New Amalga Gold Project Five Year Permit Received

VANCOUVER – Grande Portage Resources Ltd. reported on the advancement of a number of technical and permitting initiatives related to its New Amalga Gold Project in Southeast Alaska. It has received a five-year Fish Habitat Permit from the Alaska Department of Fish & Game relating to the proposed installation of a stream level monitoring system for the Herbert River within the project area. This will provide critical baseline data necessary for engineering design and future environmental review. Installation of this instrumentation will proceed after receipt of the Special Use Permit which has been applied for with the US Forest Service. In line with the company’s plans to advance towards a Preliminary Economic Assessment (PEA) for the project, an initial Geotechnical and Hydrogeological Review has been completed by SRK Consulting to inform the PEA as well as guide future stages of fieldwork to further define the expected groundwater conditions and rock behaviour in the deposit area.
An aerial LiDAR scan has been completed for the project’s potential infrastructure areas and access road corridor. The data from this scan, in combination with the company’s existing LiDAR data for the terrain above the mineral resource area, will be instrumental towards the planning and engineering design of surface infrastructure, buildings, and roadways. The company has contracted two independent ore offtake studies to identify the most optimal destination for sorted ore from New Amalga under a direct-to-smelter scenario, along with expected gold payabilities and transportation costs. This will provide key inputs for developing a Preliminary Economic Assessment for the project.
A Memorandum of Understanding was signed between the State of Alaska and the Federal Permitting Improvement Steering Council which enables the Alaska Department of Natural Resources to coordinate directly with the Permitting Council and nominate projects for streamlined and transparent permitting under the federal FAST-41 program. Grande Portage applauds this milestone and sees this as one of multiple potential pathways for enabling the project’s expeditious advancement through the environmental review and permitting process.
The future facilities at the project site are envisioned to include a small-footprint underground mining operation without an ore processing plant or tailings disposal landfill. Due to the resource location near tidewater and less than 4 miles (6.5km) from existing paved highway, the Company considers off-site processing by a third party to be the most favorable configuration for the project.