Great Bear Announces Private Placement

December 13, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced that, subject to regulatory approval, it will undertake a non-brokered private placement consisting of both non-flow-through and flow-through unit offerings.

Each non-flow-through unit (each, a “NFT Unit”) will be issued at a price of $0.30 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.50 or more for a period of ten consecutive trading days

Each flow-through unit (each, a “FT Unit”) will be issued at a price of $0.35 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants will be subject to acceleration on the same terms as the NFT Unit warrants.

The Company will issue up to 2,500,000 NFT Units and up to 714,286 FT Units for gross proceeds of up to $1,000,000.  The securities issued by Great Bear in connection with the private placement will be subject to a four month hold period as prescribed by applicable securities laws.  Insiders may participate for a portion of the placement.  Finder’s fees may be payable as part of this transaction.

The Company plans to begin Phase 2 drilling of its Dixie Lake gold project, located in the Red Lake district of Ontario, in January 2018.  Proceeds will be used to support this work, and for general working capital purposes

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

 

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca\

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

Great Bear Reports Gold Showings and Geophysical Results from West Madsen Project in Red Lake District

November 14, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced results of a high resolution airborne magnetic survey completed by the Company in October, and gold exploration results from its West Madsen properties.  Gold samples collected at West Madsen occur within prominent geophysically-defined extensions of the gold-hosting geology at Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property that also continue on to Great Bear’s claims.

Figure 1: Map of high resolution airborne magnetic survey over Great Bear’s West Madsen properties, slowing locations of gold samples along on-strike extensions of geology at Pure Gold’s Madsen project.

Three sub-parallel magnetic trends cross Great Bear’s West Madsen Block A, which is contiguous with the Madsen mine property.  These have seen historical sampling, or have been sampled by Great Bear as shown on Figure 1.  Though work is early-stage, each trend is confirmed to host gold mineralization, with samples returning between 0.90 g/t gold and 2.0 g/t gold.  Great Bear recently sampled 0.9 g/t gold within silicified, pyritic rocks containing up to 15% sulphides recovered from a large trench two kilometres west of Pure Gold’s claims.  The trench is not included in any available assessment reports or other publicly available data, but is clear evidence of additional exploration activity on Great Bear’s property.

Figure 2: Large unreported exploration trench at West Madsen Block A, where Great Bear recovered 0.90 g/t gold in a grab sample and observed extensive silicification and up to 15% sulphides by rock volume.  Road shown for scale and accessibility on left of image.

Chris Taylor, CEO of Great Bear said, “We are very encouraged by early work on our West Madsen claims.  In the Red Lake district, samples are generally considered highly anomalous at the 50 ppb (0.05 g/t) gold level.  Early-stage work at West Madsen has confirmed much higher levels of approximately 1 – 2 g/t gold in three through-going extensions of the adjacent Madsen geology.  The confirmation of multiple mineralized trends at our project strongly supports follow-up prospecting and mapping to define future drill targets.  The West Madsen properties offer a low-cost, highly prospective and easily accessible addition to our primary focus at Dixie Lake, where we are planning to begin Phase 2 drilling after Christmas.”

Survey results at West Madsen Block B, which is located 5 kilometres to the west of Block A, show two primary Gold targets: 1) a prominent northeast to southwest magnetic linear, and 2) strong evidence of large-scale folding.  The magnetic linear has been described in regional reports as the on-strike extension of the Red Lake greenstone belt, which is mapped as continuing to the west where it ultimately becomes the Rice Lake gold district of westernmost Ontario and southern Manitoba.

Folding is critical to grade enrichment at the Great Bear’s Dixie Lake property, and within many other Red Lake district gold deposits including the Red Lake mine of Goldcorp (TSX: G).  Great Bear has not yet prospected West Madsen Block B, but results of the geophysical survey have provided two target areas for follow-up exploration, focused on the fold hinge area, and along the main magnetic linear.

Both Madsen blocks will be further explored in spring 2018, after conclusion of a winter drill campaign at the Dixie Lake project that is slated to being after Christmas.

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7106 hectares.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

All samples were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis analysed for gold using standard Fire Assay-AA techniques.  Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

 

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

Great Bear Reports Complete Drill Results from Red Lake, Confirms Major Gold Structure with Geophysical Survey

November 2, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced complete results of the summer 2017 drill program completed on the Dixie Lake project, located in the Red Lake district of Ontario.  All 8 drill holes returned intervals of gold mineralization.  Results are provided in Table 1.

The Company has identified four steeply-plunging zones of high grade gold (containing intercepts with greater than 5 g/t gold, with a high of 163 g/t gold) within the 500 m by 300 m area of the main gold structure that has been drilled to-date.  Mineralization displays excellent continuity, with 70 of 73 drill holes (96%) having intercepted at least 3 g/t gold, and 40 drill holes (55%) having intercepted greater than 5 g/t gold.  Gold grades are positively correlated with 1) increasing depth, and 2) proximity to the centre of these high grade, steeply plunging gold zones.

Table 1: Results from Phase 1 drilling at Dixie Lake.  New results are from DL-006, 007a and 008.  Holes DL-001 to 005 were disclosed on September 7, 2017.

Hole Number From (m) To (m) Width (m)* Au (g/t)
DL-001 136.40 141.00 4.60 4.07
including 140.50 141.00 0.50 10.50
DL-002 122.00 128.50 6.50 1.33
including 124.50 125.70 1.20 3.06
DL-003 53.25 67.00 13.75 2.11
including 60.30 61.30 1.00 6.35
DL-004 56.20 62.50 6.30 5.56
including 59.50 60.50 1.00 8.33
DL-005 162.60 173.00 10.40 16.84
including 164.60 172.45 7.85 21.53
and including 170.75 172.45 1.70 82.54
and including 171.40 172.45 1.05 130.10
DL-006 64.60 73.95 9.35 1.56
including 72.10 72.80 0.70 3.66
DL-007a 74.80 82.90 8.10 1.60
including 77.30 78.30 1.00 5.23
and 89.80 116.30 26.50 1.30
including 97.30 100.30 3.00 5.25
DL-008 175.50 182.00 6.50 1.09
including 181.40 182.00 0.60 7.12

*Width represents core length and does not reflect true width of the zone.  Great Bear has not completed enough work on the project to determine true width of the zone.  Current interpretations suggest that the zone dips between 60 – 90 degrees.  All composite intervals are calculated using a minimum cut-off grade of 0.50 g/t gold with < 1.5 metres of internal dilution.

Results of a high resolution geophysical survey completed in October confirmed that the Dixie Lake gold zone occurs within a more than 20 kilometre long, major regional structure on Great’s Bear’s claims.  The area drilled by Great Bear is one of several targets with similar geophysical expressions along this trend, suggesting capacity for multiple on-strike gold zones.  Historical drilling has confirmed gold mineralization has been intersected along 2.5 kilometres of strike length of this structure to-date.

Figure 1: Long section through main zone showing pierce points of gold intercepts.  Zone remains open along strike and at depth.  Three steeply-plunging higher grade gold zones have been drill-confirmed by Great Bear.  The “hinge zone” has not yet been tested by Great Bear, but includes several high grade intercepts including 17.22 g/t gold over 3.8 m.

Chris Taylor, CEO of Great Bear said, “Mineralization in the main zone is remarkably continuous over more than 500 m of strike length and 60 drill holes drilled to-date, and remains open along strike and at depth.  The same style of mineralization has also been drilled over 2 kilometres away along strike of the main control structure, and there is no drilling in between.  The Company plans to test the intervening area as it presents a large target with strong gold potential.  We plan to begin Phase 2 drilling after Christmas, and will also test targets within splays and parallels of the main structure, with the dual goals of expanding the main zone, and defining additional gold zones.”

Figure 2: Results of 50 m spaced high resolution airborne magnetic survey over the Dixie Lake claims.  A large structural trend hosting gold mineralization has been defined for over 20 kilometres of strike length.  Inset shows location of long section in Figure 1.  Historical drilling also confirms gold mineralization occurs within splays and parallels of the main structure.  These zones also require follow up field testing and drilling by Great Bear.

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7106 hectares.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core was logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis. All samples were analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analysed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

 

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear Completes Geophysical Survey of Red Lake Gold District Properties

October 11, 2017 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today provided an update on geophysical survey progress across its Red Lake gold district projects. The survey is now complete. In total, 2,676 line kilometres of high resolution airborne magnetic data were collected at 50 metre line spacing across all of the Company’s Red Lake properties. Results are expected to be received by the Company within 10 – 15 business days. The survey was completed by Geotech Ltd. of Aurora, Ontario.

Final results from the Company’s summer 2017 Phase 1 drill program completed at the Dixie Lake project are also expected to be received within the same timeframe. A field mapping and prospecting program will begin at the Dixie Lake and West Madsen properties in mid-October. The Company plans to undertake a Phase 2 drill program at Dixie Lake once results from both the geophysical survey and October field program are received and reviewed, during winter 2017 – 2018.
The Company also reports it has granted an aggregate of 210,000 stock options to officers, directors, advisors and consultants of the Company, exercisable at $0.36 per share for a period of five years. The options are subject to a four month hold period.
About Great Bear

Collectively, Great Bear controls 9,831 hectares of highly prospective land in the Red Lake district. Great Bear has the option to earn a 100% interest in all of its properties, royalty free, for total remaining payments of $274,000 over four years.
Its principal asset is the 7,106 hectare Dixie Lake property, where over 160 drill holes, including 5 completed by Great Bear, have defined a structurally-controlled gold mineralized system with potential for over 15 kilometres of strike length. Recent results include 10.40 m of 16.84 g/t gold and 6.30 m of 5.56 g/t gold from one of several known mineralized zones (see September 7, 2017 news release).

Also in Red Lake, the West Madsen project consists of two claims blocks totalling approximately 2,725 hectares, contiguous with Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property and covering the along-strike extensions of regional gold-controlling geology that is currently being explored extensively by Pure Gold at Madsen, less than 2.5 kilometres from Great Bear’s property.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD
“Chris Taylor”
Chris Taylor, President and CEO
Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
We seek safe harbor

Great Bear Initiates Geophysical Program in Red Lake, Receives Payment from Optioned Properties

September 26, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced the commencement of a detailed geophysical survey over its Red Lake District, Ontario properties, and also reported that it has received the first $150,000 payment related to the option of its Golden Triangle, B.C. area projects.  Under the terms of the agreement, Great Bear will receive $1,300,000 in cash payments and 10,000,000 shares of the projects’ Optionee Mountain Boy Minerals Ltd. (TSX-V: MTB) over three years, as originally disclosed on June 2, 2017.

New Survey to Define Drill Targets

Analysis of available geophysical and drill data from the Dixie Lake and West Madsen projects has led the Company to conclude that:

  • The Dixie Lake property, which recently yielded drill results including 10.40 m of 16.84 g/t gold, overlies a regionally significant gold-mineralized structure with gold in drill-core across more than 11.5 kilometres of strike length, based upon historic drilling from previous exploration groups and 8 holes recently drilled by Great Bear;
  • Multiple gold mineralized zones have been drilled within this structure and within potential parallel structures. These contain similar alteration and gold mineralization styles to that which was recently drilled by Great Bear; and
  • The West Madsen property overlies the on-strike continuation of gold-bearing stratigraphy currently being explored by Pure Gold Mining Inc. (TSX-V: PGM) at the Madsen property, which is contiguous with Great Bear’s claims.

The geophysical survey is expected to take approximately two weeks to complete, weather dependent, and will help define drill targets for an upcoming Phase 2 drill program.  A field mapping and prospecting program is also planned for October of 2017.  Phase 2 drilling is slated to proceed once results from both the geophysical survey and field program are received and reviewed, during winter 2017 – 2018.

The geophysical survey is being completed to provide high resolution data not previously available across Great Bear’s properties.  Where magnetic surveys were historically completed over a portion of the Dixie Lake project, gold mineralized zones were highly apparent because mineralization has a strong magnetic signature and occurs along trends consistent with deep-seated high-angle structures.  The current survey is expected to define these in detail.  The observed pattern at Dixie Lake of alternating magnetically destructive and additive alteration that accompanies gold mineralization, is also observed at other gold deposits in the Red Lake district.

The survey is being completed by Geotech Ltd. of Aurora, Ontario, with an anticipated cost of $170,000.  It will consist of high-sensitivity helicopter-borne magnetic data collected at 50 metre line spacing, covering the entirety of Great Bear’s Red lake claims.  In total, approximately 2,700 line kilometres will be flown.

The Company is also expecting assay results to be received over the coming weeks from the final three outstanding holes of an eight-hole drill program completed at Dixie Lake in summer 2017.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

Great Bear Drills 16.84 g/t Gold over 10.40 m in Red Lake District

September 07, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced results from the first 5 holes of an 8-hole drill program completed on the Dixie Lake Project, located in the Red Lake District of Ontario.

Highlights of drilling include:

  • Hole DL-005 intersected 10.40 m of 16.84 g/t gold including 1.05 m of 130.10 g/t gold
  • Hole DL-004 intersected 6.30 m of 5.56 g/t gold including 1.0 m of 8.33 g/t gold
  • Hole DL-001 intersected 4.60 m of 4.07 g/t gold including 0.50 m of 10.50 g/t gold
  • Hole DL-003 intersected 13.75 m of 2.11 g/t gold including 1.5 m of 5.42 g/t gold
  • Results for holes DL-006, DL-007a and DL-008 are pending.

Chris Taylor, M.Sc. P.Geo, CEO of Great Bear said, “We have recently more than tripled our Dixie Lake land position because our geological interpretation suggests we are exploring a regionally significant gold-bearing structure that mineralizes diverse geological units.  With Dixie Lake’s road access, on-site power lines, and location 20 kilometres from Red Lake, Great Bear is well-positioned to grow along with this emerging project.  Great Bear has the option to earn a 100% interest in the Dixie Lake project, royalty-free, for an additional $150,000 in payments over four years.”

Bob Singh, P.Geo, Vice President Exploration and Director of Great Bear said, “The intercept in hole DL-005 is the widest – highest grade intercept on the property to-date, and shows the potential of the main mineralized structures to host high-grade gold. It carries grade throughout the intercept, within a basalt that is strongly altered by silica and sulphides. Our 3D geological modelling, re-logging of historical drill core and re-interpretation of the zone has clearly led to a better understanding of the structural and geological relationships of high-grade gold on this property that we plan to pursue over the fall and winter.”

The Company anticipates a fall-winter exploration program consisting of mapping, geophysical investigations, and drilling.  Details will be released once all assay results from Phase 1 drilling are received.  The Company completed a private placement in July 2017 and is funded for the planned exploration.

 Table 1 contains composite intervals for holes DL-001 to DL-005.  Table 2 contains individual assays for hole DL-005.  A plan map is shown in Figure 1 and a cross section in Figure 2.

All 8 drill holes completed by Great Bear intersected a strong silica with sulphide zone consisting of pyrite and pyrrhotite with lesser arsenopyrite, sphalerite and galena.  Visible gold was noted in some intervals.  This zone is interpreted as a structurally controlled hyrdrothermal replacement of pre-existing rock units.  The zone crosses through various lithological units and has been identified along strike for at least 450 metres by Great Bear, with indications from past work of over 1.4 kilometres of strike length that remains open to extension.

Table 1: Composite results of drill holes returned to date

Hole Number From (m) To (m) Width (m)* Au (g/t)
DL-001 136.40 141.00 4.60 4.07
DL-001 including 137.00 138.30 1.30 5.74
DL-001 and including 139.90 141.00 1.10 6.71
DL-001 and including 140.50 141.00 0.50 10.50
DL-002 122.00 128.50 6.50 1.33
DL-002 including 124.50 125.70 1.20 3.06
DL-003 53.25 67.00 13.75 2.11
DL-003 including 53.25 54.75 1.50 3.11
DL-003 and including 59.80 61.80 2.00 4.61
DL-003 and including 60.30 61.80 1.50 5.42
DL-003 and including 64.00 67.00 3.00 2.61
DL-003 and including 66.50 67.00 0.50 7.36
DL-003 and including 60.30 61.30 1.00 6.35
DL-004 56.20 62.50 6.30 5.56
DL-004 including 59.50 62.00 3.00 6.45
DL-004 and including 59.50 60.50 1.00 8.33
DL-004 and including 62.00 62.50 0.50 16.40
DL-004 and 69.00 72.00 3.00 2.34
DL-005 162.60 173.00 10.40 16.84
DL-005 including 164.60 172.45 7.85 21.53
DL-005 and including 164.60 166.10 1.50 12.04
DL-005 and including 170.75 172.45 1.70 82.54
DL-005 and including 171.40 172.45 1.05 130.10

*Width represents core length and does not reflect true width of the zone.  Great Bear has not completed enough work on the project to determine true width of the zone.  Current interpretations suggest that the zone dips between 60 – 90 degrees.  All composite intervals are calculated using a minimum cutoff grade of 0.50 g/t gold with < 1.5 metres of internal dilution.

Table 2: Complete results for Hole DL-005 showing continuity of mineralization

Sample Hole From (m) To (m) Width (m) Au (g/t)
278503 DL-005 162.00 162.60 0.60 0.21
278504 DL-005 162.60 163.20 0.60 1.59
278505 DL-005 163.20 163.70 0.50 2.00
278506 DL-005 163.70 164.20 0.50 1.06
278507 DL-005 164.20 164.60 0.40 6.20
278508 DL-005 164.60 165.10 0.50 10.50
278509 DL-005 165.10 165.60 0.50 8.61
278511 DL-005 165.60 166.10 0.50 17.00
278512 DL-005 166.10 166.65 0.55 0.59
278513 DL-005 166.65 167.05 0.40 1.06
278514 DL-005 167.05 167.50 0.45 2.13
278515 DL-005 167.50 167.90 0.40 3.22
278516 DL-005 167.90 168.35 0.45 3.63
278517 DL-005 168.35 168.70 0.35 1.79
278518 DL-005 168.70 169.25 0.55 3.82
278519 DL-005 169.25 169.75 0.50 2.18
278521 DL-005 169.75 170.25 0.50 2.40
278522 DL-005 170.25 170.75 0.50 1.99
278523 DL-005 170.75 171.40 0.65 5.73
278524 DL-005 171.40 171.95 0.55 142.00
278525 DL-005 171.95 172.45 0.50 117.00
278526 DL-005 172.45 173.00 0.55 2.04
278527 DL-005 173.00 173.75 0.75 0.75
278528 DL-005 173.75 174.75 1.00 0.01
278529 DL-005 174.75 175.50 0.75 0.10
278531 DL-005 175.50 176.20 0.70 0.10
278532 DL-005 176.20 176.85 0.65 0.04
278533 DL-005 176.85 177.50 0.65 0.38

Figure 1:  Drill plan with drill hole intercepts and interpreted mineralization.  Multiple sub-parallel gold mineralized trends are observed and are being interpreted by Great Bear’s geologists.

Figure 2: Cross section through the main Dixie Lake zone.  The zone projects to surface and has been drill-confirmed to approximately 500 vertical metres depth.   It remains open to depth and along strike.  Geometry and mineralization style are similar to other structurally-controlled deposits in the Red Lake district.

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which now consists of 7106 hectares.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core was logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Great Bear’s  quality control/quality assurance program.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354
Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

 

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear Expands Dixie Lake Property

September 5, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced the expansion of its Dixie Lake gold property, through the staking of an additional 26 mineral claims totalling 5358 hectares.  The Dixie Lake property now covers 7106 hectares in the Red Lake district of Ontario.

Figure 1: Expanded Dixie Lake Gold property.  Total area is now 7106 hectares.

Dixie Lake was recently drilled by Great Bear, with assay results pending from eight diamond drill holes totalling 1047 metres (see news release August 8, 2017).

The new claims cover interpreted strike extensions of regional structures and favorable stratigraphy similar to those identified at the Dixie Lake gold zone.  Geological interpretation of recent drilling completed by Great Bear Resources, combined with re-logging of historical drill core, identified key structural controls to the gold mineralization.  Historical work at Dixie Lake also identified multiple parallel structures / gold bearing zones.  These zones can be traced through regional geophysics and geological mapping into the newly staked areas.

Historical exploration activity on the newly staked ground includes diamond drilling which intersected gold values of 2.0 g/t gold over 7.0 metres including 14.4 g/t over 0.5m (Grandcru Exploration Assessment Report 2005), approximately 2 kilometres to the northwest and along strike of Great Bear’s recent drilling.  The newly added eastern claims have not been extensively explored, however additional mineralized showings have been reported, including drilling by Kerr Addison Mines Ltd. in 1975 which intersected sulphide bearing andesite tuff containing 0.33% copper and trace gold over 0.30 metres approximately 8 kilometres from Great Bear’s recent drilling.

The newly staked ground at Dixie Lake will be mapped and prospected by Great Bear’s field crews starting in October 2017, concurrent with field investigations at Great Bear’s West Madsen project.  The West Madsen project consists of two claims blocks of approximately 2725 hectares in total, situated west of Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property and covering the along-strike extensions of regional gold-controlling structures that are currently being drilled extensively by Pure Gold at Madsen.

Collectively, Great Bear now controls 9831 hectares of highly prospective, royalty free land in the Red Lake district. Great Bear has the option to earn a 100% interest in all of its properties.

Mr. R. Bob Singh, P. Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P. Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

 
“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

 

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear Expands West Madsen Gold Project in Red Lake Gold District and Purchases Project Royalties

August 30, 2017 – Vancouver, BC, Canada – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced the signing of a purchase agreement to acquire 100 percent ownership of additional claims expanding the West Madsen gold project in the Red Lake Gold District of Ontario.  The Company is also purchasing all Net Smelter Royalties (“NSRs”) on the West Madsen project.

Key details of the Company’s recent acquisitions are:

  • The West Madsen project is now directly contiguous with Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property
  • Great Bear’s West Madsen project now comes within 2.2 kilometres of active exploration by Pure Gold at the Starratt Olsen Mine
  • The property overlies along-strike continuities of the Balmer assemblage greenstone belt which hosts the adjacent historical Madsen and Starratt Olsen Mines
  • Recent logging road construction has opened the area to cost-effective exploration for the first time
  • The West Madsen project area has been expanded to 2725 hectares from an original 2000 hectares
  • Total remaining payments of $124,000 over four years plus payment of 100,000 common shares of Great Bear to acquire a 100% interest in the expanded West Madsen property
  • All royalties at the Madsen project are now being purchased for payment of 200,000 common shares of Great Bear

Together with the Dixie Lake Project, Great Bear now has agreements in place to control over 4400 hectares of the prospective greenstone belts which host all of the active mines and past producers in the Red Lake district.

The Agreement

Under the terms of the Agreement, Great Bear must issue 100,000 shares and pay a total of $74,000 to the project vendor, a private individual, in order to acquire a 100% interest in three mineral claims that expand the West Madsen project, according to the following schedule:

  1. $12,000 cash within 7 business days of signing;
  2. 100,000 Shares within 7 business days of receiving approval of the Exchange for the issuance of the Shares;
  3. $12,000 on or before the first anniversary;
  4. $14,000 on or before the second anniversary;
  5. $16,000 on or before the third anniversary; and
  6. $20,000 on or before the fourth anniversary.

Figure 1: Great Bear’s expanded West Madsen property consists of two claim blocks.  The eastern block has been extended to be contiguous with Pure Gold’s Madsen project.

About Great Bear

Great Bear’s primary assets are the Dixie Lake and West Madsen properties in the Red Lake gold mining district of Ontario.

Details of the West Madsen project are provided above.  The Dixie Lake property overlies a structurally-controlled from-surface gold-mineralized zone with over 1.7 kilometres of strike length and several satellite zones.  The project is located 20 kilometres south of Red Lake and is road accessible year-round.  Over 160 drill holes were completed between the late 1980’s and 2012 at the Dixie Lake project, with an additional 8 drill holes completed by Great Bear in July 2017 from which assays are pending.  Highlights of historical drilling include 12.34 m of 7.54 g/t gold, and 3.82 m of 17.22 g/t gold.  Great Bear has the option to purchase a 100% interest and all royalties to the Dixie Lake project for a remaining $170,000 in total payments.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for GBR, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-681-0037 or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

info@greatbearresources.ca

www.greatbearresources.ca

 

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear Completes Phase 1 Drilling at Dixie Lake

August 9, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has completed Phase 1 drilling at the Dixie Lake gold project in the Red Lake district of Ontario.

The Company completed 1047 metres of drilling with eight diamond drill holes along 450 metres of strike of the main mineralized zone on the project.  Drill holes tested mineralization between approximately 30 and 110 metres vertically from surface.  Drill core has been submitted for assay and the Company is expecting to receive results within approximately four weeks.

Drill holes were planned to answer the following questions:

  • Is the mineralized zone controlled by particular geological units or rather by deep-seated structure that cuts all units, and
  • Does mineralization appear to be continuous between historic and current drilling?

Great Bear’s geologists noted that mineralization appears to be predominantly structurally controlled, and is hosted by a variety of lithologies, including volcanic and sedimentary units.  All drill holes encountered mineralization in the form of silicification and local brecciation plus various sulphide minerals.

Results to date support a steeply-dipping, structurally controlled gold mineralized system similar to most deposits in the Red Lake district.  Mineralization appears continuous between historic and current drill intercepts, and is known to extend from surface to over 500 metres vertically where it remains open to extension.  The mineralized zone has been historically drilled and trenched along approximately 1.5 kilometres of strike.

The Company will provide guidance on Phase 2 drilling once assays have been received.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear Completes $420,000 Private Placement

July 31, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has closed a non-brokered private placement for gross proceeds of $420,000.

The Company has issued 1,680,000 units at a price of $0.25, with each unit consisting of one common share and one half of one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.35 per share for a period of twenty-four (24) months.  The securities issued by Great Bear in connection with the private placement will be subject to a four month hold period as prescribed by applicable securities laws.  The common share purchase warrants are subject to acceleration at the Company’s discretion subsequent to expiration of the initial hold period, in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.45 or more for a period of ten consecutive trading days.  Insiders participated for a portion of the placement.

Proceeds will be used to advance the Company’s projects in the Red Lake district of Ontario, as well as for general working capital purposes.  The private placement is subject to Exchange approval.

Great Bear’s principal assets are the Dixie Lake and West Madsen gold projects located in the Red Lake district of Ontario.  The Dixie Lake project is road-accessible and consists of a from-surface structurally-controlled gold mineralized zone with over 1.5 kilometres of strike length and over 160 drill holes with mineralization from surface to over 500 vertical metres depth, which remains open to extension along strike and at depth.  The West Madsen properties are also road-accessible and consist of two claim blocks located along the strike-extension of regional structures that control gold mineralization at the nearby Madsen mine of Pure Gold Mining Inc. (TSX-V: PGM).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

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.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor