Grande Portage Resources Confirms Non-Brokered Private Placement Finder Fees

Rhea-AI Summary

Grande Portage Resources (GPTRF) has confirmed the finder's fees for its previously announced non-brokered private placement. The company paid $285,600 in cash and issued 1,428,000 non-transferable warrants as finder's fees. Each Finder's Warrant allows the holder to purchase one common share at $0.20 per share, valid for 36 months from closing. The fees are subject to securities legislation and TSX Venture Exchange policies. The company plans to use the net proceeds to advance exploration and development of its New Amalga Gold project in Alaska and for general working capital.

Positive

• The company secured funding for exploration and development of its New Amalga Gold project
• Finder's Warrants have a 36-month exercise period, providing long-term potential

Negative

• Cash payment of $285,600 for finder's fees reduces available capital
• Potential future dilution from 1,428,000 Finder's Warrants if exercised

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

VANCOUVER, BC / ACCESS Newswire / June 18, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") ") the Company wishes to confirm the finders' fees paid on its previously announced non-brokered private placement closing numbers.

The Company paid an aggregate of $285,600 in cash and issued an aggregate of 1,428,000 non-transferable warrants (the "Finders Warrants") as finder's fees in connection with this Offering. Each Finder's Warrant entitles the holder to acquire one common share of the Company at $0.20 per share for 36 months from the date of closing. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies.

Grande Portage intends to use the net proceeds of the Offering for furthering the exploration and development of its New Amalga Gold project in Alaska, as well as general working capital purposes.

About Grande Portage:

Grande Portage is a publicly traded mineral exploration company focused on the New Amalga Gold project (formerly, named the Herbert Gold project) situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the New Amalga Gold project. The New Amalga Gold project 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 seven million ounces of gold.

The Company's updated NI 43-101 mineral resource estimate reported at a base case cut-off grade of 2.5 grams per tonne gold (g/t Au) 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 "Technical Report of the Herbert Gold Property, Juneau District, Southeast Alaska" dated July 17, 2024, which is available under Grande Portage's profile at www.sedarplus.com.

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", "plans" or "intends". Forward-looking statements or information contained in this release include, but are not limited to, statements or information with respect to: 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, ability to obtain all necessary approvals, the final use of proceeds of the Offering, 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.

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 finder's fees did Grande Portage Resources (GPTRF) pay for its private placement?

Grande Portage Resources paid $285,600 in cash and issued 1,428,000 non-transferable warrants as finder's fees.

What are the terms of Grande Portage Resources' Finder's Warrants?

Each Finder's Warrant allows the holder to purchase one common share at $0.20 per share, valid for 36 months from the closing date.

How will Grande Portage Resources use the private placement proceeds?

The company will use the proceeds for exploration and development of its New Amalga Gold project in Alaska and general working capital purposes.

What is the exercise price and expiration of GPTRF's Finder's Warrants?

The Finder's Warrants have an exercise price of $0.20 per share and expire 36 months from the closing date.