Important Developments For Direct Ore Shipping At Proposed Cascade Point Marine Terminal Site

VANCOUVER - Grande Portage Resources Ltd. reported that the Alaska Department of Transportation & Public Facilities (DOT&PF) is advancing infrastructure development at Cascade Point, the site of theproposed ore shipping terminal as well as a proposed passenger ferry terminal.

The Cascade Point property is owned by Goldbelt Inc, an Alaska Native corporation based in Juneau. Goldbelt and Grande Portage have an existing Letter of Intent to cooperate on advancing a freight barge terminal facility at the site, which would be utilized for transportation of ore from the company's New Amalga Gold Project to a third-party processing facility.

Goldbelt also has an existing Memorandum of Understanding with the Alaska DOT&PF for advancing development of an Alaska Marine Highway System (AMHS) passenger ferry terminal at the site, which would significantly shorten the ferry route between Juneau and nearby communities.

The Alaska DOT&PF announced that it is initiating a design-build contracting process for Phase 1 of the Cascade Point Passenger Ferry Terminal. The scope of work includes all earthworks and site preparation for the uplands area, procurement of materials for development of the marine area, construction of a replacement bridge to enable heavy equipment access to the site, and construction of a new access road suitable for year-round use.

Development of the ore terminal is not contingent on development of the passenger ferry terminal - it can be developed prior to (and independently of) the passenger ferry facility. However, having the ferry terminal proceed first is highly advantageous as it would result in the development of infrastructure that will also be necessary for the ore terminal, particularly the new access road and bridge. This reduces the time and cost required for future ore terminal development.

Ian Klassen, President and CEO, said, "We are extremely pleased to see the State of Alaska advancing the Cascade Point Passenger Ferry Terminal towards construction. In the future, Grande Portage and Goldbelt intend to further develop the site by adding a freight barge terminal for transportation of ore from the New Amalga Gold Project to a third-party processing facility. This dual-use of the site will maximize the benefits to the local economy and create long-term job opportunities for the community of Juneau".