Mr. Ian Klassen reports

GRANDE PORTAGE RESOURCES LAUNCHES BUSY SUMMER SEASON WITH 2026 DRILL PROGRAM AT THE NEW AMALGA GOLD PROJECT

Grande Portage Resources Ltd. has commenced the company's 2026 drilling program at the New Amalga gold property near Juneau, Alaska.

The program planned for 2026 includes up to 4,300 metres of diamond drilling from up to 14 drill holes as well as installation of downhole instrumentation. The drill holes will provide additional definition to upgrade resource classification in key areas of the deposit and will characterize the geotechnical and hydrogeological aspects of the rock mass to gather data necessary for the environmental review and permitting process as well as to inform mine development plans.

The geotechnical and hydrogeological characterization work will include:

• Detailed geotechnical logging to define the rock conditions in areas of key underground infrastructure;
• Installation of piezometers in select drill holes to measure groundwater levels and pressures;
• Packer testing, which involves pumping pressurized water into a drill hole to determine the hydraulic conductivity or permeability of the rock structures intersected by the hole;
• Groundwater sampling and chemical analysis to assess baseline groundwater quality.

The 2026 program is being conducted under a plan of operations approved by the United States Forest Service on Jan. 16, 2026, and utilizes several industry-leading contractors including:

• SRK Consulting Inc., overseeing the hydrogeological testwork and geotechnical assessments, plus subsequent development of a hydrogeological model to determine the expected level of groundwater inflows into the mine workings.
• Timberline Drilling Inc., providing core drilling services with extensive experience in southeast Alaska including at other Juneau area mining operations.
• Piton Exploration LLC, based in Palmer, Alaska, providing exploration support services including drill pad construction and core logging.
• Coastal Helicopters Inc., based in Juneau, Alaska, providing helicopter transportation and logistics services.

Ian Klassen, president and chief executive officer, comments: "We are pleased to announce the mobilization of a premier team of contracting partners the 2026 drilling campaign, including prominent Alaska-based firms. The launch of this year's program marks a key milestone for the New Amalga project, signaling the drilling program's transition from pure exploration into strategic development planning.

"This year's program is strategically engineered to secure critical geotechnical and hydrogeological data sets in addition to expanding resource definition data for the high-grade New Amalga deposit. This information will be essential for advancing the mine facilities design as well as to inform the environmental review and permitting process, enabling the project to progress through the regulatory milestones required before development."

Project summary

The New Amalga gold project is located only 25 kilometres from Alaska's capital city of Juneau and six km 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 Au (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, as described in the preliminary economic assessment (PEA) study with an effective date of Feb. 11, 2026, envisions a small-footprint underground mining operation which would transport material offsite for processing by a third party, eliminating the need for an onsite gold recovery plant or tailings storage facility.

This setup 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 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 km north of Juneau, Alaska, and six km from paved all-season highway;
• Excellent economics demonstrated by National Instrument 43-101 preliminary economic assessment (with an effective date of Feb. 11, 2026):
  • At base case of $3,200 (U.S.)/ounce gold price: after-tax NPV (net present value) 5 per cent of $721-million (U.S.), after-tax IRR (internal rate of return) of 56 per cent;
  • At upside case of $5,000 (U.S.)/oz gold price: after-tax NPV 5 per cent of $1,557-million (U.S.), after-tax IRR of 91 per cent.
• 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, 11.6 m grading 28.3 g/t Au;
  • Goat vein: 2.1 m grading 74.2 g/t Au, 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, 3.1 m grading 13.9 g/t Au;
  • Ridge vein: 1.5 m grading 43.0 g/t Au, 1.5 m grading 29.2 g/t Au;
  • Sleeping Giant vein: 2.1 m grading 15.4 g/t Au, 3.2 m grading 20.7 g/t Au.

• The company's updated NI 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 tonne) and 290 g/t gold (8.46 opt) with 224 g/t silver (6.53 opt).
• Lidar (light detection and ranging) 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 six-plus years of environmental baseline water sampling.
• Current development strategy envisions a small-footprint underground mining operation with third party offsite 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 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 km 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 km 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.

The company's updated NI 43-101 mineral resource estimate (MRE) 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 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.