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

4.31% Zn, 0.11 g/t Au, 44 g/t Ag and 0.33% Cu across 4.58 m at the Surprise Creek Property

February 2, 2017 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced drill results from its 50% owned Surprise Creek project in the Golden Triangle region of British Columbia.  Results were reported by Mountain Boy Minerals Ltd. (TSX-V: MTB; “Mountain Boy”), Great Bear’s joint venture partner and operator of the Surprise Creek exploration program.  Drilling tested the Ataman zone, a polymetallic VMS-related occurrence that is being explored by Mountain Boy.

Highlights of drill results include 4.31% zinc, 44.75 g/t silver, 0.33% copper and 67% barite across 4.58 m in drill hole SC-2.  Mineralized intervals from SC-2 are provided in Table 1.

Table 1: Mineralized Intervals from drill hole SC-2 at the Ataman zone.  All widths are drill indicated. Drilling was approximately perpendicular to the zone.

Hole # From

(m)

To

(m)

Width

(m)

Au

(g/t)

Ag

(g/t)

Zn

(%)

Pb

(%)

Cu

(%)

BaSo4 (%)
SC-2 58.26 77.20 18.94 0.12 28.0 1.21 0.03 0.31 46.73
Incl. 58.26 62.84 4.58 0.11 44.75 4.31 0.05 0.33 67.00
Incl. 58.26 60.40 2.14 0.09 70.7 6.49 0.09 0.56 60.48

Two drill holes targeted the Ataman zone in late 2016.  Hole SC-1 was drilled parallel to the zone and did not intersect significant mineralization.  Hole SC-2, drilled across the zone, successfully intersected mineralization but was terminated prematurely due to inclement weather and appears to have ended in mineralization.   Mountain Boy reports extensive barite mineralization occurs with other polymetallic VMS style mineralization at the Ataman zone and has been traced across approximately 1.2 kilometres of strike length.

Great Bear’s Golden Triangle Projects

Great Bear’s Golden Triangle district assets are its 50% owned BA and Surprise Creek zinc-silver-lead properties.

The BA project covers stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations.  In 2010, Great Bear completed a 82 hole, 15,000 metre drill program.  Results include 106.71 m (core length) of 81 g/t silver, 1.37% lead and 1.62% zinc in drill hole BA-2007-5, and the discovery of higher grade “feeder” zones such as 7.5 m of 8.41% zinc, 1.11% lead and 66 g/t silver in hole BA-2007-10, and 13.10 m of 4.11% zinc, 1.37% lead and 137 g/t silver in hole BA-2007-28.

The Surprise Creek project is operated by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) and consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A.  The project  covers much of the same stratigraphy as BA.  Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.  Results from the 2016 Ataman drilling have not been verified by Great Bear.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 778-327-5799, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

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 Identifies High Grade VMS Targets and Expands BA Property

Great Bear Identifies High Grade VMS Targets and Expands BA Property

January 17, 2017 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced that it has identified high grade polymetallic mineralization to be targeted in 2017, and has expanded its 50% owned BA property through staking of an additional 469 hectares.  The project now spans 25 claims totalling 10,247 hectares and includes strategic ground between the BA zone and highway 37A that is prospective for hosting extensions to mineralization.

High Grade VMS Feeder Zones

Great Bear completed a reconnaissance mapping and sampling program at the “Big Red” target, a broad area of relatively flat, deglaciated terrain showing widespread hydrothermal alteration 1.0 to 3.0 km to the north of Highway 37A.  A suite of character samples were collected from altered and mineralized showings within Lower Hazleton Group volcanic hosts.  High grade zinc, lead and silver, plus zones of copper and gold mineralization, were discovered across a 3 km by 2 km area.  Results are consistent with high grade polymetallic VMS feeder style mineralization controlled by generally southeast striking high-angle structures.  Highlights are summarized in the table below, and include sample BR 7222 returning 20.3% zinc, 6.73% lead, 255 g/t silver, 0.37% copper and 100 ppb gold.  Great Bear intends to undertake follow up exploration in the Big Red area in 2017.

Table 1: Highlighted sample results from the Big Red area

Sample Zinc(%) Lead(%) Silver(g/t) Copper(%) Gold(ppb)
BR 7211 0.00 14.30 1080 0.03 39
BR 7213 0.09 32.40 417 0.04 0
BR 7219 0.03 0.01 14 1.57 0
BR 7221 0.04 0.01 15 1.67 0
BR 7222 20.30 6.73 255 0.37 100
BR 7368 9.13 6.77 50 0.07 0
BR 7377 33.10 1.57 192 0.34 71
BR 7378 1.61 0.15 3 0.00 459
BR 7379 9.94 6.03 98 0.01 51
BR 7380 4.62 0.94 169 0.10 94
BR 7603 0.03 0.01 13 1.46 0
BR 7608 0.01 0.00 7 4.41 142

Chris Taylor, CEO of Great Bear said, “The strong metal endowment of these new showings combines with their proximity to the highway to create a compelling driver for upcoming exploration.  We prospected this area in 2011, but recent analysis has shown that widespread alteration is associated with a number of high grade polymetallic VMS feeders.  These define stand-alone, potentially high-value targets, but may also be associated with related VMS horizons similar to the BA zone.  Big Red will be further explored in 2017, in order to map the extent of these high grade zones, and define drill targets.”

Figure 1:  Map  showing newly staked land expanding the BA project towards Highway 37A, the location of the Big Red showings, and adjacent properties owned by IDM Mining Ltd. (TSX-V: IDM) and Millrock Resources Inc. (TSX-V: MRO).  Blank area on the map are owned by other parties.  Silver values are shown for simplicity, but results for other metals will be posted to Great Bear’s web site at www.greatbearresources.ca

 

Extending the BA Zone

Great Bear’s primary focus at the BA project is the BA zone, which is the surface exposure of a large VMS system that has been drilled-tested over 1.5 kilometres of strike length.  In 2016 the Company trenched a zone of enriched polymetallic mineralization comprising several percent combined zinc and lead, plus silver that runs along the strike of the BA zone (shown in Figure 1).  Results released by Great Bear on December 8, 2016 include 7.50 m of 5.31% Zn, 1.97% Pb and 132 g/t Ag within 15.0 m of 3.84% Zn, 1.25% Pb and 108 g/t Ag.

The newly staked land is directly along the strike of the north-easterly trend of the BA zone, and is highly prospective for extensions to that mineralization.  It is also strategically located to improve access to highway 37A.

Great Bear’s Golden Triangle Projects

Great Bear’s Golden Triangle district assets are its 50% owned BA and Surprise Creek zinc-silver-lead properties.

The BA project covers stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations.  In 2010, Great Bear completed a 82 hole, 15,000 metre drill program.  Results include 106.71 m (core length) of 81 g/t silver, 1.37% lead and 1.62% zinc in drill hole BA-2007-5, and the discovery of higher grade “feeder” zones such as 7.5 m of 8.41% zinc, 1.11% lead and 66 g/t silver in hole BA-2007-10, and 13.10 m of 4.11% zinc, 1.37% lead and 137 g/t silver in hole BA-2007-28.

The Surprise Creek project is operated by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) and consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A.  The project  covers much of the same stratigraphy as BA.  Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.

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.

Rock assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of laboratory duplicates and standards with known precious and base metal values.  Assaying was carried out by Activation Laboratories Ltd. of Kamloops, British Columbia.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 778-327-5799, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

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

 

 

11.6% Zinc and 479 g/t Silver Sampled at Surprise Creek

November 29, 2016 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today reported results released by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) from the Ataman VMS zone at the Surprise Creek project in Golden Triangle district of British Columbia.  The Surprise Creek property is owned 50% by Great Bear and 50% by Mountain Boy, with Mountain Boy acting as operator.  The Ataman zone is located 12 kilometres north of paved Highway 37A, the main access route to Stewart, British Columbia.  Highlights of surface sampling results from the summer 2016 field program include:

  • Three grab samples collected from proximal float boulders with visible sphalerite assayed 3.04, 3.13 and 11.64% zinc
  • A sample of float composed of brecciated chert and barite fragments cemented by limonite yielded 479 g/t silver, 0.17 g/t gold, 2.45% lead and 0.70% zinc
  • A grab sample of an in-situ limestone/chert horizon with fine grained sphalerite returned 81 g/t silver, 0.22% lead and 5.53% zinc
  • A 1.0 m chip sample of barite-carbonate veining with visible galena and sphalerite returned 297 g/t silver, 0.85% lead and 3.10% zinc

Results have not been verified by Great Bear, and are provided for shareholder information purposes.

About Great Bear

Great Bear’s assets are the 50% owned BA and Surprise Creek zinc-silver-lead properties in the Golden Triangle region of British Columbia, and the Dixie Lake and West Madsen properties in the Red Lake district of Ontario, where it is respectively purchasing a 67% and 100% interest.

The BA project is operated by Great Bear and consists of 24 claims totalling 9778 Ha straddling paved Highway 37A, the primary access route to Stewart, B.C.  The property is underlain by stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations.  In 2010, Great Bear completed a 82 hole, 15,000 metre drill program targeting a 1,200 metre by 800 metre zone of zinc-silver-lead mineralized stratigraphy beginning 2.5 kilometres from the highway.  Results from that drilling and pending results from new channel sampling undertaken in 2016 are currently being evaluated to guide the Company’s upcoming 2017 work program.

The Surprise Creek project consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A.  The project is underlain by much of the same stratigraphy as BA.  Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.

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 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 to Acquire 100 Percent of West Madsen Gold Project in Red Lake Gold District

November 23, 2016 – 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 the West Madsen gold project in the Red Lake Gold District of Ontario.

Key features of the West Madsen Project are:

  • Agreement to earn 100% ownership from the underlying property vendor
  • 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
  • Property comprises two claims blocks, the eastern of which 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
  • Total purchase cost of $70,000 cash and 100,000 shares over four years

Great Bear has nearly doubled its road accessible land position in the Red Lake District with this latest acquisition.  Together with the Dixie Lake Project, Great Bear now has agreements in place to control 3750 hectares of the prospective greenstone belts which host all of the active mines and past producers in the Red Lake district.  The Dixie Lake project has returned significant high grade gold intercepts from shallow historical drilling and contains numerous drill ready targets.  The West Madsen project lies within a newly recognized extension of the same greenstone belt which hosts Pure Gold’s Madsen project, where a 77,000 metre drill program is now in progress.

“Prolific gold endowment and infrastructure advantages make the Red Lake district one of the outstanding gold mining regions of North America,” said Chris Taylor, CEO of Great Bear, “With a steady stream of excellent results being generated by Pure Gold at Madsen, the on strike extensions of those gold-hosting units and major control structures including recently mapped folded mafic sequences make the West Madsen property an obvious target for exploration.”

The Agreement

Under the terms of the Agreement, Great Bear must issue 100,000 shares and pay a total of $70,000 to the project vendor, a private individual, according to the following schedule:

  • On signing: pay $12,000 and issue 100,000 shares (paid)
  • On first anniversary: pay $10,000
  • On second anniversary: pay $12,000
  • On third anniversary: pay $16,000
  • On fourth anniversary: pay $20,000

The property is subject to a 1.5% net smelter return (“NSR”), 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 property is in good standing for two years following the date of signing.

Figure 1: Great Bear’s West Madsen property, showing the east and west blocks

 West Madsen

Figure 2: Great Bear’s Red Lake properties are located on the district’s primary greenstone belts

GBR Properties

About Great Bear

Great Bear’s assets are the 50% owned BA and Surprise Creek zinc-silver-lead properties in the Golden Triangle region of British Columbia, and the Dixie Lake and West Madsen properties in the Red Lake district of Ontario, where it is respectively purchasing a 67% and 100% interest.

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 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

12.0 m of 5.24% Zn, 1.59% Pb and 30 g/t Ag at BA Project

November 2, 2016 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) is pleased to announce initial trench sampling results from its 50 percent owned BA project in the Golden Triangle district of British Columbia.  At the BA project, the BA zone represents the surface exposure of a large VMS system that has been previously drilled-tested over 1.5 kilometres of strike.  The zone is located between 2.5 and 4 kilometres from paved highway 37A, the main access route to Stewart, British Columbia, and remains open to extension.

Highlights of the work program results received to date include:

  • Trench “C2” – 12.0 m of 5.09% Zn, 1.81% Pb and 20 g/t Ag within 39.0 m of 3.76% Zn, 2.26% Pb and 30 g/t Ag
  • Trench “C” – 1.5 m of 6.64% Zn, 2.71% Pb and 21 g/t Ag within 19.5 m of 3.92 % Zn, 1.55% Pb and 44 g/t Ag
  • Trench “D” – 12.0 m of 5.24% Zn, 1.59% Pb and 30 g/t Ag within 19.5 m of 3.96% Zn, 1.05% Pb and 20 g/t Ag.
  • Glacial retreat since 2010 has exposed strike extensions of the zone which have now been sampled
  • Re-logging of historical drill core has revealed a high-grade sulphide-carbonate overprint of the stacked volcanogenic massive sulphide system (VMS), comprising a core of enhanced grade that is traceable along strike at surface.

“The BA zone is an extensive zinc-silver-lead discovery located only two kilometres from paved highway,” said Chris Taylor, Great Bear’s CEO, “Unlike many projects in the Golden Triangle, mineralization is neither remote nor deeply buried.  Great Bear is currently reviewing results from over 20,000 m of past drilling and surface sampling to evaluate more comprehensively the extent and continuity of mineralization.   Channel samples reported herein are from surface exposures of semi-massive to massive sulphide that are traceable at surface along the exposed length of the zone.”

Samples from four additional trenches as well as re-sampled drill core are currently in the lab for processing.  Once the company has received all results, a comprehensive 3D geological model will be created to assist with planning for the 2017 exploration program at the BA project.

The channel sampling program targeted prospective zones of zinc-silver-lead VMS bearing stratigraphy.  The work included a comprehensive re-logging and sampling program of historical drill core as well as re-interpretation of the geological model.  The new modeling confirms the presence of a “stacked” VMS system along with significant zones of higher grade sulphide-carbonate enrichment, generally containing several percent combined zinc and lead plus associated silver. Sampling has also identified strike extensions of the mineralized zones into areas where glacial cover has melted since the last drilling on the project was completed in 2010.

In 2010, Great Bear completed an 82 hole, 15,000 metre drill program within the BA zone.  A table of historic drill results is published to the Company’s web site at www.greatbearresources.ca.

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 778-327-5799, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

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 Amends BA and Surprise Creek Agreements

October 21, 2016 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has amended its Joint Venture Agreement (the “Agreement”) with Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) to streamline exploration activities at the BA and Surprise Creek properties in the Golden Triangle area of British Columbia.

The following changes have been implemented:

  • Separate Joint Venture agreements have now been signed for the BA and Surprise Creek properties giving Great Bear operational control and casting vote on exploration decisions at BA and Mountain Boy the same for Surprise Creek, and;
  • Annual minimum work programs of $250,000 are required at each project to ensure ongoing exploration activity.

Great Bear and Mountain Boy each hold a 50% ownership interest in both properties at the date of signing.  All other provisions of the original Agreement remain in effect.  The Company believes that advancing each property under a separate agreement with clear operatorship and budgeting provisions and will allow for more efficient and focused exploration to be carried out on both projects.

BA Exploration Update

The Company also announces completion of its 2016 field investigation program at BA.  Work included over 150 metres of channel sampling, targeting both recently deglaciated and previously mapped VMS-mineralized stratigraphy, and a comprehensive relogging, resampling, and review of drill core from the 15,000 metre, 82 hole drill program completed in 2010 by the Company.

Assays results from the zinc-silver-lead and gold-copper mineralized zones channel sampled by Great Bear are expected to be received over the coming weeks.

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 778-327-5799 or Mr. Knox Henderson at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

info@greatbearresources.ca

www.greatbearresources.ca

 

About the BA and Surprise Creek Properties

The BA project consists of 24 claims totalling 9778 Ha straddling paved highway 37A, the primary access route to Stewart, B.C.  The property is underlain by stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations.  In 2010, Great Bear completed a 82 hole, 15,000 metre drill program targeting a 1,200 metre by 800 metre zone of zinc-silver-lead mineralized stratigraphy beginning 2.5 kilometres from the highway.

The Surprise Creek project consists of 19 claims totalling 7,472 Ha located immediately north of highway 37A.  The project is underlain by much of the same stratigraphy as BA.  Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.

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 Retains Investor Relations

October 5, 2016 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has entered into a consulting agreement with Knox Communications Inc. (“KCI”) dated October 1, 2016.  Pursuant to the terms of the Agreement, KCI has agreed to provide investor relations services to the Company for consideration of $3,000 per month and the grant of stock options to purchase up to 40,000 common shares of the Company at an exercise price of $0.24 per share, subject to vesting in accordance with the Company’s stock option plan.

Headed by Knox Henderson, KCI will assist the Company in strategic marketing and communications.  Mr. Henderson brings more than 15 years’ experience in investor relations and corporate communications for publicly listed companies.  He has provided marketing services for financings exceeding $100 million in aggregate value for TSX Venture Exchange listed resource companies, from early exploration through to prefeasibility stage.  The agreement and the grant of stock options are subject to Exchange approval.

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 778-327-5799 or Mr. Knox Henderson at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

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 $960,000 Private Placement

September 1, 2016 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) announces conditional Exchange approval has been granted to close the non-brokered private placement originally announced on August 2, 2016. Due to significant demand, the Company has elected to exercise the option to increase the private placement by 20% for total gross proceeds of CDN$960,000.

“Over the past two months, we have raised an aggregate of $1,410,000 and Great Bear is now well positioned to advance our projects in the Golden Triangle, B.C., and the Red Lake district of Ontario,” stated Chris Taylor, Great Bear’s President and CEO.

The Company has issued 4,800,000 units at a price of $0.20, with each unit consisting of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.27 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 $0.40 or more for a period of ten consecutive trading days. Insiders participated for a portion of the placement. The Company paid finder’s fees of $16,380.

Proceeds will be used to advance the Company’s projects in the Golden Triangle area of British Columbia, and the Red Lake district of Ontario, as well as for general working capital purposes.

The Company has also granted an aggregate of 1,000,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.23 per share for a period of five years. The options are subject to a four month hold period.

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 778-327-5799.

ON BEHALF OF THE BOARD
“Chris Taylor”
Chris Taylor, President and CEO
Inquiries:
Tel: 778-327-5799
Fax: 778-327-6675
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