VANCOUVER, British Columbia - July 17, 2012 - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce that it is has successfully concluded a two day tour of three of its mineral properties in New Brunswick. Approximately 25 analysts, brokers, investors and other interested parties attended a tour of the Company's properties including the Porcupine Rare Earth and Base Metal Property, the Keymet Base and Precious Metal Property and the Otter Lake Tungsten and Gold property. One highlight of the tour occurred when the group had the opportunity to attend a lobster dinner at the Eel Ground community hall, which was addressed by Roger Augustine, Regional Chief of the New Brunswick and Prince Edward Island Assembly of First Nations. Great Atlantic Resources is regionally focused on exploration in Atlantic Canada, and part of our initiative is to build our community relations as we forge our way forward in our exploration efforts.

The Company further announces that it has negotiated a non-brokered private placement of up to 2,000,000 units at a price of $0.10 per unit in the capital stock for total gross proceeds of up to $200,000. Each unit will consist of one common share and one share purchase warrant. Each share purchase warrant will entitle the holder thereof to purchase one additional share of the Company at a price of $0.12 per share for a period of eighteen months from the closing date of the private placement. Closing of this placement is conditional upon approval of the TSX Venture Exchange. A finder's fee of up to 8% may be payable.

Options Announced

The Company also announces that it has granted options to purchase 190,000 shares to certain consultants and directors of the Company. The options shall be exercisable at a price of $00.15 per share and shall have a term of two years.

About Great Atlantic Resources Corp:

Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. Recently New Brunswick was announced as the number one mining region in the world. Great Atlantic has assembled the A-team of explorers in the region with decades of experience and known track records for discoveries. Currently the company is propelling forward under a project generation model with a focus on Antimony, Tungsten and Gold.

On Behalf of the board of directors

"Chris Anderson"

Christopher R Anderson,

CEO - President 604 488-3900

Read about Great Atlantic Resources Corp.: http://greatatlanticresources.com/corporate-overview/

Read Disclaimer: http://greatatlanticresources.com/legal-disclaimer/

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