March 16, 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.

Chris Taylor, President and CEO of Great Bear said, “We returned to the northwestern kilometre of the LP Fault zone after more than a year drilling elsewhere along strike, and completed seven new drill holes, four of which are located within a 200 metre long previously undrilled segment of the zone. We encountered new high-grade gold mineralization in addition to the expected bulk tonnage intervals, and will undertake additional drilling in this area over the coming months.”

Note the drill holes in this release are located 1.93 – 2.40 kilometres northwest of the drill holes provided in the Company’s news release of March 11, 2021, within the same multi-kilometre continuously mineralized gold zone, the LP Fault.

This news release provides results from 7 new LP Fault drill holes completed along 250 metres of strike length. Great Bear has now published results from 267 LP Fault drill holes and anticipates at least 133 additional LP Fault drill holes will be completed by the end of 2021, for a total of at least 400 drill holes.

New LP Fault drill results from this release are provided in Table 1, Figure 1, Figure 2 and Figure 3. Table 2 contains highlighted drill results from initial drilling completed from May 2019 to March 2020.

New LP Fault Drill Results – Northwest Area
•Several drill holes were planned for previously undrilled section 22200, testing a 200 metre long undrilled segment of the LP Fault zone. The four deepest holes were completed first and are reported in this release, testing from approximately 180 to 550 metres vertical depth. All drill holes intersected the same geology with gold mineralization. Near-surface drilling will follow.
•Drill hole BR-271 intersected several mineralized zones including: ?25.12 g/t gold over 4.25 metres from 406.25 to 410.50 metres
?This included a high-grade core of 197.00 g/t gold over 0.50 metres from 407.50 to 408.00 metres.
?1.11 g/t gold over 23.65 metres from 460.35 to 484.00 metres.
?1.07 g/t gold over 53.60 metres from 495.50 to 549.10 metres.

•Drill hole BR-239 also intersected several mineralized zones including: ?19.00 g/t gold over 1.30 metres from 268.50 to 269.80 metres.
?1.01 g/t gold over 42.50 metres from 377.20 to 419.70 metres.

•Drill hole BR-270 intersected 0.85 g/t gold over 81.70 metres from 397.50 to 479.20 metres.

The Company formerly referred to this area as the Bear-Rimini or Discovery zone, prior to determining the LP Fault comprises a multi-kilometre continuously mineralized gold zone. The Company’s LP Fault discovery drill hole DNW-011 was completed here, intersecting 12.33 g/t gold over 14.00 metres, 194.21 g/t gold over 2.00 metres, and 0.74 g/t gold over 50.60 metres (May 28, 2019). Also see Table 2.
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