Mr. David Tafel reports

PORTOFINO ARRANGES $500,000 PRIVATE PLACEMENT

Portofino Resources Inc. has arranged a non-brokered private placement financing for $500,000 priced at eight cents per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant shall have a term of 36 months commencing on the closing date and shall entitle the holder to purchase one common share at a price of 12 cents during the term. Closing will be subject to TSX Venture Exchange approval, and any shares issued will be subject to a four-month hold period.

Proceeds from the financing shall be used for exploration activities, including a first phase drill program on the Yergo, Argentina, lithium project, working capital and general corporate activities.

About Portofino Resources Inc.

Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas. Its South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ont., Canada, proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd. In addition, Portofino holds three other Northwestern Ontario gold projects: the Gold Creek property located immediately south of the historic Shebandowan nickel-copper mine, as well as the Sapawe West and Melema West properties located in the rapidly developing Atikokan gold mining camp.

Portofino's green energy projects include the Allison Lake North (Ontario) lithium project, and the Yergo lithium property which encompasses the entire Aparejos salar, located within the world-renowned Lithium Triangle in Argentina.

We seek Safe Harbor.