Grande Portage Resources Ltd. (TSXV: GPG) (OTCQX: GPTRF) (FSE: GPB) has signed a definitive gold purchase agreement with Ocean Partners (UK) Ltd., covering up to 100% of production from its New Amalga property in Alaska for the first seven years of commercial operation, according to a company statement.

The agreement includes a minimum tonnage requirement and conditions precedent, and provides terms on metal payabilities and deductions at various product grades. The company said the terms can be applied to economic studies ranging from preliminary economic assessment to feasibility study. The agreement also includes flexible termination rights.

A previously announced US$25 million revolving credit facility with Ocean Partners remains subject to separate conditions precedent, including completion of confirmatory due diligence and legal documentation.

Ian Klassen, CEO of Grande Portage, said the agreement "significantly enhances our direct shipping ore platform that avoids an onsite processing plant and tailings facility to minimize CAPEX and expedite permitting."

The New Amalga Gold Project is in the final stages of baseline studies. The company intends to submit a mining Plan of Operations to the U.S. Forest Service in Q1 2027, which would formally initiate the federal environmental review process under the National Environmental Policy Act.

Grande Portage holds a 100% interest in the New Amalga property, located approximately 25 km north of Juneau, Alaska. The project's most recent mineral resource estimate, effective July 17, 2024, includes an indicated resource of 1,438,500 ounces of gold at an average grade of 9.47 grams per tonne and an inferred resource of 515,700 ounces at 8.85 grams per tonne.