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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., March 31, 2020. PORTOFINO RESOURCES INC. (POR: TSX-V) (POTA: FSE) (“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 Tuesday March 31,

2020, 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. David Tafel – Chief Executive Officer

Mr. Jeremy Wright - Chief Financial Officer, Secretary

About Portofino Resources Inc.

Portofino is a Vancouver -based Canadian company focused on acquiring, exploring and developing

mineral resource projects. Its South of Otter gold project is located in the historic gold mining district of

Red Lake, Ontario proximal to the Dixie property ow ned by Great Bear Resources Ltd. Great Bear has

recently reported multiple high-grade gold discoveries. The Company also maintains an interest in

prospective lithium salar properties located within the world-renowned “Lithium Triangle” in Argentina.

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 p roject

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 result s may differ

materially from any estimates or projections.