Portage Minerals Inc C.RKX

I am still hanging in.

[Coaltrain]

This is just a little know project, that needs recognition

St Andrews, New Brunswick, Canada, August 24, 2011 – Portage Minerals Inc. (“Portage”) today announced

the results of the initial resource estimate and project highlights on the Golden Pike property (the “Golden Pike

Property"). The NI 43-101 compliant mineral resource estimate and technical report on the Golden Pike Property

were completed by Roscoe Postle Associates Inc. (“RPA”). The Golden Pike Property, comprising 1600 hectares,

is located 60 kilometres southeast of the City of Fredericton in Kings County, New Brunswick. The Golden Pike

Property is owned 100% by Portage and is subject to a 2.0% net smelter return (“NSR”). Portage can purchase

half of the NSR (1%) for $500,000 per 0.5% NSR increments.

HIGHLIGHTS OF THE RPA TECHNICAL REPORT-GOLDEN RIDGE PROPERTY:

?hThe South Trend mineral resource estimate contains an Inferred Mineral Resource of 214,800

tonnes at a grade of 9.60 g/t gold (capped) yielding 66,300 ounces of gold. The mineral resource is

located within a 600 m segment of the South Trend and remains open in both directions.

?hIn addition to the resource, RPA outlines a potential tonnage and grade of additional

mineralization located immediately along strike from the South Trend resource could be in the

150,000 tonnes to 350,000 tonnes grading between 7.0 g/t Au and 10 g/t Au. This is preliminary in

nature and further work is required before this can be considered a resource.

?hSignificant drill intercepts (core widths and all uncapped gold averages) include 43.07 g/t Au over

13.00 m, 32.26 g/t Au over 10.06 m and 8.08 g/t Au over 7.72 m from the South Trend.

?hRPA is of the opinion that Portage’s Golden Pike Property hosts a gold mineralized system with

potential to increase the resource base and warrants additional exploration, particularly drilling.

?hProperty wide exploration has identified numerous other high-potential targets which demonstrate

the larger scale potential of the project. Areas of particular interest include gold in soil geochemical

anomalies and areas with induced polarization (IP) signatures similar to those of the mineralized

zones.

Roger Dahn, Vice President - Exploration, stated, “The property hosts a significant gold target with excellent

potential to significantly increase the resource base on the South Trend. As well, our initial drill hole on the North

Trend identified extensive gold bearing alteration. Untested high priority target along the extensions of these

mineralized trends which are up to 5 km length, have yet to be drill tested and hold promise for near term resource

additions.”

The Company controls an approximate 10 km x 40 km land position (100% owned) surrounding the Golden Pike

project and Bald Hill Sb-Au discovery (Portage Minerals Inc. press release dated November 10, 2010) within the

prospective Annidale Gold Belt.