Portal Resources Ltd. (TSX-V: PDO)is a natural resource company focused on the exploration and development of high potential uranium, gold-silver and molybdenum-copper projects in Argentina. Portal also aggressively searches for new high potential projects in other South American countries, the western United States and Canada.
Portal's cohesive, successful management team includes founders/directors/builders of Bema Gold, Eldorado Gold and Nevada Pacific Gold.
Portal has a portfolio of high-potential projects, a tight share structure, no debt and cash in the treasury for operating costs and exploration programs through 2008.
Currently, Portal has three large land positions in Argentina.
PROJECTS and EXPLORATION PLANS, 2008
Arroyo Verde project, Chubut province, Argentina: Portal is planning to conduct a resource calculation on the high-grade gold silver Principal Vein which averages 10g/t gold equivalent on surface over a 2 meter width and 13.18g/t gold equivalent over a 1.87 meter width in drill intercepts.** Portal is completing a 43-101 compliant resource calculation of the Principal Vein's gold-silver and is also looking at candidates with whom to joint venture this project.
At Refugio-Porvenir, (a grass roots discovery, by the Portal team, of a large 7km x 4km molybdenum-copper porphyry system), Portal is seeking a Joint Venture partner to advance the project.
The La Pampa uranium project, in Chubut province, Argentina, consists of 430 sq. miles that is within 40 -- 80 kilometers of CNEA's Cerro Solo deposit, which has a contained resource of 10 million pounds of uranium and 3.3 million pounds of molybdenum.*
UPDATE: Portal has received encouraging results at Cerro Solo Uranium Project.
Alpha Track surveys were completed in areas of alluvial cover to define zones with anomalous radioactivity reflecting uranium mineralization in the sedimentary sequence at depth... Based on these encouraging results, additional sample lines are being completed with results to be released as they become available.
Tiger Uranium project in Mendoza, Argentina, consists of 174 square miles ( 45,000 hectares ) and surrounds the 4 square mile ( 1000 hectare ) Sierra Pintada open pit mine area owned by the Argentinean government ( Atomic Energy Commission of Argentina or CNEA ). The Sierra Pintada mine has a remaining resource* of 20 million pounds of contained U308, having produced 5 million pounds from 1979 to 1997. Portal recently expanded Tiger to it's present size from 5 claims and 101 square miles ( 26,000 hectares ) - please see news release 08-07, Thursday, May 8, 2008.
Portal has identified 6 high-potential target areas and has applied for permits for an anticipated 50 drill-hole, 7,500 meter program planned for early 2008.
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Full descriptions of properties, including graphics, are available at www.portalresources.net.
The Directors and Management of Portal have been instrumental in the discovery and/or development of some 12 million oz of gold, seven operating gold mines and the raising of approximately Cdn$300 million in venture capital financing.
* Note: this is a historical resource and is not compliant with NI 43-101.
**Gold equivalent is calculated using a gold: silver ratio of 1:60 and assuming that all recoveries and smelter returns are to be 100%.
Portal Resources Ltd. #750 -- 625 Howe St. Vancouver, BC, Canada V6J 3K3
Dan Gibbons 604.629.1929
