Grande Portage contracts baseline survey for New Amalga

Executive Summary

• Grande Portage Resources provides a significant operational update on the transportation infrastructure for its New Amalga gold project in Alaska, focusing on the progress of the project access road and the proposed ore barge dock at Cascade Point.
• The company’s application for a State of Alaska road easement has reached the adjudication stage, allowing for the start of mine access road construction on state land and the establishment of a closer helicopter staging area to improve logistical efficiency.
• Significant progress has been made on the Cascade Point ore barge dock through a Letter of Intent with Goldbelt Inc., supported by recent state contracts for ferry terminal development and hydro power extension to the site.

Key Details

• Project Access Road:
  • Application for a State of Alaska road easement (covering the initial one-third of the route) has progressed to the adjudication stage at the Department of Natural Resources.
  • A contract has been signed for an archaeological and cultural resources survey to take place in early spring, a prerequisite for road construction.
  • The easement enables construction on state land and establishes a new helicopter staging area closer to the project site than the previous Juneau International Airport location, reducing cycle distance and noise impacts.
• Ore Barge Dock at Cascade Point:
  • Development is proceeding under a June 2024 Letter of Intent (LOI) with Goldbelt Inc.
  • The dock design integrates with the Alaska Marine Highway System ferry terminal planned by the Alaska Department of Transportation & Public Facilities (ADOT&PF).
  • In July 2025, ADOT&PF awarded a $28.5 million (U.S.) contract for phase 1 work at Cascade Point, including uplands development, site preparation, and engineering/environmental studies.
  • In December 2025, the State of Alaska signed a $1.3 million (U.S.) contract with Juneau Hydro to extend hydro power infrastructure to Cascade Point, providing grid-based renewable power to reduce operating costs and emissions.
  • Goldbelt provided the next phase of engineering drawings for the ore barge dock; the concept utilizes containerized ore loading via forklifts to minimize infrastructure size and environmental risk.
• Project Resource and Technical Data:
  • Gold Resource: Indicated resource of 1,438,500 ounces at 9.47 g/t Au (4,726,000 tonnes); Inferred resource of 515,700 ounces at 8.85 g/t Au (1,813,000 tonnes).
  • Silver Resource: Indicated resource of 891,600 ounces at 5.86 g/t Ag; Inferred resource of 390,600 ounces at 7.33 g/t Ag.
  • Drilling Highlights:
    • 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.
  • Surface Sampling: Goat vein channel samples assayed 129.02 g/t Au and 290 g/t Au with 224 g/t Ag.
  • Metallurgy: Recoveries up to 98.2% have been achieved.
• Development Strategy:
  • Small-footprint underground mining with third-party off-site processing.
  • Eliminates need for on-site mill, tailings storage facility, and permanent waste rock storage.
  • Preliminary Economic Assessment (PEA) is in progress, expected completion Q1 2026.

Notable Quotes

• "The advancement of the Cascade Point ferry terminal, combined with planned hydro power access and receipt of preliminary dock facility designs, represents significant progress since our initial announcement with Goldbelt," said Ian Klassen, president and chief executive officer of Grande Portage Resources. "These developments support our long-held objectives of establishing a practical, efficient and environmentally responsible marine logistics solution for the New Amalga project."