VANCOUVER, April 19, 2013 /CNW/ - Grande Portage Resources
Ltd. (TSXV: GPG) ("Grande Portage" or "the Company") and its joint
venture partner Quaterra Resources Inc. (TSXV: QTA) (NYSE Amex:
QMM) today announce they have filed with SEDAR an amended Canadian
National Instrument 43-101-compliant technical report on the
Herbert Gold Project located near Juneau,
Alaska.
The amended report was prepared by D.G. DuPre & Associates of Delta, British Columbia. It follows the
updated independent resource estimate for the Herbert Gold project
announced in a news release on February 28,
2013, and prepared by D.G.
DuPre & Associates. The technical report includes a
description of the project history, geology, mineralization,
drilling, sampling procedures and laboratory Quality
Assurance/Quality Control procedures, as well as recommendations.
There are no material differences between the technical report
filed on April 12, 2013 and the
amended report filed today. The change relates to
typographical errors, minor omissions in Data Verification (Item
11) as well as minor errors in drilling metreages in the
Interpretations and Conclusions (Item 17) portion of the report.
There are no changes to the mineral resource estimates or
geostatistical analysis in the report and the conclusions and
recommendations remain unchanged.
The qualified persons for the DuPre technical
report are David DuPre and Dr.
David Webb. Mr. DuPre and Dr. Webb
are independent of Grande Portage Resources Ltd. and Quaterra
Resources Inc. and are Qualified Persons as defined by NI 43-101,
and are responsible for the technical content of this press
release.
The complete amended NI43-101-compliant
technical report is available at www.sedar.com and on the
companies' respective websites.
CAUTIONARY NOTES
Mineral resources that are not mineral reserves
do not have demonstrated economic viability. Mineral resource
estimates do not account for mineability, selectivity, mining loss
and dilution. These mineral resource estimates include inferred
mineral resources that are normally considered too speculative
geologically to have economic considerations applied to them that
would enable them to be categorized as mineral reserves. There is
also no certainty that these inferred mineral resources will be
converted to measured and indicated categories through further
drilling, or into mineral reserves, once economic considerations
are applied. The mineral resource estimates referenced in this
press release use the terms "Indicated Mineral Resources" and
"Inferred Mineral Resources". While these terms are defined in and
required by Canadian regulations (under NI 43-101), these terms are
not recognized by the U.S. Securities and Exchange Commission
("SEC"). "Inferred Mineral Resources" have a great amount of
uncertainty as to their existence, and great uncertainty as to
their economic and legal feasibility. The SEC normally only permits
issuers to report mineralization that does not constitute SEC
Industry Guide 7 compliant "reserves" as in-place tonnage and grade
without reference to unit measures. U.S. investors are cautioned
not to assume that any part or all of mineral deposits in these
categories will ever be converted into reserves. Grande Portage
Resources Ltd. is not an SEC registered company.
ON BEHALF OF THE BOARD OF DIRECTORS
________________________________________
Ian Klassen, President
Statements about the Company's future
expectations and all other statements in this press release other
than historical facts are "forward looking statements". Such
forward-looking statements are based on numerous assumptions, and
involve known and unknown risks, uncertainties and other factors,
including risks inherent in mineral exploration and development,
which may cause the actual results, performance, or achievements of
the Company to be materially different from any projected future
results, performance, or achievements expressed or implied by such
forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE
POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE
SOURCE Grande Portage Resources Ltd.