Resource Estimate For The Herbert Gold Project

VANCOUVER - Grande Portage Resources Ltd. reported a new NI 43-101 Independent Mineral Resource Estimate for its 100% controlled Herbert Gold Project located in S.E. Alaska.

The Mineral Resource estimate has a base case mineral resource cut-off grade of 3.00 grams per tonne gold (gpt Au) is capped at 125 gpt and consists of: An Indicated Resource of 1,196,800 ounces of gold at an average grade of 10.23 gpt Au in 3,637,000 tonnes; An Inferred Resource of 325,900 ounces of gold at an average grade of 8.91 gpt Au in 1,138,000 tonnes; An Indicated Resource of 686,700 ounces of silver at an average of 5.87 gpt Ag in 3,637,000 tonnes; An Inferred Resource of 169,300 ounces of silver at an average grade of 4.63 gpt Ag in 1,138,000 tonnes; and Gold & Silver Resources at the Herbert property remain open at depth and along strike.

Ian Klassen, President and CEO, said, "We are extremely pleased to present the revised independent resource estimate for the Herbert Gold Property, the result of a very diligent effort on the part of the Company's exploration team. The 2020 drilling plan was designed to maximize expansion which encountered significant development of gold in the Goat Hanging Wall, Goat Main Vein, Ridge Vein Hanging Wall, Main Vein North Strand and Deep Trench Vein. The Sleeping Giant is a new gold discovery in 2020 and has contributed high grade ounces to the resource. Further development is planned for the upcoming 2021 drill season. In addition, intersections within the metasediments west of the quartz diorite have now been included into the resource. To the south, drill core recovered from the newly discovered Elusive Vein confirmed gold values above the resource cut off of 3 grams per tonne but was not included in the 2020 resource calculation until additional drilling is conducted.

We are confident that the Company will continue to significantly expand the resource as it further identifies and drill tests the prolific nature of this mesothermal vein deposit. We are very pleased that all of the 2020 targets tested added to the resource, and that additional veins (Sleeping Giant) are now being developed. It is also noteworthy that the resource estimate now includes the silver component within the Herbert property."

Silver occurrences are associated with the gold values in the Herbert Deposit especially in areas with strong galena mineralization, with specific concentrations noted in the Main Vein where it enters the metasediments to the west. Drill hole 11I-4 intercepted 0.93 m of 4,010 gpt silver followed by 1.52 m of 195 gpt silver associated with galena and sphalerite mineralization. Four additional intercepts reporting >200 gpt silver are found in other areas.

The updated NI43-101 resource estimate used a total of 175 drill holes and 7 channel cuts to calculate the Mineral Resource. At total of 4,079 samples were assayed for gold and 3,854 samples were analyzed for additional pathfinder elements. There were 1,171 unassayed sections of core that are assumed to be 0 gpt gold.