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TICKERS: GBR; GTBDF

At Red Lake Project, Explorer Hits High-Grade Gold At and Near Zone Intersections
News Update

Source:

The Canadian company will keep drilling to elicit further information.

Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced in a news release that four new drill holes further proved the company's hypothesis that high-grade structural gold controls exist at Dixie between the Dixie Limb zone and the veins parallel to the Hinge zone.

The holes drilled targeting those potential controls at this Red Lake, Ontario project "confirmed that steeply plunging, high-grade gold occurs at and near these intersections, and that these intersections are priority drill targets within the Limb," the release noted.

Specifically, at the predicted intersection of the Hinge zone vein swarm and the Dixie Limb, results showed nearby thickened zone widths. They included 12.1 meters (12.1m) of 5.87 grams per ton (5.87 g/t) gold, which includes a high-grade core of 4.6m of 14.32 g/t gold.

Also at these predicted intersections, there were higher gold grades, of up to 1m of 54.51 g/t and 0.6m of 73.33 g/t.

Consequently, Great Bear intends to keep drilling these zones to better delineate "their number, size, gold endowment and extent to depth," President and CEO Chris Taylor said in the release.

The exploration company also reported it granted a total of 400,000 stock options to employees, directors, consultants and advisors of Great Bear. Recipients may exercise the options at $5.31 per share within five years.

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