Grande Portage Resources Announces Exercise of Warrants BY Eric Sprott
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GRANDE PORTAGE RESOURCES ANNOUNCES EXERCISE
OF WARRANTS BY ERIC SPROTT
VANCOUVER, BC, January 5, 2022 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB:
“GPTRF”); (Frankfurt: “GPB”); (" Grande Portage " or " the Company ") announced today that Mr. Eric
Sprott has exercised all of his outstanding Grande Portage common share purchase warrants (“Warrants”) for
total proceeds to the Company of $2,250,000.
Ian Klassen, Grande Portage’s CEO, commented: “We are delighted that Mr. Sprott has fully exercised his
warrant allocation in Grande Portage. He was , and remains, the Company’s largest individual shareholder
and we are very proud to have the benefit of his ongoing support.”
Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, exercised a
total of 5,000,000 Warrants at an exercise price of $0.45 per common share (“Share”). Following the
completion of the exercise of his Warrants, Mr. Sprott beneficially owns and controls 15,000,000 Shares,
representing approximately 14% of the issued and outstanding Shares on a non -diluted basis. Prior to the
Warrants exercise, Mr. Sprott beneficially owne d and controlled 10,000,000 Shares and 5,000,000 Warrants,
representing approximately 9.8% of the issued and outstanding Shares of the Company on a non-diluted basis
and approximately 14.0% on a partially diluted basis assuming the exercise of all such warrants . The Shares
were acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long -term view of the investment and
may acquire additional securities of the Company including on the open market or through private
acquisitions or sell securities of the Company including on the open market or through private dispositions in
the future depending on market conditions, reformulation of plans and/or other factors t hat Mr. Sprott
considers relevant from time to time.
A copy of the early warning report with respect to the foregoing will appear on the Company’s profile on the
System for Electronic Document Analysis and Retrieval at www.sedar.com and may also be obtained by
calling Mr. Sprott’s office at (416) 945 -3294 (2176423 Ontario Ltd., 20 0 Bay Street, Suite 2600, Royal Bank
Plaza, South Tower, Toronto, Ontario M5J 2J1).
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company 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 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 seven mill ion ounces of
gold. The Company’s updated NI#43 -101 Mineral Resource estimate reported at a base case mineral
resources cut -off grade of 3.0 grams per tonne gold (g/t Au) and consists of: an indicated resource of
1,196,800 ounces of gold at an average gra de of 10.23 g/t Au (3,637,000 tonnes); and an inferred resource of
325,900 ounces of gold at an average grade of 8.91 g/t Au (1,138,000 tonnes), as well as an Indicated resource
of 686,700 ounces of silver at an average grade of 5.87 g/t Ag (3,637,000 tonn es); and an inferred resource of
169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
- 2 -
ON BEHALF OF THE BOARD
“Ian Klassen”
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: [email protected]
www.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 mana gement 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 t o 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