June 11, 2020 – 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 $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Chris Taylor, President and CEO of Great Bear said, “Drill hole BR-137 has intersected the highest grade, widest gold interval at the LP Fault to date. It was completed in a 90 metre long previously undrilled segment of the LP Fault. Results include up to 18.5 ounces per tonne (576 g/t) gold over a metre, within a broader interval of approximately one ounce per tonne (31.33 g/t) gold over 20.55 metres. More importantly, all adjacent drill holes, both vertically on the same section and laterally along strike, are also strongly mineralized over significant widths, suggesting excellent continuity of high-grade gold mineralization.”

The Company has completed 115 of approximately 300 planned drill holes into the LP Fault target, as part of its 5 kilometre long by 500 metre deep grid drill program. Current drill hole locations and results are provided in Figure 1, and in Table 1, respectively. An updated long section of the LP Fault drilling is provided in Figure 2.

Drill Results Highlights:

New drill hole BR-137 on section 20000 was completed in a 90 metre gap in drilling. It intersected multiple mineralized intervals along 258.40 metres of core length, highlights of which include:
•576.00 g/t gold over 1.00 metre, within a broader interval of 31.33 g/t gold over 20.55 metres. The total mineralized interval is 14.65 g/t gold over 45.10 metres. Figure 3.
•Mineralization is present at the bedrock surface, and this is the widest, highest-grade gold interval drilled at the LP Fault to date.
•Intense alteration and deformation in BR-137 and surrounding drill holes includes strong silicification and partial to complete obliteration of primary rock textures. Gold mineralization occurs within disseminated planes or sheets that are parallel to the dominant structural fabric and appear to be vertically and laterally continuous between drill holes on the same drill sections, and across adjacent drill sections. Figures 4 and 5.

Continuity of gold mineralization is suggested by deeper drilling on the same section as BR-137:
•New drill hole BR-138 intersected the same mineralized zone 50 - 75 metres vertically below BR-137. Assays include 33.84 g/t gold over 2.40 metres, including 100.00 g/t gold over 0.50 metres, within a broader interval of 5.13 g/t gold over 26.00 metres. The total mineralized interval returned 3.52 g/t gold over 39.00 metres.
•The LP Fault gold mineralized zone on section 20000 has currently been drilled from bedrock surface to 250 metres vertical depth, and remains open to extension.

High-grade gold has been extended at depth on the adjacent drill section to the northwest:
•New drill holes BR-135 and BR-136 were completed 100 metres and 150 metres respectively vertically below previously released drill holes BR-133 and BR-134 (June 8, 2020). All four of these drill holes are located on drill section 20050, 50 metres to the northwest of BR-137 and BR-138. Figure 6.
•BR-135 intersected 35.56 g/t gold over 2.00 metres, within a broader interval of 5.19 g/t gold over 16.65 metres. The total mineralized interval returned 2.92 g/t gold over 32.50 metres.
•BR-136 intersected 24.22 g/t gold over 2.10 metres, which included 99.70 g/t gold over 0.5 metres, within a broader interval of 3.37 g/t gold over 39.00 metres. The total mineralized interval returned 1.95 g/t gold over 72.00 metres.
•The LP Fault gold mineralized zone on section 20050 has currently been drilled from bedrock surface to 350 metres vertical depth, and remains open to extension.

Continuity of gold mineralization is also observed on the adjacent drill section to the southeast:
•Drill section 19950, located 40 - 50 metres to the southeast of BR-133, includes previously reported drill hole BR-065 which returned 48.67 g/t gold over 8.70 metres (December 16, 2019).

Approximately 185 drill holes remain to be completed as part of the Company’s ongoing 2020 LP Fault drill program. Additional drill holes are also planned into the Dixie Limb and Hinge zones, in addition to other regional targets. The Company remains fully funded for this work and does not anticipate requiring further financing until 2022.

Webinar Today

The Company reminds interested shareholders that management is hosting a webinar detailing recent progress later today, June 11th at 11:15am PDT/2:15pm EDT. Management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link:

https://register.gotowebinar.com/register/3408563418758052620?source=WS

For those unable to participate, a recording of the webinar will be posted to the Company’s web site following the live broadcast.

Table 1: Current drill results. Drill sections are arranged from southeast (top of Table) to northwest (bottom of Table), corresponding to the map provided in Figure 1.

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