Grande Portage Resources Ltd.
TSX VENTURE : GPG

Grande Portage Resources Ltd.

October 23, 2006 12:17 ET

Grande Portage Resources Announces Assay Results-Increased Potential Along Strike

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 23, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce additional assay results from the diamond drilling program at the Merry Widow Massive Sulphide Project on Vancouver Island, British Columbia.

Specific highlights of the drill results include:



MW06-21: 41.58 metres of 1.99 g/t gold, 30.15 g/t silver, 1.82% copper
- Including 10.80 metres of 3.59 g/t gold, 103.75 g/t silver,
6.13% copper

MW06-22: 40.51 metres of 2.46 g/t gold, 8.75 g/t silver, 0.51% copper
- Including 16.16 metres of 2.67 g/t gold, 17.21 g/t silver,
1.04% copper

MW06-23: 41.01 metres of 2.13 g/t gold, 41.01 g/t silver, 0.67% copper
- Including 13.40 metres of 1.90 g/t gold, 13.40 g/t silver,
1.51% copper


A summary of the drill hole locations and orientations with significant results of gold, silver and copper are displayed below in chart format.

All the drill holes successfully intersected massive sulphide skarn mineralization containing visible pyrrhotite, pyrite and chalcopyrite hosted in either massive magnetite or epidote-garnet-actinolite skarn assemblages.

Alistair MacLennan, CEO remarked, "I am particularly pleased that the results we have posted from the summer campaign are consistently high in gold, silver and copper. With the discovery, along strike, of new surface showings in addition to the findings from our airborne EM survey we will continue to expand the significant potential of our property."

With these last drill hole intersections, the Company has results for the first 23 holes in the vicinity of the past producing Merry Widow open pit. The Company is awaiting a few infill assays from drillholes MW 06-01 to MW06-04. As the programme had continued, it was observed that not all relevant assays occurred strictly within the presence of massive sulphides. Sections within the previously reported for drillholes MW-06-01 to MW06-04 were recognized as possibly carrying important assay values for gold-silver-copper-cobalt and iron and have been sent for analysis. Following receipt of these, a complete table of assay results and intersections will follow.

In total, 2,014 metres were drilled in the open pit area along a strike length of almost 100 metres. The deepest drilled hole went 118 metres at -50 degrees (DDMW-06-15). The massive sulphide mineralization is still open to depth and along strike. Consulting geologists for the Company recently incorporated drillhole sections, previous workings, geology and airborne EM targets using MapInfo. The potential just in the Merry Widow open pit area is in the order of 1.5 kilometres of strike length. Many of the airborne EM targets identified do not appear to have received and historic drilling. A recent property visit by the geologists confirmed massive sulphide mineralization on surface for several of these targets including some with massive cobalt bloom. Geological mapping and sampling of each target will ensure to evaluate the priority for drilling these targets in an upcoming Phase II diamond drilling program.

The drill core was analyzed by ALS Chemex Labs in North Vancouver, BC. The values displayed are weighted averages of the intersected zones and are not true widths, gold and silver values are reported in grams per tonne and copper is measured by percentage.

Note: where reported gold and silver values were less than 0.05 grams per tonne a value of 0.001 grams per tonne was used to calculate the weighted average of the interval reported, conversely if values of copper were below threshold as established by the company then the values were divided by 10,000 and expressed in per cent (%), individual intercepts are assay values over the sample interval as reported.

Note site 7 is located 20 meters east of site 6



DDHMW06-19 site 7
Dip Angle -50 degrees
Azimuth 303 degrees
Total Depth 87.70 meters

--------------------------------------------------------
INTERVAL Gold Silver
FROM TO meters g/tonne g/tonne Copper %
--------------------------------------------------------
63.50 66.78 3.28 7.10 5.67 0.25
--------------------------------------------------------


DDHMW06-20 site 7
Dip Angle -65 degrees
Azimuth 303 degrees
Total Depth 93.57 meters

--------------------------------------------------------
INTERVAL Gold Silver
FROM TO meters g/tonne g/tonne Copper %
--------------------------------------------------------
57.12 58.81 1.69 16.05 8.8 0.27
--------------------------------------------------------


DDHMW06-21 SITE 6
Dip Angle -65 degrees
Azimuth 285 degrees
Total Depth 78.33 meters

--------------------------------------------------------
INTERVAL Gold Silver
FROM TO meters g/tonne g/tonne Copper %
--------------------------------------------------------
21.51 63.09 41.58 1.99 30.15 1.82
--------------------------------------------------------
Includes
--------------------------------------------------------
27.91 38.71 10.80 3.59 103.75 6.13
--------------------------------------------------------


DDHMW06-22 SITE 6
Dip Angle -50 degrees
Azimuth 285 degrees
Total Depth 78.33 meters

--------------------------------------------------------
INTERVAL Gold Silver
FROM TO meters g/tonne g/tonne Copper %
--------------------------------------------------------
23.47 63.98 40.51 2.46 8.75 0.51
--------------------------------------------------------
Includes
--------------------------------------------------------
23.47 39.63 16.16 2.67 17.21 1.04
--------------------------------------------------------


DDHMW06-23 SITE 6
Dip Angle -50 degrees
Azimuth 285 degrees
Total Depth 78.33 meters

--------------------------------------------------------
INTERVAL Gold Silver
FROM TO meters g/tonne g/tonne Copper %
--------------------------------------------------------
25.65 66.66 41.01 2.13 41.01 0.67
--------------------------------------------------------
Includes
--------------------------------------------------------
25.65 39.05 13.40 1.90 13.40 1.51
--------------------------------------------------------


Warren Robb, P. Geo., and George Nicholson, P. Geo., are the qualified persons for this project, and have reviewed and verified the contents of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

Alistair MacLennan, President/CEO

About Grande Portage Resources Ltd.

Grande Portage Resources Ltd. is a mineral exploration and development company focused on massive sulphide exploration in British Columbia. Grande Portage is operated by experienced managers and professionals who have been effective in discovery, mine development, and mining operations throughout North and South America, Africa, Europe, and Central Asia.

Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contact Information