CANEX Intersects 1.8 g/t Gold Over 6.1 Metres Within a Wider Zone of 0.6 g/t Gold Over 30.5 Metres at the Eldorado Zone - Drilling Resumes at Gold Range

Canex Metals Inc. ("CANEX" or the "Company") is pleased to announce the results from 10 reverse circulation drill holes from the Eldorado Zone at the Gold Range Project located in northern Arizona. The Company is also pleased to announce that reverse circulation drilling has resumed at Gold Range

Highlights

Hole GR21-73 intersected 1.8 g/t gold over 6.1 metres within a wider interval of 0.6 g/t gold over 30.5 metres starting at 12.2 metres depth.
Hole GR21-77 intersected 5 mineralized horizons including 1.1 g/t gold over 7.6 metres.
Hole GR21-71 intersected 3 mineralized horizons including 0.5 g/t gold over 10.6 metres beginning at surface.
Hole GR21-69, a 220 metre step out hole to the north of Eldorado, intersected 3 mineralized horizons ranging from 3 to 30.5 metres thick (drill intercepts) demonstrating good expansion potential.
Reverse circulation drilling has resumed at Gold Range.
Assay results for 18 drill holes are pending from multiple targets on the property.

Assay results for drill holes GR21-69 to 78, all from the Eldorado zone, have been received and are presented here. A drill hole location map is shown on Figure 1, and a NW-SE cross section through Eldorado showing hole GR21-73 is shown on Figure 2. These holes were all step outs, mostly on the north and west side of Eldorado, and are starting to define a higher-grade central zone surrounded by lower grade material with the total zone now identified over an area 300 metres by 200 metres that remains open. Results from the Eldorado zone have exceeded expectations with 9 of the 10 step out holes intersecting gold mineralization and the majority of holes showing indications of multiple stacked mineralized horizons.

Holes GR21-73 tested the northwest side of the Eldorado zone and returned 0.6 g/t gold over 30.48 metres from 12.2 metres depth, including 1.8 g/t gold over 6.1 metres. Hole GR21-73 intersected a second zone of mineralization at depth that returned 0.7 g/t Au over 3.05 metres from 57.9 metres depth. Overall the zone appears to be getting thicker and perhaps stronger to the northwest where it remains open for expansion.

Hole GR21-69 was a 220 metre step out on the north side of the Eldorado zone. The hole intersected 3 mineralized horizons, supporting the Company's interpretation that the Eldorado zone has potential for multiple stacked sub horizontal mineralized zones and demonstrating significant room to expand the zone. Hole GR21-71 was located 130 metres south of hole GR21-69 and 100 meters north of the Eldorado zone. This hole also intersected 3 mineralized horizons, with the upper horizon also including a few metres of historic leach pad material. Holes GR21-69 and 71 support potential for significant expansion of the Eldorado mineralized zone to the northeast.

Dr. Shane Ebert, President of the Company stated, "We are very pleased to resume drilling at Gold Range and continue to test and understand this significant mineralized system which we have successfully expanded with each exploration program. Drilling will start at the Excelsior zone which is proving to be a higher-grade part of the system and will then expand outwards to test the large-scale potential of the project. The results from the Eldorado zone confirm multiple mineralized horizons over a sizable area and we look forward to additional results from the Malco and Excelsior zones which occur along strike, to better understand the potential to expand and possibly join the 3 zones into one larger deposit."

A reverse circulation drill rig has been mobilized to Gold Range and will continue to expand known zones and test new targets within the existing permit areas. A new exploration permit amendment is in progress and once received will allow systematic drill testing of the larger scale exploration potential recently defined over a strike length exceeding 3.2 kilometres and over widths up to 500 metres.

Highlights from reverse circulation drill holes GR21-69 to 78.

Drill Hole	From (m)	To (m)	Width (m)*	Au g/t
GR21-69	0	4.57	4.57	0.2
GR21-69	45.73	48.78	3.05	0.4
GR21-69	60.98	91.46	30.48	0.3
GR21-70	80.79	82.32	1.53	0.2
GR21-71	0	10.67	10.67	0.5
GR21-71	59.45	64.02	4.57	0.3
GR21-71	77.74	86.98	9.24	0.4
GR21-73	12.2	42.68	30.48¹	0.6
including	24.39	30.49	6.1	1.8
GR21-73	57.93	60.98	3.05	0.7
GR21-74	7.62	10.67	3.05	0.1
GR21-74	38.1	39.62	1.52	0.3
GR21-74	105.16	106.68	1.52	0.2
GR21-75	18.29	24.38	6.09	0.2
GR21-75	53.34	57.91	4.57	0.5
GR21-76	68.58	71.63	3.05	0.2
GR21-76	118.87	120.4	1.53	0.3
GR21-76	129.54	132.59	3.05	0.3
GR21-77	12.19	13.72	1.53	0.4
GR21-77	24.38	32	7.62	1.1
GR21-77	64.01	65.53	1.52	0.4
GR21-77	91.44	97.54	6.1	0.3
GR21-77	131.06	140.21	9.15	0.4
GR21-78	83.82	91.44	7.62	0.6
GR21-78	111.25	112.78	1.53	0.3
GR21-78	131.06	137.16	6.1	0.2

*Drill hole intercepts, true widths have not been determined. Grades have not been capped in the averaging. ¹This composite includes 4 unmineralized samples each 1.52m (5 feet) in length.

CANEX Metals Inc., Sunday, June 12, 2022, Press release picture

Figure 1. Drill hole location map along the Excelsior to Eldorado trend for the Gold Range Property.

Figure 2. NW-SE Cross section through the Eldorado Zone showing hole GR21-73. See Figure 1 for section location.

Drilling Summary

Reverse circulation drilling is currently underway at Gold Range and this fourth drill program is expected to exceed 5000 metres of drilling and extend into the fall. Drilling will start at Excelsior, then test priority targets at Malco, Eldorado, and in the northern part of the claim block. Once a pending permit amendment is received CANEX will look to systematically test the larger scale potential of the main mineralized district scale structure at Gold Range which shows potential to contain multiple parallel mineralized zones across a 500 metre width.

Assay results for 18 previously drilled holes are still pending. Of these, 12 are from the southern end of the Excelsior zone, 4 are from the Malco zone, and 2 are from the Central and Lillian zones.

Quality Control

Reverse circulation drill cuttings were collected in numbered cloth sample bags from 5 foot (1.52m) intervals during drilling and were picked up from site and analyzed by Skyline Assayers and Laboratories in Tucson, Arizona (which is ISO/IEC 17025 accredited). A 1000g pulp was prepared and gold was assayed using a 50g fire assay with an atomic absorption finish (method FA-01-50g). Gold samples greater than 5 g/t are redone using a 50g fire assay method with a gravimetric finish (method FA-02 50g). The Company included certified reference standards, blanks, and duplicates in every sample batch and then checked to ensure proper quality assurance and quality control prior to releasing the data.

About Gold Range

The Gold Range project is a new bulk-tonnage oxide-gold target located within an underexplored metamorphic terrain in Northern Arizona. CANEX controls 5 kilometres of strike length along a highly prospective district scale structure where mineralization is being defined through surface sampling, mapping, and reverse circulation drilling. The main exploration target defined by surface work is 3200 metres long by up to 500 metres wide with multiple subparallel exploration targets identified. The target zone remains open along strike under basin cover. Drilling by CANEX has returned strong results including 1 g/t gold over 59.5 metres, 1.6 g/t gold over 35.1 metres, 2.2 g/t gold over 24.4 metres, and 0.3 g/t gold over 62.5 metres.

About Canex Metals

Canex Metals (TSX.V:CANX) is a Canadian junior exploration company with a new gold discovery at the Gold Range Project in Northern Arizona, and high silver and gold mineralization at the Gibson property in British Columbia. CANEX is led by an experienced management team which has made three notable porphyry and bulk tonnage discoveries in North America and is sponsored by Altius Minerals (TSX: ALS) the Company's largest shareholder.

Dr. Shane Ebert P.Geo., is the Qualified Person for Canex Metals and has approved the technical disclosure contained in this news release.

"Shane Ebert",

Shane Ebert, President/Director

For Further Information Contact:
Shane Ebert at 1.250.964.2699 or Jean Pierre Jutras at 1.403.233.2636
Web: https://www.canexmetals.ca

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Canex Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CANEX's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CANEX's filings with the Canadian securities authorities. Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.

SOURCE:Canex Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/704804/CANEX-Intersects-18-gt-Gold-Over-61-Metres-Within-a-Wider-Zone-of-06-gt-Gold-Over-305-Metres-at-the-Eldorado-Zone--Drilling-Resumes-at-Gold-Range

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Drilling Resumes at Gold Range, CANEX Provides Exploration Update

Canex Metals Inc. (TSXV:CANX)(OTC PINK:NOMNF)(FRA:NJM1) ("CANEX" or the "Company") is pleased to announce that reverse circulation drilling has resumed at the Gold Range Project, Arizona, after a scheduled holiday break. The drill is set up at the Excelsior Zone where several new holes have been added to the program to delineate the mineralized zone encountered in hole GR21-57, which intersected 1.0 gt gold over 59.45 metres starting from surface and ending in mineralization (previously released see December 16, 2021 news release). Hole GR21-57 intersected the longest continuous zone of mineralization encountered at Gold Range to date and represents a compelling target for the Company

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Exploration and Expansion Drilling Is Underway at the Gold Range Project, Arizona

Canex Metals Inc. ("CANEX" or the "Company") is pleased to announce that a reverse circulation drill program is underway at the Gold Range Project, Arizona. Three holes have been completed at the Excelsior Zone and a fourth is in progress. The Company plans to drill up to 50 holes during the current drilling program

Dr. Shane Ebert, President of the Company stated, "We are very pleased to have started our third drill program at Gold Range and are excited to follow up our recent bulk tonnage discoveries and work to expand the zones and further test the underexplored mineralized trend that hosts mineralization. With continued success this program could provide a solid foundation for a larger resource definition program".

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PROSPECT RIDGE RESOURCES CONFIRMS ARRANGEMENTS RELATING TO ANNUAL GENERAL MEETING

Prospect Ridge Resources Corp. (the " Company " or " Prospect Ridge ") (CSE: PRR) (OTC: PRRSF) (FRA: OED) wishes to update shareholders on the impact of the strike by the Canadian Union of Postal Workers on the Company's ability to comply with its obligations to deliver to shareholders its financial statements and related disclosure and proxy-related materials in respect of the Company's Annual General Meeting (the " Meeting ") of shareholders scheduled to be held on Friday, December 13, 2024 at 11:00 AM (Pacific Time) at Suite 430, 605 Robson Street, Vancouver, British Columbia .

As a result of the strike, and pursuant to CSA Coordinated Blanket Order 51-931 Temporary Exemption from requirements in National Instrument 51-102 Continuous Disclosure Requirements and National Instrument 54-101 Communication with Beneficial Owners of Securities of a Reporting Issuer to send certain proxy-related materials during a postal strike (the "Blanket Order"), the Company is advising shareholders that:

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Lode Gold: 2024 Year-End Review and 2025 Outlook

Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold " or the "Company") is pleased to provide a year-end update.

Dear Investors,

I am excited to update you on our progress since I took over as CEO less than a year ago, just before Christmas in December 2023. With the support of the board, key shareholders, and the dedicated Lode Gold team, we have raised $6M since March 2024 and completed numerous tasks to reorganize the Company. These efforts have positioned us for future success and growth, and I am grateful for the continued support and confidence you have shown in our vision.

Strategy: Create Two Pure Play Companies to Unlock Value and Attract New Investors

Last year, around this time, I met with bankers to discuss how we plan to unlock value by spinning out the Company's assets to create two pure-play companies. This strategy resonated with many as Lode Gold has key assets situated in highly prospective mining regions in Canada and the United States. This initiative immediately creates two $7M companies from one $7M entity, thereby generating accretive value for shareholders.

Focus on Intrinsic Asset Value vs Market Cap: Do some small-cap stocks outperform large-cap investments in the long run?

Clifford Asness, who played a key role in building Goldman Sachs' Global Alpha before founding AQR, and now manages over $33 billion in assets, published a whitepaper that challenged the Efficient Market Theory. It stipulated that value may be factored into price with large-cap companies, but it may not be the case with small-cap stocks¹. It states that with small or micro-cap stocks, the Less-Efficient-Market Hypothesis often holds. Why? The market is inherently inefficient due to a fragmented shareholder base and a lack of distribution, awareness and liquidity. As such, if capital is patient, investing in a small-cap stock may result in a higher return on investment in the long run compared to a large-cap stock.

In the case of Lode Gold, the intrinsic value, verified with a third-party NI 43-101 technical report, has an NPV USD $370M, yet the market cap trades at a fraction of the real value. Notwithstanding, a planned spin-out transaction valued at an additional $7.65M (pre-money value to current Lode Gold shareholders) has already obtained conditional approval.

This is a value proposition, validated by smart money: strategic investors and institutional shareholders; a total of four own approximately 60%. Intrigued by the potential of this undervalued play, I accepted the challenge of leading its turnaround and growth.

Near-Term: Gold Orogen spin out to unlock value for shareholders

The company has three key orogenic assets, with proven gold endowment.

To unlock value for shareholders; immediately we are spinning out the Canadian assets into a new company, Gold Orogen. Each Lode Gold shareholder will get shares of Gold Orogen; via a tax-efficient spin-out.

Additionally, a $3M raise has been completed at Gold Orogen, based on a $7.65M pre-money valuation. The current valuation for Lode Gold, the parent company, is at $7M. We are topping up with an additional $1.5M to ensure a $4.5M investment program for 2025 at Gold Orogen; as such both the assets in Yukon and NB will be drilled in the upcoming exploration season in the new year. Post-money, Gold Orogen will be at $12M+.

A gold asset on the Mother Lode Belt with MRE: 1 (M&I) + 2 (Inferred) Moz Au and a 2023 PEA: USD $370M (NPV 5%) will remain in the parent co, Lode Gold. Lode Gold intends to pursue a high grade underground mine opportunity. This project sits on 100% privately owned patented land where the mining license was suspended in 1942 due to the war effort.

Spin Out Unlocks Shareholder Value: Confirmed gold endowment and RIRGS on Tombstone Belt

The spin-out will result in the formation of two pure-play companies, each focused on specific areas of exploration in Canada and the US.

Company 1: Spin Co - Gold Orogen

Asset 1:

27 km strike, 99.5 km²in Yukon, prolific Tombstone Belt (Snowline, 3 Aces, Sitka Gold)
Total of four Reduced Intrusive Targets (RIRGS)

Asset 2:

New Brunswick: Created one of the largest land packages (420 km²)
Geological analogue to New Found Gold, Galway, Calibre Mining and Puma-Kinross
Confirmed gold endowment

Company 2: Parent - Lode Gold

Lode Gold is the first company to evaluate this project from an underground perspective.

Brownfield, previously mined at 8 g/t in the 1940's.
4 km strike on the 190 km mineralized Mother Lode Belt: 50,000,000 oz produced
100% owned private and patented land: 3,351 acres, Mariposa County
California: 700 permitted mines; 14 gold
Mine suspended in 1942 due to gold prohibition in WWII
Target: 2 Moz underground 5 g/t Au
Typical Orogenic Deposit with Structural Controls
3 Step-Out Holes hit structure (up to 1,200 m)
2 nearby mines were up to 1,800 m deep at 13 g/t
43,000 m drilled with 23 km of underground workings
11% of the veins (2 of 7 deposits) exploited; mostly in the first 250 m
2023 MRE: 1 Moz (M&I) + 2 Moz (Inferred)
2023 PEA at USD $2,000/oz Au: After-tax NPV (5%) USD $370M, 31% IRR, 11 years LOM
Close to road, rail, power, water

Milestones Achieved in 2024:

1. Executed Spin Out Plan

Received conditional acceptance from the TSXV for the spinout transaction

2. Improved Capital Structure

Lode Gold added two additional key institutional and strategic shareholders
For $3M, a 19.9% strategic joint venture partner with strong technical expertise, was added to the new Spin Co
Tight share structure: 10:1 consolidation. About 40.000,000 shares outstanding for both companies

3. Cleaned Up Balance Sheet

Converted a secured debt holder to be the second-largest shareholder
Repaid shareholder working capital loan
Resolved a legacy lawsuit and eliminated a $1.6M liability

4. Enhanced Value of Assets in Yukon, New Brunswick and California

New Brunswick:
- Created one of the largest land packages in the province, potentially a district play
- Completed comprehensive geophysics and soil sampling to define drill targets
Yukon:
- Identified four RIRGS targets for exploration work in 2025
- Confirmed RIRGS at WIN; high bismuth : gold ratio, gold-bearing sheeted quartz veins, hosted in hornfels

California:
- The first to review the project from an underground perspective
- Completed Geological Model: 11% of the veins exploited, in 2 out of 7 deposits. Most extraction in the first 250 m. 3 step-out holes at depth, mineralized and hit structure, a typical orogenic deposit
- Commissioned NI 43-101 to update the 2023 MRE

5. Strengthening the Lode Gold Team

Enhanced bench strength by adding key personnel to the technical and marketing teams, visit our website to view their full bios (lode-gold.com)
Addition of Martin Stratte, Lode Gold's former Director of the Board, to our Advisory Team. He was previously on the permitting team at Castle Mountain, Equinox Gold (2018-2021). The project was acquired for $200 million in 2018, and it was permitted in 2021

Upcoming Catalysts in 2025

Spin Co: Shareholders get shares of a new company
Drilling to investigate 4 RIRGS reduced intrusive targets in Yukon Tombstone Belt, 200 km from Snowline
Drilling in New Brunswick assets upon systematic exploration: geophysics, soil sampling, mapping, geochemistry
California: Revised NI 43-101 Mineral Resource Estimate (updating 2023 MRE and investigating high grade underground potential)
California: Evaluate reactivating a previous mine, where the license was suspended during WWII

Invest in One Company, Get Shares of Two Companies: Optionality on three key assets

Investing in Lode Gold presents an exciting opportunity for shareholders to benefit from an advanced gold exploration project and a forthcoming spinoff with two high-value assets. This strategic move is aimed at unlocking maximum value for investors, who will gain exposure to three highly prospective gold assets through shares in two separate companies.

Wishing you a season filled with joy and prosperity.

Yours truly,

Wendy T. Chan. CEO & Director

About Lode Gold

Lode Gold (TSXV: LOD) is an exploration and development company with projects in highly prospective and safe mining jurisdictions in Canada and the United States.

In Canada, its Golden Culvert and WIN Projects in Yukon, covering 99.5 km²across a 27-km strike length, are situated in a district-scale, high grade gold mineralized trend within the southern portion of the Tombstone Gold Belt. A total of four RIRGS targets have been confirmed on the property. A NI 43-101 technical report has been completed in May 2024.

In New Brunswick, Lode Gold has created one of the largest land packages with its Acadian Gold JV Co; consisting of an area that spans 420 km² and a 42 km strike. McIntyre Brook covers 111 km²and a 17-km strike in the emerging Appalachian/Iapetus Gold Belt; it is hosted by orogenic rocks of similar age and structure as New Found Gold's Queensway Project. Riley Brook is a 309 km²package covering a 25 km strike of Wapske formation with its numerous felsic units. A NI 43-101 technical report has been completed in August 2024.

In the United States, the Company is advancing its Fremont Gold project. This is a brownfield project with over 43,000 m drilled and 23 km of underground workings. It was previously mined at 8 g/t Au in the 1940's.

Mining was halted in 1942 due the gold prohibition in WWII just as it was ramping up production. Unlike typical brownfield projects that are mined out; only 11% of the veins - in 2 out of 7 deposits have been exploited. The Company is the first owner to investigate an underground high grade mine potential at Fremont.

The project is located on 3,351 acres of private and patented land in Mariposa County. The asset is a 4 km strike on the prolific 190 km Mother Lode Gold Belt, California that produced over 50,000,000 oz of gold and is instrumental in the creation of the towns, the businesses and infrastructure in the 1800s gold rush. It is 1.5 hours from Fresno, California. The property has year-round road access and is close to airports and rail.

Previously, in March 2023 the company completed an NI 43 101 Preliminary Economic Assessment ("PEA"). Project Valuation has an after-tax NPV (5%) of USD $370M at $2000 2 /oz gold, IRR 31% and an 11-year LOM, averaging 118,000 oz per year. At $1,750 /oz gold, NPV (5%) is $217M. The project hosts an NI 43-101 resource of 1.16 Moz at 1.90 g/t Au within 19.0 MT Indicated and 2.02 Moz at 2.22 g/t Au within 28.3 MT Inferred. The MRE evaluates only 1.4 km of the 4 km strike of Fremont property. Three step-out holes at depth (up to 1200 m) hit structure and were mineralized.

All NI 43-101 technical reports are available on the Company's profile on SEDAR+ (www.sedarplus.ca) and the Company's website (www.lode-gold.com).

QUALIFIED PERSON STATEMENT

The scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, Director, BSc (Hons) (Economic Geology - UCT), FAusIMM, and who is a "qualified person" as defined by NI-43-101.

ON BEHALF OF THE COMPANY

Wendy T. Chan, CEO & Director

Information Contact

Winfield Ding
CFO
info@lode-gold.com
+1-416-915-4257

Kevin Shum
Investor Relations
kevin@lode-gold.com
+1 (647) 725-3888 ext. 702

Cautionary Note Related to this News Release and Figures

This news release contains information about adjacent properties on which the Company has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties.

Cautionary Statement Regarding Forward-Looking Information

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the completion of the transaction and the timing thereof, the expected benefits of the transaction to shareholders of the Company, the structure, terms and conditions of the transaction and the execution of a definitive agreement, the timing of submission to the CSE and TSXV, Gold Orogen raising an additional $1,500,000 and the anticipated use of proceeds. Forward-Looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-Looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. These include assumptions regarding, among other things: that the Company and GRM will be able to negotiate the definitive agreement on the terms and within the time frame expected, that the Company and GRM will be able to make submissions to the CSE and TSXV within the time frame expected, that the Company and GRM will be able to obtain shareholder approval for the transaction, that the Company and GRM will be able to obtain necessary third party and regulatory approvals required for the transaction, if completed, that the transaction will provide the expected benefits to the Company and its shareholders.

There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include adverse market conditions, general economic, market or business risks, unanticipated costs, the failure of the Company and GRM to negotiate the definitive agreement on the terms and conditions and within the timeframe expected, the failure of the Company and GRM to make submissions to the CSE and TSXV within the timeframe expected, the failure of the Company and GRM to obtain shareholder approval for the transaction, the failure of the Company and GRM to obtain all necessary approvals for the transaction, and r other risks detailed from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

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RETRANSMISSION: Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") announces that after consultation with its registered finders, the Company has now concluded its non-brokered private placement under Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption. As previously announced on November 13, 2024, the Company sold 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Company had filed an offering document related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com

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Grande Portage Completes Non-Brokered Private Placement

Not for distribution to United States newswire services or for dissemination in the United States.

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Sample	Location	Type*	Au g/t
576601	Excelsior soil anomaly	Grab	0.79
576602	Malco soil anomaly	Grab	29.60
576610	Central-Lillian soil anomaly	Grab	1.15
576617	NE part of claim block	Grab	1.06
576618	NE part of claim block	Grab	0.54
576623	Malco soil anomaly	Grab	5.44
576626	E part of claim block	Grab	66.60
576627	E part of claim block	Grab	1.31
576690	Excelsior soil anomaly	0.7m Chip	0.71
576694	Excelsior soil anomaly	grab	3.87
576696	Excelsior soil anomaly	0.6m Chip	8.06
576697	Excelsior soil anomaly	0.9m Chip	0.14

Drill Hole	Depth	Zone	Feed	Leach	NaCN	CaO	Au Grade	Au Grade	Au
			Mass	K80	Consumption	Consumption	Residue	Calc. Head	Recovery
	ft		g	µm	kg/t	kg/t	g/t	g/t	%
GR21-18	95-100	Eldorado	1000	53	0.2395	0.7320	0.04	3.40	98.8
GR21-19	25-30	Eldorado	1000	55	0.3710	1.2895	0.01	0.19	94.7
GR21-25	180-185	Eldorado	1000	54	0.3003	1.2103	0.06	2.70	97.8
GR21-25	205-210	Eldorado	1000	61	0.2842	0.9028	0.01	0.66	98.5
GR21-30	20-25	Contact	1000	58	0.2963	1.3941	0.04	0.71	94.3
GR21-36	60-65	Excelsior	1000	61	0.2878	1.4559	0.03	0.77	96.1
GR21-36	65-70	Excelsior	1000	63	0.2849	1.2178	0.01	0.63	98.4
GR21-37	50-55	Excelsior	1000	63	0.3243	0.9669	0.03	2.08	98.6

								Average	97.1%

Drill Hole	Depth	Zone	Au Leach Kinetics - % Au recovery
	ft		2 hours	6 hours	24 hours	48 hours
GR21-18	95-100	Eldorado	48.0	85.4	101.4	98.8
GR21-19	25-30	Eldorado	61.4	85.0	100.4	94.7
GR21-25	180-185	Eldorado	67.4	89.8	95.6	97.8
GR21-25	205-210	Eldorado	63.6	91.9	93.9	98.5
GR21-30	20-25	Contact	79.0	80.3	93.4	94.3
GR21-36	60-65	Excelsior	67.3	82.0	91.9	96.1
GR21-36	65-70	Excelsior	59.1	70.8	92.2	98.4
GR21-37	50-55	Excelsior	53.4	70.6	91.0	98.6

1.	At the Meeting, shareholders will be asked to vote on the following matters, all as more particularly described in the Information Circular:
	(i)	to fix the number of directors of the Company at seven;
	(ii)	to elect the seven directors of the Company for the ensuing year;
	(iii)	to re-appoint the Company's auditor for the ensuing year and to authorize the directors of the Company to fix the remuneration to be paid to the auditor;
	(iv)	to re-approve the Company's stock option plan; and
	(v)	to transact such other business as may properly be transacted at the Meeting.

2.	The Company has satisfied all of the conditions to rely, and is relying, on the exemption provided by the Blanket Order from the requirement to send proxy-related materials to its shareholders.

3.	Electronic versions of the Notice of Meeting, Information Circular, the form of Proxy (for registered shareholders), and Voting Instruction Form (for non-objecting beneficial owners) and all other proxy-related materials (collectively, the "Proxy Related Materials"), as applicable
	(i)	have been filed and are available on the SEDAR+ website at www.sedarplus.ca under the Company's profile; and
	(ii)	are posted in a prominent location on the Company's website at https://prospectridgeresources.com/investors/ .

4.	The Company will also provide copies of the applicable Proxy-Related Materials by email to each shareholder who requests same while the strike is ongoing, at no charge. To do so, Shareholders may contact Meredith Eades at meredith.eades@prospectridgeresources.com or by phone at 604-670-7818 to request that a copy of the Proxy-Related Materials be emailed to you.

5.	As the electronic versions of the form of Proxy (for registered shareholders) and Voting Instruction Form (for non-objecting beneficial owners) do not contain control numbers, they cannot be voted online or by phone. These electronic forms must be physically completed, signed, and returned to the Company's transfer agent, Odyssey Trust Company, by:
	(i)	Physical delivery or facsimile (details in the Information Circular);
	(ii)	Email to proxy@odysseytrust.com .

5.	In the alternative:
	(i)	If you are a registered shareholder, you may also contact the Company's Transfer Agent, Odyssey Trust Company, at Direct Dial (all regions): 1-587-885-0960; US & Canada (toll-free): 1-888-290-1175 to verify your identity and obtain instructions and assistance in voting your shares;
	(ii)	If you are a beneficial shareholder, who holds their investment through a brokerage house, depository company or other intermediary, you may also attempt to contact such brokerage house, depository company or other intermediary for instructions and assistance in voting your shares.

CANEX Intersects 1.8 g/t Gold Over 6.1 Metres Within a Wider Zone of 0.6 g/t Gold Over 30.5 Metres at the Eldorado Zone - Drilling Resumes at Gold Range

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