Grande Portage Closes Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

VANCOUVER, BC / ACCESS Newswire / June 12, 2025 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has closed its non-brokered private placement initially announced on June 3, 2025 and upsized on June 5, 2025 with the sale of 22,500,000 Units priced at $0.20 per Unit for aggregate gross proceeds of $4,500,000. The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") to purchasers resident in Canada, other than Quebec, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. There is an offering document (the "Offering Document") related to this Offering that can be accessed under Grande Portage's profile at www.sedarplus.com and on the Company's website at https://grandeportage.com. All investors participating in the closing subscribed for Units under the LIFE Exemption, and the Units issued pursuant to the LIFE Exemption are not subject to any statutory hold period in Canada.

Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one additional Common Share at an exercise price of C$0.26 per Common Share for a period of three years after closing and are subject to a four-month hold period which will expire on the date that is four months and one day from the date of issue. No insiders participated in the Offering. The Offering was conditionally approved by the TSX Venture Exchange (the "TSXV") but is subject to the final approval of the TSXV.

The Company will pay an aggregate of $263,550 in cash and issue 1,317,750 non-transferable Finders Warrants in connection with this offering. Each Finder's Warrant entitles the holder to acquire one common share of the Company at $0.20 per share for 36 months from the date of closing. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies.

Grande Portage intends to use the net proceeds of the Offering for furthering the exploration and development of its New Amalga Gold project in Alaska, as well as general working capital purposes.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.