Great Bear Expands Red Lake Drilling to 10,000 Metres and Announces Private Placement

April 19, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced expansion of its ongoing 3,000 metre drill program in the Red Lake district, Ontario to 10,000 metres.

Great Bear’s President and CEO Chris Taylor said, “We have completed eight of twelve planned drill holes, and are expanding our current work program to include up to 10,000 total metres of drilling and up to 30 additional drill holes.  We will continue to explore our high-grade gold zones at Dixie Lake and their extensions, as well as newly-defined gold-bearing structures at West Madsen.”

Drilling is expected to conclude at Dixie Lake in the coming days due to spring thaw, but will resume approximately one month later when road access is clear.  Assay results from the current drilling are expected to be available at that time for further drill planning purposes.  A concurrent field program consisting of geological mapping, prospecting, trenching and drill targeting will be undertaken from May to August at both Dixie Lake and West Madsen.

 

Private Placement

To fund the expanded drill program, and subject to regulatory approval, the Company will undertake a non-brokered private placement consisting of both non-flow-through and flow-through unit offerings.  The Company will issue up to 4,000,000 NFT Units and up to 3,448,276 FT Units, for total gross proceeds of up to $2,000,000.

Each non-flow-through unit (each, a “NFT Unit”) will be issued at a price of $0.50 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 $0.70 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 $0.83 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 $0.58 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 $0.70 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 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.

 

Project Update

All drill holes completed to-date during Phase 2 drilling at the Company’s flagship Dixie Lake project have successfully reached target depths and all results are pending at the time of this news release.  Core logging continues, and 5 of the 8 completed drill holes have been sent for assay to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis.

The Company has noted increased claim staking and drilling activity in the immediate vicinity of its West Madsen property, which is contiguous with the Madsen mine property of Pure Gold Mining Inc. (TSX-V: PGM; “Pure Gold”).  Recent drill results reported by Pure Gold at Madsen include 8.3 m of 33.3 g/t gold and 2.0 m of 22.5 g/t gold from the “Wedge Zone”, located less than 1.5 kilometres from Great Bear’s West Madsen claims.  Gold mineralization at the Wedge Zone has been reported by Pure Gold to be hosted by blue-grey quartz veins and controlled by a major through-going structure.  This structure strikes towards Great Bear’s property.

Three major gold-bearing structural trends have been identified at West Madsen using the Company’s 2017 high-resolution airborne magnetic survey combined with historical assessment work and the Company’s own prospecting.  These cross several kilometres of strike length at Great Bear’s West Madsen Block A.  One of these trends is interpreted to represent the on-strike extension of the structural corridor that also hosts the Wedge Zone.  This trend is known to be gold bearing on Great Bear’s property, as prospecting within a large exploration trench during summer 2017 returned 0.9 g/t gold from a broad area of silicified, sulphide-bearing alteration (see Great Bear news release of November 14, 2017).

Maps of Great Bear’s projects and summaries of results to-date can be found at the Company’s web site at www.greatbearresources.ca.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 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.

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 Provides Drilling Update for Dixie Lake Gold Project, Red Lake District, Ontario

April 5, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today provided an update on Phase 2 drilling at its Dixie Lake gold project, located in the Red Lake district of Ontario.

Drilling commenced on March 14, 2018 and is ongoing.  Seven drill holes have been completed at this time, while an estimated 8 holes remain to be drilled.  The first two of the seven completed drill holes have been sent for assay to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis.  The remaining holes are being geologically logged and split prior to shipment for assay.

Chris Taylor, Great Bear’s President and CEO said, “Drilling is on time and on budget as we progress through our Phase 2 drill program.  We are stepping out from our Phase 1 drill locations to target on-strike extensions to the known mineralization, and to place the first characterization holes into new targets at the South Limb, Hinge and Northwest extension that have not yet been drilled by Great Bear.  Results from the first 8 -10 holes will provide guidance for the final drill holes of this program, as we aim to define the geometry, strength and geological controls on mineralization in these new areas.”

Details of the current drill program were reported by the Company on November 2, 2017 and January 16, 2018.  The Company will release batches of drill results as these become available.

The Phase 2 drill program is expected to continue until spring thaw temporarily restricts road access.  When ground conditions permit, field investigations will resume across the Company’s Dixie Lake and West Madsen properties.  In addition to ongoing drilling in and around the Main Zone at Dixie Lake, the Company is identifying additional targets for summer exploration where historical prospecting results, and the Company’s own high-resolution geophysical survey results, show high prospectively for additional gold mineralization.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 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.

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 Mobilizes Crews for Drill Program at Dixie Lake Gold Project, Red Lake District

March 1, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced that crews are being mobilized for the Phase 2 drill program at its Dixie Lake gold project, located in the Red Lake district of Ontario.

The 3,000 metre Phase 2 drilling program is designed to test four zones on the property: Dixie, Hinge, South Limb and NW zones.  The Dixie zone was drilled by GBR in the summer of 2017, with significant gold results in all holes drilled.  See news release dated September 7, 2017 and November 2, 2017 which included a highlight interval of 10.40 m of 16.84 g/t gold.  The Hinge zone was drilled in 2008 and 2010 by previous operators and the South Limb was last drilled in 2004. The NW zone, located approximately 1.7 km northwest of the Dixie zone, was last drilled in 2005; mineralization similar in nature to the Dixie zone was intersected.  A table of historical drill result highlights from Dixie Lake is provided in Table 1 below.

Table 1: Highlighted results from the Dixie Lake Project

Hole From(m) To (m) Width (m) Gold (g/t) Area
DC-10-07 181.83 182.30 0.47 163.75 Hinge Zone
DC-10-07 and 201.12 203.12 2.00 32.65 Hinge Zone
DC-10-07 including 202.12 203.12 1.00 61.97 Hinge Zone
DC-10-07 and including 199.30 203.12 3.82 17.22 Hinge Zone
DC-08-01R 127.60 129.80 2.20 17.20 Hinge Zone
DC-08-01R including 127.60 128.90 1.30 22.93 Hinge Zone
DC-18-07 156.83 158.17 1.34 7.04 Hinge Zone
DC-18-07 including 157.80 158.17 0.37 24.41 Hinge Zone
DL-005 162.60 173.00 10.40 16.84 Dixie Zone
DL-005 including 164.60 172.45 7.85 21.53 Dixie Zone
DL-005 and including 170.75 172.45 1.70 82.54 Dixie Zone
DL-005 and including 171.40 172.45 1.05 130.10 Dixie Zone
DL-04-06 333.33 345.67 12.34 7.54 Dixie Zone
DL-04-06 including 335.42 342.49 7.07 12.26 Dixie Zone
DL-04-06 and including 335.42 336.88 1.46 40.27 Dixie Zone
DL-89-9 49.83 52.66 2.83 15.56 Dixie Zone
DL-89-9 including 51.48 52.66 1.18 30.58 Dixie Zone
DL-11-05 132.2 138.5 6.3 10.78 Dixie Zone
DL-11-05 including 134.7 138.5 3.8 14.76 Dixie Zone
DL-11-05 and including 135.8 137.00 1.2 30.48 Dixie Zone
DL-03-08 123.80 129.05 5.25 7.44 Dixie Zone
DL-03-08 including 124.36 129.05 4.69 8.09 Dixie Zone
DL-03-08 and including 127.19 127.76 0.57 39.70 Dixie Zone
DL-03-08 and including 127.19 129.05 1.86 14.64 Dixie Zone
DL-04-04 including 229.07 232.15 3.08 13.63 Dixie Zone
DL-04-04 and including 230.05 232.15 2.10 18.46 Dixie Zone
DL-04-04 and including 230.82 232.15 1.33 23.32 Dixie Zone
DC-04-07 216.00 218.00 2.00 5.02 South Limb
DC-04-07 including 217.00 218.00 1.00 9.01 South Limb

*Great Bear has verified historical drill results against original drill logs and assay certificates.  Great Bear has re-sampled selected intervals of historical drill to verify results.  Width is expressed as core length and does not represent true width.

Stock Option Grant

The Company has also granted an aggregate of 565,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.51 per share for a period of five years.

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 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.

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 Provides Drill Program Update

January 16, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced completion of drill hole planning and preparation for a Phase 2 drill program at the Dixie Lake gold project, located in the Red Lake district of Ontario.

The drill program will focus on:

  • Extending the strike length of known gold mineralization within the main gold-bearing structure,
  • Testing high-grade gold mineralization at depths of up to 200 metres, and
  • Testing additional gold zones and prospective geophysical targets within the main gold structure

The program will consist of approximately 3,000 metres of diamond drilling in 15 – 20 drill holes across 2 kilometres of strike length. Four areas will be drill-tested, as shown on Figure 1 below.

Figure 1: Areas to be targeted with Phase 2 drilling

Four primary areas will be drill tested during Phase 2 drilling as described below.

Area 1 (Dixie Structure): Follow-up drilling along the main Dixie structure where the Company completed its 2017 drill program. The primary targets in this area are down-plunge extensions of high grade gold intercepts, including those disclosed by the Company on September 7 and November 2, 2017. The Company believes sufficient structural information has been collected to predict gold zone geometries and will test the continuity of higher grade gold mineralization at depths of up to 200 metres.

Current results suggest 3 – 5 zones of higher grade gold are present within a continuously gold mineralized structure defined by 70 drill holes to-date, along 500 m of strike length. Steeply-dipping structurally-hosted gold zones are common in Red Lake and can increase in grade with depth.

Area 2 (Hinge Zone): Drill test the “Hinge Zone” of the main Dixie structure. This area was drilled in 2007 and 2008 by previous explorers but has not yet been drilled by Great Bear. It may represent the hinge of the main Dixie Lake structure where the gold zone has been tightly to isoclinally folded. This area yielded the highest grade historical intercepts on the project, prior to Great Bear’s drilling. Highlights from the historical drilling are shown in Table 1 below.

Table 1: Historical drill results from the Hinge zone

Hole Number From (m) To (m) Width (m)* Au (g/t)
DC-10-07 181.83 182.30 0.47 163.75
DC-10-07 and 201.12 203.12 2.00 32.65
DC-10-07 including 202.12 203.12 1.00 61.97
DC-10-07 and including 199.30 203.12 3.82 17.22
DC-08-01IR 127.60 129.80 2.20 17.20
DC-08-01IR including 127.60 128.90 1.30 22.93
DC-18-07 156.83 158.17 1.34 7.04
DC-18-07 including 157.80 158.17 0.37 24.41

Area 3 (South Limb): If the main Dixie Lake gold structure is tightly folded, the zone drilled by Great Bear during its Phase 1 program may be repeated on the other limb of this fold. The Company will now drill test the southern limb during Phase 2 drilling. Sporadic historical drilling returned a high value of 15.06 m of 2.23 g/t Gold including 1.0 m of 9.01 g/t gold. The geometry of gold mineralization in this area will inform the Company whether gold mineralization pre- or post-dates the folding, which will be critical to later defining total mineralized volumes in Areas 1, 2 and 3.

Area 4 (Northwest Limb): The Company recently extended its claims into this area to control the on-strike extension of the main Dixie Lake gold structure, as disclosed on September 5, 2017.  Great Bear will now drill test the area around a historical drill hole which returned 7.0 m of 2.0 g/t gold including 1.0 m of 10.47 g/t gold. Recent analysis by Great Bear strongly suggests that this interval has the same mineralization characteristics, and matching host rock descriptions to holes drilled by the Company within the main Dixie Lake structure, approximately 2 kilometres away.  The 2017 airborne geophysical survey carried out by the Company shows a continuous magnetic anomaly between the main Dixie Structure and this 2005 drill hole. Successful confirmation of gold mineralization in this area would suggest significant on-strike potential for gold mineralization along the Dixie structure, which has been geophysically interpreted to extend for over 20 kilometres on Great Bear’s claims, as disclosed by the Company on November 2, 2017, and as shown on Figure 2.

Figure 2: 20 kilometres of the Dixie gold structure as interpreted from a high-resolution geophysical survey completed by Great Bear in 2017. Area of Phase 2 drilling shown in inset

Drilling will begin in Areas 1, 2 and 3, and will proceed to Area 4 when approvals are received for an extended drill area.  Drilling is expected to begin in the first two weeks of February and will proceed for 4 – 8 weeks once underway.

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure like that hosting other producing gold mines in the district. The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 15.89 g/t gold. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 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.

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

About the Assay Techniques

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.

Selected samples of coarse reject splits from intervals that included visible gold were subjected to additional metallic screening protocols consisting of a representative 1000 gram split sieved at 100 mesh (149 micron), with assays performed on the entire +100 mesh and 2 splits of the -100 mesh fraction. A  final assay was calculated based on the weight of each fraction.

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 $1,018,650 Private Placement

December 29, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has closed a fully-subscribed private placement, previously announced December 13, 2017, for gross proceeds of $1,018,650.

The Company also reports it has received a mineral exploration grant from the Government of Ontario in the amount of $100,000.  The 2017 Junior Exploration Assistance Program (“JEAP”) provides incentives to qualified corporations for grassroots mineral exploration in Northern Ontario.  The program “is designed to stimulate these activities in order to help discover the new mines of tomorrow.” (http://www.ontarioprospectors.com/opawp/wp-content/uploads/2016/03/JEAP_Guidebook-and-Forms-2016_Final.pdf ).

The Company also reports it has received a scheduled $150,000 payment from Mountain Boy Minerals Ltd. (TSX-V: MTB) who are optioning Great Bear’s 50% interest in the BA and Surprise Creek properties in the Golden Triangle area of British Columbia.

Collectively, the Company has raised gross proceeds of $1,268,650 during December 2017 and is financed to complete Phase 2 drilling at Dixie Lake, which is slated to begin in January 2018.  The program is expected to consist of at least 3,000 metres of diamond drilling, testing various gold targets at Dixie Lake, and has an anticipated all-inclusive budget of $700,000.

In connection with the current placement, the Company has issued 1,751,834 non-flow-through units (each, a “NFT Unit”) at a price of $0.30, 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 $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants are 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.

The Company has also issued 1,408,857 flow-through units (each, a “FT Unit”) at a price of $0.35, 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 $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants are subject to acceleration on the same terms as the NFT Unit warrants. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.

The securities issued by Great Bear in connection with the private placement are subject to a four month hold period as prescribed by applicable securities laws.  Insiders participated for a portion of the placement. In connection with closing of the placement the Company paid finders’ fees of $20,310.

Following issuance of securities related to this placement, Great Bear will have approximately 17.6 million common shares issued and outstanding.

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 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.

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 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