Mr. David Tafel reports

PORTOFINO UPSIZES FINANCING TO $900,000

Due to strong interest, Portofino Resources Inc. has upsized its previously announced private placement financing from $500,000 to $900,000 priced at 10 cents per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant has a term of 36 months commencing on the closing date and entitles the holder to purchase one common share at a price of 15 cents.

Proceeds from the financing shall be used for the buyout of the Yergo lithium project option agreement (see news release dated Aug. 14), initial associated drill permitting activities as well as general working capital. Closing is subject to TSX Venture Exchange approval, and any shares issued will be subject to a four-month hold period.

About Portofino Resources Inc.

Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas. Portofino has an opportunity to earn a majority interest in several lithium projects in Salta, Argentina, and up to 100 per cent of the Yergo lithium project in Catamarca. The properties are situated in the heart of the world-renowned Argentine Lithium Triangle and in close proximity to multiple world-class lithium projects. The company also has the right to earn 100-per-cent interest in three lithium projects in Northwestern Ontario, Canada: Allison Lake North, Greenheart Lake and McNamara Lake.

Additionally, Portofino has a portfolio of six gold projects (two drill ready), located in Northern Ontario (Canada): the South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ont., Canada, proximal to the Dixie gold project discovered by Great Bear Resources (acquired by Kinross Gold in 2022); and Portofino holds three other gold projects, including the Gold Creek property located immediately south of the historic Shebandowan mine.

We seek Safe Harbor.