$2,032,500 PRIVATE PLACEMENT CLOSED
March 16, 2007
Great Bear Resources Ltd. (the "Company") is pleased to announce that it has completed a non-brokered private placement, selling 8,130,000 common shares at the price of C$0.25 per share to raise gross proceeds of C$2,032,500. Finders' fees have been paid in respect of a portion of the private placement. All shares issued in connection with the private placement 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 This news release has not been approved by any securities regulatory authority. It may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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