VANCOUVER, BC / ACCESS Newswire / June 25, 2026 / Grande Portage Resources Ltd. (TSXV:GPG)(OTCQX:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that Ocean Partners UK Limited ("Ocean Partners") has entered into binding term sheets with Grande Portage to provide a commercial offtake agreement, equity, and make available a construction loan and overrun facility to assist with advancing the New Amalga Gold Project (the "Project"). This partnership presents Grande Portage with greater certainty and flexibility as the project is advanced to production.
STRATEGIC PARTNERSHIP COMPONENTS
Commercial offtake agreement for up to 100% of production for first 7 years of commercial operation.
Equity investment of $6 million at an above-market financing price.
Construction Loan and Overrun Facility of up to USD$25 million, subject to formal documentation and funding / development milestones being met.
Ian Klassen, CEO of Grande Portage, commented: "We are delighted to advance this partnership with Ocean Partners. Moving to a Definitive Commercial Offtake Agreement solidifies our mutual recognition and commitment to responsible development at the high-grade New Amalga Gold Project in Southeast Alaska. This is strong validation of our project's robust economics as outlined in our recently filed PEA and our vision to develop the mine using a direct-ship platform. The substantial above-market equity infusion and the construction loan & overrun facility further unite our two companies with the common goal of responsibly developing Alaska's next underground gold mine."
Brent Omland, CEO of Ocean Partners, remarked: "We are delighted to forge this important partnership with Grande Portage Resources. Their New Amalga Gold project has all the right ingredients for success: a direct shipping ore platform that avoids an onsite processing plant and tailings facility to minimize CAPEX and expedite permitting, an expandable high-grade gold resource, and the potential for rapid return on investment capital. We are excited to be working with the team at Grande Portage and look forward to seeing the New Amalga Gold project emerge as one of Alaska's next underground gold mines."
STRUCTURE OF THE PARTNERSHIP
The Grande Portage partnership provides significant synergies with Ocean Partners' metal trading operations. The sorted mine production will be sold directly to Ocean Partners, eliminating the need for a processing and tailings disposal facility at the New Amalga mine site. This reduces operating cost, capital cost and regulatory complexity.