Portofino Executes Binding Agreement Pursuant to the RIO Grande SUR Lithium Brine Project IN Catamarca, Argentina
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 EXECUTES BINDING AGREEMENT PURSUANT TO THE RIO GRANDE SUR LITHIUM
BRINE PROJECT IN CATAMARCA, ARGENTINA
Vancouver, B.C., November 20, 2017. PORTOFINO RESOURCES INC. (POR: TSX-V) (POT: FSE)
(“Portofino” or the “Company”) is pleased to announce that it has executed a binding agreement with a
private Argentine concession owner to acquire a 100% interest in the Rio Grande Sur lithium brine salar
project in Catamarca, Argentina.
The concession area comprises approximately 8,500 hectares, and consolidates the southern extension
of the Rio Grande salar in Catamarca. The property is adjacent to the Rio Grande concessions held by
LSC Lithium Corp. (“LSC”) and Enirgi Group Corp. (“Enirgi”). LSC has reported historical lithium
concentrations at surface of up to 420 mg/l lithium* with recent sampling work confirming a prior
surface sampling program completed by Enirgi. Additionally, the Rio Grande salar has been a significant
past producer of sodium sulfate and several small producers continue to operate in the area.
To acquire a 100% interest in the properties, Portofino has agreed to make annual escalating payments
to the vendor over a four-year period totalling US$780,000 and 840,000 common shares as follows:
a) US$40,000 on signing, and 120,000 shares upon TSX-V Exchange approval,
b) By the 1st anniversary of approval, pay US$80,000 and 160,000 shares,
c) By the 2nd anniversary of approval, pay US$120,000 and 160,000 shares,
d) By the 3rd anniversary of approval, pay US$240,000 and 400,000 shares,
e) By the 4th anniversary, pay US$300,000.
* LSC Lithium NI 43-101 Report, “Review of Four Lithium Exploration Properties in Argentina” prepared for LSC
Lithium Inc. and dated January 27, 2017. Note-Portofino is not aware of any historical work completed on the Rio
Grande Sur concession area and the historical Li-brine results achieved on the adjacent Rio Grande Property of LSC
are not necessarily indicative of any mineralization on Rio Grande Sur.
Qualified Person
The technical content of this news release has been reviewed and approved by Andrew J. Turner, B.Sc.,
P.Geol. of APEX Geoscience Ltd., who is the Company’s Geological Consultant and is a Qualified Person as
defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada based Company focused on acquiring, exploring and developing
mineral resource projects in the Americas. The Company has recently executed agreements pursuant to
several prospective lithium salar properties in Catamarca, 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 th e 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 a nd exploration and financial results may differ
materially from any estimates or projections.