August 4, 2020 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Highlights Include:
•Two new drill sections were completed within a previously undrilled 140 metre long segment of the LP Fault
•These sections contained significant thicknesses of very shallow high-grade gold mineralization starting at the bedrock surface including 81.22 g/t gold over 10.50 metres
•Repeated intersection of high-grade gold mineralization during 2020 LP Fault drilling has led to a new geological model being prepared by the Company. Initial results are included in this release.

Figure 1: Newly reported LP Fault drill intervals plotted versus all previously reported LP Fault drill intervals. Data is from 126 reported drill holes.

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Chris Taylor, President and CEO of Great Bear said, “New results from a 140 metre long previously undrilled segment within the LP Fault include 81.22 g/t gold over 10.50 metres at bedrock surface, with excellent continuity of mineralization once again observed across adjacent drill sections and to depth on the same drill section. Over the past months we have regularly intersected predictable high-grade gold intervals at the LP Fault within the broad bulk-tonnage style gold system. This positive development is underscored by both styles of mineralization extending from bedrock surface to the limits of current drilling at depth. We are currently building an updated geological model to account for the majority of this high-grade mineralization, and provide early descriptions of this work in this release.”

The Company has completed 126 of approximately 300 planned drill holes into the LP Fault target, as part of its 5 kilometre long by 500 metre deep grid drill program.

Current Results Highlights

Two drill sections were completed within a previously undrilled 140 metre long gap along the LP Fault; sections 20500 and 20450. High-grade gold and wider intervals of moderate gold grades were seen in both sections. The location of drill section 20500 is provided in Figure 2. New assay results are provided in Table 1 and Figure 3, and include:
•Drill hole BR-146 on drill section 20500 intersected 209.42 g/t gold over 3.95 metres, within a broader interval of 81.22 g/t gold over 10.50 metres. Mineralization began at the bedrock surface, at a down-hole depth of 35.75 metres.
•A deeper interval in the same drill hole returned 2.08 g/t gold over 33.10 metres at a downhole depth of 210.90 metres.
•Continuity of gold mineralization was demonstrated on the same drill section with drill holes BR-143 and BR-145 intersecting gold mineralization 120 and 160 metres vertically below BR-146, respectively.
•Highlights from BR-143 include 9.34 g/t gold over 4.55 metres, within a broader interval of 3.24 g/t gold over 21.00 metres, and 70.60 g/t gold over 0.50 metres, within a broader interval of 1.50 g/t gold over 24.00 metres.
•Highlights from BR-145 include 15.25 g/t gold over 3.50 metres, within a broader interval of 11.47 g/t gold over 11.30 metres.
•Continuity of gold mineralization was also demonstrated on adjacent drill section 20450, located 50 metres to the southeast of BR-146.
Drill hole BR-144 intersected 23.46 g/t gold over 8.80 metres, including a higher-grade sub-interval of 231.00 g/t gold over 0.50 metres. The total mineralized interval was 3.73 g/t gold over 65.00 metres.

Additional drill results were returned from the same mineralized zone on drill section 20900, located 400 metres to the northwest of drill hole BR-146. Highlights include:
•Drill hole BR-160 returned 18.31 g/t gold over 2.50 metres, within a broader interval of 4.62 g/t gold over 12.15 metres.


Update on Geological Modeling

Great Bear continues to collect and interpret data to refine the geological model for the entire Dixie property. To date, the company has collected > 164,000 drill core samples and > 100,000 downhole data observations including alteration, mineralization and > 36,000 oriented structural core measurements. These data points together with ongoing cross section and 3D geological modelling continue to guide exploration drilling on the property.

While the Hinge and Dixie Limb zones are being modelled as discrete vein / replacement zones within dominantly mafic volcanic rocks, the LP Fault system consists of a broad and laterally continuous zone of disseminated gold mineralization which contains several discrete foliation parallel zones of higher grade gold mineralization with generally steeply-dipping planar geometries, hosted within both felsic-intermediate volcanic (“FV”) rocks and meta-sedimentary (“MS”) rocks. The “sheet-like” geometry of these zones adds to their predictability across drill sections and to depth and continues to facilitate their targeting during ongoing exploration.

The broad zone of gold mineralization at the LP Fault is associated with specific rock types, geological contacts and alteration assemblages. These rock types are recorded during core-logging and contact relationships are later refined in the 3D model once lithogeochemical data are available.

To date, two discrete high grade corridors extending to the depths of current drilling, have been identified through interpretation and re-logging of drill core from within the LP Fault:
1.“Upper Vein Zone” - A discrete zone containing up to 60% deformed and transposed quartz veins. Gold occurs in both veins and wall rock and is interpreted through multiple drill holes to extend for more than 700 metres of strike, which remains open to extension in all directions.
2.“High Strain Zone” – A discrete zone of increased foliation parallel strain where gold has been observed along foliation planes (without quartz veining). In addition to the high degree of strain, the zone is also marked by an increase in silicification and local sulphide mineralization and is interpreted through multiple drill holes to extend along a strike length of at least 1.1 kilometres, which remains open to extension in all directions.

Additional high-grade zones within the LP Fault are also being interpreted and tested with on-going drilling. Representative core photos of the Upper Vein Zone and High Strain Zone are included in Figure_4.

The Company will release a comprehensive geological and mineralization model update when current data collection and modeling work on these and other high-grade gold zones is complete.

Figure 4: Newly defined high-grade gold domains within the LP Fault.

Top: Upper Vein Zone. Bottom: High Strain Zone. Note the numerous deformed and transposed gold-bearing veins in the top image, and the relative lack of veining in the bottom image. Both intervals contain sheet-like, planar high-grade gold concentrations that have been successfully targeted within and between multiple drill sections.

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