Great Bear’s Red Lake Properties

Great Bear’s flagship property is the 100% owned Dixie Project, which consists of 9,140 hectares of contiguous claims that extend over 22 kilometres. The Dixie Project is accessible year-round by highway and is proximal to major infrastructure provided by the town of Red Lake, located approximately 25 kilometres to the northwest.

From 2017 to 2019, Great Bear’s primary focus was on the Dixie Limb and Hinge zones. This work resulted in the discovery of the Hinge zone and numerous high grade intercepts being drilled within both targets, as well as verification of gold continuity in these targets. In 2019, Great Bear made several new high grade gold discoveries, the Bear-Rimini, Yuma, Auro, Yauro, Viggo and Gap zones. These  discovery areas have since been confirmed through drilling to comprise a large, continuous zone of gold mineralization, now known as the LP Fault zone.

The Dixie Project hosts two principle styles of gold mineralization:

•  High-grade gold in quartz veins and silica-sulphide replacement zones hosted by mafic volcanic rocks, and localized near regional-scale D2 fold axes.  These mineralization styles represent those observed in the Dixie Limb and Hinge zones, and are also typical of the significant mined deposits of the Red Lake district.

•  High-grade disseminated gold with broad moderate to lower grade envelopes that has been drilled along strike for over 4 kilometres in the LP Fault zone. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic volcanic and sedimentary rocks.

Early stage petrographic work completed by Great Bear and past operators provides key evidence of how gold occurs as free gold on the Dixie Project. Preliminary metallurgical studies for head assay characterization and cyanidation studies have been conducted on samples from the LP Fault, Dixie Limb and Hinge zones (see news releases date November 12, 2020 and January 27, 2021 for additional details on Dixie Limb and Hinge zone results). Results have returned consistently high grade gold recoveries for all three zones with samples described as free-milling, further confirming the free gold nature of mineralization at the Dixie Project.

Great Bear has analyzed over 260,000 geochemical samples to date from the Dixie Project. Results suggest the gold mineralized system at the Dixie Project generally has lower concentrations of trace elements such as arsenic, zinc and lead than are commonly observed within gold deposits across the Red Lake District, due to a lower content of accessory sulphide minerals. Other elements such as antimony and tellurium are also generally absent in the mineralized zones at the Dixie Project.

As at September 30, 2021, Great Bear has completed 478 drill holes over 235,000 metres into the LP Fault target, as part of its 4 kilometre long by 450 metre deep grid drill program. Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones have been noted to contain visible gold which mostly occurs as free gold, neither bound to nor within sulphide minerals. Core logging of oriented drill core has idendified over 64,000 structural measurements used for geological interpretation and modelling.

As at September 30, 2021, a total of 670 drill holes over 300,000 metres have been completed on the Dixie Project by Great Bear.  The figure below shows the progression of the drill holes completed on the LP Fault since discovery.

LP Fault – Drill Hole Progression as of September 2021

The Company is operating six drill rigs and is on track to drill 138,000 metres in over 250 drill holes in 2021. By the end of 2021, the Company anticipates that it will have drilled approximately 335,000 metres across the Dixie Project.

As of November 2021, the Company’s Phase 1 drill program at the LP Fault is substantially complete to an average 450 metres depth along 4 kilometres of strike length. Maiden mineral resource estimate modeling of the first 450 metres of mineralization from surface of the LP Fault is underway and is expected to be published no later than Q1 2022.

The Company has now completed preliminary metallurgical studies on the LP Fault, Dixie Limb and Hinge zones.  Further testing is anticipated with results being reported periodically as completed.  Advanced exploration work, such as baseline environmental studies, are ongoing.

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