Grande Portage Resources Ltd. Acquires Equity Position in Nexstar Energy Ltd.



    VANCOUVER, Sept. 11 /CNW/ - Grande Portage Resources Ltd. (TSX-V "GPG")
("Grande Portage" or "the Company") is pleased to announce that it has
acquired from an arm's length seller 10,000,000 free trading common shares in
Nexstar Energy Ltd. ("Nexstar") (TSX-V "NXE.A") at a price of $0.15 per share
for an aggregate investment of $1.5 million. These shares represent about 11%
of the current total issued common shares of Nexstar, or about 7.7% on a fully
diluted basis. Grande Portage will hold the shares for investment purposes.
    The investment of these funds in Nexstar is in accordance with Grande
Portage's plan to invest in advanced staged exploration/development projects.
    Nexstar Energy is an emerging junior oil company focused on the drilling
of multi-zone light sweet crude oil prospects in its core areas of west and
central Alberta. Nexstar currently holds an inventory in excess of 40 Cardium
light oil drilling locations in the Pembina area with working interests
varying between 20.68% and 60.00%. Nexstar's current objective is to achieve
organic production growth and enhance shareholder value through the drilling
and completion of multiple horizontal wells. To date, the Company has
successfully completed its first two horizontal wells.

    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. The Company is well
financed with no debt. More information is available online at
www.grandeportage.com.

    
    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 SERVICES PROVIDER
    (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE)
       ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS
                                   RELEASE.
    





For further information:

For further information: Mr. Ian Klassen, Phone: (604) 899-0106, Email:
ian@grandeportage.com, Website: www.grandeportage.com

Organization Profile

Grande Portage Resources Ltd.

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