Mr. Ian Klassen reports

GRANDE PORTAGE RESOURCES PUBLISHES MCKINLEY RESEARCH GROUP'S SOCIOECONOMIC IMPACT STUDY FOR THE NEW AMALGA GOLD PROJECT

Grande Portage Resources Ltd. has published a socio-economic impact study conducted by McKinley Research Group LLC, a premier Alaska-based research and consulting firm with over 50 years of experience providing objective, data-driven analysis in economic, social and community development fields for public and private-sector clients in Alaska and the Pacific Northwest. The firm has conducted similar analyses for numerous other mines and mining projects throughout the state.

The socio-economic impact study was based on the company's recent preliminary economic assessment for the project, which has an effective date of Feb. 11, 2026. Key findings include the following estimates.

Operational phase:

• Direct employment of 277 positions, of which an estimated 195 positions would be filled by Alaska residents, including 110 by Juneau residents;
• Total employment created (including indirect and induced) of 565 positions in Alaska including 475 in the Juneau area; this includes employment created with vendors, suppliers and subcontractors, as well as jobs created as a result of spending of employee earnings;
• Direct labour income estimated at $48.8-million (U.S.) annually, of which $34.1-million (U.S.) would go to Alaska residents, including $19.5-million (U.S.) to Juneau residents;
• Total labour income of $77.1-million annually within the State of Alaska, including indirect and induced labour income.

Construction phase:

• Direct employment averaging 220 positions;
• Direct labour income of $66.3-million (U.S.) estimated over the 2.5-year construction period;
• Total employment created (including indirect and induced) of 370 positions;
• Total labour income (including indirect and induced) estimated at $93.1-million (U.S.) over the construction period.

Potential socio-economic impacts:

• Approximately $129-million paid in state and local taxes during the mine life (at the base-case $3,200-per-ounce gold price);
• Resident population of 450 individuals supported in Alaska (including 250 in the Juneau area);
• School enrollment of 110 children in Alaska (including 50 in the Juneau area);
• The study report will be available on the company's website.

Ian Klassen, president and chief executive officer, commented: "This initial socio-economic impacts study is the first time that the potential economic benefits of the New Amalga gold project have been evaluated. The study shows that the project presents a tremendous opportunity for the Juneau area as well as the entire state of Alaska in terms of employment, tax revenue and economic activity. We look forward to continuing this discussion with local residents and elected officials as the project moves forward."

Project summary

The New Amalga gold project is located only 25 kilometres from Alaska's capital city of Juneau and six kilometres from paved highway. The resource 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 grams per tonne gold (1,813,000 tonnes).

The current development concept, as described in the preliminary economic assessment (PEA) study with an effective date of Feb. 11, 2026, 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 summary

The New Amalga gold project is located only 25 kilometres from Alaska's capital city of Juneau and six kilometres from paved highway. The resource 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) (with an effective date of July 17, 2024).

The current development concept envisions a small-footprint underground mining operation which 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, power requirements and reducing project construction capex (capital expenditures);
• 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 Ag (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 Au (3.76 ounces per ton) and 290 g/t Au (8.46 ounces per ton) with 224 g/t Ag (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;
• LOI (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.

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 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 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. 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.