Candian Exploration Co. Advances High-Grade Alaska Gold Mine Toward Production

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

On June 1, 2026, Grande Portage Resources Ltd. (GPG:TSX.V; GPTRF:OTCQB; GPB:FSE) provided a project update for its New Amalga gold property outside of Juneau, Alaska. According to the company, "in addition to the 2026 drill program, numerous engineering studies and environmental fieldwork programs are in progress utilizing several industry-leading consulting firms, most of which are based in Alaska."

Some 2026 field season activities include:

• Designing and commencing geotechnical surveys for an access road and applying for an easement from the state of Alaska
• Continuing field surveys and aquatic studies to document aquatic biological conditions in the project area for future Alaska Department of Fish and Game permits
• Working on climate assessments in several locations within the project area to define engineering and environmental criteria for snowfall, precipitation events, and other weather factors. These assessments will impact future facility design and inform the federal National Environmental Policy Act (NEPA) review process.
• In relation to the climate assessments, the company is constructing two meteorological stations to enable the collection of weather data, which will provide input necessary to apply for an Alaska Department of Conservation air quality control permit.
• In order to comply with the Alaska Historic Preservation Act and Section 106 of the National Historic Preservation Act, archeological and cultural resource surveys are planned in proximity to the project.
• Avian and wildlife surveys are scheduled to identify nesting and habitat areas for eagles, goshawks, and marbled murrelets, as are ground surveys for terrestrial wildlife, such as mountain goats.
• Geohazard surveys are scheduled to identify the risk of events like avalanches, landslides, flood zones, seismic events, and other potential hazards that could affect the design of mine infrastructure.
• Tests on core samples are ongoing to assess long-term potential

River and water sampling, as well as other flora and fauna surveys, are also continuing. Mapping of the extent of wetlands and other jurisdictional waters to maintain compliance with the U.S. Clean Water Act is in Phase 2, focusing on the remaining project areas not included in 2025's Phase 1 delineation.

Ian Klassen, president and CEO of Grande Portage, commented: "We are excited to be moving forward with this extensive roster of project studies and field surveys as we advance the New Amalga project towards the state and federal regulatory review process. The firms we've selected are all leaders in their respective fields, with a large proportion of the work being done by Alaska-based teams with extensive experience operating in the region."

Grande Portage Resources Ltd. is a Canadian exploration company that is focused on its 100%-owned, high-grade New Amalga Gold Project in Alaska and developing Alaska's next underground gold mine.

Gold Rally Continues Amid Global Turmoil

Gold remains a safe haven asset but is still vulnerable to fears of inflation and geopolitical uncertainties, as has been evidenced by the ongoing war between the U.S. and Iran. A May 29 article by Investing.com discussed how these tensions are affecting the metals markets, saying, "In the current environment, investors are increasingly worried that higher oil and energy costs linked to the Middle East crisis could fuel broader inflation pressures, forcing the Federal Reserve to maintain restrictive monetary policy." 

Gold surged to a record high earlier in the year, hitting a high of US$5,000 per ounce in January, and many expect the rally to resume once international conflict cools down. In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Expert Expects Huge Returns on Investment

Daniel Flynn of The Gold Advisor celebrated Grande Portage's flood of news on June 4, 2026, writing: "Individually, we don't need to worry too much about the minutiae of each work program. But collectively, they are critical when it comes to ticking the boxes for advancing the project through review. And you need that for a PFS, a DFS, and ultimately, a producing mine." Flynn went on to say, "It hosts a near-surface indicated resource of 1.44Moz at 9.47g/t gold, plus Inferred resources of 516Koz at 8.85g/t."

Flynn gave the company a "Buy" rating, calling the stock's current rate "incredibly cheap." He said, "At Grande Portage's current CA$44M market cap, it trades at just 0.06x the base case NPV for New Amalga. The project also boasts reasonable pre-production capex of CA$254.8M, thanks to its direct ore shipping model, along with AISC of CA$1,408, giving it strong leverage to higher gold prices."

With further drill results coming out later this year, Flynn looks forward to seeing what New Amalga has to offer.

Catalyst-Rich 2026 Ahead

In its investor presentation, Grande Portage provided an update on its 2026 plans.

These include waiting for the review of an easement application that the company submitted to enable the development of the initial segment of the mine access road and preparing for the FAST-41.

Ownership & Share Information¹

Grande Portage Resources Ltd. has a market cap of CA$59.95 million, with 185.01 million shares outstanding. The company's 52-week range is CA$0.17-CA$0.58.

Strategic Investors own 18.92% of shares, while Management & Insiders own 5.07%. The remaining 76.01% of shares are held by Retail.