Portofino Announces $500,000 Financing
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 ANNOUNCES $500,000 FINANCING
Vancouver, B.C., August 15 , 202 3. PORTOFINO RESOURCES INC. (TSX -V: POR) (OTCQB: PFFOF) (FSE:
POTA) (“Portofino” or the “Company”) wishes to announce that it has arranged a “ fully committed”
non-brokered private placement financing for $500,000 priced at $0. 10 per Unit. Each Unit will consist
of one common share and one share purchase warrant. Each Warrant has a term of 36 months
commencing on the Closing Date and entitle s the holder to purchase one common share at a price of
$0.15.
Proceeds from the financing will be allocated to the buyout of the Yergo Lithium Project (the “Project”)
option agreement (POR News Release 14-AUG-2023) and implementing the planned drilling program, as
well as general working capital. Closing will be subject to TSXV Exchange approval, and any shares issued
will be subject to a four-month hold period.
About Portofino Resources Inc.
Portofino is a Vancouver -based Canadian company focused on exploring and developing mineral
resource projects in the Americas. Portofino has an opportunity to earn a majority interest in several
lithium projects in Salta, Argentina and up to 100% of the Yergo Lithium property in Ca tamarca. The
properties 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 has the right to earn 100% interest
in three northwestern Ontario, Canada lithium projects: Allison Lake North, Greenheart Lake and
McNamara Lake.
Portofino’s South of Otter and Bruce Lake projects are in the historic gold mining distric t of Red Lake,
Ontario, Canada proximal to the Dixie gold project discovered by Great Bear Resources and now owned
by Kinross Gold Corp. In addition, Portofino holds three other northwestern Ontario gold projects; the
Gold Creek property located immediatel y south of the historic Shebandowan mine, as well as the
Sapawe West and Melema West properties located in the rapidly developing Atikokan gold mining
camp.
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 ant icipate", 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 future
business plans. Forward -looking information in this news release is based on certain assumptions and expected
future eve nts, 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 f rom 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, intent ions 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.