January 29, 2014 – Great Bear Resources Ltd. (TSX-V: GBR, “Great Bear”, or the “Company”) provides an update on recent positive developments at the Perdito Project, Inyo County, California. The Company is pleased to announce:
-The addition of Mr. Mark Reischman to the Company’s Technical Advisory team. Mr. Reischman adds key expertise to the Great Bear team, as he operated the Perdito project for BHP Ltd. (NYSE: BHP, “BHP”) in the late 1990′s and discovered the Dragonfly oxide gold target at that time. Mr. Reischman is a professional geologist with over 25 years’ experience involving epithermal and mesothermal gold systems in the Southwestern United States, including at Atna Resources’ (TSX-V: ATN) Briggs mine, which is also located in Inyo county, California, and the Bullfrog North deposit currently being explored by Corvus Gold (TSX: KOR) in Nye county, Nevada.
-The Company has retained Mr. Brock Riedell to map and geologically model various high priority areas of the project. Mr. Riedell, an expert in porphyry copper-molybdenum-gold systems, has more than thirty years’ experience with the discovery, exploration and delineation of gold and porphyry projects for various major, mid-tier and junior mining companies. He currently serves on the Technical Advisory Board of Redhawk Resources (TSX: RDK), and regularly consults on the exploration and development of Redhawk’s Copper Creek copper-molybdenum project in Arizona. Results of Mr. Riedell’s work will be used to assist with planning of upcoming work including selection of new drill targets.
-The Company has retained Mr. Pat Gochnour to assist with the Company’s drill program permitting with Bureau of Land Management (BLM). Mr. Gochnour is a leading independent expert with over 30 years’ experience in the mine development and exploration permitting fields and has been active across the United States including California on behalf of a number of major, mid-tier and junior mining companies.
-The Company has added to the Perdito project land position with an additional 19 claims covering approximately 150 hectares. The new claims extend the main claim block to the northwest, in order to control a number of at-surface copper showings adjacent to the Stegosaurus Ridge copper porphyry target. Results from an extensive suite of bedrock geochemical samples are pending from this area. The main claim block now covers an approximately 3950 hectare area.
-The Company has submitted its Phase 1 drill proposal to the Bureau of Land Management. Phase 1 drilling will occur in 2014 and will include rehabilitation of the drill access road originally constructed during the late 1990′s by BHP, and approximately 2500 metres of drilling of high priority oxide gold targets in the Discovery and Dragonfly areas.
The Company continues to explore the Perdito project through its ongoing field program and also through the digitization, computer modeling and interpretation of the large volume of historic data generated by the project`s historic operators BHP Ltd., Newmont Mining Corp. (NYSE: NEM), Asamera Minerals Inc. and Mobil Corp.’s Exploration Group.
Mr. Chris Taylor, M.Sc. P.Geo, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-681-0037.
ON BEHALF OF THE BOARD
Chris Taylor, President and CEO
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This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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