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LALI.V ·

Portofino Grants Stock Options

Share Capital & Compensation

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 GRANTS STOCK OPTIONS

Vancouver, B.C., April 30, 2024. PORTOFINO RESOURCES INC. (TSX -V: POR) (OTCQB: PFFOF)

(FSE: POTA) (“Portofino” or the “Company”) announces that, in accordance with the Company's Share

Option Plan it has granted options to purchase an aggregate of 360,000 common shares of the Company

to certain consultants of the Company. Each Option is exercisable into one Common Share at an exercise

price of $0.05. The Options are subject to certain vesting conditions and expire five years from the grant

date.

About Portofino Resources Inc.

Portofino is a Vancouver, Canada -based company focused on exploring and developing mineral

resource projects in the Americas. Portofino has executed an agreement with Lithium Chile Inc.

to explore and develop the Arizaro Lithium Project located in Salta, Argentina and additionally

maintains a 100% interest in the (drill ready) Yergo Lithium Project in Catamarca. Both projects

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 pegmatite lithium projects and

several gold projects located within northwestern Ontario, Canada.

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 anticipate", 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

events, 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 from those expressed or im plied 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, intentions 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.