Grande Portage Stakes Added Claims to Accommodate Potential Surface Facilities at the New Amalga Gold Project

Rhea-AI Summary

Grande Portage Resources (GPTRF) has staked 64 new federal claims adjacent to its existing New Amalga Gold project in Southeast Alaska. These claims will accommodate future surface facilities for a potential underground mine, including infrastructure for electrical utilities, equipment maintenance, ore sorting, and other operational needs. The company plans to utilize off-site processing through a third party, leveraging the project's proximity to tidewater and existing paved highway (less than 4 miles away). This strategy eliminates the need for on-site ore processing facilities, reducing construction costs and environmental impact. Key benefits include no on-site tailings disposal, no permanent waste rock storage, and no chemical reagents usage. Environmental studies are ongoing to optimize facility layout while protecting local ecosystems.

Positive

• Strategic acquisition of 64 new federal claims expands project footprint
• Project location near tidewater and paved highway (< 4 miles) enables cost-effective off-site processing
• Off-site processing eliminates need for expensive concentrator construction, reducing CAPEX
• Environmental impact minimized through no on-site tailings, waste rock storage, or chemical reagents
• Simplified environmental review and permitting process due to reduced operational footprint

Negative

• Dependence on third-party processing facilities could create operational risks
• Transportation costs for ore processing may impact operational expenses

VANCOUVER, BC / ACCESS Newswire / May 7, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has staked 64 new federal claims adjacent to its existing exploration claims at the New Amalga Gold project in Southeast Alaska.

The added claims are intended to accommodate future surface facilities in support of a potential underground mine at the site. Such facilities could include buildings and infrastructure for:

• Electrical utilities

• Equipment maintenance

• Ore sorting

• Backfill preparation

• Supplies warehousing

• Water treatment

• Office and administration

Environmental studies and fieldwork are ongoing to determine the ideal layout of the potential surface facilities to ensure protection of fish habitat, maintain integrity of wetlands, and minimize overall ecological footprint.

The potential surface facilities are not planned to include an ore processing plant. Due to the resource location near tidewater and less than 4 miles (6.5km) from existing paved highway (Fig. 1), the Company considers off-site processing by a third party to be the most favorable configuration for the project. This setup provides several potential benefits:

• Eliminates the need to build a concentrator, greatly reducing project construction CAPEX

• Results in no tailings generated at the site, removing the need to develop a tailings disposal facility near the mine.

• Avoids the need for permanent waste rock storage facilities. All waste rock generated from mine access development would be returned to the underground workings for stope backfill.

• No use of chemical reagents for gold processing at the site.

• Dramatically reduces land usage and overall environmental footprint.

• Greatly facilitates post-mining closure and reclamation.

• Simplifies the environmental review and permitting process.

Ian Klassen, President and CEO comments: "We are extremely pleased to have secured these additional claims for the future mine surface facilities - a key milestone in our work towards preparing for the environmental review and permitting process. As always, our commitment is to exceed all regulatory requirements and environmental expectations while contributing to the local economy and creating long-term job opportunities for the community of Juneau".

Fig. 1: Location of the New Amalga Gold Project

The Company is also pleased to confirm that it has received all necessary regulatory approvals for its upcoming 2025 field program at its New Amalga Gold project (formerly the Herbert Gold 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 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.

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.

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 significance of Grande Portage's (GPTRF) new claim staking at the New Amalga Gold Project?

The 64 new federal claims will accommodate future surface facilities for a potential underground mine, including infrastructure for utilities, maintenance, and operations, while enabling off-site processing to minimize environmental impact.

How will GPTRF's off-site processing strategy benefit the New Amalga Gold Project?

Off-site processing eliminates the need for on-site concentrator construction, reduces CAPEX, removes tailings disposal requirements, and simplifies environmental permitting while minimizing ecological footprint.

What infrastructure is planned for Grande Portage's New Amalga Gold Project surface facilities?

The surface facilities will include infrastructure for electrical utilities, equipment maintenance, ore sorting, backfill preparation, supplies warehousing, water treatment, and office administration.

Where is Grande Portage's (GPTRF) New Amalga Gold Project located?

The New Amalga Gold Project is located in Southeast Alaska, less than 4 miles from existing paved highway and near tidewater, enabling efficient transportation for off-site processing.

How does Grande Portage plan to manage environmental impact at the New Amalga Gold Project?

The company is conducting environmental studies to protect fish habitat and wetlands, while using off-site processing to eliminate on-site tailings, waste rock storage, and chemical reagents use.