Mr. Matthew Bassett reports

PORTEX ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Portex Minerals Inc. intends to undertake a private placement to raise up to $750,000 through the issuance of 7.5 million units at a price of 10 cents per unit. Each unit comprises one common share and one common share purchase warrant, entitling the holder to acquire one Portex common share at an exercise price of 10 cents for a period of 24 months from the date of issuance. The company may pay finders' fees in connection with this offering and in compliance with regulatory requirements.

Portex intends to use the proceeds of this offering to finance the previously announced acquisition of Walker Norris Capital Partners III, doing business as Direct Metals Recycling (see press release dated June 25, 2015) and for general corporate purposes.

All securities issued in connection with the private placement will be subject to a four-month hold period under applicable securities legislation.

We seek Safe Harbor.