August 25, 2021 – 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 $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Key Results

• Drill holes reported in this release primarily targeted the previously underexplored northwestern and southeastern areas of the 4.2 kilometre Phase 1 drill grid. Results expand and characterize the zone outboard from the Central LP Fault, which had seen the highest density Phase 1 drilling prior to this release.  Figure 1.
• High-grade gold controls have been identified along the LP Fault. Drilling has confirmed these controls in several areas, which will facilitate targeting of high-grade gold during Phase 2 drilling below the current 450 metre drill depth, and elsewhere along strike.
• Steeply-plunging high-grade gold mineralization has been successfully targeted in the northwestern “Discovery” and southeastern “Viggo” areas of the LP Fault.
• The number of high-grade gold domains being modeled at the LP Fault has been expanded from 17 to 23. This includes seven high-grade gold domains which are being modeled in the northwestern “Discovery” area.
• Bulk tonnage style gold mineralization has been confirmed as continuous along more than 3 kilometres of strike length of the LP Fault and remains open to extension. New results from the previously under-drilled northwestern “Discovery” and “Gap” areas illustrate this continuity.

Chris Taylor, President and CEO of Great Bear said, “The confirmation of predictable high-grade gold controls within the LP Fault has clear, positive implications for our ability to target and model higher- grade mineralization, especially at depth. However, the confirmation of continuous mineralization at shallow depths in the “Gap” area is arguably the more significant development as we progress towards maiden mineral resource estimate publication by early next year. While clearly not the most strongly mineralized segment of the LP Fault, the “Gap” area contains mineralized intervals with similar grades and widths to those that have been incorporated into mine plans within other Canadian bulk tonnage gold deposits. These new results confirm the strongly mineralized Central and Discovery areas are connected as a continuously mineralized gold zone with clear bulk tonnage potential over three kilometres of strike length.”

With the 73 new drill holes contained in this release, Great Bear has reported 404 of the 440 LP Fault drill holes completed during Phase 1 drilling which will support maiden mineral resource estimation.

Figure 1: Long section showing Phase 1 drill grid results to date and areas discussed in this release.

High-Grade Gold Controls

Recent drilling has included a focus on modeling higher-grade gold mineralization controls within the broad, bulk tonnage style gold system. Plunge controls to mineralization were interpreted using over 65,000 oriented core measurements, targeting the intersections of foliation fabrics and stratigraphy. These intersections frequently host increased widths and grades of gold mineralization.

In this release, Great Bear successfully targeted higher grade zones within the LP Fault in both the “Discovery” and “Viggo” areas, and will apply the same criteria beneath currently drilled areas and along 11 kilometres of strike length of the LP Fault (see news release of February 20, 2020) through 2022.

Examples of confirmed and interpreted plunge controls are included in Figure 1. These and additional interpreted plunge controls will be tested during Phase 2 drilling.

“Discovery” Area Results

Twenty six drill holes were completed in the original LP Fault “Discovery” area, located along the most northwesterly 700 metres of the 4.2 kilometre long Phase 1 drill grid. This area was the site of LP Fault discovery hole DNW-011 (May 28, 2019; 12.33 g/t gold over 14.00 metres). Highlights include:

• Drill hole BR-365 extended gold mineralization approximately 100 metres deeper than past drilling on its section, assaying 15.04 g/t gold over 4.00 metres from 545.00 to 549.00 metres downhole, within a broader envelope of 3.13 g/t gold over 29.50 metres from 523.50 to 553.00 metres downhole. Figure 2.
• Drill hole BR-394 assayed 150.00 g/t gold over 0.80 metres from 331.60 to 332.40 metres downhole, within a broader interval of 28.18 g/t gold over 4.80 metres from 331.60 to 336.40 metres downhole. The total mineralized interval was 3.83 g/t gold over 43.10 metres from
  311.50 to 354.60 metres downhole. Figure 3.
• Newly defined steeply northwest plunging high-grade gold controls were successfully confirmed in both BR-365 and BR-394, and will be targeted at depth below this area during Phase 2 drilling.
• Most of the drill holes in the “Discovery” area contained multiple mineralized intervals. An example is drill hole BR-393 which contained four mineralized zones assaying 70.90 g/t gold over 1.00 metre from 110.75 to 111.75 metres, 1.26 g/t gold over 23.00 metres from 209.50 to
  232.50 metres downhole, 0.60 g/t gold over 98.35 metres from 237.60 to 335.95 metres downhole, and 16.00 g/t gold over 1.15 metres from 355.25 to 356.40 metres downhole.
• Drill hole BR-360 assayed 22.80 g/t gold over 1.20 metres from bedrock surface, within a broader interval of 1.66 g/t gold over 34.90 metres from 13.20 to 48.10 metres downhole. A separate interval of 0.88 g/t gold over 14.00 metres was also present from 153.00 to 167.00 metres downhole.
• Drill hole BR-333 assayed 26.60 g/t gold over 0.80 metres from 130.30 to 131.10 metres downhole, within a broader interval of 0.71 g/t gold over 84.25 metres from 51.00 to 135.25 metres downhole.
• Great Bear is currently modeling 7 high-grade gold domains within the broader bulk tonnage gold domains in the “Discovery” area of the LP Fault zone. Results are provided in Table 1, and expand both high-grade and bulk-tonnage style gold mineralization in this area.

Table 1: Drill results from the "Discovery" area of the northwestern LP Fault drill grid.

Drill Hole	From (m)	To (m)	Width* (m)	Gold (g/t)	Section
BR-361	229.40	230.00	0.60	3.01	22500
and	338.00	338.50	0.50	8.21
and	461.10	484.75	23.65	1.00
including	461.10	462.40	1.30	9.81
BR-362	304.50	307.20	5.70	1.45	22500
including	305.00	306.00	1.00	6.42
BR-363	137.60	154.30	16.70	1.01	22500
including	149.80	151.30	1.50	7.91
BR-364	177.90	178.65	0.75	4.51	22500
BR-365	151.00	152.50	1.50	15.10	22425
and	523.50	553.00	29.50	3.13
including	545.00	553.00	8.00	10.24
and including	545.00	549.00	4.00	15.04
BR-366	363.00	397.50	34.50	0.89	22425
including	375.00	376.00	1.00	9.74
BR-368	189.50	207.00	17.50	1.58	22400
including	198.50	205.10	6.60	3.82
and including	204.40	205.10	0.70	22.00
and	315.25	316.75	1.50	4.19
BR-367	352.40	353.85	1.45	4.45	22375
and	372.00	373.50	1.50	3.30
and	472.40	508.30	35.90	0.71
BR-369	245.00	306.35	61.35	0.67	22325
BR-420	315.00	358.90	43.90	1.14	22300
including	331.50	333.00	1.50	6.21
BR-360	13.20	48.10	34.90	1.66	22250
including	13.20	14.40	1.20	22.80
and	153.00	167.00	14.00	0.88
BR-308	150.60	183.00	32.40	0.96	22200
including	171.25	183.00	11.75	2.12
and including	171.25	172.00	0.75	12.50
and	227.60	236.10	8.50	2.11
and	286.40	356.50	70.10	0.52
and	311.80	312.75	0.95	3.30
BR-396	75.10	117.60	42.50	0.73	22200
including	101.00	107.50	6.50	2.25
and	128.20	163.25	35.05	0.74
including	152.90	153.90	1.00	5.21
BR-307	353.00	419.50	66.50	0.71	22150
including	380.00	382.90	2.90	2.29

Table 1 Continued.

Drill Hole	From (m)	To (m)	Width* (m)	Gold (g/t)	Section
BR-397	20.50	50.20	29.70	0.52	22125
and	55.40	68.70	13.30	1.31
and	74.00	80.60	6.60	2.13
and	83.90	123.70	39.80	0.37
BR-395	142.00	201.30	59.30	0.40	22100
and	253.00	275.10	22.10	0.78
including	260.00	261.00	1.00	7.34
BR-391	39.00	55.90	16.90	2.55	22075
including	48.00	54.00	6.00	6.37
and	60.00	101.00	41.00	0.51
including	69.00	70.50	1.50	4.09
and	166.60	167.20	0.60	3.86
BR-392	197.50	233.80	36.30	0.72	22075
and	253.10	256.75	3.65	2.66
BR-393	110.75	111.75	1.00	70.90	22075
and	209.50	232.50	23.00	1.26
and	237.60	335.95	98.35	0.60
and	355.25	356.40	1.15	16.00
BR-394	124.40	125.40	1.00	10.20	22075
and	311.50	354.60	43.10	3.83
and including	331.60	336.40	4.80	28.18
and including	331.60	332.40	0.80	150.00
and	451.20	455.65	4.45	2.34
BR-333	51.00	135.25	84.25	0.71	21975
and including	125.55	131.10	5.55	4.85
and including	130.30	131.10	0.80	26.60
BR-334	220.60	243.80	23.20	0.69	21950
including	228.25	235.50	7.25	1.36
BR-335	180.85	182.20	1.35	3.07	21875
and	235.50	278.75	43.25	0.54
including	271.50	273.00	1.50	4.10
BR-336	334.95	344.00	9.05	0.81	21825
including	338.00	344.00	6.00	1.00
BR-337	215.25	244.10	28.85	0.34	21825
BR-338	125.00	141.00	16.00	0.55	21825
including	132.55	136.80	4.25	1.15

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north. All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Figure 2: Cross section 22425, located near the northwestern edge of the Phase 1 drill grid in the
“Discovery” area. Drill hole BR-365 extends mineralization by approximately 100 metres vertical depth. Drill core photos are of selected intervals and are not representative of all gold mineralization on the property. Assay results from past drilling are also provided in the included table.

Figure 3: Cross section 22075 located in the northwestern "Discovery" area of the Phase 1 drill grid. Drill core photos are of selected intervals and are not representative of all gold mineralization on the property. Assay results from past drilling are also provided in the included table.

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“Gap” Area Results

Eleven drill holes were completed into the “Gap” area, where bulk tonnage style gold mineralization dominates. The Gap segment comprises approximately 400 metres of the Phase 1 grid drilling strike length.

Results are provided in Table 2. Highlights include:

• Confirmation of bulk tonnage style gold mineralization in all areas tested. Results establish continuity between the adjacent “Discovery” and “Central” areas of the LP Fault zone, for a currently drilled total of over three kilometres of continuous bulk tonnage gold mineralization in the near surface of the zone.
• Drill hole BR-410 assayed 23.80 g/t gold over 0.60 metres from 386.10 to 386.70 metres downhole, within a broader interval of 1.29 g/t over 27.50 metres from 367.00 to 394.50 metres downhole.
• Drill hole BR-356 assayed 0.80 g/t gold over 26.90 metres from 124.10 to 151.00 metres downhole.
• Drill hole BR-355 intersected a new high-grade target assaying 31.40 g/t gold over 1.00 metre from 271.50 to 272.50 metres downhole, in addition to a separate interval of 0.59 g/t gold over 31.90 metres from 165.00 to 196.90 metres downhole.
• Great Bear is currently modeling 2 high-grade gold domains within the bulk tonnage gold domains in the Gap area of the LP Fault zone.
• The “Gap” segment of the LP Fault zone has been found to contain more strongly developed gold mineralization at vertical depths of approximately 750 – 800 metres. As originally reported on March 29, 2021, deep drill hole BR-260 intersected 15.57 g/t gold over 3.05 metres, within 1.08 g/t gold over 70.25 metres from 906.15 to 976.40 metres downhole. This remains the deepest drill hole testing the LP Fault to date.

Table 2: Drill results from the "Gap" area of the Northwestern LP Fault drill grid.

Drill Hole		From (m)	To (m)	Width* (m)	Gold (g/t)	Section
BR-350		138.00	187.50	49.50	0.40	21650
	including	144.00	171.00	27.00	0.50
BR-351		97.00	105.00	8.00	0.43	21600
BR-352		66.00	80.75	14.75	0.65	21525
	and	116.30	129.00	12.70	0.51
	and	133.85	138.10	4.25	2.76
	and	144.50	145.50	1.00	4.36
BR-353		231.50	271.70	40.20	0.52	21525
	including	241.70	243.30	1.60	5.96
BR-354		235.10	236.60	1.50	3.20	21525
	and	256.80	324.10	67.30	0.31
BR-355		165.00	196.90	31.90	0.59	21450
	and	271.50	272.50	1.00	31.40
BR-356		118.20	155.00	36.80	0.67	21450
	and	170.55	174.00	3.45	2.36
	including	170.55	171.00	0.45	8.35
BR-357	Anomalous					21425
BR-358		85.10	131.00	45.90	0.50	21400
	and	192.70	193.55	0.85	6.96
BR-359		203.75	253.00	49.25	0.31	21400
BR-410		190.80	191.80	1.00	3.73	21325
	and	295.50	361.90	66.40	0.32
	and	367.00	394.50	27.50	1.29
	and including	386.10	386.70	0.60	23.80

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations of individual high grade domains and bulk tonnage domains.  Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north. All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

“Viggo” Area Results

The most southeasterly kilometre is the least explored section of the Phase 1 drill grid, and is referred to as the “Viggo” area (October 30, 2019).

Gold mineralization in the “Viggo” area is transitional between the disseminated, bulk tonnage style gold of the central LP Fault in the west, and mesothermal vein-hosted gold with significant mineralized plunges or “shoots” in the east, such as is observed at the adjacent Hinge zone on the Dixie property, and elsewhere in the Red Lake district. An example of this mineralization is shown in Figure 4.

All (100%) of twenty new drill holes successfully intersected gold mineralization, including newly predicted high-grade gold plunges, which are the main exploration targets in this area. Gold results and structural data collected from this drilling will be used to target additional high-grade gold plunges during Phase 2 drilling.

New results are provided in Table 3 and include:

• Drill hole BR-343 intersected the near-surface projection of a high-grade plunge assaying 21.70 g/t gold over 1.25 metres from 27.50 to 28.75 metres downhole, within a broader interval of 6.73 g/t gold over 5.50 metres from 27.50 to 33.00 metres downhole. Follow-up drilling down plunge from this discovery is now required.
• Eight hundred fifty metres along strike to the southeast, drill hole BR-371 intersected the at- depth projection of a separate high-grade plunge assaying 64.30 g/t gold over 0.55 metres from 334.75 to 335.30 metres downhole, within a broader interval of 5.90 g/t gold over 8.25 metres from 334.75 to 343.00 metres downhole.
• BR-371 is the down-plunge continuation of gold mineralization first intersected in drill hole BR- 057 (February 13, 2020), which assayed 38.03 g/t gold over 0.50 metres, within a broader interval of 7.35 g/t gold over 3.50 metres. Additional up- and down-plunge drilling of this discovery is now required.
• Many of the drill holes in the Viggo area contain multiple gold-bearing vein-like intervals which define priority targets for follow-up drilling. Great Bear will test for potential structurally thickened plunging zones like those observed in BR-343 and BR-371 in these areas. An example from this release is drill hole BR-343 which intersected three mineralized vein-like intervals assaying 6.14 g/t gold over 0.50 metres from 34.05 to 34.55 metres downhole, 6.61 g/t gold over 0.95 metres from 79.85 to 80.80 metres downhole, and 10.20 g/t gold over 0.55 metres from 174.10 to 174.65 metres downhole.
• Other drilling in this area targeted shallow bulk-tonnage style gold mineralization immediately east of the central LP Fault zone, which will inform ongoing resource modeling. New results include BR-341 which assayed 2.66 g/t gold over 20.90 metres from 61.50 to 82.40 metres downhole.
• Drill density is currently limited in the Viggo area. Additional drilling will be required during the Phase 2 program to further define the bulk tonnage style and high-grade gold in this area, and to explore for additional vein-like high-grade gold plunges.

Figure 4: Cross section 18750 located in the southeastern "Viggo" area of the Phase 1 drill grid. The mineralized zone intersected in BR-371 and BR-057 plunges towards the west, into this view. Drill core photos are of selected intervals and are not representative of all gold mineralization on the property. Assay results from past drilling are also provided in the included table.

Table 3: Drill results from the southeastern "Viggo" area.

Drill Hole	From (m)	To (m)	Width* (m)	Gold (g/t)	Section
BR-341	49.10	57.00	7.90	2.57	19750
including	52.50	57.00	4.50	4.26
and	61.50	82.40	20.90	2.66
BR-342	34.05	34.55	0.50	6.14	19700
and	79.85	80.80	0.95	6.61
and	174.10	174.65	0.55	10.20
BR-403	166.55	174.00	7.45	1.25	19700
including	173.25	174.00	0.75	9.38
and	302.95	311.50	8.55	0.41
BR-404	193.10	204.00	10.90	0.27	19700
and	212.00	223.50	11.50	0.18
and	256.80	276.70	19.90	0.55
including	270.00	270.70	0.70	3.31
BR-344	38.65	39.15	0.50	2.73	19675
and	173.60	185.25	11.65	0.30
and	215.65	220.35	4.70	0.28
BR-343	27.50	33.00	5.50	6.73	19625
including	27.50	28.75	1.25	21.70
and	155.00	156.00	1.00	4.61
BR-401	285.45	286.35	0.90	7.15	19600
BR-400	217.50	218.00	0.50	3.28	19575
BR-347	108.10	115.10	7.00	0.71	19525
BR-349	170.50	171.50	1.00	6.57	19500
BR-402	256.10	257.10	1.00	4.07	19475
and	269.70	270.20	0.50	4.51
BR-348	91.15	102.00	10.85	0.42	19450
BR-377	259.50	267.00	7.50	1.97	19050
including	261.00	261.60	0.60	16.10
BR-375	436.00	445.55	9.55	0.28	19000
BR-376A	354.25	357.10	2.85	2.00	18975
BR-373	471.60	472.70	1.10	3.32	18925
and	480.00	482.50	2.50	2.57
BR-370	282.35	283.60	1.25	11.85	18900
and	289.50	298.00	8.50	1.22
and including	289.50	290.25	0.75	9.19
BR-372	351.60	360.00	8.40	0.72	18850
including	351.90	352.80	0.90	3.53
and	367.55	368.05	0.50	11.30
BR-374	488.85	493.30	4.45	1.73	18850
including	489.70	490.30	0.60	8.90
BR-371	334.75	343.00	8.25	5.90	18775
including	334.75	335.30	0.55	64.30

*Represents core length. True mineralization widths range between 65- 95% of reported intervals as they are determined by both structural analyses obtained from oriented drill core data and orientations

of individual high grade domains and bulk tonnage domains. Mineralized domains vary in strike between 340 to 270 degrees and dip between 85 to 65 degrees to the north. All drillholes intersect both high grade and bulk tonnage domains and often intersect multiple domains resulting in a range of true widths within the same drillhole.

Additional Drilling Peripheral to the LP Fault Zone

Fifteen of the 440 Phase 1 LP Fault drill holes were completed outside of the primary drill grid, up to 200 metres to the south of the zone at various locations along its strike length. Results for these holes are available on the Company ‘s web site at www.greatbearresources.ca. This drilling was undertaken to assess:

1. The lateral extent of gold mineralization into the footwall of the LP Fault Zone host rocks,
2. Geotechnical considerations such as rock density, competency and geochemistry that will be integrated into resource modeling, and
3. Condemnation drilling that will be integrated into advanced project planning.

Bulk disseminated gold mineralization at the LP Fault generally lacks discrete boundaries and decreases in intensity with increasing distance from the centre of the zone. As such, despite not targeting the LP Fault zone, all 15 (100%) of the drill holes completed into the periphery of the system still contained anomalous to low-grade gold over various interval widths.

Examples include peripheral drill holes BR-329a which intersected 0.22 g/t gold over 12.30 metres from 64.90 to 77.20 metres downhole, BR-345 which intersected 0.18 g/t gold over 16.35 metres from 21.60 to 37.95 metres downhole, and BR-405 which intersected 0.14 g/t gold over 14.10 metres from 40.90 to 55.00 metres downhole.

Peripheral drill hole BR-380 intersected high-grade gold assaying 23.50 g/t gold over 0.50 metres from 16.55 to 17.05 metres at bedrock surface. While the hole was drilled away from system, it was collared in the footwall of high-grade zone BR7 (May 19, 2021), and hence intersected a portion of the high- grade domain prior to exiting the system.

On a go-forward basis, drill holes completed outside the LP Fault and other gold zones will be included in a separate table in the data download section of Great Bear’s website. All LP Fault drill hole highlighted assays, plus drill collar locations and orientations can be downloaded at the Company’s web site.

Drill collar location, azimuth and dip for drill holes targeting the LP Fault zone included in this release are provided in the table below (UTM zone 15N, NAD 83):

Hole ID	Easting	Northing	Elevation	Length	Dip	Azimuth
BR-307	455817	5635200	375	519	-57	227
BR-308	455740	5635191	376	493	-60	227
BR-333	455801	5634900	373	282	-62	222
BR-334	455901	5634950	373	385	-56	222
BR-335	455955	5634906	372	327	-60	223
BR-336	456017	5634922	372	429	-60	221
BR-337	455974	5634868	372	345	-58	223
BR-338	455923	5634828	372	342	-59	214
BR-341	457797	5633930	364	435	-56	209
BR-342	457807	5633855	365	357	-55	208
BR-343	457873	5633787	363	327	-55	207
BR-344	457825	5633807	364	237	-55	209
BR-347	457955	5633730	362	330	-55	210
BR-348	458027	5633717	361	258	-55	211
BR-349	458012	5633799	368	378	-55	210
BR-350	455977	5634606	369	394	-49	39
BR-351	456027	5634582	369	426	-49	39
BR-352	456104	5634532	364	506	-52	37
BR-353	456076	5634490	365	473	-49	40
BR-354	456033	5634433	369	594	-48	39
BR-355	456106	5634447	358	561	-47	39
BR-356	456133	5634459	364	336	-44	38
BR-357	456203	5634502	363	231	-47	36
BR-358	456192	5634448	363	330	-50	37
BR-359	456149	5634403	367	594	-48	37
BR-360	455595	5635046	376	204	-61	227
BR-361	455585	5635497	383	582	-58	225
BR-362	455531	5635440	385	510	-59	224
BR-363	455489	5635381	384	345	-58	225
BR-364	455451	5635336	384	343	-58	225
BR-365	455726	5635551	382	723	-57	225
BR-366	455637	5635459	381	618	-58	223
BR-367	455687	5635426	379	579	-58	227
BR-368	455578	5635311	380	380	-63	226
BR-369	455656	5635260	378	387	-55	227
BR-370	458631	5633678	357	435	-56	210
BR-371	458787	5633652	358	453	-55	210
BR-372	458727	5633695	359	473	-55	212
BR-373	458723	5633841	360	609	-54	216
BR-374	458766	5633800	357	617	-56	213
BR-375	458620	5633844	360	570	-56	214
BR-376A	458583	5633766	358	489	-55	212
BR-377	458494	5633710	360	399	-55	211
BR-391	455720	5634953	376	303	-61	223
BR-392	455775	5635011	376	378	-61	224
BR-393	455818	5635062	374	465	-61	226
BR-394	455847	5635114	375	513	-62	222
BR-395	455751	5635052	374	390	-62	225
BR-396	455660	5635081	376	312	-61	227
BR-397	455679	5634990	375	306	-61	226
BR-400	457965	5633859	368	354	-55	211
BR-401	457961	5633926	369	420	-55	209
BR-402	458068	5633865	366	411	-55	208
BR-403	457857	5633935	364	450	-55	211
BR-404	457902	5634015	364	480	-54	209
BR-410	456193	5634289	369	678	-47	35
BR-420	455687	5635281	377	435	-57	229

About the Dixie Project

The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction. Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines. The property also hosts a network of well- maintained logging roads which facilitate access.

To date, Great Bear has completed a total of 630 drill holes (283,000 metres), identifying three high-grade gold discoveries. The most significant discovery is the large-scale “LP Fault” zone, which comprises high- grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units. LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length. The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units. Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization. Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project- data/.

About Great Bear

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high- grade gold zones, as well as to test new regional targets. The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022.

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

QA/QC and Core Sampling Protocols

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard

Fire Assay-Gravimetric methods. Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab. Selected samples are also chosen for duplicate assay from the coarse reject of the original sample. Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.

Qualified Person and NI 43-101 Disclosure

Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

“Chris Taylor”

Chris Taylor, President and CEO

Investor Inquiries:
Ms. Jenni Piette,
Director, Sustainability and Stakeholder Relations Tel: 604-646-8354
info@greatbearresources.ca
www.greatbearresources.ca

Cautionary note regarding forward-looking statements

This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.

Forward-looking information are based on management of the parties’ reasonable assumptions, estimates,

expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.