Grande Portage hires Timberline for New Amalga drilling

Executive Summary

• Grande Portage Resources has secured a drilling contract with Timberline Drilling Inc. for its 2026 program at the New Amalga gold project in Alaska, marking a transition from exploration to strategic development planning.
• The 2026 program involves up to 4,300 metres of diamond drilling across 14 holes, including geotechnical and hydrogeological characterization (piezometers, packer testing) to support environmental reviews and permitting.
• The company is finalizing a National Instrument 43-101 Preliminary Economic Assessment (PEA) expected in late Q1 2026 and intends to apply for U.S. federal FAST-41 status to streamline the regulatory process.

Key Details

• Drilling Contract: Signed with Timberline Drilling Inc. for the 2026 program at the New Amalga gold property.
• Drilling Scope: Up to 4,300 metres of diamond drilling from up to 14 drill holes.
• Technical Objectives:
  • Upgrade resource classification in key deposit areas.
  • Characterize geotechnical and hydrogeological aspects of the rock mass.
  • Gather data for environmental review, permitting, and mine development plans.
• Timeline: Drilling expected to begin in late June, aligned with the U.S. Forest Service operations permit obtained in January.
• Geotechnical/Hydrogeological Work:
  • Detailed geotechnical logging for underground infrastructure areas.
  • Installation of piezometers to measure groundwater levels and pressures.
  • Packer testing to determine hydraulic conductivity/permeability.
• Regulatory & Permitting Activities:
  • Finalizing NI 43-101 Preliminary Economic Assessment (PEA), anticipated completion in late Q1 2026.
  • Intends to apply for U.S. federal FAST-41 status post-PEA for coordinated regulatory oversight.
  • Collaborative meetings held with over a dozen U.S. Forest Service specialists regarding baseline studies.
• Additional Contracts & Activities:
  • Wildlife, soil, and wetlands surveys for mine surface infrastructure and access roads.
  • Archeological and cultural investigations.
  • Construction of meteorological towers and environmental monitoring stations.
  • Engineering design and geotechnical surveys for the initial mine access road segment; easement application from the State of Alaska is pending.
• Project Resource Data (Effective July 17, 2024):
  • Indicated Gold: 1,438,500 oz at 9.47 g/t Au (4,726,000 tonnes).
  • Inferred Gold: 515,700 oz at 8.85 g/t Au (1,813,000 tonnes).
  • Indicated Silver: 891,600 oz at 5.86 g/t Ag (4,726,000 tonnes).
  • Inferred Silver: 390,600 oz at 7.33 g/t Ag (1,813,000 tonnes).
• Historic Drill Intercepts (Selected):
  • Deep Trench vein: 15.3 m at 37.1 g/t Au; 8.3 m at 58.6 g/t Au; 11.6 m at 28.3 g/t Au.
  • Goat vein: 2.1 m at 74.2 g/t Au; 6.3 m at 15.7 g/t Au.
  • Main vein: 3.1 m at 79.2 g/t Au; 2.1 m at 37.2 g/t Au; 3.1 m at 13.9 g/t Au.
  • Ridge vein: 1.5 m at 43.0 g/t Au; 1.5 m at 29.2 g/t Au.
  • Sleeping Giant vein: 2.1 m at 15.4 g/t Au; 3.2 m at 20.7 g/t Au.
• Development Concept: Small-footprint underground mining with third-party off-site processing, eliminating the need for an on-site mill, tailings storage, or permanent waste rock storage.
• Partnerships: Letter of Intent (LOI) signed with Goldbelt Inc. for the development of an ore export terminal at Cascade Point, located 22 km from the project.

Notable Quotes

• Ian Klassen, President and CEO: "We are excited to once again be working with Timberline, one of the premier drilling contractors operating in the state of Alaska. Our 2026 drill plan marks a pivotal progression for the New Amalga project as we advance from pure exploration into strategic development planning. In addition to collecting resource data, this upcoming program is designed to secure the critical geotechnical and hydrogeological measurements necessary for the environmental review and permitting process. Gathering these essential data sets is a big step in moving the project towards the regulatory milestones which enable mine development."