The top two seeds in their respective divisions in the eight-team event were tied 1-1 at the end of regulation in the championship game Saturday at Wellington Street Sports Complex.
Mitchell King scored for Grand Bank at 36 minutes to open the scoring in the final showdown.
Lucas Tulk got the Gander squad on the scoresheet at 56 minutes to force the two sides to penalty kicks to determine a winner.
Brandon Pike, Jordan Head and Daynen Sheehy scored on penalty kicks for the winners.
Richard Kelly and Adam Matthews scored on penalty kicks for Grand Bank on a scorching day on the Victoria Day long weekend in Corner Brook.
The champs finished first in Group A with a perfect 3-0 record compliments of a 2-0 win over the West Side Monarchs, 3-1 win over the Curling Rangers and 3-2 victory over Tactics FC to earn a showdown with the boys from Grand Bank.
Grand Bank earned a berth in the final by virtue of finishing first in Group B with a record of two wins and a tie.
The squad from Grand Bank opened the tournament with a 2-2 stalemate against Roebothan Mckay Marshall FC of St. John’s, but then held the opposition off the scoresheet for two straight games — a 2-0 win over the Corner Brook Under-18s and a 1-0 victory over Stephenville pushing them to the top of the standings in Group B.