Great Atlantic Resources creates Atlantic Canada Tungsten Mining subsidiary

Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce a corporate restructuring designed to position the Company as a focused Atlantic Canada tungsten platform. The Company currently holds one wholly-owned subsidiary, Golden Promise Mines Inc., and works with three joint venture partners who are advancing several of the Company's mineral assets. The next step in the Company's growth strategy is to expand its presence in the tungsten space.

2015 Rock Sampling of quarry rubble at South Quarry Property

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"Tungsten has emerged as a clear priority critical metal for Canada, the United States and our allies, and the recent policy and funding momentum behind critical minerals has made that crystal clear," said Anderson, President and CEO of Great Atlantic . "The creation of Atlantic Canada Tungsten Mining Corp. allows us to consolidate our tungsten assets – from South Quarry in Newfoundland to our expanded position surrounding the former Adex Mount Pleasant property (site of past producing Mount Pleasant Tungsten – Molybdenum Mine) in New Brunswick – into a focused vehicle with its own identity. With regional tungsten projects advancing around us, we are setting the stage today so that Great Atlantic is ready to move quickly should the right opportunity present itself tomorrow."

Due to recent developments in the United States and Canada concerning critical minerals, the advancement of tungsten as a priority asset – and the level of interest in tungsten itself – has become crystal clear. As a result, Great Atlantic has created a new wholly-owned subsidiary, Atlantic Canada Tungsten Mining Corp. ("ACT"), and intends, over time, to migrate the Company's tungsten assets into ACT. These are expected to include the South Quarry Tungsten Property in central Newfoundland, the Company's recently expanded Mount Pleasant area claims in southwestern New Brunswick, and the Nashwaak Lake Property claims near the Sisson Project of North Resources Ltd. in western New Brunswick among other tungsten assets in the Company's portfolio.

The creation of Atlantic Canada Tungsten Mining Corp. is an internal corporate reorganization. It does not affect the Company's share capital, and no action is required by shareholders. Any transfer of assets to ACT will be completed in accordance with applicable corporate, securities and TSX Venture Exchange requirements.

Setting the Stage for Future Opportunity

The Company believes Atlantic Canada is uniquely positioned in the North American tungsten space. The South Quarry Property benefits from excellent infrastructure, including a paved provincial highway transecting the property, and is located approximately one hour by road from port facilities. The property's quarry setting may also allow future bulk-sample collection and optical sorting test work, presenting a potential low-cost path to evaluate tungsten product opportunities.

In neighboring New Brunswick, Northcliff Resources Ltd.'s Sisson Tungsten-Molybdenum Project in the central part of the province is one of Canada's federally supported tungsten projects. Should Sisson or other regional projects advance toward production, or should other companies seek high-grade tungsten feed, the Company believes Atlantic Canada Tungsten Mining Corp. could be well positioned to evaluate such opportunities. The Company is not party to any agreement with Northcliff Resources Ltd. Or any other party in respect of such opportunities, and there is no assurance that any transaction or business relationship will result. This restructuring sets the stage should the right opportunity present itself down the road.

Scheelite in South Quarry Rock Samples

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Tungsten - A Strategic and Critical Metal

Tungsten is recognized as a strategic and critical metal by the United States, the European Union and other allied jurisdictions. With the highest melting point of any metal, tungsten is essential to defense, aerospace, machining, tooling and energy applications, and there are few practical substitutes in many of its uses. Global tungsten supply remains highly concentrated, with China accounting for the majority of world production, and Western governments have identified secure tungsten supply as a priority for North American and allied critical mineral supply chains.

Great Atlantic's tungsten portfolio is anchored by the South Quarry Tungsten Property in central Newfoundland, where the Company's 2026 prospecting program is underway and a six-trench mechanical trenching program has been approved, and by the Company's Mount Pleasant area claims in southwestern New Brunswick, recently expanded by over 6,000 hectares through the staking of three new claims surrounding the former Adex Minerals' Mount Pleasant Property (site of former Mount Pleasant Tungsten - Molybdenum Mine).

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

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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.

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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 Resources 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/311994

TMX Newsfile

September 1, 2026 - 6:00 AM PDT

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