VANCOUVER, April 12, 2013 /CNW/ - Grande Portage Resources
Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") and its joint
venture partner Quaterra Resources Inc. (TSX-V: QTA, NYSE Amex:
QMM) are pleased to announce that they have filed with SEDAR a
Canadian National Instrument 43-101 compliant technical report on
the Herbert Gold Project located near Juneau, Alaska.
The 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, also prepared by D.G.
DuPre & Associates. The technical report also 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 mineral resource
estimates in the technical report and the February news
release.
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 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
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.