Grande Portage Closes C$5Million Equity Raise

On December 9, 2025, Grande Portage Resources announced the closing of its previously announced C$5 million non-brokered private placement. The financing consisted of 20 million units at a price of C$0.25 per unit. Each unit comprises one common share and one common share purchase warrant, entitling the holder to purchase an additional common share at an exercise price of C$0.35 for 24 months. The financing was subscribed for by renowned resource investor Eric Sprott. The proceeds will be used for the exploration and development of the New Amalga Gold deposit and for general working capital.

The closing of this C$5 million financing is a material positive event, primarily because it confirms the significant investment by Eric Sprott, which was announced on December 4, 2025.

• Strategic Endorsement: An investment of this size from Eric Sprott is a game-changing endorsement for a junior exploration company. It provides significant validation of the New Amalga project's quality and management's strategy in the eyes of the market. This de-risks the equity story and is likely to attract further institutional and retail interest.
• Financial Fortification: This capital injection transforms the company's balance sheet. The CEO's previous statement indicated this financing would bring year-end working capital to approximately C$10 million. This fully funds the company through its next set of major catalysts, including the completion of a Preliminary Economic Assessment (PEA) and the planned 4,300-metre 2026 drill program. This removes any near-term financing overhang and allows management to focus on execution.
• Execution and Momentum: This financing is the culmination of a year of steady de-risking progress. Throughout 2025, the company has announced positive ore-sorting test work, initiated multiple environmental and permitting studies, staked additional claims, secured an indicative offtake term sheet, and filed for a new drill permit. Securing this funding demonstrates momentum and management's ability to deliver on its stated goals.

While the announcement on December 4th was the true catalyst (driving the stock from C$0.28 to C$0.32), this closing formalizes the transaction and puts the cash on the balance sheet. The financing was done at C$0.25, a slight discount to the market price before the announcement, but the market has clearly interpreted the strategic value of Sprott's involvement as outweighing the modest dilution of approximately 12.8%.

Grande Portage Resources Ltd. is a Canadian-based exploration company focused on its 100%-owned New Amalga Gold Project in the Juneau Gold Belt of southeastern Alaska. The project hosts a high-grade, multi-vein gold resource with a NI 43-101 Indicated Resource of 1,438,500 ounces of gold at 9.47 g/t Au and an Inferred Resource of 515,700 ounces of gold at 8.85 g/t Au. The company's development strategy is to build a small-footprint, low-impact underground mine utilizing ore-sorting technology and shipping the material to a third-party processor. This "direct-ship" model is designed to significantly reduce initial capital expenditures and environmental footprint by avoiding the need for an on-site mill or tailings storage facility.