the Pilley's Island and Point Leamington Precious Metal - Base Metal properties.

Approximately 15% of the rock samples were collected the Company's properties in New Brunswick. These include:

• Keymet Precious Metal - Base Metal Property
• Glenelg Gold - Antimony - Vanadium Property
• McDougall Road Antimony Property
• Mascarene Gold - Silver - Copper - Cobalt - Nickel - Lead - Zinc Property
• Kagoot Brook Cobalt Property

The Company has received analytical results to date for only twenty 2023 rock samples (eight samples from Golden Promise, five samples from Pilley's Island and seven samples from Glenelg). The highlight for these samples is an outcrop grab sample collected at the Glenelg Property which returned 0.50 grams / tonne gold representing the first gold bearing outcrop discovered by Great Atlantic in a target area (see news release of November 30^th, 2023).

The soil geochemical sampling conducted during 2023 was more limited. This included 50 soil samples collected at the Golden Promise Property and 41 soil samples collected at the Keymet Property, both sampling programs part of gold exploration programs. The analytical results are pending for these soil samples.

Rock and soil samples from the 2023 program have been submitted to ALS Canada Ltd. and Eastern Analytical Ltd. for gold analysis and multi-element analysis. Both companies are independent of Great Atlantic. The 2023 programs in New Brunswick and Newfoundland were 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.

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.