Vancouver, British Columbia--(Newsfile Corp. - November 14, 2025) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to provide the following operational update regarding the ongoing bulk sample program at the Jaclyn Main Zone (JMZ) located within the Company's 100%-owned Golden Promise property in central Newfoundland.
The bulk sample program, conducted in partnership with Novamera Inc. utilizing their Surgical Mining technology, was originally scheduled to begin in early July with completion targeted for September. However, the program has experienced significant delays and unexpected equipment challenges, particularly related to parts availability and repeated issues with the directional drilling head, as to be expected with a new and innovative technology.
Bulk Sample Operational Activities at JMZ Site
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These challenges in bringing a new, innovative technology into practical, real-world application have caused delays, and Novamera has made it clear that these issues have contributed to cost overruns and extraordinary expenses that have exceeded their initial budget.
CURRENT DRILLING PROGRESS as we stand Now :
The Drill is now turning and progressing at a rate of approximately 2 meters per day.
With overburden removal completed and casing now installed, drilling has advanced to approximately 29 metres to date. The hole is entering a geological zone defined by Great Atlantic's 2024 historic drilling (GP24-157, 158, 160, 161, 162, 163 and 164) where drill core assays within this target area included 12.9 - 60.2 g/t gold in eight vein intercepts (core length samples ranging from 0.44 meters to 1.67 meters) (see news releases on Great Atlantic website for gold bearing drill intercepts).
Bulk Sample Drill
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PROGRAM STATUS, AND POTENTIAL EARLY COMPLETION:
Novamera is currently in discussions with Great Atlantic, and the group is evaluating whether the remaining target areas can still be reached without the directional head being operational should issues continue unresolved. As well Discussions with Novamera continue regarding additional costs over runs and any additional funding that mat be required to complete the entire program.
Novamera has confirmed it will make best efforts to complete the remaining portion of the first of three large-diameter bulk sample holes. However, ongoing issues with the directional head and significant cost overruns may affect continuation, all parties are working to resolving these issues.
Preliminary estimates from Novamera to Great Atlantic indicate a possible additional $1,000,000 in funding above the programs original budget may be needed to complete the balance of the planned program.
Once Great Atlantic receives concrete and detailed updates from Novamera regarding the technical issues being resolved, as well as any additional steps that may need to be addressed, and a final summary from Novamera on the budget expenditures-specifically outlining any remaining shortfalls required to complete the program-we will report back with the go-forward plan. This information will be shared as new updates become available.
ABOUT GREAT ATLANTIC RESOURCES CORP.:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in Atlantic Canada, following a Project Generation model emphasizing gold, copper, zinc, nickel, cobalt, antimony, and tungsten.
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, approved 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
Investor Relations:
1-416-628-1560
IR@GreatAtlanticResources.com
___
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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.
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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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274606
SOURCE: Great Atlantic Resources Corp.
