Gold Miner Announces Excellent Backfill Results at Alaska Project

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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 July 6, 2026, Grande Portage Resources Ltd. (GPG:TSX.V; GPTRF:OTCQB; GPB:FSE)  reported positive results from the preliminary strength testing of mine backfill materials at its New Amalga gold property near Juneau, Alaska. Lab results of cemented rockfill (CRF) samples met or exceeded the preliminary strength criteria selected for overhand long-hold stoping, which is the primary mining method the company intends to employ on this property. Grande Portage will now advance both the waste rock from mine development and other ore-sorter reject rock as feedstocks for making CEF backfill.

According to the release, the company will advance future test work with CRF to evaluate backfill for underhand stoping, a secondary mining method requiring higher-strength backfill that will be used for a small portion of New Amalga production. The release also noted that additional geochemical test work is in progress on New Amalga core samples representing all major rock types to check for acidity that could cause a potential for reaction over time.

Ian Klassen, President and CEO of Grande Portage, said in the release: "This is an important derisking milestone. We are very pleased with results of this initial test work, demonstrating that development waste rock and ore-sorter reject rock are appropriate feedstocks to advance for structural backfill use at New Amalga. This further validates our small-footprint strategy, which results in all waste and reject rock being placed back underground, avoiding the need for permanent disposal facilities on surface. This approach can be expected to not only reduce surface disturbance but also lower future reclamation obligations and simplify environmental permitting."

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. The New Amalga resource remains open to expansion in multiple directions and hosts an indicated resource of 1,438,500 ounces of gold (Au) at an average grade of 9.47 grams per tonne gold (4,726,000 tonnes) and an inferred resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes).

Gold Staying Afloat Despite Uncertain Global Politics

Junior miners and exploration companies hit the ground running this year after gold rallied at a high of US$5,500 per ounce in January. Many companies, like Grande Portage., chose to begin exploration or production amid these highs. While prices have since fallen, and even dipped below US$4,000 in June, rates are still up 24% compared to July 2025, and Gold.org wrote that: "[T]he stage is set for a possible breakout. On the upside, clear catalysts – a worsening economy or renewed geopolitical shock, a shift towards lower interest-rate expectations, or a wave of dip buying — could reignite gold’s momentum and lift it back towards US$4,500/oz or above."

Despite a slight rise in gold prices at the end of last week due to positive U.S. home sale data, rates have dipped again due to the ongoing U.S.-Iran War. Inflationary fears were reignited after Brent crude oil prices rose again after a several-week ceasefire between the two countries lost its stability. According to a July 13, 2026, report by Kitco Newswire, "The Strait of Hormuz situation is best characterized as open transit under active military contest, not a stable shipping environment and not a fully verified closure." At the time of writing, Kitco listed gold prices down to US$4,055.40 per ounce.

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.

Experts Say Project is "Not Exactly Small Potatoes"

Jeff Clark and Daniel Flynn of The Paydirt Prospector provided a mid-summer update on Grande Portage on July 9, 2026. They noted that the New Amalga project is ". . . a high-grade Alaskan gold project with a CA$721M PEA NPV at CA$3,200 gold. Not exactly small potatoes." With the recent hike in gold prices, that Preliminary Economic Assessment was completed at rates way lower than they are actually worth now.

Clark and Flynn wrote: "Grande Portage got a well-earned bump from the recent Ocean Partners deal, which brought an offtake agreement and potential CA$25M financing package. But we still don’t think New Amalga is getting anything close to full credit . . . [Daniel Flynn] recently added an overweight allocation because I want proper exposure as New Amalga scales. Jeff maintains his overweight position as well."

Infrastructure Development Planned

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$68.46 million, with 185.01 million shares outstanding.

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

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