Grande Portage Announces Signing of 2017 Drill Contract
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
GRANDE PORTAGE ANNOUNCES SIGNING
OF 2017 DRILL CONTRACT
VANCOUVER, BC, March 6 , 2017 – Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage"
or “the Company”) is pleased to announce that it has signed a contract with a First Nations, Alaskan -based,
diamond drill contractor (the “Contractor”), whereby the Contractor has committed to drill up to 19,000 feet
of diamond drill core on the Company’s Herbert Gold project in S.E. Alaska.
Under the terms of the contract, 50% of t he overall invoiced value will be settled via issuance of common
shares of Grande Portage (the “Shares”) at a deemed value of CDN$0.25 per Share. The total number of such
Shares shall be issued upon completion of the drilling program and will then be deposited and held in escrow
under a Form 5D escrow agreement to be executed by the Contractor and the Company.
The maximum number of Shares issuable thereunder will not exceed 800,000 common shares of Gr ande
Portage. The Form 5D escrow agreement and the issuance of the Shares to the Contractor are subject to the
prior written acceptance for filing by the TSX Venture Exchange on behalf of Grande Portage.
Ian Klassen, Grande Portage’s CEO remarked, “We are delighted to be active again in Alaska. This upcoming
drill program is very exciting as we will be drilling deeper and further to the East than in year’s past in order to
test the known gol d bearing mesothermal veins which collectively make up the Her bert Gold property. We
are looking forward to working with our drilling contractor and we are very pleased that they have shown
confidence in the Herbert Gold project by taki ng 50% of their drilling services in common shares of the
Company.”
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company on the TSX Venture
Exchange, principally focused on the Herbert Gold property discovery situated approximately 25 km north of
Juneau, Alaska. 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 160 km long Juneau Gold Belt, which has historically produced nearly seven million ounces of gold.
Grande Portage conducted an initial drill program on the Herbert Gold property 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 conducted follow up drill programs consisting
of a total of 108 diamond drill holes from ten different platform locations.
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
- 2 -
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 a nd 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 r isks 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, performance, 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