Grande Portage Announces Non Brokered Financing FOR $250,000
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
GRANDE PORTAGE ANNOUNCES NON BROKERED
FINANCING FOR $250,000
VANCOUVER, BC, January 30, 2017 – Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage"
or “the Company”) is pleased to announce a non-brokered private placement of up to 3,333,333 Units (the
"Units") for gross proceeds of up to $250,000. The private placement offering (the "Offering") will be at $0.15
(CAD) per Unit, and will consist of one common share in the capital of the Company (each a "Common
Share") and one half share purchase warrant (a "Warrant").
Each whole Warrant will be exercisable at $0.25 (CAD) to purchase an additional common share (each a
Warrant Share) for a period of 18 months following the Closing Date. All subscriptions for Units are anticipated
to be completed and accepted by the Company on or before February 28, 2017.
The Warrant will also include an acceleration clause whereby if the trading price of the Issuer's shares on the
TSX Venture Exchange for 10 consecutive trading days (the "Premium Trading Days") exceeds $0.50 per share
during the exercise period the expiry time of the warrants shall be accelerated such that the expiry time will be
30 calendar days. This 30-day period will commence seven (7) calendar days after the tenth Premium Trading
Day.
The net proceeds of the Offering will be used to advance exploration activities at the Company's Herbert Gold
property located in S.E. Alaska as well as for general working capital. Finder's fees may be paid on the Offering
pursuant to the policies of the TSX Venture Exchange.
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally focused on
the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a
100% interest in the Herbert property. The Herbert Gold property has a NI 43-101 technical report completed
with indicated resources of 821,100 tonnes containing 182,400 oz of gold at 6.91 g/t. Inferred resources of
51,600 tonnes containing 12,800 oz of gold at 7.73 g/t. The 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 nearly seven million ounces of
gold. Grande Portage conducted an initial drill program in the fall of 2010. The results from the drilling
program confirm the identification of major elements of a complex mesothermal gold -quartz system with
numerous targets. Subsequently, the Company has cond ucted follow up drill programs of with a total of 108
diamond drill holes from ten different platform locations.
The Herbert Gold Property is host to abundant composite vein -fault structures containing ribbon structure
quartz-sulfide veins and lies prominently within the 100 mile long Juneau gold belt, which has produced nearly
seven million ounces of gold through a total depth range of thousands of feet.
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
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ON BEHALF OF THE BOARD OF DIRECTORS
“Ian Klassen”
________________________________________
Ian Klassen, President
For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106
Email: [email protected]
Website: www.grandeportage.com
Statements about the Company’s future expectations and all other statements in this press release other than
historical facts are “forward looking statements”. Such forward-looking statements are based on numerous
assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual results, performance, or achievements of
the Company to be materially different from any projected future results, performa nce, or achievements
expressed or implied by such forward-looking statements.
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