Great Bear Announces Warrant Extension

Vancouver, British Columbia--(Newsfile Corp. - August 23, 2017) - Great Bear Resources Ltd. (TSXV: GBR) (the "Company" or "Great Bear") today announced that it has extended the terms of certain share purchase warrants exercisable at $0.40 (the "Warrants").A total of 252,500 Warrants are exercisable until September 8, 2017 (the "Expiry Date"), each exercisable into one common share of the Company at an exercise price of $0.40 per common share. These Warrants represent share purchase warrants previously issued by the Company under a private placement announced June 1, 2015. The extension would extend the term of the warrants to September 8, 2018 and is subject to TSX Venture Exchange approval.

About Great Bear Resources

Great Bear's principal assets are the Dixie Lake and West Madsen gold projects located in the Red Lake district of Ontario.The Dixie Lake project is road-accessible and consists of a from-surface structurally-controlled gold mineralized zone with over 1.5 kilometres of strike length and over 160 drill holes with mineralization from surface to over 500 vertical metres depth, which remains open to extension along strike and at depth.The West Madsen properties are also road-accessible and consist of two claim blocks located along the strike-extension of regional structures that control gold mineralization at the nearby Madsen mine of Pure Gold Mining Inc.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

"Chris Taylor"

Chris Taylor, President and CEO

Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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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