Mr. Ian Klassen reports

GRANDE PORTAGE CLOSES C$5MILLION EQUITY RAISE

Grande Portage Resources Ltd. has closed its previously announced non-brokered private placement offering of 20 million units of the company at a price of 25 cents per unit for aggregate gross proceeds of $5-million with Eric Sprott, through 2176423 Ontario Ltd., as the sole subscriber. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant being exercisable to purchase one common share at a price of 35 cents per common share for a period of two years from the date of grant.

The company intends to use the net proceeds raised from the offering for exploration and development of the New Amalga gold deposit, as well as general working capital. The securities issued under the offering will be subject to a four-month hold period that expires on April 10, 2026. Closing of the offering is subject to customary closing conditions, including final approval of the TSX Venture Exchange. In addition, Mr. Sprott will covenant not to exercise any of the warrants if such exercise will result in him holding in excess of 19.99 per cent of the outstanding common shares of the company, until the company has obtained the shareholder approval for him to become a new control person (as such term is defined in the policies of the TSX-V).

Mr. Sprott, through 2176423 Ontario Ltd., a corporation beneficially owned by him, acquired 20 million units pursuant to the offering for total consideration of $5-million. Prior to the Offering, Mr. Sprott beneficially owned or controlled 15 million common shares, representing approximately 9.5 per cent of the outstanding common shares of the company. Following closing of the offering, Mr. Sprott beneficially owns or controls 35 million common shares and 10 million warrants, representing approximately 19.7 per cent of the outstanding common shares on a non-diluted basis and 24 per cent of the outstanding common shares on a partially diluted basis assuming the exercise of all such warrants.

The units will be acquired by Mr. Sprott for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire or sell additional securities of the company, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

A copy of Mr. Sprott's early warning report will appear under Grande Portage's SEDAR+ profile and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (1106 7 King St. E, Toronto, Ont., M5C 3C5).

About Grande Portage Resources Ltd.

Grande Portage Resources 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 kilometres north of Juneau, Alaska. The company holds a 100-per-cent interest in the New Amalga property. The New Amalga 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-kilometre-long Juneau gold belt, which has produced over eight 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 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 mineral resource estimate was prepared by Dr. David R. Webb, PhD, PGeol, PEng (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 "Technical Report of the Herbert Gold Property, Juneau District, Southeast Alaska," dated July 17, 2024, which is available under Grande Portage's SEDAR+ profile.

We seek Safe Harbor.