Grande Portage Resources Closes Equity Financing
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GRANDE PORTAGE RESOURCES CLOSES EQUITY FINANCING
VANCOUVER, BC, April 30, 2021 – Grande Portage Resources Ltd. (TSX-V GPG) (" Grande
Portage" or "the Company") is pleased to announce that its non-brokered private placement, announced on
April 21st, 2021, has closed with the issuance of 1,106,715 units at a price of $0.28 per unit for gross proceeds
of $309,880, with all securities issued having a four-month hold period which expires on September 1, 2021.
As previously announced, each unit in this offer ing consists of one common share in the capital of the
company and one-half of a share purchase warrant. Each whole warrant entitles the unit holder to purchase
one additional GPG common share at a price of $0.45 per share at any time within 24 months of the closing.
The Company paid no finder's fees in conjunction with this non-brokered placement.
The net proceeds of the offering will be used to advance exploration activities at the Company's Herbert
Gold project and for general working capital.
In addition, the Company announces that, subject to TSX Venture Exchange approval, it has granted
incentive stock options to various directors, employees, advisors and consultants to purchase up to 975,000
common shares exercisable on or before May 3, 2026 at a price of $0.38 per share.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded miner al 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 nearly seven million ounces of
gold. The Company's recent Mineral Resource estimate (Webb, 2019, available on the Company’s website or
on SEDAR.COM ) is reported at a base case mineral resources cut -off grade of 2.50 grams per tonne gold
(g/t Au) and consists of: An indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au
(1,880,500 tonnes); and an inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au
(553,429 tonnes).
ON BEHALF OF THE BOARD
“Ian Klassen”
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: [email protected]
www.grandeportage.com
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
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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”, “coul d”, “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 secur ities
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 forwa rd-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