Grande Portage Resources Ltd. (TSX-V: GPG) (OTCQB: GPTRF) (FSE: GPB) is pleased to announce that its shareholders have exercised approximately 99% of the outstanding warrants expiring on July 30, July 31 and August 6, 2021 (14,874,099 warrants) with net proceeds of $2,334,520 being added to the Company’s treasury.
The board, management and advisors to the Company exercised a total of 5,060,030 warrants.
The use of proceeds will be employed to continue the Company’s expansion drill program on its 100% controlled Herbert Gold project in SE Alaska.
Ian Klassen, President and CEO of Grande Portage, remarked, “We are very appreciative of all the support our shareholders continue to give us with their hard earned money. I am very pleased to confirm that virtually the full complement of warrants expiring recently have now been exercised, a vote of confidence from our long-term shareholders. GPG now has a total of 9,897,665 warrants outstanding with expiry dates on January 9, 2022 ($0.45), May 5, 2023 ($0.45), and on June 12, 2023 ($0.72).”
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The Herbert Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold. The Company’s updated NI#43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 3.0 grams per tonne gold (g/t Au) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t Au (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t Au (1,138,000 tonnes), as well as an Indicated resource of 686,700 ounces of silver at an average grade of 5.87 g/t Ag (3,637,000 tonnes); and an inferred resource of 169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).
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We acknowledge the [financial] support of the Government of Canada.