Mr. Ian Klassen reports

GRANDE PORTAGE COMPLETES NON-BROKERED PRIVATE PLACEMENT

After consultation with its registered finders, Grande Portage Resources Ltd. has concluded its non-brokered private placement under Part 5A of National Instrument 45-106 (Prospectus Exemptions -- Listed Issuer Financing Exemption). As previously announced on Nov. 13, 2024, the company sold 3.47 million units at a price of 30 cents per unit for aggregate gross proceeds of $1,041,000. The company had filed an offering document related to the offering that can be viewed under Grande Portage's profile at SEDAR+ and on the company's website.

Each unit consisted of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one additional common share at an exercise price of 45 cents per common share until Nov. 13, 2026.

Grande Portage intends to use the net proceeds of the offering for furthering the exploration and development of its New Amalga gold project in Alaska, as well as general working capital purposes.

About Grande Portage Resources Ltd.

Grande Portage is a publicly traded mineral exploration company focused on the New Amalga gold project (formerly, named the Herbert gold project) situated approximately 25 kilometres north of Juneau, Alaska. The company holds a 100-per-cent interest in the New Amalga gold project. The New Amalga gold project 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-kilometre-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 cut-off grade of 2.5 grams per tonne gold, 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).

We seek Safe Harbor.