Grande Portage Resources Advances 2026 Drill Program and Field Activities, Confirms 100% Warrant Exercise
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Grande Portage Resources Advances 2026 Drill Program and Field Activities,
Confirms 100% Warrant Exercise
Vancouver, British Columbia — August 13, 2026 – Grande Portage Resources Ltd. (TSXV: GPG) (OTCQX: GPTRF)
(FSE: GPB) (“Grande Portage” or the “Company”) is pleased to announce that it has reached the midpoint of the 2026 drilling
program at the New Amalga Gold Project located in southeast Alaska.
As of August 9, crews have drilled 1,605 metres out of 3,255 planned metres (49%) and completed 5 out of 12 planned drillholes.
Meanwhile large amounts of critical data have been collected on hydrogeological and geotechnical conditions in key areas of the
deposit along with additional resource definition. This rock mass data is of great importance for the upcoming environmental
review and permitting process as well as to inform mine development plans.
Ian Klassen, the Company’s President & CEO said “This year’s drill program marks a pivot from pure exploration to a focus
on data collection for mine development planning . This adds complexity including a larger amount of personnel, equipment,
and helicopter logistics. Grande Portage would like to thank all of our contractors and personnel for their effective coordination
and successful efforts in reaching the midpoint of the 2026 drilling program.”
In addition to drilling, construction activities have advanced for the development of environmental monitoring infrastructure at
the site, including the installation of a river-monitoring gauge station (Fig. G) as well as completion of concrete works for the
foundation of the first of two planned meteorological towers (Fig. H & Fig. I). Completion of the second tower’s foundation
is scheduled for August with tower erection planned in September.
Environmental baseline data collection has also made excellent progress with the completion of wetlands mapping for the project
area as well as ongoing wildlife, botanical and geochemical studies.
Photos from 2026 field program:
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Fig. A: Drill pad construction
Fig. B: Drilling operations
Fig. C: Core logging tent at the drill rig
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Fig. D: Logging core while still in the split-tube core barrel to preserve maximum geotechnical information
Fig. E: First core of 2026
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Fig. F: Ongoing drilling in all weather conditions
Fig. G: New river monitoring gauge installed in Herbert River at project site
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Fig. H: Aerial view of construction work at meteorological tower site
Fig. I: Construction equipment transported by helicopter to meteorological tower site
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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.
Full Share Purchase Warrant Exercise
The Company is pleased to announce that shareholders have exercised 100% of the 6,005,431 outstanding common share
purchase warrants at an exercise price of $0.25 per warrant, ahead of their August 12, 2026 expiry date. The warrant exercise s
have generated $1.50 million in additional proceeds, further strengthening the Company’s treasury and financial position.
The proceeds will be used to advance the Company’s ongoing fi eld programs in S.E Alaska, expand its technical team, and
support general corporate activities as Grande Portage continues to advance its exploration and development initiatives.
Ian Klassen further commented, “We remain deeply appreciative of our long-standing and supportive shareholders. The exercise
of these warrants further strengthens Grande Portage’s financial position and enhances our financial flexibility as we contin ue
to advance exploration and field activities at the New Amalga Gold Project. This continued shareholder support provides a
strong foundation as we build momentum toward the next stage of the project’s development.”
Incentive Stock Options
The Company wishes to announce that, subject to TSX Venture Exchange approval, it has granted incentive stock options to
various advisors & consultants to purchase up to 275,000 common shares exercisable on or before August 12, 2031 at a price
of $0.35 per share.
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. Additional information on the New Amalga Mine project is available in the technical report titled “Preliminary Economic
Assessment for the New Amalga Gold Project Juneau District, Southeast Alaska” dated February 11, 2026, which is available
under Grande Portage’s SEDAR+ profile at www.sedarplus.ca.
ON BEHALF OF THE BOARD
"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: [email protected]
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 "pl an".
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Forward-looking statements or information contained in this release include, but are not limited to, statements or information
with respect to: the commercial offtake, equity investment and construction loan and overrun facility from Ocean Partners,
including terms, timing, benefits and synergies and use of proceeds thereof ; Ocean Partners’ future share holdings ; and
advancement of the Project, including the proposed path to production timeline, economics and timing of the Environmental
Impact Statement. Since forward-looking statements are based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties, These assumptions, risks, uncertainties and other factors include,
among others: ability to finalize definitive agreements relating to the commercial offtake, equity investment and constructio n
loan and overrun facility, complete the transactions contemplated herein, and to obtain all necessary approvals; risks associated
with the exploration and development of the New Amalga Mine and our mineral resources ; including obtaining all necessary
approvals and the timing thereof; the current or future price of gold, silver and other commodities; anticipated costs, expenses
and working capital requirements; ability to meet the proposed production timeline for the Project; general business and
economic conditions and political climat e; and other assumptions, risks, uncertainties and other factors 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.
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