Grande Portage Resources Ltd.
TSX VENTURE : GPG

Grande Portage Resources Ltd.

April 04, 2006 08:00 ET

Grande Portage Resources Ltd. Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce that it has arranged a non-brokered Private Placement for up to 1,000,000 Units at a price of $0.50 per Unit.

Each Unit consists of one common share of the Company and one non-transferable common share purchase warrant (a "Warrant"), each Warrant entitles the purchaser to purchase one additional common share of the Company at an exercise price of $0.60 per share for a period of 24 months from closing. Of the 1,000,000 Units, up to 600,000 Units will be comprised of flow-through shares, and up to 400,000 Units will be comprised of non flow-through shares.

The Warrants will have a forced warrant conversion to the effect that if at any time during the first six months Grande Portage's common shares trade at $1.00 per share or higher for 30 consecutive trading days, then the Company can give notice of such event to the holders and the Warrants must be exercised within 60 days of their receipt of such notice or the Warrants will thereafter expire.

The Company will pay a finder's fee in connection with this financing in accordance with the policies of the TSX Venture Exchange.

The above transaction is subject to the acceptance of the TSX Venture Exchange.

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.

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