Great Atlantic Resources Partner Drills 18.45 Metres of 1.14% Copper, 2.42% Zinc, 16.74 g/t Silver and 0.32 g/t Gold in Upper Lens; 5.42 Meters of 1.99% Copper, 1.66% Zinc, 15.49 g/t Silver and 0.8 g/t Gold in Lower Lens at Pilley's Island Project

Great Atlantic Resources Corp. (GR) partner HM Exploration has released the final Phase One drill assays for holes PI‑26‑008 through PI‑26‑012 at the Pilley’s Island VMS project in Newfoundland.

The results for PI‑26‑008 include an Upper Lens interval of 18.45 m @ 1.14% Cu, 2.42% Zn, 16.74 g/t Ag, 0.32 g/t Au (from 7.55 m), which includes 0.71 m @ 2.25% Cu, 2.27% Pb, 27.3% Zn, 102 g/t Ag, 2.42 g/t Au. The Lower Lens in the same hole returned 6.32 m @ 0.91% Cu, 2.37% Zn, 29.3 g/t Ag, 1.63 g/t Au (from 163.45 m), including 0.82 m @ 0.72% Cu, 4.29% Pb, 10.9% Zn, 149 g/t Ag, 10.23 g/t Au.

PI‑26‑009’s Upper Lens returned 7.57 m @ 1.95% Cu, 2.89% Zn, 17.1 g/t Ag, 0.31 g/t Au, while the Lower Lens returned 3.38 m @ 1.03% Cu, 0.43% Zn, 7.71 g/t Ag, 0.37 g/t Au. PI‑26‑010’s Lower Lens returned 5.42 m @ 1.99% Cu, 1.66% Zn, 15.49 g/t Ag, 0.8 g/t Au. Holes PI‑26‑011 and PI‑26‑012 returned sub‑0.3% Cu with low Ag/Au and no massive sulphide.

The Upper lens is now traced over approximately 145 m of strike, and the Lower lens over approximately 40 m; both remain open along strike and at depth. Phase Two drilling and EM surveys are planned for fall 2026. No true‑width estimate is given, as core lengths are downhole.

Great Atlantic Resources Corp. (GR) is a distressed junior explorer with negative equity, a CAD 4.6 million market cap, and no revenue. Its Pilley’s Island project is subject to an earn-in option held by HM Exploration, with Great Atlantic retaining a 1% NSR and potential bonus payments. The project’s success would indirectly benefit Great Atlantic only if a commercial deposit is delineated and the option is exercised.

Phase One results confirm a VMS system with moderate grades and an expanding strike, though the grades and widths are not yet outstanding. The stock has drifted from $0.23 in September 2025 to $0.07 by August 2026, reflecting dilution, operational setbacks, and skepticism. Previous positive Pilley’s Island results on July 22 failed to generate a bounce, and today’s final assays are expected and priced-in.

Given the stock’s prolonged downtrend and the market’s primary focus on the troubled Golden Promise bulk sample, this news is unlikely to re-rate the equity. While any discovery-style result is more powerful for an explorer than for a producer, the grade and width fall short of being a “company-maker,” especially given the overriding financial distress.

Great Atlantic Resources Corp. (GR) is a Canadian junior explorer holding a portfolio of 100%-owned properties in Newfoundland and New Brunswick, with a focus on gold, base metals, and critical minerals. Its key asset is the Golden Promise gold property in central Newfoundland, covering 16,525 hectares. The property hosts an inferred resource of 119,900 ounces of gold at a grade of 10.4 g/t, as reported in a 2018 NI 43-101 technical report. Bulk sampling at the high-grade Jaclyn Main Zone was halted due to equipment failures and financing shortfalls.

Pilley’s Island is subject to an option agreement with HM Exploration, which can earn a 100% interest by spending $3.5 million and issuing 6.3 million shares. Great Atlantic retains a 1% net smelter return (NSR) on this property. The company’s other projects include Keymet, a high-grade silver-zinc-copper deposit; Glenelg, a gold-antimony-vanadium property; Kagoot Brook, focused on cobalt; South Quarry, targeting tungsten and emeralds; and Flume Ridge, a tungsten project.

The company has approximately 65.5 million shares outstanding. It reports negative equity, a heavy working capital deficiency, and significant debt, primarily consisting of convertible and revolving instruments. Great Atlantic currently generates no revenue.