Portofino Amends Amount of Debt to Be Issued FOR Shares
Suite 520 – 470 Granville Street
Vancouver, BC, CANADA V6C 1V5
Telephone: 604-683-1991
Fax: 604-683-8544
www.portofinoresources.com
PORTOFINO
RESOURCES INC.
NEWS RELEASE
PORTOFINO AMENDS AMOUNT OF DEBT TO BE ISSUED FOR SHARES
Vancouver, B.C., February 03, 2025 – Portofino Resources Inc. (TSX-V: POR) (OTC-Pink: PFFOF) (FSE:
POTA) (“Portofino” or the “ Company”) reports that it executed agreements with various (arms-length)
creditors to settle up to $105,000 in outstanding debt by issuing 10,500,000 common share Units valued
at $0.01 per Unit. (The Company had previously announced a proposal to settle $205,000 in debt for
20,500,000 Units.)
Each Unit comprises 1 share and a ½ warrant; each full warrant will be convertible into 1 share at
$.05/share for 2 years from closing. The share for debt transactions are subject to TSX Venture Exchange
approval.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada-based company focused on exploring and developing mineral resource
projects in the Americas. Portofino holds a 100% interest in the (drill ready) Yergo Lithium Project in
Catamarca and additionally has the option to earn an interest in the Arizaro Lithium Project located in
Salta, Argentina. The projects 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 holds a 100% interest in several exploration projects located within northwestern
Ontario, Canada, including the drill-ready, South of Otter, Red Lake gold project, the Gold Creek, Thunder
Bay project which has been optioned to Delta Resources Limited., and the Allison Lake North project.
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 contains "forward-looking statements" within the meaning of applicable securities laws. All statements
contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-
looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does
not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking
information and forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s
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future business plans. Forward-looking information in this news release is based on certain assumptions and expected future
events, namely the growth and development of the Company’s business as currently anticipated. These statements involve known
and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ
materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the
Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to
update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or
results or otherwise or to explain any material difference between subsequent actual events and such forward-looking
information, except as required by applicable law.