Phase 1 Grid Drilling To 450 m Depth At LP Fault

VANCOUVER - Great Bear Resources Ltd. reported on its ongoing 2021 exploration program at the flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, "We have now completed 440 drill holes at the LP Fault, and our Phase 1 drill grid is substantially complete to an average 450 meters depth along over 4 kilometers of strike length.  109 of the 440 drill holes totaling over 40,000 meters are currently in various stages of assay progress, with results expected regularly over the next 2 – 3 months.  Maiden mineral resource estimate modeling of the first 450 meters of mineralization from surface of the LP Fault is underway and is expected to be published no later than Q1 2022."

The Company will now commence Phase 2 drilling, which will consist of: 1) Ongoing expansion drilling of the LP Fault below 450 meters depth and along strike, 2) any additional infill drilling of the upper 450 meters of the LP Fault that may be required after review, 3) expansion and infill drilling of the Hinge, Limb and Arrow zones, and 4) testing of new regional targets at Dixie.

More comprehensive Phase 2 drill plans, along with a description of which portions of the currently drilled mineralized zones will be included in the maiden mineral resource estimates, will be released after receipt and interpretation of current outstanding drill results.  Great Bear has approximately $83 million in cash on hand and is funded through 2022.  In total, Great Bear has completed 630 drill holes totaling 283,000 meters into all gold zones since beginning drilling at the Dixie Project in summer 2017.