Grande Portage to Present at 2025 Alaska Miners Association Annual Convention

Rhea-AI Summary

Grande Portage Resources (OTCQB:GPTRF) provided updates on the New Amalga Gold Project in Southeast Alaska, reporting an Indicated Resource of 1,438,500 oz Au at 9.47 g/t (4,726,000 tonnes) and an Inferred Resource of 515,700 oz Au at 8.85 g/t (1,813,000 tonnes). The project concept envisions a small-footprint underground mine with third-party offsite processing to avoid an onsite mill or tailings storage facility.

Grande Portage will present on November 5, 2025 at the Alaska Miners Association annual convention and expects a 43-101 Preliminary Economic Assessment to be completed in February 2026. The company contracted RESPEC Inc. to perform roadway and traffic studies for ore haulage on Glacier Highway and to assist with mining cost estimation. Subject to TSXV approval, the company granted 2,200,000 incentive stock options exercisable at $0.25 until Nov 2, 2030.

Positive

• Indicated resource: 1,438,500 oz Au at 9.47 g/t
• Inferred resource: 515,700 oz Au at 8.85 g/t
• PEA scheduled for February 2026
• RESPEC contracted for roadway studies and mining cost estimation

Negative

• 2,200,000 incentive stock options granted at $0.25, exercisable to Nov 2, 2030, which may dilute shareholders if exercised
• Project economics and permitting remain unproven until the PEA completes Feb 2026

VANCOUVER, BC / ACCESS Newswire / November 3, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to report updates regarding its New Amalga Gold Project in Southeast Alaska.

The 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). 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.

Upcoming Alaska Miners' Association Presentation

On November 5^th Grande Portage will present a project overview during the "Advanced Exploration Projects" session of the Alaska Miners Association annual convention in Anchorage. This conference is the premier gathering for the mining industry in Alaska and includes representatives from operating mines, advanced development projects, early-stage exploration prospects, vendors, regulators and investors.

Grande Portage's presentation, titled "New Amalga Gold Project - Developing an Ultra-Low-Footprint Underground Mine in Southeast Alaska", will focus on the company's exploration efforts as well as the decisions which led to the project development strategy currently being evaluated in the company's ongoing Preliminary Economic Assessment, scheduled for completion in February 2026.

Grande Portage is also pleased to announce the appointment of the following consultant.

RESPEC Inc. - Roadway & Traffic Studies

A versatile engineering firm with a strong local presence and track record in Alaska projects, RESPEC Inc. provides broad range of experience across mining, civil, environmental, and water resources projects. Grande Portage has contracted RESPEC to perform initial roadway and traffic studies relating to the haulage of New Amalga material on Glacier Highway from the project site to the future ore dock at Cascade Point.

The firm has extensive experience with this type of project in Alaska, including studies for the Kinross/Contango Manh Choh Gold Mine ore haulage, engineering for the Ambler Mining District Access Road, and previous engineering for road upgrades to the same portion of Glacier Highway as may be utilized by the New Amalga project.

Separately, RESPEC Inc. is also performing mining cost estimation work for the project's upcoming 43-101 Preliminary Economic Assessment as discussed in the October 20, 2025 news release.

Incentive Share Options

Lastly, the Company wishes to announce that, subject to TSX Venture Exchange approval, it has granted incentive stock options to various directors, officers and consultants to purchase up to 2,200,000 common shares exercisable on or before Nov 2, 2030 at a price of $0.25 per share.

Fig. 1: Location of the New Amalga 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 resource does Grande Portage report for the New Amalga Gold Project (GPTRF)?

The company reports 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.

When will Grande Portage (GPTRF) present at the Alaska Miners Association convention?

Grande Portage will present on November 5, 2025 during the Advanced Exploration Projects session in Anchorage.

When is the New Amalga 43-101 Preliminary Economic Assessment for GPTRF due?

The company expects the 43-101 PEA to be completed in February 2026.

What consulting work did Grande Portage (GPTRF) contract for the New Amalga project?

RESPEC Inc. was contracted to perform roadway and traffic studies for Glacier Highway ore haulage and to assist with mining cost estimation.

What is Grande Portage's (GPTRF) planned mining concept for New Amalga?

The company is evaluating a small-footprint underground mine with third-party offsite processing to avoid an onsite mill or tailings facility.

How many stock options did Grande Portage (GPTRF) grant and at what price?

Subject to TSXV approval, 2,200,000 incentive stock options were granted at an exercise price of $0.25 expiring Nov 2, 2030.