Mr. Ian Klassen reports

GRANDE PORTAGE RESOURCES CLOSES $1.12M EQUITY FINANCING

Grande Portage Resources Ltd. has closed a non-brokered private placement with the issuance of 5.6 million units at a price of 20 cents per unit for gross proceeds of $1.12-million, with all securities issued having a four-month hold period which expires on April 9, 2024.

Each unit in this offering 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 Grande Portage common share at a price of 24 cents per share at any time within 24 months of the closing.

The company paid $34,680 in cash and issued 167,470 warrants for finder's fees in conjunction with this non-brokered placement. The broker warrants have the same terms as the subscriber warrants.

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.

About Grande Portage Resources Ltd.

Grande Portage Resources is a publicly traded mineral exploration company focused on the Herbert gold discovery situated approximately 25 kilometres north of Juneau, Alaska. The company holds a 100-per-cent 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-sulphide veins. The project lies prominently within the 160 km long Juneau gold belt, which has produced over seven million ounces of gold. The company's updated National Instrument 43-101 mineral resource estimate reported at a base case mineral resources cut-off grade of three grams per tonne gold (g/t Au) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade 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).

We seek Safe Harbor.