Grande Portage Resources Files 2025 Plan of Operation/Drill Permit for the New Amalga Gold Property in S.E. Alaska
1050 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
Grande Portage Resources Files 2025 Plan of Operation/Drill Permit for
the New Amalga Gold Property in S.E. Alaska
Vancouver, British Columbia—November 25, 2024 – Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB:
GPTRF) (FSE: GPB) ("Grande Portage" or the "Company") is pleased to announce that it has filed its 2025 Plan of
Operation for continued mineral exploration at its New Amalga Mine Gold project (formerly the Herbert Gold
project) located north near Juneau, Alaska.
Subject to regulatory approval, the proposed work schedule for 2025 consists of up to 10,000 meters diamond drilling
with additional detailed mapping and trench sampling to expand previous exploration. The program will consist of
diamond drilling utilizing up to eight pads to drill approximately 15 holes. These holes are planned to test the main
mineralized structures of the Goat, Main, Sleeping Giant and Deep Trench veins. The New Amalga 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 millions of ounces of gold through a total depth range
of thousands of feet. Individual veins and vein systems can be traced for over 500 m on average along strike and from
surface (130 m above mean sea level) to depths of 350 m below sea level.
The New Amalga’s major veins remain open for expansion and strongly mineralized gold -bearing structures extend
into untested ground, especially to the east and at depth. Several other veins and structures have been discovered on
the property which have good potential for economic gold deposition but to date have only received minimal
exploration.
The Company also announces that, subject to TSX Venture Exchange approval, it has granted incentive stock options
to two consultants to purchase up to 250,000 common shares exercisable at a price of $0.30 (CAD) per share for a
period of five years.
This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of
experience and a Qualified Person as defined under NI #43-101.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the New Amalga Gold
Mine Project (formerly the Herbert Gold project) situated approximately 25 km north of Juneau, Alaska. The
Company holds a 100% interest in the New Amalga property. The New Amalga 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
million ounces of gold.
The Company's updated NI#43 -101 Mineral Resource estimate (filed in June 2024) 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
1050 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
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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 5.8 6 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).
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 "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 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.
Please note that under National Instrument 43-101, the Company is required to disclose that it has not based any production
decision on NI 43-101-compliant reserve estimates, preliminary economic assessments, or feasibility studies, and historically
production decisions made without such reports have increased uncertainty and higher technical and economic risks of failure.
These risks include, among others, areas that are analyzed in more detail in a feasibility study or preliminary economic assessment,
such as the application of economic analysis to mineral resources, more detailed metallurgical and other specialized studies in
areas such as mining and recovery methods, market analysis, and environmental, social, and community impacts. Any decision to
place the New Amalga Mine into operation at levels intended by management, expand a mine, make other production-related
decisions, or otherwise carry out mining and processing operations would be largely based on internal non-public Company data,
and on reports based on exploration and mining work by the Company and by geologists and engineers engaged by the Company.
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