Grande Portage Closes C$6 Million Equity Financing

Grande Portage Resources Ltd. has closed a C$6 million equity financing with Ocean Partners UK Limited. The transaction was priced at $0.45 per unit, with each unit comprising one common share and one-half of a common share purchase warrant. The warrants carry a $0.60 exercise price, a 24-month term, and an acceleration clause triggering automatic expiration if shares close at $0.70 or higher for five consecutive trading days.

Ocean Partners agreed to a 24-month contractual hold period on all issued shares and warrants, alongside the standard 4-month statutory hold. Net proceeds are allocated to development activities, study work, permitting, working capital, and general corporate purposes. This closing finalizes the binding term sheet announced on June 25, 2026, which also included a $25 million USD construction loan and a 7-year commercial offtake agreement.

Grande Portage Resources Ltd. (GPG) has closed a C$6 million financing, an expected execution of the announcement made on June 25, 2026. The transaction does not introduce new fundamental data or alter the project's economic profile. The units were priced at $0.45 per unit, a significant step-up from the December 2025 financing with Eric Sprott, which was priced at $0.25 per unit.

Ocean Partners’ shares are subject to a 24-month contractual hold, a restriction that limits near-term liquidity while signaling a long-term commitment aligned with the project's development timeline. The capital stack also includes an accompanying $25 million construction loan and a definitive offtake agreement; however, both remain subject to formal documentation and milestone completion. Until those documents are fully executed, the capital stack is not entirely secured.

Grande Portage Resources Ltd. is a pre-revenue junior explorer focused on the New Amalga Gold Project in Southeast Alaska. The project features a high-grade gold-silver resource comprising 1.44 million ounces indicated and 0.52 million ounces inferred, with a conceptual mine plan centered on a small-footprint underground operation.

The development strategy utilizes a Direct-Ship Ore (DSO) model, eliminating the need for an on-site processing plant, tailings storage facility, or permanent waste rock storage. Ore will be sorted on-site and shipped via barge to third-party processors. A February 2026 Preliminary Economic Assessment (PEA) outlines a base case net present value (NPV) of $721 million and an internal rate of return (IRR) of 56% at $3,200/oz gold, with an upside case NPV of $1.56 billion at $5,000/oz gold. Targeted production start is 2031, following a lengthy permitting and construction phase.