Vancouver, British Columbia--(Newsfile Corp. - August 10, 2017) - Portofino Resources Inc. (TSXV: POR) ("Portofino" or
the "Company") is pleased to announce that its geological team has completed an initial site visit to one of two lithium brine
salar properties in Catamarca, Argentina subject to a letter agreement ("LOI") previously announced. The site visit objectives were
to undertake a water and brine sampling program sufficient to confirm historical sampling methodology completed previously by
consultants working on behalf of the local concession owner. The sampling was focused on a 1600-hectare (core) area (within Project
1) with historically reported sampling results averaging approximately 263 ppm Lithium.
Project 1 comprises a 30,000-hectare claim block located southwest of the Salar del Hombre Muerto where FMC Lithium is producing
lithium carbonate and Galaxy Resources is developing its Sal de Vida project.
The LOI gives Portofino the right to acquire up to an 85% interest in Project 1, as well as a second lithium brine property,
(Project 2) which is located approximately 10 kilometres ("km") from the Chile border and north of Neo Lithium Corp's 3Q project
and encompasses a 3,950-hectare claim block. A site visit to Project 2 was planned, but had to be postponed due to excessive snow
blocking access roads.
The LOI transaction is subject to completion of due diligence, execution of a definitive agreement and TSX-V exchange
approval.
Historical exploration work commissioned in 2012 by the vendor of both projects included geological mapping, sampling of surface
waters, auger sampling of brines, and compilation of the distribution of Lithium and Potassium grades within the basins. Eight
surface water and 51 auger brine samples were analyzed and results averaged: 257 mg/l of Lithium and 8,710 mg/l of Potassium for
Project 1; 274 mg/l of Lithium and 7,521 mg/l Potassium for Project 2.
The Company and its Qualified Professionals have not verified the historical sample collection methodology or analytical
results, but believe the historical results are relevant. Future work by Portofino, will be required to verify the historical
results.
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew J. Turner, B.Sc., P.Geol. of APEX Geoscience
Ltd., who is the Company's Geological Consultant and is a Qualified Person as defined by National Instrument 43-101, Standards of
Disclosure for Mineral Projects.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada based Company focused on acquiring, exploring and developing mineral resource projects in the
Americas.
On Behalf of the Board,
"David G. Tafel"
Chief Executive Officer
For Further Information Contact:
David Tafel
CEO, Director
604-683-1991
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements concerning future operations of Portofino Resources
Inc. (the "Company"). All forward- looking statements concerning the Company's future plans and operations,
including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and
uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future
performance and that actual performance and exploration and financial results may differ materially from any estimates or
projections.
