Mr. Ian Klassen reports

GRANDE PORTAGE INITIATES PRELIMINARY ECONOMIC ASSESSMENT AND RECEIVES GOLD PAYABILITY TERMS OF UP TO 87 PER CENT

Grande Portage Resources Ltd. has achieved two major advancements at its New Amalga gold project in southeast Alaska.

The project hosts a high-grade mineral resource of 1.4 million ounces of gold (indicated) and 500,000 ounces (inferred) and remains open to expansion in multiple directions. The current development concept envisions a small-footprint underground mining operation with third party offsite processing, eliminating the need for an on-site mill or tailings storage facility.

Strong indicative offtake terms confirm marketability

Grande Portage has received indicative ore offtake terms from a leading global concentrate trading firm, showing gold payability of 72 per cent to 87 per cent, depending on the grade of the shipment. Based on the company's conceptual production plan incorporating sensor-based ore sorting, typical payabilities are expected to range from 80 per cent to 85 per cent.

The offtake study confirms that New Amalga ore is readily marketable to Asian base metal smelters, custom concentrates facilities, roasting operations and leach plants. Applicable treatment and refining charges (TC/RCs) are quoted at the copper benchmark treatment charge plus $95 per tonne and a $10 per contained gold ounce refining charge.

Preliminary economic assessment initiated

Following this positive market feedback, Grande Portage has initiated an NI 43-101 preliminary economic assessment (PEA). The company has contracted all required qualified persons (QPs) and technical specialists, many of whom have direct project experience in Alaska, including at Pogo, Kensington and Greens Creek, as well as within the Alaska DNR Office of Project Management and Permitting.

An initial draft PEA is anticipated in early to mid-January, with final completion targeted for mid- to late-February, 2026.

PEA consultant team

• Core Geoscience LLC -- environmental, permitting, social and community impacts;

• DRW Geological Consultants Ltd. -- geological setting and mineralization, resource estimates;

• Mine Development Associates (Respec Inc.) -- capital and operating costs;

• OreLogic LLC -- mining methods, recovery, infrastructure, market studies, economic analysis;

• SRK Consulting Inc. -- geotechnical and hydrogeological studies.

Ian Klassen, Grande Portage president and chief executive officer, comments: "The excellent gold payabilities in this indicative term sheet attest to the marketability of the New Amalga ore as a highly desirable feedstock for third party processing facilities. This validates our strategy for developing the deposit as a DSO direct-ship operation, which will greatly reduce capital costs by avoiding the need to construct a processing plant at the site, while de-risking the regulatory approval process by eliminating the requirement for a tailings storage facility. We look forward to defining further technical and economic details as part of our upcoming PEA."

Kyle Mehalek, PEng, is the qualified person 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.

About Grande Portage Resources Ltd.

Grande Portage Resources is focused on advancing the New Amalga mine project, the outgrowth of the Herbert gold discovery situated approximately 25 kilometres north of Juneau, Alaska. The company holds a 100-per-cent 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-sulphide veins. The project lies prominently within the 160 km long Juneau gold belt, which has produced over eight million ounces of gold.

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