Grande Portage Resources Ltd. Intersects 2.46 metres grading 12.84 g/t gold, 29.21 g/t silver, 4.88% lead and 3.36 % zinc from Quartz Veins at Pass Property



    VANCOUVER, Oct. 15 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG)
("Grande Portage" or "the Company") is pleased to announce that it has
completed 24 NQ-size diamond drill holes totaling 1,569 metres from four drill
setups at its 100% owned gold - silver base metal property near Smithers, B.C.
    The initial drill program was designed to focus on the high-grade
gold-silver bearing polymetallic quartz veins identified by previous operators
and confirmed by the Company's grab samples collected in 2007, where previous
prospecting work had outlined a strike length of almost 1 kilometre. Complete
details of the 2007 prospecting results are reporting in the Company's news
release dated March 3, 2008.
    The primary vein is characterized by strong silicification and sulphide
minerals in variable concentrations including pyrite, chalcopyrite, galena and
sphalerite, from disseminations to massive sulphide. The vein itself pinches
and swells along strike and down dip as evidenced both in the trenches and in
drillhole intersections. Wallrock is strongly silicified with propylitic
(epidote) alteration and disseminated sulphide mineralization.
    Drillhole intersections of the primary quartz vein provided widths from
between 0.23m to 9.93m. In some holes more than one vein was intersected. All
veins and related mineralization occur within a silicified and mineralized
alteration halo extending 1m to 12.46m in total width. The veins and
surrounding alteration are referred to as the vein complex. The sulphide
mineralization associated within the alteration halo occurs as disseminations
and micro veinlets and is a similar assemblage as the primary veins.
    The Phase I drill program tested the vein complex from four drill sites
encompassing over 700 metres of strike length as a series of fan holes across
the strike length of the vein. Three holes, 3, 9 and 18 failed to intersect
the mineralized vein material, and five holes failed to show any significant
mineralization. The initial site locations were selected for ease of set-up
and to maximize strike exposure. All vein intersections reported are near
surface; there was no deep or down dip drill testing of the vein system
completed in this drill phase. Future drilling will require (i) both infill
and down-dip drill testing of the vein complex already tested, (ii) expansion
of the vein strike length to the southwest and northeast, and (iii) sampling
and drill testing of another possibly parallel vein system located near the
top of a ridge and not tested in 2008.
    A complete summary of all drill hole assay intersections is shown in the
table below. All intersections reported are core lengths, not true widths,
though the drill holes were oriented nearly perpendicular to the vein system
and are close to true widths. All core marked for assay was cut in half with a
diamond saw with half shipped for analysis and the remaining half returned to
the core box as a permanent record of the sample interval. In addition
analytical standards were randomly inserted into the sampling as part of the
Company's QA/QC measures. All samples were processed by ALS Chemex at their
facility in North Vancouver. Gold analysis was done by fire assay of a 30-gram
pulp with a gravimetric finish, silver and base metal values were obtained by
ore grade assay methods.

    
    Table 1 - Pass Property 2008 Drill Hole Assay Intercepts (measured
    in metres)

    Hole No       From    To    Length  Au g/t  Ag g/t  Cu %    Pb %   Zn %

    PAS-08-01     42.80  43.68   0.88             2.3

    PAS-08-02  No significant assays
    PAS-08-03  No significant assays,
                failed to intersect vein
    PAS-08-04  No significant assays
    PAS-08-05  No significant assays

    PAS-08-06     33.07  43.00   9.93                    0.03           0.41
    including     41.48  43.00   1.42                    0.52           1.22
                  90.99  91.78   0.79    0.07     6.00   0.28

    PAS-08-07     79.02  80.25   1.23    0.18     5.00   0.31

    PAS-08-08     50.87  53.75   2.88             2.70   0.08
    including     52.12  53.75   1.63                4   0.13

    PAS-08-09  No significant assays,
                failed to intersect vein

    PAS-08-10     24.12  27.47   3.35    1.73    32.81   0.05   2.29    0.49
                  24.90  27.47   2.57    2.09    42.62   0.06   2.98    0.64
                  24.90  25.10   0.20   18.10   364.00   0.07           5.77
                                                        (greater
                                                         than)
                                                           20
    PAS-08-11     16.98  17.75   0.77    1.99    12.00   0.12   0.75    0.43

    PAS-08-12     15.43  17.15   1.72    0.95     0.91
    including     15.43  15.90   0.47    1.51     2.00

    PAS-08-13     18.37  24.50   6.13                    0.04

    PAS-08-14     15.06  18.21   3.15    0.39     0.60   0.03   0.06    0.02
                  15.06  15.71   0.65    1.33     1.00   0.05   0.10    0.04

    PAS-08-15     34.25  38.85   4.60     2.8     3.17   0.04   0.21    0.96
    including     34.25  34.80   0.55    20.8    22.00   0.29   1.66    7.43


    PAS-08-16     24.09  29.48   5.39    0.29     2.26   0.06           0.15
    including     25.36  26.53   1.17    0.81     5.55   0.21           0.28

    PAS-08-17     22.82  27.92   5.10    0.67     5.21   0.10           0.27
    including     22.82  25.05   2.23    1.06     9.34   0.14           0.55
    and including 22.82  23.52   0.70    2.74    21.00   0.38           1.57

    PAS-08-18  No samples taken,
                failed to intersect vein

    PAS-08-19  No significant assays

    PAS-08-20  No significant assays

    PAS-08-21     7.91    9.08   1.17    0.47     2.00   0.03   0.03    0.03

    PAS-08-22    13.01   14.15   1.37                    0.05   0.47    0.03

    PAS-08-23    19.40   21.86   2.46   12.84    29.21          4.88    3.36
                 20.61   21.86   1.25   22.80    42.00          6.92    5.75

    PAS-08-24    11.19   12.19   1.00    0.48
    

    The Company is very pleased by these results for the first ever drill
testing completed on the property and plans a more comprehensive program in
2009. The project's infrastructure is excellent, with a road and power line
passing through the northern portion of the claims within one kilometre of the
area drill tested. A 45 minute drive from the staging area on the Telkwa Pass
road leads to Provincial Highway No.16 at Telkwa, 15 kilometres east of
Smithers, BC.
    The Company would also like to assure shareholders that, during these
uncertain times, it is conserving its significant cash resources and is intent
on fulfilling its corporate mandate of developing an economic mineral deposit.
The Company has a strong balance sheet, with $4.6-million in cash with its
funds secured in short-term, fully liquid bankers' acceptance notes on deposit
with a major Canadian bank. The Company has no debt. Due to the current unrest
in global market conditions, the Company has elected to conserve its treasury.
 The Company has been conserving cash, reducing costs and reducing its field
operations for some time now, and is in a good position to weather the current
downturn in the global capital markets.
    Wesley Raven, P. Geo., VP Exploration, is the qualified person and takes
responsibility for the technical disclosure in this news release.

    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

    -----------------------------------
    Alistair MacLennan, Chairman


    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.

    
    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT 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

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