Vancouver, British Columbia--(Newsfile Corp. - October 13, 2026) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQX: GPTRF) (FSE: GPB) ("Grande Portage" or the "Company") is pleased to announce that it has completed the 2026 summer fieldwork and drilling program at the New Amalga Gold Project located in southeast Alaska. The drill rig and drill crews have now been demobilized after a safe and successful season.
Work completed during summer 2026 included:
Completion of twelve drillholes totalling 3,255 metres from five platforms - these holes targeted key areas of the deposit to gather critical resource definition, geotechnical, and hydrogeological data.
Development of five groundwater monitoring wells and installation of one vibrating-wire piezometer (VWP) - enables retrieval of deep groundwater samples to establish baseline water quality and inform design of a future mine water treatment plant, as well as informs hydrogeological model to determine expected groundwater inflows into future underground workings.
Detailed geotechnical logging and testing - including hundreds of point-load test (PLT) samples to refine stoping parameters and crown pillar criteria.
Extensive biological and botanical surveys - covering both the mine site and the Cascade Point ore barge dock area, these studies included wetlands mapping, invasive and sensitive plants surveys, avian surveys, terrestrial wildlife surveys, aquatic biomonitoring, water and soils sampling. This provides criteria for facility design and will inform the upcoming NEPA environmental review process.
Geohazard and floodplain surveys - to identify areas at-risk for landslides, avalanches, and flooding in order to inform design of mine facilities.
Cultural resource surveys - including archeological field investigations of the mine facilities areas, access road alignments, and the Cascade Point ore barge dock site.
Road traffic surveys - to gather data on traffic patterns along the public highway between the mine site and the Cascade Point ore barge dock site.
Construction of meteorological towers and stream gauging infrastructure - to gather data on weather and river conditions. This marks the first long-term infrastructure built for the project, intended to be utilized for the life of the future mining operation. Final sensor calibration is ongoing and the Company intends to provide more information in an upcoming news release.
These items provide key baseline data and engineering criteria which are currently being incorporated into the engineering designs for the project's Plan of Operations, which is scheduled to be submitted to the US Forest Service in March 2027.
Submission of a completed Plan of Operations will initiate the federal NEPA environmental review process. This will be facilitated by the project's status as a FAST-41 Covered Project which provides federal coordination and oversight of the various regulatory agencies involved in the review process.
The company intends to continue supplemental field activities during the autumn months, including fall-season wildlife surveys and additional cultural resources surveys of the project area.
Ian Klassen, the Company's President & CEO, said: "We are very pleased to have completed a safe and highly productive 2026 field season. The extensive geological, geotechnical, hydrogeological, environmental and cultural data collected this summer are all critical inputs to complete our comprehensive Plan of Operations for submission in March 2027. With our baseline studies progressing, our federal permitting schedule established under FAST-41, and a direct-shipping development strategy supported by our definitive ore offtake agreement with Ocean Partners, we are steadily advancing the key technical and regulatory work needed to move this high-grade gold project toward development."
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.
Pictures from 2026 Drill Program and Summer Field Season:
Core Drilling Operations
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_002full.jpg
Drill Pad "D", one of five drilling sites during 2026
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_003full.jpg
Core logging at the drill rig
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_004full.jpg
Helicopter transport of meteorological tower superstructure to project site
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_005full.jpg
Laying out biological survey transect lines at the future barge dock site
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_006full.jpg
Acoustic recording unit, one of many installed in the project area to identify prevalence of relevant bird species
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5464/318646_38f7e60d3428f83c_007full.jpg
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: Ian@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 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". 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 construction 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 climate; 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318646
