Announces Appointment of New CFO

PORTOFINO RESOURCES INC.

Suite 200, 551 Howe Street, Vancouver, British Columbia V6C 2C2 Telephone: 604-683-8610, Fax: 604-683-8605 Trading Symbol: POR

ANNOUNCES APPOINTMENT OF NEW CFO

Vancouver, British Columbia, October 4, 2016. Portofino Resources Inc. (the “Company”) wishes to announce the appointment of Jeremy Wright as the Chief Financial Officer of the Company.

Mr. Wright (CPA, CMA) is currently the CEO of Seatrend Strategy Group, and previously spent 6 years in a senior role at Deloitte LLP working with senior management developing strategies and solutions to business issues mainly related to corporate finance, cost and risk management, and governance. Mr. Wright is also a Director of Good Ventures, the Canadian Freestyle Ski Association and Pacific Community Resources Society and a CFO of Centurion Minerals Ltd. Mr. Wright has extensive negotiation training and an honours degree in Environmental Economics from Brock University.

The Company would also like to announce the appointment of Mr. David Tafel, a current director of the Company, as the Chief Executive Officer and Corporate Secretary of the Company. Mr. Robert Coltura has resigned as the President, CEO and interim CFO of the Company, however he will remain a director of Portofino. The Company would like to thank Mr. Coltura for his time and service as an officer of the Company.

ON BEHALF OF THE BOARD

David Tafel, Director

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.