Great American Energy, Inc. to Commence Exploration Program on Rare Earth Project by March 2013

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Great American Energy, Inc. to Commence Exploration Program on Rare Earth Project by March 2013

DENVER--(BUSINESS WIRE)-- Great American Energy, Inc. (OTCBB: SRBL) ("Great American Energy" and/or "the Company") announces the Company will commence its exploration program on the Bear Creek Rare Earth Property in British Columbia (BC), Canada, by March 2013.

According to a report by Dr. Stewart A. Jackson, PhD, P, GeoI. (Feb. 2011), the Bear Creek Property contains potential for significant resources of rare earth elements (REEs) and may contain rare earth oxides.[1] REEs are critical to a wide range of products, including many emerging green energy technologies (e.g., Hybrid Cars, Plug-in Hybrid Electric Vehicles or PHEVs, wind turbines, compact florescent lighting); high tech applications (e.g., computer disk drives, cell phones); defense systems and many other applications.


On June 7, 2012 (effective date of April 28, 2012), the Company entered into an option agreement (the "Option Agreement") to acquire an undivided 60% interest in the Bear Creek Rare Earth Property. The property consists of 10 mining claims containing ~7,311 acres (~2,959 hectares) a few miles northeast of the mining community of Trail, BC.

According to the terms of the Option Agreement, the option must be exercised on or before April 30, 2015. To exercise the option, the Company must fund mineral exploration work on the property totaling an agreed upon dollar amount no later than April 30, 2015.

As such, the Company is currently developing a two-phase evaluation program plan designed to measure the distribution and amounts of the property's various rare earth elements in a three dimensional array. Exploration activities will include a surface sampling program on both a grid and geological parameter basis, and a geophysical survey to indirectly map the variations with depth within the host rock.

Great American Energy's CEO, Felipe Pimienta, commented: "We know that samples collected on the Bear Creek property provided indications of rare earth elements at varying levels of potential contribution to value. We also know the property lies within the Rocky Mountain Rare Metal Belt. Now our exploration program will move us closer to better determining the mineral and economic potential of the Bear Creek property."

MORE INFORMATION

Learn more about the Bear Creek REE Property, the Company, and its recent news at Great American Energy's website: http://www.gamericanenergy.com.

ABOUT GREAT AMERICAN ENERGY, INC.

Great American Energy, Inc. is a publicly traded (OTCBB: SRBL) mineral exploration and development company focused on supporting America's growing clean energy and clean tech industries. Based in Denver, Colorado, Great American Energy is dedicated to responsibly identifying, acquiring and developing mineral assets in America and US-friendly countries. The Company's portfolio of projects currently targets lithium and rare earth element production, both of which are essential to America's clean energy and clean tech industries. For more information on the Company and its activities, visit Great American Energy's website at http://www.gamericanenergy.com.

ON BEHALF OF THE BOARD OF DIRECTORS,

Great American Energy, Inc.
Felipe Pimienta, CEO

999 18th Street
Suite 3000
Denver, Colorado
80202

This press release includes certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Great American Energy, Inc.'s current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Great American Energy Inc.'s anticipated new developments, business prospects, financial performance, strategies and similar matters. Great American Energy, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.

SOURCES:
1. Bear Creek Rare Earth Project Report. Dr. Stewart A. Jackson, PhD, P, GeoI., Feb. 12, 2011.



Great American Energy, Inc.
Investor Relations:
Steve Carr
1-800-673-5088
ir@gamericanenergy.com

KEYWORDS:   United States  North America  Canada  Colorado

INDUSTRY KEYWORDS:

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