PRIVATE PLACEMENT INCREASED TO $2,040,000

March 2, 2007

Great Bear Resources Ltd. (the "Company") is pleased to announce that the non-brokered private placement announced February 22, 2007 has been increased from $1,500,000 to $2,040,000. The Company will now issue 8,160,000 shares at the price of C$0.25 per share.

All shares issued in connection with the private placements are subject to a four month hold period.

The proceeds from the private placement will be used to fund the Company's mineral exploration projects and for general working capital.

ON BEHALF OF THE BOARD

"Wan Jung"

Wan Jung
President and Director