Vancouver, British Columbia--(Newsfile Corp. - August 1, 2018) - Great Bear Resources (TSXV: GBR) (the "Company" or "Great
Bear") today reported gold results for a further three drill holes from its ongoing 2018 drilling. A fully funded drill program
consisting of 40 — 50 drill holes totalling 7,000 metres is underway and is expected to continue through fall 2018. Results will be
issued regularly throughout the remainder of the year. The latest drilling of the Dixie Limb Zone ("DLZ") has returned 16.80 metres
of 5.60 g/t gold, including 2.70 metres of 14.92 g/t gold. Two new parallel high-grade gold zones were also intersected.
Highlighted drill results are shown in Table 1, a plan map showing drill collar locations is shown in Figure 1 and a cross section
is shown in Figure 2.
Table 1: Highlighted drill results from latest 3 drill holes. All intervals are drill indicated
core length and do not represent true thicknesses.
Drill Hole |
|
From
(m) |
To
(m) |
Width
(m) |
Gold
(g/t) |
Target |
DL-018 |
|
152.35 |
155.45 |
3.10 |
3.23 |
Dixie Limb |
DL-018 |
Including |
152.85 |
153.45 |
0.60 |
5.36 |
DL-018 |
|
253.50 |
256.00 |
2.50 |
3.19 |
New Footwall Zone |
DL-018 |
Including |
254.50 |
255.00 |
0.50 |
8.69 |
DL-019 |
|
165.75 |
171.65 |
5.90 |
1.99 |
Dixie Limb |
DL-019 |
Including |
166.75 |
167.25 |
0.50 |
5.38 |
DL-020 |
|
95.15 |
96.15 |
1.00 |
5.51 |
New Hanging Wall Zone |
DL-020 |
|
173.00 |
195.00 |
22.00 |
4.31 |
Dixie Limb |
DL-020 |
Including |
178.20 |
195.00 |
16.80 |
5.60 |
DL-020 |
And Including |
179.35 |
182.05 |
2.70 |
14.92 |
DL-020 |
And Including |
180.85 |
182.05 |
1.20 |
22.86 |
Chris Taylor, President of Great Bear said, "We continue to expand the robust and fertile gold system at our flagship Dixie
project. Our latest drill results suggest excellent continuity of high-grade gold mineralization at the primary gold-hosting
contact of the DLZ from surface to a vertical depth of approximately 150 metres. Historical drilling suggests that gold
mineralization extends to at least 450 metres vertical depth and remains open to extension both at depth and along strike, which
Great Bear will continue to drill-test. We have also drilled new high-grade gold zones in the footwall and hanging wall of the DLZ
that are parallel to the primary contact and comprise new targets. It appears that up to three parallel gold-mineralized zones are
present along the Dixie Limb where drilled by Great Bear to-date. We will continue to drill-test the extent and grade of these
zones, in addition to further drilling of the Hinge Zone, Northwest Extension, and South Limb Zones."
Figure 1: Plan map showing drill collar locations.
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/5331/36297_a1533100231961_64.jpg
Figure 2: Cross section looking northwest
through the DLZ showing highlighted intercept of 16.80 metres of 5.60 g/t gold in
DL-020. Interpreted mineralized zone boundaries are shown.
To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/5331/36297_a1533100232258_62.jpg
The high-grade intervals reported from drill hole DL-020 intersected the primary gold-bearing contact approximately 15 metres
vertically below the intercept in drill hole DL-005, which was reported by the Company on September 7, 2017 and returned 10.40
metres of 16.84 g/t gold.
The Company announced raising $2.1 million in May 2018 and is fully funded through the completion of the current drill
program.
About Great Bear
Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake
district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other
producing gold mines in the district. The project has seen over 190 drill holes to-date and has yielded high grade near-surface
gold results from several gold zones hosted at an extensive mineralized geological contact — the Dixie Limb Zone. In addition,
Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 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 is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the
program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS
Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are
analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire
Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample
stream, as part of Great Bear's quality control/quality assurance program (QAQC). No QAQC issues were noted with the results
reported herein.
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