Thursday, July 13, 2006 9:21:00 PM
VANCOUVER, BC, March 27, 2006 -- Grande Portage Resources Ltd., (TSX-V "GPG") ("Grande Portage" or "the Company") is pleased to announce that it has entered into an option agreement with Arbutus Resources Ltd. ("Arbutus") to acquire an undivided 100% interest in nine Crown granted claims and one mineral claim located in the Nanaimo Mining Division, B.C., known as the New Merry Widow Property, as well as a separate agreement to acquire three Crown granted claims located in the Rupert District, known as the Kathleen Lake Claims.
Grande Portage now controls approximately 300 square kilometers of land upon which it is preparing to undertake a 1200 line kilometer helicopter airborne VTEM and magnetometer geophysical survey. The Company will also be initiating a Phase I diamond drilling program totaling 4000 meters upon receiving all necessary permits.
The Company can acquire a new 100% interest in the New Merry Widow Property, from Arbutus, by making option payments totaling $75,000 and issuing 275,000 common shares payable in installments over the next four years. Arbutus has also reserved a 2% net smelter return royalty over the New Merry Widow Property which the Company has an option to purchase for $750,000. The Company will also pay Arbutus $25,000 for the Kathleen Lake group of Crown grants.
The above described property acquisitions are subject to the acceptance of the TSX Venture Exchange. As well, the Company wishes to announce that Ian Klassen has been named Vice-President, Corporate Development. Over the past year, Mr. Klassen has been actively assisting the Company in a variety of tasks as a Consultant.
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Alistair MacLennan, President/CEO
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