Grande Portage talks New Amalga socio-economic study

• The most recent news release (May 5, 2026) details a socio-economic impact study conducted by McKinley Research Group for the New Amalga Gold Project.
• Key findings include projected employment of 565 total positions during operations and 370 during construction.
• Economic benefits cited include $48.8M USD in direct labor income annually and $129M USD in state/local taxes over mine life (at $3,200/oz gold).
• The study reiterates the Mineral Resource Estimate effective July 17, 2024: 1.44 Moz Indicated Gold @ 9.47 g/t and 0.52 Moz Inferred Gold @ 8.85 g/t.
• It confirms the development strategy remains a small-footprint underground mine with third-party offsite processing to eliminate tailings storage facilities.
• This follows the Preliminary Economic Assessment (PEA) filed on SEDAR+ on April 21, 2026, and announced on April 15, 2026.

• The socio-economic study is a standard permitting milestone following a PEA; it does not introduce new economic metrics or resource estimates that would alter the valuation model established in mid-April.
• The core financial drivers (NPV $721M, IRR 56%) were already priced into the stock during the April PEA announcement and subsequent rally to February/March highs.
• Current market reaction appears muted relative to the April news, suggesting investors are focused on execution risk rather than social license benefits at this stage.
• The release confirms management's commitment to community engagement but does not address the significant capital gap required for construction ($254M CAPEX vs ~$10M current working capital).
• Rating is Routine - Positive because the information is expected within the development timeline and serves as a supporting document rather than a fundamental value driver.

• Company: Grande Portage Resources Ltd. (TSXV: GPG).
• Flagship Project: New Amalga Gold Project, located 25km north of Juneau, Southeast Alaska.
• Project Status: Development phase; Preliminary Economic Assessment completed Q1 2026.
• Mine Concept: Underground mining with direct shipping ore (DSO) to third-party processors in British Columbia.
• Key Advantage: Eliminates on-site mill and tailings storage facility, reducing CAPEX and environmental footprint.
• Resource Base: 1.44 Moz Indicated Gold @ 9.47 g/t; 0.52 Moz Inferred Gold @ 8.85 g/t (Effective July 2024).