Great Bear’s Red Lake Properties

Great Bear recently doubled its road-accessible land position in the Red Lake District with its acquisition of the West Madsen gold project announced November 2016. Together with the Dixie Lake Project to the east, Great bear now has agreements in place to control 3,750 hectares of prospective greenstone belts.

The Dixie Lake project has drill ready targets with shallow historical drilling that encountered significant high grade gold intercepts. The West Madsen project lies within a newly recognized extension of the same greenstone belts which host Pure Gold’s Madsen project.

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 make West Madsen a compelling target for new gold exploration

Dixie Lake

In 2015, the Company entered an agreement to acquire the Dixie Lake mining claims in Ontario consisting of a 67% interest in 45 mining claims and a 100% interest in four mining claims. The agreement called for $130,000 in total cash payments over 4 years to earn the 67% interest in the claims ($20,000 paid). Newmont Mining has a 33% participating interest, while Great Bear owns the underlying royalties in their entirety.

Geological setting

Dixie Lake is a typical Archean mesothermal gold vein system located approximately 20-25 km from significant mines that share the same geological and metallogenic characteristics (Red Lake, Madsen and Rahill-Bonanza). Dixie Lake hosts a series of mafic-felsic sequences within the Red Lake Greenstone Belt. Significant folding and thinning of the greenstone lends itself to enriched zones of gold mineralization.

Past Work Programs

Examination of historic work on the project by Company geologists have identified several inconsistencies in the database that led to an underestimation of gold grades. The Company plans to evaluate both this and the high exploration potential created by the structural folding of the mineralization sequences which lend themselves to the formation of higher grade ore shoots.

Drilling highlights from the historical database include: 2.2 m at 17.2 g/t gold in hole DC-08-01R; 4.6 m grading 9.75 g/t gold in hole DL-04-04; and 1.97 m grading 17.77 g/t gold in hole DL-89-9.

While the project has an extensive history of exploration, Great Bear believes it’s new interpretation of the geology and structure should allow for a much more focused exploration program on these higher grade shoots as well as testing parallel zones that have been identified as a result of the compilation studies of the extensive historical data available.

West Madsen

In November 2016, Great Bear signed a purchase agreement to acquire 100 percent ownership of the West Madsen gold project in the Red Lake Gold District Total for a purchase cost of $70,000 cash and 100,000 shares over four years the from the underlying property vendor. The project comprises two claims blocks, the easternmost (Block ‘A’) of which is situated 3 kilometres to the west of Pure Gold Mining’s Madsen property; each block is roughly six kilometres by three kilometres in size, for a total area of 2,000 hectares.

The West Madsen project is a newly identified geological continuity of the greenstone belt within the Balmer and Confederation assemblages, which are host to the adjacent historical Madsen and Starratt Olsen mines. Results from neighboring Pure Gold’s Madsen project, reported September to November 2016, include 126.6 g/t gold over 3.7 metres; 34.0 g/t Gold over 11.0 metres; 25.4 g/t gold over 8.0 metres; and 76.0 g/t gold over 2.1 metres. Recent logging road construction has opened the area to cost-effective exploration for the first time. Great Bear’s next step on the property is an initial exploration program of mapping and sampling and geophysics towards defining priority drilling targets.

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 on this website.

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