Mr. Jeffrey Cocks reports

PORTOLA ARRANGES FINANCING

Portola Resources Inc., subject to regulatory approval, is arranging a non-brokered private placement for aggregate gross proceeds of up to $600,000 through the issuance of four million common shares at a price of 15 cents per share.

The company may pay a finder's fee on a portion or the entire private placement in accordance with the policies of the TSX Venture Exchange. Proceeds of the placement will be used for the potential acquisition of new projects and for general working capital.

The private placement is subject to TSX Venture Exchange acceptance.