Grande Portage Resources Announces Extension of Expiry Date for Warrants

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Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) has applied to the TSX Venture Exchange to extend the expiry date of 5,550,000 outstanding unlisted common share purchase warrants. The warrants, currently exercisable at $0.30 per share, were initially issued as part of a non-brokered unit private placement in May 2023. The company seeks to extend the warrants' expiry date to May 10, 2026 at 4:30 pm PST, subject to TSX Venture Exchange approval.

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VANCOUVER, BC / ACCESS Newswire / April 25, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") announces that it has applied to the TSX Venture Exchange to extend the expiry date for 5,550,000 of its outstanding unlisted common share purchase warrants (the "Warrants"). The Warrants, each of which is currently exercisable to purchase one common share of the Company at $0.30 per share, were originally issued by the Company as part of non-brokered unit private placement financing completed in May 2023. The Company will extend the expiry date of the Warrants to 4:30 pm PST on May 10, 2026, subject to TSX Venture Exchange approval.

The Company currently has an aggregate of 5,550,000 Warrants issued and outstanding pertaining to the Private Placement, all of which are eligible for amendment, pursuant to the policies of the Exchange.

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 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 (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.

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". 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. 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.

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 is the new expiry date for Grande Portage Resources (GPTRF) warrants?

Subject to TSX Venture Exchange approval, the warrants' expiry date will be extended to May 10, 2026 at 4:30 pm PST.

How many warrants are affected by Grande Portage Resources' (GPTRF) extension request?

The extension affects 5,550,000 outstanding unlisted common share purchase warrants.

What is the exercise price of Grande Portage Resources' (GPTRF) warrants?

The warrants are exercisable at $0.30 per common share.

When were the original GPTRF warrants issued?

The warrants were originally issued as part of a non-brokered unit private placement in May 2023.