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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., September 07, 2022. PORTOFINO RESOURCES INC. (TSX-V: POR) (OTCQB: PFFOF) (FSE:

POTA) (“Portofino” or the “Company”) wishes to report that all management resolutions proposed in the

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

Wednesday September 7, 2022, 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 Brian Crawford.

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

ensuing year.

iv. The Company's 10% Rolling Stock Option Plan was approved.

v. Disinterested shareholders approved the Modified Equity Incentive Plan which allows Directors

to grant up to 3,500,000 “Award” shares.

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 multiple lithium

projects in Salta, Argentina and up to 100% of the Yergo Lithium property in Catamarca. The properties

are situated in the heart of the world-renown 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 district 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 immediately 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 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, i ncluding 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.