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LALI.V ·

Portofino Announces Agm Results

Shareholder Meetings

Suite 520 – 470 Granville Street

Vancouver, BC, CANADA V6C 1V5

Telephone: 604-683-1991

Fax: 604-683-8544

www.portofinoresources.com

[email protected]

PORTOFINO

RESOURCES INC.

NEWS RELEASE

PORTOFINO ANNOUNCES AGM RESULTS

Vancouver, B.C., January 10, 2017. Portofino Resources Inc. (POR: TSX-V (“Portofino”, or

the “Company”) wishes to announce that all management resolutions proposed in the Management

Proxy Circular were approved by shareholders at its Annual General Meeting (“AGM”) held

January 10, 2017, including:

i. The number of Directors for the Company was set at three.

ii. The three members elected to the Board of Directors include: David G. Tafel, Stephen J.

Wilkinson and Kenneth A. Cawkell.

iii. Manning Elliott LLP, Chartered Accountants, was re-appointed as auditor of the Company

for the ensuing year.

iv. The Company's Stock Option Plan was ratified.

Subsequent to the AGM, the Board of Directors re-appointed the following officers:

Mr. Stephen Wilkinson- Chairman of the Board

Mr. David Tafel - CEO & Secretary,

Mr. Jeremy Wright - Chief Financial Officer

On Behalf of the Board,

“David G. Tafel”

Chief Executive Officer

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.

For Further Information, Contact:

David Tafel

604-683-1991

This news release contains 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.