Mr. Ian Klassen reports

GRANDE PORTAGE SIGNS DEFINITIVE COMMERCIAL AGREEMENT WITH OCEAN PARTNERS (UK) LIMITED FOR NEW AMALGA GOLD OFFTAKE

Further to its news release dated June 25, 2026, Grande Portage Resources Ltd. has entered into a definitive gold purchase agreement with Ocean Partners (U.K.) Ltd., a globally recognized metals trading, technical advisory and mine financing group serving the international mining and smelting industries.

The agreement contemplates the sale of up to 100 per cent of the production at Grande Portage's New Amalga property for the first seven years of commercial operation, subject to a minimum tonnage requirement and certain typical conditions precedent. The agreement provides certainty regarding metal payabilities and deductions at various product grades, which can be used to optimize economic studies (preliminary economic assessment to feasibility study) and includes flexible termination rights. The entering into of a definitive agreement for the $25-million (U.S.) revolving credit facility also announced in Grande Portage's news release dated June 25, 2026, remains subject to conditions precedent, including completion of confirmatory due diligence and legal documentation.

Ian Klassen, chief executive officer of Grande Portage, commented: "The agreement with Ocean Partners is another major milestone in the company's path to production. Ocean Partners is internationally respected with a rich experience in metals trading, mine finance and operations. We are delighted to have secured a definitive offtake agreement with them and feel this significantly enhances our direct shipping ore platform that avoids an on-site processing plant and tailings facility to minimize capex [capital expenditure] and expedite permitting."

The company's New Amalga gold project is in the final stages of comprehensive baseline studies with an intention to submit a mining plan of operations to the U.S. Forest Service in Q1 2027, formally initiating the U.S. federal environmental review process (NEPA (National Environmental Policy Act)). The project's federal permitting timetable is available on the FAST-41 dashboard.

Kyle Mehalek, PE, is the qualified person within the meaning of National Instrument 43-101 and has reviewed and approved the technical disclosure in this release. Mr. Mehalek is independent of Grande Portage within the meaning of NI 43-101.

About Grande Portage Resources Ltd.

Grande Portage is a publicly traded mineral exploration company focused on advancing the New Amalga mine project, the outgrowth of the Herbert gold discovery, situated approximately 25 kilometres north of Juneau, Alaska. The company holds a 100-per-cent interest in the New Amalga property. The New Amalga gold system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulphide veins. The project lies prominently within the 160-kilometre-long Juneau gold belt, which has produced over eight million ounces of gold.

The company's updated NI 43-101 mineral resource estimate (MRE) was reported at a base-case mineral resources cut-off grade of 2.5 grams per tonne gold and consists of an indicated resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes) and an inferred resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes) as well as an indicated resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes) and an inferred resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes). The MRE was prepared by Dr. David R. Webb, PhD, PGeol, PEng (DRW Geological Consultants Ltd.), with an effective date of July 17, 2024. Additional information on the New Amalga mine project is available in the technical report titled "Preliminary Economic Assessment for the New Amalga Gold Project Juneau District, Southeast Alaska," dated Feb. 11, 2026, which is available under Grande Portage's SEDAR+ profile.

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