Mr. Ian Klassen reports

GRANDE PORTAGE REPORTS ADVANCEMENTS OF TRANSPORTATION INFRASTRUCTURE AT THE NEW AMALGA GOLD PROJECT

Grande Portage Resources Ltd. has provided an update regarding transportation infrastructure for its New Amalga gold property in southeastern Alaska. The current development concept for the project envisions a small-footprint underground mining operation with third party off-site processing, eliminating the need for an on-site mill or tailings storage facility.

Update on project access road

In August, 2025, the company announced its application for a State of Alaska road easement, which would encompass approximately the initial one-third of the total road development required to establish access to the project site. The remaining two-thirds of the route are located on federal land, requiring a separate regulatory process.

The state easement application has now progressed to the adjudication stage at the Department of Natural Resources, a significant milestone that will, in due course, lead to a public notice period. The company has also signed a contract for an archeological and cultural resources survey to take place in early spring -- the primary baseline study which will be required before road construction can begin.

The easement for this initial road segment will enable the start of mine access road construction on state land while advancing the federal regulatory process for the portions of the project under federal land tenure. Importantly, it will also provide the near-term benefit of establishing a helicopter staging area much closer to the project site compared with the staging area used in previous field seasons, which was located at the Juneau International Airport. This will greatly reduce the helicopter cycle distance for shuttling drilling equipment and supplies, improving efficiency and also reducing noise impacts to residential areas of Juneau.

Update on ore barge dock at Cascade Point

The company is also pleased to provide an update on developments related to the proposed ore barge dock at Cascade Point, following the company's June, 2024, announcement of a letter of intent (LOI) with Goldbelt Inc., Juneau's Alaska native corporation.

Cascade Point is located approximately 15 miles (24 kilometres) from the New Amalga mine project and is accessible by Glacier Highway, an existing state-maintained roadway. The design for the ore dock will be integrated with Goldbelt's planning for a future Alaska Marine Highway System ferry terminal at the site, intended to improve marine access and transportation infrastructure in the Juneau area. The location can accommodate both functions in separate areas, with flexibility for the two projects to be built either concurrently or sequentially.

Since the execution of the LOI, significant progress has been made on the broader Cascade Point ferry terminal project, which is being advanced by the Alaska Department of Transportation & Public Facilities (ADOT&PF) in co-ordination with Goldbelt. In July, 2025, ADOT&PF awarded a $28.5-million (U.S.) contract for phase 1 work at Cascade Point, covering uplands development, site preparation, and engineering and environmental studies. This work represents a key step toward preparing the site for construction of marine infrastructure.

Subsequently, in December, 2025, the State of Alaska signed a $1.3-million (U.S.) contract with Juneau Hydro to extend hydro power infrastructure to Cascade Point. The planned electrification will provide grid-based renewable power to the site, supporting lower operating costs and reduced emissions relative to diesel-based alternatives.

Grande Portage further reports that Goldbelt has provided the company with the next phase of engineering drawings for the proposed ore barge dock to be co-located at Cascade Point. The dock concept is intended to utilize available space at Cascade Point to operate alongside the passenger ferry terminal in a separate area of the site, subject to permitting, engineering refinement and final agreements.

The dock is designed for barge loading of containerized ore using forklifts, rather than bulk (loose) ore by conveyor belt. This minimizes the construction of large infrastructure at the site while reducing any risk of spillage or dust generation, drawing on lessons learned from other regional ore terminals, including the requirements adopted by the City of Skagway requiring that future ore shipments through the port of Skagway be containerized rather than handled in bulk.

"The advancement of the Cascade Point ferry terminal, combined with planned hydro power access and receipt of preliminary dock facility designs, represents significant progress since our initial announcement with Goldbelt," said Ian Klassen, president and chief executive officer of Grande Portage Resources. "These developments support our long-held objectives of establishing a practical, efficient and environmentally responsible marine logistics solution for the New Amalga project."

Project summary

The New Amalga gold project remains open to expansion in multiple directions and hosts an indicated resource of 1,438,500 ounces of gold at an average grade of 9.47 grams per tonne gold (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). The current development concept envisions a small-footprint underground mining operation that would transport material off site for processing by a third party, eliminating the need for an on-site gold recovery plant or tailings storage facility.

This set-up is designed to provide several benefits:

• Eliminates the need to build a gold recovery plant, minimizing mine footprint and power requirements and reducing project construction capex (capital expenditure);
• Eliminates the need to develop a tailings disposal facility at the site as no tailings would be generated;
• Removes the need for permanent waste rock storage facilities; waste rock generated from mine development would be returned to the underground workings as stope backfill;
• No use of chemical reagents for gold processing at the site;
• Dramatically reduces land usage and overall environmental footprint;
• Greatly facilitates postmining closure and reclamation;
• Simplifies the environmental review and permitting process.

Project highlights:

• A 100-per-cent interest in the New Amalga gold project, located near infrastructure only 25 kilometres north of Juneau, Alaska, and six kilometres from paved all-season highway;
• The property is host to at least eight large, long, gold-bearing mesothermal veins;
• 240 drill holes from 55 platforms totalling approximately 65,000 metres confirm a large gold-quartz system;
• Past drilling produced multiounce assays on several veins; select samples include:
  • Deep Trench vein: 15.3 m grading 37.1 g/t Au, 8.3 m grading 58.6 g/t Au and 11.6 m grading 28.3 g/t Au;
  • Goat vein: 2.1 m grading 74.2 g/t Au and 6.3 m grading 15.7 g/t Au;
  • Main vein: 3.1 m grading 79.2 g/t Au, 2.1 m grading 37.2 g/t Au and 3.1 m grading 13.9 g/t Au;
  • Ridge vein: 1.5 m grading 43.0 g/t Au and 1.5 m grading 29.2 g/t Au;
  • Sleeping Giant vein: 2.1 m grading 15.4 g/t Au and 3.2 m grading 20.7 g/t Au;
• The company's updated National Instrument 43-101 mineral resource estimate (MRE) with an effective date of July 17, 2024, reported 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 deposit is open to the north, south and at depth;
• Goat vein surface outcrop channel samples assayed 129.02 g/t gold (3.76 ounces per ton) and 290 g/t gold (8.46 ounces per ton) with 224 g/t silver (6.53 ounces per ton);
• Lidar survey of property discovered numerous targets -- the first of these tested confirmed gold discovery;
• Received excellent metallurgical recoveries up to 98.2 per cent;
• Completed more than six years of environmental baseline water sampling;
• Current development strategy envisions a small-footprint underground mining operation with third party off-site processing, eliminating the need for an on-site mill or tailings storage facility; this configuration reduces capital costs, greatly minimizes the project's environmental footprint, and facilitates permitting;
• Letter of intent signed with Goldbelt Inc. (an Alaska native corporation organized under the Alaska Native Claims Settlement Act) for development of an ore export terminal at Cascade Point, Goldbelt's privately held parcel located only 22 kilometres from the project site;
• NI 43-101 preliminary economic assessment in progress, expected completion Q1 2026.

Kyle Mehalek, PE, 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 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 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 NI 43-101 mineral resource estimate (MRE) reported at a base-case mineral resources cut-off grade of 2.5 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 Ag (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, PhD, PGeol, PEng (DRW Geological Consultants Ltd.), with an effective date of July 17, 2024.

We seek Safe Harbor.