Multiple Sulfide and Copper Mineralization Samples Submitted for Assays at Its 100% Owned Golden Promise Gold Property Central Newfoundland

Vancouver, British Columbia--(Newsfile Corp. - July 8, 2024) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic"), is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has completed a trenching program during June at its Golden Promise Gold Property, located in central Newfoundland. The program was completed in the southwest region of the property in an area of gold soil anomalies and rock samples containing anomalous levels of gold. Rock samples have been collected, the analytical results pending.

Trench No. 1

"We are pleased to announce the successful completion of our trenching program at the Golden Promise Gold Property. The preliminary findings are promising, and we are eagerly awaiting the analytical results of the rock samples. Our commitment to exploring and developing mineral assets in Atlantic Canada remains steadfast, and this program represents a significant step forward in unlocking the potential of our Golden Promise Gold Property." - Christopher R. Anderson, President, CEO & Director, Great Atlantic Resources Corp.

An excavator completed Trenches No. 1 and 2, exposing bedrock. A third small trench was hand trenched exposing bedrock (this trench could not be accessed by the excavator).

Bedrock in both excavated trenches has been geologically mapped and rock samples have been collected, both from boulders in the glacial till and from exposed bedrock in the two trenches. Sulfide mineralization was noted in all 13 samples collected to date, consisting mainly of pyrite. Copper mineralization in the form of chalcopyrite +/- malachite was noted in some samples.

Trench No. 2 Work

Malachite in boulder from Trench No. 2

The rock samples have been submitted to Eastern Analytical Ltd. for gold and multi-element analysis. The analytical results are pending as of the date of this news release.

The trenches are within Mineral Licence No. 036105M. Trenches No. 1 and 2 tested areas of gold soil anomalies up to 77 parts per billion (ppb) gold. These two trenches also tested areas of rock samples (outcrop and glacial float boulders) which yielded anomalous gold values including 0.44, 0.57 and 1.04 grams / tonne gold. The soil and rock samples were collected by Great Atlantic during 2018-2023 programs (see Company news releases for exploration is this region).

The Golden Promise Property hosts gold bearing quartz veins in various regions of the property including the Jaclyn Zone quartz vein systems, Shawn's Shot quartz vein, Otter Brook occurrence, Linda / Snow White quartz vein system and the Gabbro Zone occurrence. The June 2024 trenching program was conducted approximately 3.5 to 4.0 kilometers northeast of Linda / Snow White gold bearing quartz vein system.

The Golden Promise Gold Property is the largest and most advanced of eight central Newfoundland gold properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone. One of these properties (Golden Trust) is located within one kilometer 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 Mines Inc.

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