Great Atlantic Resources has created a new wholly-owned subsidiary, Atlantic Canada Tungsten Mining Corp., to consolidate its tungsten assets across Newfoundland and New Brunswick into a focused operational vehicle.

The internal reorganization does not affect the company’s share capital, and no action is required by shareholders. Any transfer of assets to the subsidiary will be completed in accordance with applicable corporate, securities and TSX Venture Exchange requirements.

The new subsidiary is expected to house assets including the South Quarry Tungsten Property in central Newfoundland, expanded Mount Pleasant area claims in southwestern New Brunswick covering over 6,000 hectares surrounding the former Adex Minerals Mount Pleasant property, and the Nashwaak Lake Property claims near Northcliff Resources' Sisson Project in western New Brunswick.

Great Atlantic's South Quarry property in central Newfoundland, which anchors the new tungsten subsidiary, has been advanced through exploration programs since 2023 targeting tungsten, gold, and beryl mineralization. The company is scheduled to commence a six-trench mechanical trenching program at the South Quarry Property in early September 2026.

“Tungsten has emerged as a clear priority critical metal for Canada, the United States and our allies, and the recent policy and funding momentum behind critical minerals has made that crystal clear,” said Anderson, President and CEO of Great Atlantic . “The creation of Atlantic Canada Tungsten Mining Corp. allows us to consolidate our tungsten assets – from South Quarry in Newfoundland to our expanded position surrounding the former Adex Mount Pleasant property (site of past producing Mount Pleasant Tungsten – Molybdenum Mine) in New Brunswick – into a focused vehicle with its own identity. With regional tungsten projects advancing around us, we are setting the stage today so that Great Atlantic is ready to move quickly should the right opportunity present itself tomorrow.”

— President and CEO of Great Atlantic

Read the full announcement: Great Atlantic Resources Creates Wholly-Owned Subsidiary "Atlantic Canada Tungsten Mining Corp."