Great Atlantic Resources Provides Update on Pilley's Island Project as Partner HM Exploration Advances Exploration Plans, North-Central Newfoundland

Rhea-AI Summary

Great Atlantic Resources (OTC: GRARF) provided an update on the Pilley's Island project as partner HM Exploration expanded the land package and prepares initial diamond drilling in 2026. HM acquired a 20 km2 tenure, bringing the combined Lewis Pilley's Project to 42 km2 within a historic VMS district. Historical intercepts include 1.84% Cu over 16.7 m. Under the option agreement, HM may earn 100% interest via staged payments, share issuances and exploration expenditures. Great Atlantic expects systematic exploration to test multiple high-priority VMS targets in 2026.

Positive

• Project area expanded to 42 km2
• HM preparing initial diamond drilling targeting multiple historic zones in 2026
• Historic intercept: 1.84% Cu over 16.7 m supports prospectivity

Negative

• Great Atlantic holds no interest in the newly acquired 20 km2 tenure

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2026) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to provide an update regarding exploration progress at the Pilley's Island Base Metal – Precious Metal Project in north-central Newfoundland, where HM Exploration Corp. holds an option to earn a 100% interest in the project.

Recent announcements by HM Exploration highlight continued advancement of the project area, including expansion of their land package through the acquisition of an additional mineral tenure within the Pilley's Island volcanogenic massive sulphide (VMS) district.

David Martin P.Geo and GR VP Exploration, at Pilley's Island Property

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/289026_5ac6e823c424baa9_002full.jpg

The Tenure acquired by HM Exploration covers an area of 20 square kilometres. Great Atlantic has no interest in this Tenure acquired by HM Exploration. This Tenure combined with the Pilley's Island Project (optioned by HM Exploration from Great Atlantic) totals 42 square kilometres and is referred to as the "Lewis Pilley's Project" by HM Exploration. The newly expanded project area consolidates a significant portion of this historic base-metal district and strengthens the geological potential for new VMS copper-zinc-lead-silver-gold discoveries.

"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," states Anderson, CEO of Great Atlantic Resources Corp. "The district has a long history of copper and zinc mineralization, and we believe the upcoming exploration program represents an important step toward evaluating its broader discovery potential. 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."

Massive sulfide mineralization at Bull Road Trench - Pilley's Island Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/289026_5ac6e823c424baa9_003full.jpg

Advancing Toward Initial Diamond Drilling

HM Exploration has indicated that it is preparing for its first diamond drilling program within the district, targeting multiple zones of historic mineralization and untested geophysical anomalies.

Historical exploration in the area has reported encouraging results, including intercepts such as:

• 1.84% copper over 16.7 metres core length (1989 drill hole within the area of the Tenure recently acquired by HM Exploration as reported in NL assessment report no. 002E_0656)
• Multiple zones of copper-zinc mineralization associated with VMS systems

These results, combined with modern geological interpretation and expanded land coverage, provide multiple priority targets for upcoming exploration campaigns.

Strategic Value to Great Atlantic

Under the option agreement between Great Atlantic and HM Exploration, HM may earn a 100% interest in the Pilley's Island Project through staged payments, share issuances and exploration expenditures.

Great Atlantic believes the project represents a significant exploration opportunity within the Buchans-Roberts Arm Belt, one of Atlantic Canada's most prolific VMS districts, known for hosting historic high-grade deposits.

Management believes the ongoing work by HM Exploration has the potential to:

• Expand known mineralized zones
• Test untested VMS targets
• Further demonstrate the district-scale potential of the project

Great Atlantic looks forward to the commencement of drilling and exploration programs in 2026, which are expected to test several high-priority targets across the project.

The Company believes that continued systematic exploration in this historically productive mining district offers strong potential for new discoveries of copper-zinc-lead-silver-gold VMS mineralization.

David Martin, P.Geo., (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, reviewed and approved the technical information contained in this News Release.

On Behalf of the board of directors

"Christopher R. Anderson"
Mr. Christopher R. Anderson
President CEO Director
604-488-3900

Investor Relations:
1-416-628-1560
IR@GreatAtlanticResources.com

___

Never miss an update!

Follow Great Atlantic Resources Corp. on social media for project updates, photos, and much more.

LINKEDIN: https://ca.linkedin.com/company/greatatlanticresources
X: https://x.com/GreatAtlRes
FACEBOOK: https://www.facebook.com/GreatAtlanticResources
INSTAGRAM: https://www.instagram.com/greatatlanticresources/
YOUTUBE: https://www.youtube.com/@GreatAtlanticTV/
TIKTOK: https://www.tiktok.com/@greatatlanticresources

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/289026_5ac6e823c424baa9_004full.jpg

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/289026_5ac6e823c424baa9_005full.jpg

This press release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289026

FAQ

What did Great Atlantic (GRARF) announce about HM Exploration's activity at Pilley's Island on March 19, 2026?

They announced HM Exploration expanded the project footprint and plans diamond drilling in 2026. According to Great Atlantic, HM acquired a 20 km2 tenure, creating a combined 42 km2 Lewis Pilley's Project and preparing initial drill programs to test priority VMS targets.

How large is the Lewis Pilley's Project after HM Exploration's March 2026 acquisition for GRARF shareholders?

The combined project totals 42 square kilometres after the acquisition. According to Great Atlantic, HM's new tenure adds 20 km2, consolidating land across the historic Buchans-Roberts Arm VMS belt and creating multiple exploration targets.

What exploration work is HM Exploration planning at the Pilley's Island project mentioned by Great Atlantic?

HM is preparing an initial diamond drilling program targeting historic mineralization and geophysical anomalies. According to Great Atlantic, the program is intended to test multiple high-priority VMS targets and expand known mineralized zones in 2026.

What historical drill results support prospectivity at the Pilley's Island project (GRARF) referenced on March 19, 2026?

Historical results include 1.84% copper over 16.7 metres core length from a 1989 hole. According to Great Atlantic, this intercept and multiple copper-zinc zones support prioritizing targets with modern techniques across the expanded land package.

How does the option agreement with HM Exploration affect Great Atlantic (GRARF) ownership of Pilley's Island?

Under the option, HM may earn a 100% interest through staged payments, share issuances and exploration expenditures. According to Great Atlantic, this leaves operational advancement to HM while Great Atlantic retains economic/contractual upside if terms are fulfilled.