VANCOUVER, BC — December 9, 2025 — Leads & Copy — Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) has closed a non-brokered private placement offering, raising C$5,000,000. The offering consisted of 20,000,000 units priced at $0.25 per unit, with Mr. Eric Sprott, through 2176423 Ontario Ltd., subscribing as the sole investor.
Each unit comprises one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to purchase one common share at $0.35 for two years from the grant date.
Grande Portage intends to allocate the net proceeds from the offering to exploration and development of the New Amalga Gold deposit and for general working capital. The securities issued are subject to a four-month hold period, expiring on April 10, 2026.
The closing of the offering is subject to standard conditions, including approval from the TSX Venture Exchange (TSXV). Mr. Sprott has agreed not to exercise any warrants if it would result in him holding over 19.99% of the company’s outstanding common shares until shareholder approval is secured for him to become a new Control Person, as defined by TSXV policies.
Before the offering, Mr. Sprott owned 15,000,000 common shares, around 9.5% of the company’s outstanding shares. Following the offering’s completion, he now owns 35,000,000 common shares and 10,000,000 warrants, representing approximately 19.7% of the outstanding common shares on a non-diluted basis and 24% on a partially diluted basis, assuming all warrants are exercised.
Mr. Sprott’s acquisition of the units is for investment purposes, with a long-term view. He may buy or sell additional securities of Grande Portage in the future, depending on market conditions, changes in plans, and other factors.
An early warning report regarding Mr. Sprott’s acquisition will be available under Grande Portage’s SEDAR+ profile at www.sedarplus.ca and can be obtained by contacting Mr. Sprott’s office.
Grande Portage Resources Ltd. is focused on advancing the New Amalga Mine project, stemming from the Herbert Gold discovery, located approximately 25 km north of Juneau, Alaska. The company has full ownership of the New Amalga property, situated within the Juneau Gold Belt.
The company’s updated NI 43-101 mineral resource estimate, using a 2.5 grams per tonne gold cut-off grade, includes 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). Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) prepared the mineral resource estimate, effective July 17, 2024. More project details can be found in the technical report “Technical Report of the Herbert Gold Property, Juneau District, Southeast Alaska” dated July 17, 2024, available on Grande Portage’s SEDAR+ profile.
Ian M. Klassen, President & Chief Executive Officer, can be contacted at (604) 899-0106 or Ian@grandeportage.com.
Source: Grande Portage Resources Limited
