Great Atlantic partner plans Pilley's Island drilling

Executive Summary

• Great Atlantic Resources provided an update on the Pilley's Island project, where partner HM Exploration is advancing exploration plans and expanding its land package.
• HM Exploration acquired an additional 20 square kilometres of mineral tenure, bringing the total project area (the "Lewis Pilley's project") to 42 square kilometres, consolidating a significant portion of the historic VMS district.
• HM Exploration is preparing for its first diamond drilling program in 2026, targeting historic mineralization zones and untested geophysical anomalies.

Key Details

• Land Expansion: HM Exploration acquired an additional 20 square kilometres of mineral tenure within the Pilley's Island VMS district. Great Atlantic Resources holds no interest in this newly acquired tenure.
• Total Project Footprint: The combination of the Pilley's Island project (optioned by HM from Great Atlantic) and the newly acquired tenure totals 42 square kilometres, referred to by HM as the "Lewis Pilley's project."
• Exploration Strategy: HM Exploration is preparing for its initial diamond drilling program, targeting multiple zones of historic mineralization and untested geophysical anomalies.
• Historical Drill Results: The release cites historical exploration data to support the exploration potential, specifically:
  • 1.84% copper over 16.7 metres core length from a 1989 drill hole within the area of the tenure recently acquired by HM Exploration (reported in NL assessment report No. 002E-0656).
  • Multiple zones of copper-zinc mineralization associated with VMS systems.
• Option Agreement Terms: HM Exploration holds an option to earn a 100% interest in the Pilley's Island project through staged payments, share issuances, and exploration expenditures.
• Timeline: Drilling and exploration programs are expected to commence in 2026.
• Technical Review: The technical information was reviewed and approved by David Martin, PGeo, Vice-President of Exploration for Great Atlantic.

Notable Quotes

• "We are very pleased to see HM Exploration advancing exploration at the Pilley's Island project and expanding the footprint within this historic VMS district... With modern exploration techniques and an expanded land position, we are excited to see systematic work begin and look forward to the results of the upcoming program." — Christopher Anderson, CEO, Great Atlantic Resources