Grande Portage Resources Progresses 2026 Drill Program and Field Activities, Confirms 100% Warrant Exercise

August 13, 2026 – 04:00 AM EST

Grande Portage Resources Ltd. (TSXV: GPG) (OTCQX: GPTRF) is making significant strides at its New Amalga Gold Project in southeast Alaska, announcing the successful midpoint of its 2026 drilling campaign. As of August 9, the company has completed 1,605 meters of its planned 3,255-meter drilling program, with 5 out of 12 planned drill holes now finished. This operational update underscores a strategic pivot by Grande Portage, moving beyond pure exploration to meticulously gather crucial hydrogeological and geotechnical data. This data is paramount for informing comprehensive mine development plans and navigating the rigorous environmental review and permitting processes ahead.

“This year’s drill program marks a pivot from pure exploration to a focus on data collection for mine development planning,” stated Ian Klassen, President & CEO of Grande Portage. “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.”

Beyond the drill bit, the company is actively developing critical environmental monitoring infrastructure. Significant progress has been made with the installation of a river-monitoring gauge station on the Herbert River and the completion of foundational concrete work for the first of two planned meteorological towers. The foundation for the second tower is slated for completion in August, with erection scheduled for September. These installations are vital components of the environmental baseline data collection, which also includes extensive wetlands mapping, ongoing wildlife and botanical studies, and geochemical analyses. This multifaceted approach is designed to build a comprehensive understanding of the project’s environmental footprint.

The financial health of Grande Portage has been significantly enhanced by the exercise of all 6,005,431 outstanding common share purchase warrants. These warrants, exercised at $0.25 per share before their August 12, 2026 expiry, have injected approximately $1.50 million into the company’s treasury. These proceeds are strategically allocated to fund the ongoing field programs in Alaska, bolster the technical team, and support general corporate activities, thereby strengthening the company’s capacity to advance its exploration and development initiatives.

“We remain deeply appreciative of our long-standing and supportive shareholders,” Klassen added. “The exercise of these warrants further strengthens Grande Portage’s financial position and enhances our financial flexibility as we continue 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.”

In a move to further incentivize key personnel and strategic partners, Grande Portage has also announced the granting of 275,000 incentive stock options. Subject to TSX Venture Exchange approval, these options are exercisable at $0.35 per share and expire on August 12, 2031. This is standard practice in the junior mining sector to align the interests of advisors and consultants with the long-term success of the company.

Grande Portage Resources Ltd. is strategically focused on the advancement of the New Amalga Mine project, an extension of the Herbert Gold discovery located approximately 25 km north of Juneau, Alaska. The company holds a 100% interest in the property, which is situated within the prolific 160 km Juneau Gold Belt, an area historically responsible for over eight million ounces of gold production. The New Amalga gold system remains open for further exploration in terms of both length and depth, featuring at least six distinct composite vein-fault structures hosting ribbon-style quartz-sulfide veins.

The project’s latest NI 43-101 Mineral Resource Estimate (MRE), effective July 17, 2024, outlines a significant gold and silver potential. It reports an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes), alongside an Inferred Resource of 515,700 ounces of gold at 8.85 g/t Au (1,813,000 tonnes). The MRE also details an Indicated Resource of 891,600 ounces of silver at 5.86 g/t Ag and an Inferred Resource of 390,600 ounces of silver at 7.33 g/t Ag. This resource base, prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. of DRW Geological Consultants Ltd., provides a solid foundation for future economic assessments.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking statements” as defined under applicable Canadian securities legislation. These statements describe the Company’s future plans, objectives, or goals, and may use terms such as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will,” or “plan.” Forward-looking information herein includes, but is not limited to, statements regarding the advancement of the New Amalga Mine project, the proposed path to production timeline, its economics, and the timing of the Environmental Impact Statement. Such statements are inherently subject to risks and uncertainties, including the ability to finalize definitive agreements, obtain necessary approvals, risks associated with exploration and development, commodity price fluctuations, anticipated costs, general economic conditions, and political climate. Actual results may differ materially from those anticipated. The Company disclaims any intention or obligation to update or revise any forward-looking information, except as required by law.

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