Grande Portage Resources Announces Acceptance of the New Amalga Gold Project to the Covered Projects FAST-41 Program
Rhea-AI Summary
Grande Portage Resources (OTCQX: GPTRF) announced that its New Amalga Gold Project was accepted on July 30, 2026 as a “Covered Project” under the U.S. Federal Permitting Improvement Steering Council’s FAST-41 program. This status is intended to provide coordinated federal agency review, predictable regulatory timelines, and public tracking via the Permitting Dashboard.
The company holds a 100% interest in New Amalga, located about 25 km north of Juneau, Alaska, within the Juneau Gold Belt. An updated NI 43-101 Mineral Resource Estimate effective July 17, 2024 outlines Indicated resources of 1,438,500 oz gold at 9.47 g/t and Inferred resources of 515,700 oz gold at 8.85 g/t, plus Indicated 891,600 oz silver at 5.86 g/t and Inferred 390,600 oz silver at 7.33 g/t.
Positive
- FAST-41 Covered Project status granted July 30, 2026 for New Amalga
- 1,438,500 oz Indicated gold at 9.47 g/t Au (4,726,000 tonnes)
- 515,700 oz Inferred gold at 8.85 g/t Au (1,813,000 tonnes)
- 891,600 oz Indicated silver at 5.86 g/t Ag (4,726,000 tonnes)
- 390,600 oz Inferred silver at 7.33 g/t Ag (1,813,000 tonnes)
- Company holds 100% interest in the New Amalga property
Negative
- None.
News Market Reaction – GPTRF
In the Aug 4 session, GPTRF declined 2.51%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQX: GPTRF) (FSE: GPB) ("Grande Portage" or the "Company") is pleased to announce the acceptance of the New Amalga Gold Project as a "Covered Project" in the Federal Permitting Improvement Steering Council's FAST-41 program ("FAST-41") on July 30, 2026.
Ian Klassen, the Company's President & CEO said, "Grande Portage would like to thank the Permitting Council for granting the New Amalga Gold Project 'Covered Project' status in the FAST-41 program. We look forward to working with the Permitting Council, the US Forest Service, the US Army Corps of Engineers, and other agencies to establish the regulatory and permitting timeline for the project. New Amalga's 'Covered Project' status will deliver predictable regulatory review timelines, maintain coordination between various federal agencies having jurisdiction over different aspects of the project, enhance accountability and transparency, and ensure our project meets and exceeds the highest standards of environmental management and regulatory compliance."
Background on FAST-41
FAST-41 (under Title 41 of the Fixing America's Surface Transportation (FAST) Act), established in 2015, aims to improve the federal permitting process for large infrastructure projects by increasing transparency, coordination, and accountability. The Federal Permitting Improvement Steering Council (Permitting Council) consists of the Executive Director and Deputy Secretary level representatives from 13 federal agencies as well as the Director of the Office of Management and Budget and the Chair of the Council on Environmental Quality. The Permitting Council brings federal agencies and stakeholders together to improve the permitting process for critical infrastructure projects. It establishes a structured process and a public-facing Permitting Dashboard to track projects, coordinate among agencies, and set public timetables for environmental reviews and authorizations. This helps ensure projects move forward efficiently and predictably. More information on FAST-41 projects can be found on the Federal Permitting Dashboard: www.permits.performance.gov
Kyle Mehalek, P.E.., is the QP within the meaning of NI 43-101 and has reviewed and approved the technical disclosure in this release. Mr. Mehalek is independent of Grande Portage within the meaning of NI 43-101.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on advancing the New Amalga Mine project, the outgrowth of the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a
The Company's updated NI#43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024. Additional information on the New Amalga Mine project is available in the technical report titled "Preliminary Economic Assessment for the New Amalga Gold Project Juneau District, Southeast Alaska" dated February 11, 2026, which is available under Grande Portage's SEDAR+ profile at www.sedarplus.ca.
ON BEHALF OF THE BOARD
"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: the commercial offtake, equity investment and construction loan and overrun facility from Ocean Partners, including terms, timing, benefits and synergies and use of proceeds thereof; Ocean Partners' future shareholdings; and advancement of the Project, including the proposed path to production timeline, economics and timing of the Environmental Impact Statement. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties, These assumptions, risks, uncertainties and other factors include, among others: ability to finalize definitive agreements relating to the commercial offtake, equity investment and construction loan and overrun facility, complete the transactions contemplated herein, and to obtain all necessary approvals; risks associated with the exploration and development of the New Amalga Mine and our mineral resources; including obtaining all necessary approvals and the timing thereof; the current or future price of gold, silver and other commodities; anticipated costs, expenses and working capital requirements; ability to meet the proposed production timeline for the Project; general business and economic conditions and political climate; and other assumptions, risks, uncertainties and other factors as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307572