Mr. Ian Klassen reports

GRANDE PORTAGE RESOURCES ADVANCES 2026 DRILL PROGRAM AND FIELD ACTIVITIES, CONFIRMS 100% WARRANT EXERCISE

Grande Portage Resources Ltd. has reached the midpoint of the 2026 drilling program at the New Amalga gold project located in southeastern Alaska.

As of Aug. 9, crews have drilled 1,605 metres out of 3,255 planned metres (49 per cent) and completed five out of 12 planned drill holes. Meanwhile large amounts of critical data have been collected on hydrogeological and geotechnical conditions in key areas of the deposit, along with additional resource definition. These rock mass data are of great importance for the coming environmental review and permitting process as well as to inform mine development plans.

Ian Klassen, the company's president and chief executive officer, said: "This year's drill program marks a pivot from pure exploration to a focus on data collection for mine development planning. This adds complexity, including a larger amount of personnel, equipment and helicopter logistics. Grande Portage would like to thank all of our contractors and personnel for their effective co-ordination and successful efforts in reaching the midpoint of the 2026 drilling program."

In addition to drilling, construction activities have advanced for the development of environmental monitoring infrastructure at the site, including the installation of a river-monitoring gauge station as well as completion of concrete works for the foundation of the first of two planned meteorological towers. Completion of the second tower's foundation is scheduled for August, with tower erection planned in September.

Environmental baseline data collection has also made excellent progress with the completion of wetlands mapping for the project area as well as continuing wildlife, botanical and geochemical studies.

Kyle Mehalek, PE, is the qualified person within the meaning of National Instrument 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.

Full share purchase warrant exercise

The company is pleased to announce that shareholders have exercised 100 per cent of the 6,005,431 outstanding common share purchase warrants at an exercise price of 25 cents per warrant, ahead of their Aug. 12, 2026, expiry date. The warrant exercises have generated $1.5-million in additional proceeds, further strengthening the company's treasury and financial position.

The proceeds will be used to advance the company's continuing field programs in southeastern Alaska, expand its technical team and support general corporate activities as Grande Portage continues to advance its exploration and development initiatives.

Mr. Klassen further commented: "We remain deeply appreciative of our long-standing and supportive shareholders. The exercise of these warrants further strengthens Grande Portage's financial position and enhances our financial flexibility as we continue to advance exploration and field activities at the New Amalga gold project. This continued shareholder support provides a strong foundation as we build momentum toward the next stage of the project's development."

Incentive stock options

The company wishes to announce that, subject to TSX Venture Exchange approval, it has granted incentive stock options to various advisers and consultants to purchase up to 275,000 common shares exercisable on or before Aug. 12, 2031, at a price of 35 cents per share.

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 National Instrument 43-101 mineral resource estimate (MRE) reported at a base-case mineral resources cut-off grade of 2.5 grams per tonne gold 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. Additional information on the New Amalga mine project is available in the technical report titled "Preliminary Economic Assessment for the New Amalga Gold Project Juneau District, Southeast Alaska," dated Feb. 11, 2026, which is available under Grande Portage's SEDAR+ profile.

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