Grande Portage Resources Announces C$5Million Investment by Eric Sprott

Rhea-AI Summary

Grande Portage Resources (OTCQB:GPTRF) announced a non-brokered private placement of 20,000,000 units at C$0.25 for gross proceeds of C$5.0 million, to be subscribed in full by Eric Sprott through a related vehicle. Each Unit includes one common share and one-half warrant; each whole warrant is exercisable at C$0.35 for two years. The company said net proceeds will fund exploration and development of the New Amalga Gold Project and general working capital, with securities subject to a four-month plus one day hold.

The release notes an Indicated Resource of 1,438,500 oz Au at 9.47 g/t and an Inferred Resource of 515,700 oz Au at 8.85 g/t (effective July 17, 2024). Closing is subject to TSXV approval; Mr. Sprott agreed not to exercise warrants that would push his stake above 19.99% until shareholder approval for control-person status is obtained.

Positive

• C$5.0M private placement fully subscribed by prominent investor Eric Sprott
• Expected year-end working capital of approximately $10M
• Indicated resource of 1,438,500 oz Au at 9.47 g/t

Negative

• Issuance of 20,000,000 units plus warrants creates potential shareholder dilution
• Warrants exercisable at C$0.35 for two years may increase share count if exercised
• Warrant exercise restricted until shareholder approval for >19.99% control is obtained

News Market Reaction

+11.65%

1 alert

+11.65% News Effect

On the day this news was published, GPTRF gained 11.65%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Private placement size: 20,000,000 units Unit price: C$0.25 per unit Gross proceeds: C$5,000,000 +5 more

8 metrics

Private placement size 20,000,000 units Non-brokered private placement to Eric Sprott at $0.25 per unit

Unit price C$0.25 per unit Pricing for non-brokered private placement

Gross proceeds C$5,000,000 Total raised in the private placement

Warrant exercise price C$0.35 per share Exercise price for whole warrants, exercisable for 2 years

Hold period 4 months + 1 day Statutory hold period on securities issued in the offering

Ownership cap 19.99% Covenant limiting Sprott’s ownership before control-person approval

Indicated resource 1,438,500 oz Au at 9.47 g/t New Amalga Indicated Resource, effective July 17, 2024

Inferred resource 515,700 oz Au at 8.85 g/t New Amalga Inferred Resource, effective July 17, 2024

Market Reality Check

Price: $0.3548 Vol: Volume 286,066 is 2.78x t...

high vol

$0.3548 Last Close

Volume Volume 286,066 is 2.78x the 20-day average of 102,813, indicating elevated interest ahead of this financing news. high

Technical Price at 0.2695 is trading above the 200-day MA of 0.15, reflecting an established uptrend into the announcement.

Peers on Argus

Peers showed mixed moves: CGLCF -3.83%, RDEXF +2.07%, AAUAF +14.71%, RGCCF -0.99...

Peers showed mixed moves: CGLCF -3.83%, RDEXF +2.07%, AAUAF +14.71%, RGCCF -0.99%, USGDF -0.22%. GPTRF’s +4.67% gain alongside deal-specific news points to a company-specific reaction rather than a broad gold-sector move.

Historical Context

5 past events · Latest: Dec 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Strategic financing	Positive	+11.7%	C$5M private placement with Eric Sprott to fund New Amalga exploration.
Dec 01	Offtake study	Positive	+0.1%	Independent offtake study validated offsite processing and smelter interest.
Nov 24	Technical survey	Positive	+2.6%	LiDAR survey results supporting engineering, environmental work and targeting.
Nov 20	Permitting update	Positive	-3.4%	Filed 2026 drill permit for up to 4,300 m in 14 holes; shares fell.
Nov 18	Marketing mandate	Positive	+18.2%	Hired Machai Capital for four‑month digital marketing program; stock jumped.

Pattern Detected

Recent news has been consistently project-advancing, with mostly positive price reactions and only one divergence on a permitting update.

Recent Company History

Over the past month, the company has focused on advancing the New Amalga Gold Project through technical, permitting, and marketing steps. A LiDAR survey, a 2026 drill permit filing, and an offtake study all highlighted robust Indicated and Inferred resources and preparation for a NI 43‑101 PEA expected in Q1 2026. A marketing engagement on Nov 18 coincided with a strong +18.18% move. Today’s C$5.0M strategic financing continues this pattern of de-risking and project advancement.

Market Pulse Summary

The stock surged +11.7% in the session following this news. A strong positive reaction aligns with p...

Analysis

The stock surged +11.7% in the session following this news. A strong positive reaction aligns with prior responses to accretive project news, such as the +18.18% move on the marketing mandate and +11.65% on this same C$5,000,000 financing. The investment by a cornerstone holder, combined with robust resources of 1,438,500 Indicated and 515,700 Inferred ounces, supported enthusiasm. Investors would still have needed to weigh dilution from 20,000,000 new units and future warrant overhang when assessing durability.

Key Terms

non-brokered private placement offering, common share purchase warrant, warrant, indicated resource, +4 more

8 terms

non-brokered private placement offering financial

"is pleased to announce a non-brokered private placement offering of 20,000,000 units"

A non-brokered private placement offering is when a company raises money by selling securities directly to a small group of investors without using an intermediary or broker. Think of it as borrowing from a circle of trusted backers instead of holding a public fundraiser; it can be faster and cheaper but may dilute existing shareholders, change ownership stakes, and signal the company’s funding needs and valuation to the market.

common share purchase warrant financial

"and one-half of one common share purchase warrant, with each whole warrant"

A common share purchase warrant is a tradable contract that gives its holder the right, but not the obligation, to buy a company’s common stock at a specified price within a set period. Think of it like a coupon for future shares: if the stock rises above the coupon price it can boost returns for the holder, but when used it increases the number of outstanding shares and can reduce each existing shareholder’s ownership and affect the company’s cash position.

warrant financial

"each whole warrant (a "Warrant") being exercisable to purchase one Common Share"

A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.

indicated resource technical

"hosts an Indicated Resource of 1,438,500 ounces of gold at an average grade"

An indicated resource is a quantity of minerals estimated from sample data with a moderate level of confidence—higher than a rough estimate but not as certain as a fully proven quantity. For investors, it signals a reasonable but still uncertain expectation that commercial extraction could be feasible; think of it like a well‑researched recipe where ingredients and amounts are likely correct but still need final confirmation before you start cooking or spending large sums.

inferred resource technical

"and an Inferred Resource of 515,700 ounces of gold at an average grade"

An inferred resource is an early-stage estimate of how much mineral material may be present and its likely quality, based on limited sampling and basic geological patterns rather than detailed data. It matters to investors because it indicates potential upside but carries high uncertainty—like a rough hand-drawn map that hints at treasure but needs much more surveying and testing before anyone can count on its value for planning or valuation.

g/t au technical

"average grade of 9.47 g/t Au (4,726,000 tonnes) and an Inferred Resource"

g/t Au stands for grams per tonne of gold and measures how much gold is contained in one tonne of rock or ore. Investors use it like a yield rate: higher g/t Au means more gold recovered from the same amount of material, which usually improves a mine’s revenue potential and lowers production cost per unit of metal. Think of it as the sweetness level of fruit—more sugar per piece makes each piece more valuable.

ni 43-101 regulatory

"Kyle Mehalek, P.E.., is the QP within the meaning of NI 43-101"

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

preliminary economic assessment technical

"preparations for next quarter's PEA. This latest capital infusion"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

AI-generated analysis. Not financial advice.

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BC / ACCESS Newswire / December 4, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement offering of 20,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for aggregate gross proceeds of C$5,000,000 (the "Offering") to be completed with Mr. Eric Sprott, through 2176423 Ontario Ltd., , who will subscribe for the entire Offering. Each Unit will consist of one common share (a "Common Share") and one-half of one common share purchase warrant, with each whole warrant (a "Warrant") being exercisable to purchase one Common Share at a price of $0.35 per Common Share for a period of two (2) years from the date of grant.

The Company intends to use the net proceeds raised from the Offering for exploration and development of the New Amalga Gold deposit as well as general working capital. The securities issued under the Offering will be subject to a four month plus 1 day hold period. Closing of the Offering is subject to customary closing conditions, including final approval of the TSX Venture Exchange (the "TSXV"). In addition, Mr. Sprott will covenant not to exercise any of the Warrants if such exercise will result in him holding in excess of 19.99% of the outstanding Common Shares of the Company, until the Company has obtained the shareholder approval for him to become a new Control Person (as such term is defined in the policies of the TSXV).

Ian Klassen, President and CEO, commented: "We are very pleased to see Mr. Sprott increase his equity position in Grande Portage, where he continues to be our largest shareholder. His ongoing support has enabled the Company to advance our high-grade gold project through successive drilling campaigns, baseline pre-NEPA studies, and preparations for next quarter's PEA. This latest capital infusion is significant, positioning the Company to end the year with approximately $10 million in working capital-our strongest financial position to date-as we continue to advance the development of the New Amalga Gold Project in Southeast Alaska."

The New Amalga Gold Project remains open to expansion in multiple directions and hosts 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) with an effective date of July 17, 2024. The current development concept envisions a small-footprint underground mining operation with third-party offsite processing, eliminating the need for an onsite mill or tailings storage facility.

Fig. 1: Location of New Amalga Mine Project

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 100% interest in the New Amalga property. The New Amalga Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over eight million ounces of gold.

The Company's updated NI 43-101 Mineral Resource estimate 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 mineral resource estimate 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 "Technical Report of the Herbert Gold Property, Juneau District, Southeast Alaska" dated July 17, 2024, 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 Offering, including timing, ability to meet the applicable closing conditions and completion thereof, statutory hold periods, ability to obtain shareholder approval for a new Control Person, and the use of proceeds, and expectations regarding the New Amalga Mine project, including the Company's mineral resources. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. These risks, uncertainties and other factors include, among others, the ability to complete the Offering, including the timing and ability to meet the applicable closing conditions, including all necessary approvals, the final use of proceeds of the Offering, the ability to obtain shareholder approval for a new Control Person and risks associated with the exploration and development of the New Amalga Mine and our mineral resources. 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.

Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure. These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment, such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data, and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE: Grande Portage Resources Limited

View the original press release on ACCESS Newswire

FAQ

What did Grande Portage (GPTRF) announce on December 4, 2025?

Grande Portage announced a C$5.0M non-brokered private placement of 20,000,000 units subscribed by Eric Sprott, each unit including one share and one-half warrant.

How will Grande Portage use the proceeds from the C$5.0M GPTRF financing?

The company intends to use net proceeds for exploration and development of the New Amalga Gold Project and for general working capital.

What are the warrant terms in the GPTRF private placement?

Each whole warrant is exercisable for one common share at C$0.35 per share for two years from grant.

How does the financing affect Eric Sprott's ownership in Grande Portage (GPTRF)?

Eric Sprott will subscribe for the full offering and has agreed not to exercise warrants that would raise his holdings above 19.99% until shareholder approval for control-person status is obtained.

What resource figures did Grande Portage report for the New Amalga Gold Project?

The company cites an Indicated Resource of 1,438,500 oz Au at 9.47 g/t and an Inferred Resource of 515,700 oz Au at 8.85 g/t (effective July 17, 2024).

Is the GPTRF private placement closing final and what approvals are required?

Closing is subject to customary conditions, including final approval of the TSX Venture Exchange and a four-month plus one-day hold period on securities.