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

 

 

Great Bear Acquires Right to Purchase 100% Interest in Dixie Lake Gold Project, Red Lake, Ontario

July 17, 2017 – Vancouver, BC, Canada – Great Bear Resources LTD (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has entered into a Purchase Agreement (the “Agreement”) with Newmont Canada Holdings, ULC (“Newmont”), a subsidiary of Newmont Mining Corporation (NYSE: NEM) to acquire Newmont’s 33% interest in the Dixie Lake project, located in the Red Lake district of Ontario.  The Agreement advances Great Bear’s goal of obtaining a 100% ownership interest in the project, and is subject to Exchange approval.

Under the terms of the Agreement, Great Bear must pay $80,000 over four years to purchase all of Newmont’s 33% interest in the project.  The purchase can be accelerated at any time at Great Bear’s discretion.  On December 16, 2015, Great Bear announced an option to purchase a 67% interest in Dixie Lake from a private vendor.  Currently, $90,000 in payments over two years remain due under the terms of the original purchase agreement.  Upon completion of both purchases, Great Bear will own 100% of the Dixie Lake gold project and all project royalties.

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.  Highlighted drill results are provided in Table 1.

The Company is similarly purchasing a 100% interest in the West Madsen gold project, also located in the Red Lake district, with remaining payments of $58,000 over the next three years.  The West Madsen project is subject to a 1.5% net smelter return (“NSR”) to the underlying vendor, half of which can be bought for $500,000.  Great Bear has a right of first refusal on the sale of the remaining 0.75% NSR.

The West Madsen project consists of two claim blocks located along the newly identified geological continuity 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 eastern block is situated 3 kilometres to the west of Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property; each block is roughly 6 kilometres by 3 kilometres in size, for a total area of 2000 hectares.

Between the Dixie Lake project and the West Madsen project, Great Bear now controls 3750 hectares of the prospective greenstone belts which host all of the active mines and past producers in the Red Lake district.

Table 1:  Highlighted drill intercepts from Dixie Lake showing gold results at a range of drill indicated depths and widths.  Drilling across 1.7 kilometres of strike length, with zones remaining open along strike and at depth.

Drill Hole From

(m)

To

(m)

Width*

(m)

Gold**

(g/t)

DL-89-9 49.83 52.66 2.83 15.56
DL-03-06 67.91 72.22 4.31 5.79
DL-89-2 119.72 129.2 9.48 2.87
DL-03-08 123.8 129.05 5.25 7.44
including 127.19 129.05 1.86 14.64
DC-08-01R 127.6 129.8 2.2 17.2
DL-89-17 161.84 176.57 14.73 3.25
DL-04-01 168.68 179.56 10.88 2.87
DC-15-07 176.6 182.95 6.35 4.28
DL-2005-09 181.7 186.2 4.50 5.95
DC-10-07 181.83 182.3 0.47 163.75
DC-10-07 199.3 203.12 3.82 17.22
213.57 222.8 9.23 3.13
DL-04-04 222.9 232.77 9.87 5.08
DL-04-07 269.39 284.45 15.06 2.23
DL-03-05 275.76 291 15.24 2.28
DL-04-06 333.33 345.67 12.34 7.54
DL-04-11 497.76 510.64 12.88 2.51

 

**Great Bear has verified historical drill results against original drill logs and assay certificates.  Great Bear has re-sampled selected intervals of historical drill core where available and will compare against historical results when assay results are received. * width is expressed as core length and does not represent true width.

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 Focuses on Red Lake Gold – Grants Option to Earn its 50 Percent Interest in Golden Triangle Properties

June 2, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced that it has granted an option to its joint venture partner, Mountain Boy Minerals Ltd. (TSX-V: MTB; “Mountain Boy”), to acquire the Company’s 50 percent interest in and to each of the “BA” and “Surprise Creek” joint ventures and associated properties.

Currently, each of the Company and Mountain Boy hold 50 percent interests in the B.A. and Surprise Creek joint ventures, and the Company is the operator of the B.A. joint venture and Mountain Boy is the operator of the Surprise Creek joint venture.

Under the option agreement, Mountain Boy will pay:

  • $1.3 million in stages between August 20, 2017 and August 20, 2020, including $300,000 in 2017
  • Issue the Company a total of 10 million shares in stages between the date of Exchange acceptance and April 15, 2020
  • $200,000 upon completion of a NI 43-101 compliant Mineral Resource at the Surprise Creek property,
  • $200,000 upon completion of a Pre-Feasibility Study on the Surprise Creek property,
  • $800,000 upon commencement of construction of a mine to extract ore from the Surprise Creek property
  • $400,000 upon completion of a NI 43-101 compliant Mineral Resource at the BA property
  • $500,000 upon completion of a Pre-feasibility study on the BA property
  • $1,600,000 upon commencement of construction of a mine to extract ore from the BA property
  • Great Bear will retain a Right of First Refusal on the sale of both the Surprise Creek and BA properties, should Mountain Boy enter into sale agreement on either project in whole or in part with a third party.

The joint ventures will be suspended during the period of the option, and if Mountain Boy elects not exercise an option or fails to make any payments or share issuances to the Company in respect of either optioned property, the joint venture between the Company and Mountain Boy will resume in respect of that property at 50 percent interest owned by each Company.

In management’s view, the Exchange may deem the option to be a reviewable transaction.  The option is subject to Exchange approval.

Through sale of its 50 percent interests in the BA and Surprise Creek projects, capital that would have been required for exploration in British Columbia will instead become available for exploration in the Red Lake district of Ontario.

Great Bear’s Focus on Red Lake

Beginning in 2015, Great Bear management expanded the Company’s focus to include road-accessible projects in the Red Lake district of Ontario, where it is now exploring two gold projects.

Figure 1: Great Bear’s Red Lake properties are located on the district’s primary greenstone belts

The Company is purchasing a 67 percent interest in the Dixie Lake project, with $90,000 remaining in payments over three years, and a 100 percent interest in the West Madsen gold project, with remaining payments of $58,000 over the next three years.  All outstanding royalties at Dixie Lake project are being acquired by Great Bear through its purchase agreement, while the West Madsen project is subject to a 1.5% net smelter return (“NSR”) to the underlying vendor, half of which can be bought for $500,000.  Great Bear has a right of first refusal on the sale of the remaining 0.75% NSR.

The Dixie Lake property overlies a from-surface gold-mineralized zone and several satellite zones with over 160 historical drill holes and results including those highlighted in Table 1.  Holes were drilled by Teck Exploration and Mutual Resources (1989-1990) , Canadian Golden Dragon Resources (1996-1997), Alberta Star and Fronteer Exploration (2003-2004), and Grandview Gold (2005-2011).

Table 1:  Highlighted intercepts showing gold results at a range of drill indicated depths and widths.  Drilling across 1.7 kilometres of strike length, with zones remain open along strike and at depth.

Drill Hole From

(m)

To

(m)

Width*

(m)

Gold**

(g/t)

DL-89-9 49.83 52.66 2.83 15.56
DL-03-06 67.91 72.22 4.31 5.79
DL-89-2 119.72 129.2 9.48 2.87
DL-03-08 123.8 129.05 5.25 7.44
including 127.19 129.05 1.86 14.64
DC-08-01R 127.6 129.8 2.2 17.2
DL-89-17 161.84 176.57 14.73 3.25
DL-04-01 168.68 179.56 10.88 2.87
DC-15-07 176.6 182.95 6.35 4.28
DL-2005-09 181.7 186.2 4.50 5.95
DC-10-07 181.83 182.3 0.47 163.75
DC-10-07 199.3 203.12 3.82 17.22
213.57 222.8 9.23 3.13
DL-04-04 222.9 232.77 9.87 5.08
DL-04-07 269.39 284.45 15.06 2.23
DL-03-05 275.76 291 15.24 2.28
DL-04-06 333.33 345.67 12.34 7.54
DL-04-11 497.76 510.64 12.88 2.51

**Great Bear has verified historical drill results against original drill logs and assay certificates.  Great Bear has re-sampled selected intervals of historical drill core where available and will compare against historical results when assay results are received. * width is expressed as core length and does not represent true width.

The West Madsen project consists of two claim blocks located along the newly identified geological continuity 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 eastern block is situated 3 kilometres to the west of Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property; each block is roughly 6 kilometres by 3 kilometres in size, for a total area of 2000 hectares.  Between the Dixie Lake project and the West Madsen gold project, Great Bear now controls 3750 hectares of the prospective greenstone belts which host all of the active mines and past producers in the Red Lake district.

Great Bear announced the commencement of field investigations at the Dixie Lake project on April 18, 2017.  The Company’s geologists have now re-logged a selection of historical drill holes and are updating the Company’s model of the main gold zone.  This will resolve geological differences between generations of work dating back to the 1980’s, and provide a coherent framework for the Company’s own drilling.

A 1000 metre Phase 1 drill program is slated to begin in June 2017 that will test continuity and strength of gold mineralization across approximately one kilometre of strike, down to vertical depths of approximately 100 metres.  This will allow more precise modeling of the plunge of mineralized zones near surface, in order to guide further drilling.

The Phase 1 exploration program is expected to cost approximately $300,000.  The Company is currently fully funded and will not require additional financing to execute this program.  Phase 2 drilling is expected to occur upon receipt of Phase 1 drill results and will consist of a more extensive diamond drill campaign that will test:

  • Continuity of gold mineralization within the main zones,
  • Continuation of mineralization from surface to over 500 metres vertical depth, and
  • Gold mineralization in satellite zones across the Dixie Lake project that have encouraging historical results

Field crews have also begun geological mapping and prospecting of the West Madsen projects.  Results will guide upcoming work, with the intention of identifying drill targets by the close of 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 OF DIRECTORS

“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, other than as required by applicable securities laws.

Great Bear to Begin Drilling at Dixie Lake Gold Project in Red Lake District, Ontario

April 18, 2017 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced the start of exploration work and diamond drilling in the Red Lake Gold District of Ontario.  Great Bear is purchasing a 67% interest in the Dixie Lake project, a from-surface gold system that includes high grade gold intercepts open along strike and at depth.  Newmont Mining Corp. (NYSE: NEM; “Newmont”) has a 33% participating interest in the Dixie Lake project.

Key features of the Dixie Lake Project are:

  • New detailed 3D geological modelling completed by Great Bear suggests that gold mineralization occurs along a continuous 1.7 kilometres of strike length with intercepts from surface to over 400 metres vertical depth, and remains open at depth and along strike.
  • High grade gold intercepts in historic drilling, including 7.54 g/t over 12.34 metres, 163.75 g/t over 0.47 metres and 32.65 g/t over 2.0 metres.
  • Comparable drill-indicated widths and gold mineralization grades to other Red Lake gold projects such as the Rahill-Bonanza Project of Premier Gold Mines Ltd. (TSE: PG) and Red Lake Gold Mines Ltd., an affiliate of Goldcorp (TSE: G)
  • Dixie Lake project consists of 49 mining claims, located 24 kilometres south of Red Lake, Ontario
  • Infrastructure advantages include all season road access and power lines which cross the property
  • No outstanding royalties

“The Red Lake district is famous for hosting vertically extensive high grade gold mineralization, with Goldcorp’s (TSX: G) Red Lake mine yielding gold for more than 2,500 vertical metres, and generally increasing tenor with depth,” said Chris Taylor, Great Bear’s President and CEO. “Dixie Lake stands out as having high grade gold results near surface that continue to the deepest tested intercept of 420 vertical metres.   With this Phase 1 drill program, Great Bear will test continuity and strength of gold mineralization from surface to 100 metres depth, across one kilometre of strike.  Once we have better-defined the plunge of the gold zones, follow up drilling will define the size and grade potential of the Dixie Lake system as a whole.”

Table 1:  Highlighted intercepts from historical drilling showing gold results at a range of drill indicated depths and widths.  Drill holes are presented in order of increasing intercept depth to show apparent continuity from surface to over 500 metres.  Drilling to-date is across 1.7 kilometres of strike length and zones remain open along strike and at depth.

Drill Hole From

(m)

To

(m)

Width

(m)

Gold

(g/t)

DL-2005-10 18.40 24.50 6.10 1.93
DL-89-3 32.61 36.63 4.02 4.81
DL-89-9 49.83 52.66 2.83 15.56
DL-03-06 67.91 72.22 4.31 5.79
DL-89-15 79.85 93.93 14.08 1.76
DL-89-2 119.72 129.2 9.48 2.87
DL-03-08 123.8 129.05 5.25 7.44
including 127.19 129.05 1.86 14.64
DC-08-01R 127.6 129.8 2.2 17.2
DL-89-17 161.84 176.57 14.73 3.25
DL-04-01 168.68 179.56 10.88 2.87
DC-15-07 176.6 182.95 6.35 4.28
DL-2005-09 181.7 186.2 4.50 5.95
DC-10-07 181.83 182.3 0.47 163.75
DC-10-07 199.3 203.12 3.82 17.22
213.57 222.8 9.23 3.13
DL-04-04 222.9 232.77 9.87 5.08
including 229.07 232.15 3.08 13.63
DL-04-07 269.39 284.45 15.06 2.23
DL-03-05 275.76 291 15.24 2.28
DL-04-06 333.33 345.67 12.34 7.54
including 335.42 342.49 7.07 12.26
DL-04-10 469.71 478.29 8.58 2.22
DL-04-11 497.76 510.64 12.88 2.51

Great Bear has verified historical drill results against original drill logs and assay certificates.  Great Bear has not conducted any re-sampling of historical drill core.

Exploration Program Details

The 2017 field program will begin the week of April 17, with approximately 30 days on site during which historical drill core will be re-logged by Great Bear’s geologists.  This will resolve geological differences between generations of work dating back to the 1980’s, and provide a coherent framework for the Company’s own drilling.  Surveying of historical drill collars will also take place to facilitate digital modeling of the mineralized zones.

During May 2017, a 1000 metre drill program will test continuity and strength of gold mineralization across approximately one kilometre of strike, down to vertical depths of approximately 100 metres.  This will allow more precise modeling of the plunge of mineralized zones near surface, in order to guide future drilling.  Current results will be compared to historical results to validate and/or re-interpret past work.

The Phase 1 exploration program is expected to cost approximately $250,000.  The Company is currently fully funded and will not require additional financing to execute this program.

The Company notes that in addition to the 77 drill holes that were completed between the late 1980’s and 2012 at the main gold zones  (historically termed the 88-4, Main, North and South Zones), a number of additional gold zones have also been tested with 87 drill holes, and have yielded encouraging results including 12 holes with highly anomalous gold values > 100 ppb and one hole which intersected 1.5m of 5.45 g/t gold approximately 1 kilometre northeast of the main gold zones.  These zones will be mapped and sampled during the Phase 1 program to allow prioritization for follow-up work.

Great Bear must pay $70,000 over the next two years to a private vendor to complete its purchase of the Dixie Lake project, which can be accelerated at any time at the Company’s discretion.  Upon completion of the purchase, Great Bear will hold 67% of the property interest and all Net Smelter Royalties currently held by the vendor.  Newmont Mining Corporation owns 33% of the property and must elect to contribute to on-going exploration expenditures in order to maintain that ownership percentage.

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