Great Atlantic Options Pilley's Island Base Metal - Precious Metal Project: HM Exploration Corp Will Incur $3,500,000 in Exploration, Issue 6,300,000 Shares and GR will Retain a 1% NSR, Bonus Payment will be Issued in the Event of a Subsequent Sale to a t

Executive Summary

• Great Atlantic Resources Corp. entered into an option agreement with HM Exploration Corp., granting HM a 100 % interest in the Pilley’s Island Copper Project.
• Consideration consists of up to 6,300,000 common shares of HM Exploration at a deemed price of $0.19 per share, plus C$5,000,000 cash bonus contingent on achieving ≥2 million AuEq resources with NPV ≥ C$1 billion.
• HM Exploration will fund C$3.5 M of exploration (C$2.1 M by 9‑15‑2028) and Great Atlantic retains a 1 % NSR after completion; additional bonus payments apply if a subsequent sale occurs during the option period.

Key Details

• Share Issuance Schedule:
• 700,000 shares issued within 10 business days of CSE approval (Effective Date).
• Remaining 5,600,000 shares to be delivered in four tranches, with a final tranche of 1,400,000 shares as the fifth annual tranche.
• Exploration Funding Commitment: HM Exploration will spend C$3.5 M on exploration before 15 Sept 2030 (with C$2.1 M required by 15 Sept 2028).
• Net Smelter Royalty: Great Atlantic will retain a 1 % NSR on the Pilley’s Island Project after all shares are issued and exploration spend met.
• Bonus Agreement – Subsequent Sale:
• If a third‑party transaction (“Subsequent Sale”) occurs during the option period, an additional consideration equal to 5 % of total cash & non‑cash proceeds will be payable.
• Distribution of this “Consideration Entitlement”: 70 % to HM Exploration (Optionor) and 30 % to the Original Vendor to Great Atlantic.
• Mineral Resource Bonus Payment:
• Up‑front cash bonus of C$5,000,000 payable if a cumulative mineral reserve/resource ≥2 million AuEq is established with NPV ≥ C$1 billion (NI 43‑101 compliant).
• Bonus split pro‑rata as above and payable within 30 business days of filing the supporting technical report.
• Project Overview:
• Pilley’s Island Project comprises eight licences covering 12.25 km² in Notre Dame Bay, Newfoundland.
• Historic VMS occurrences with Zn, Pb, Cu, Ag, Au; notable historic drill and trench results (e.g., 15.40 % Zn, 6.60 % Pb, 4.66 % Cu, 111.5 g/t Ag over 1.05 m).
• Qualified Person: David Martin, P.Geo., VP Exploration, has approved the technical information in this release (NI 43‑101).

Notable Quotes

“Great Atlantic's primary focus is to advance our flagship Golden Promise Mines Project… At the same time, we are actively seeking partners to help unlock the value of our diverse portfolio of 100%-owned assets.” – Christopher R. Anderson, President & CEO

All forward‑looking statements are subject to risks and uncertainties; actual results may differ materially.