Grande Portage Resources Ltd. has reached the midpoint of its 2026 drilling program at the New Amalga Gold Project in southeast Alaska, completing 1,605 metres and 5 out of 12 planned drillholes toward a total program target of 3,255 metres.

The current campaign marks a shift from pure exploration toward data collection for mine development planning, incorporating hydrogeological and geotechnical rock mass data collection to support upcoming environmental reviews and permitting processes. Alongside drilling, construction has advanced on environmental monitoring infrastructure, including the installation of a river-monitoring gauge station in the Herbert River and foundation concrete works for the first of two planned meteorological towers. Foundation work for the second tower is scheduled for August, with tower erection planned in September, while baseline studies covering wetlands mapping, wildlife, botanical, and geochemical evaluations remain ongoing.

“This year's drill program marks a pivot from pure exploration to a focus on data collection for mine development planning. This adds complexity including a larger amount of personnel, equipment, and helicopter logistics. Grande Portage would like to thank all of our contractors and personnel for their effective coordination and successful efforts in reaching the midpoint of the 2026 drilling program.”

— Ian Klassen, President & CEO

Financially, shareholders have exercised 100% of the 6,005,431 outstanding common share purchase warrants ahead of their August 12, 2026 expiry date. Priced at $0.25 per warrant, the exercise generated $1.50 million in additional proceeds to strengthen the company's treasury for ongoing field programs, technical team expansion, and general corporate activities. In addition, the company granted 275,000 incentive stock options to advisors and consultants, exercisable at $0.35 per share on or before August 12, 2031, subject to TSX Venture Exchange approval.

The New Amalga project holds an updated Mineral Resource Estimate prepared by DRW Geological Consultants Ltd. with an effective date of July 17, 2024, comprising an 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. Gold traded at US$4,393.80 per ounce ahead of the announcement, representing a 7.88% increase over the 30-day period prior to August 13, 2026.

Read the full announcement: Grande Portage Resources Advances 2026 Drill Program and Field Activities, Confirms 100% Warrant Exercise