Vancouver - PORTOFINO RESOURCES INC. (POR: TSX-V) (POTA: FSE) ('Portofino' or the 'Company') is pleased to announce it has received encouraging Soil Gas Hydrocarbons ('SGH') Silver-Copper-volcanogenic massive sulfides ('Ag-Cu-VMS')-in-soil results from a focused geochemical survey conducted in October/November at its South of Otter property.

These results compliment the anomalous SGH gold-in-soil results previously announced on January 5th, 2021. The South of Otter property is situated in the Red Lake Gold Camp of northwestern Ontario. It is only 8 kilometres ('km') east of Great Bear Resources Dixie Project (TSXV:GBR) and contiguous to Dixie Gold's Red Lake Gold Project (TSXV:DG). Both Great Bear and Dixie Gold recently announced multiple SGH gold-in-soil anomalies and have utilized the SGH analysis method to successfully vector toward gold exploration targets.

During Phase 1 of the SGH program, Portofino's team completed 168 soil samples over the Yellow Jacket and Cliff Zone gold targets that were previously trenched in 2020. These trench locations resulted in new gold mineralization discoveries on the South of Otter property. Channel and chip sample results from the trenches returned 1.09 grams/tonne ('g/t') gold over 0.58metres ('m') and 0.220 g/t gold over 0.35m respectively (news release September 15th, 2020). Portofino's soil survey covered an area totalling approximately 160,000 square metres in size and the SGH analytical method was successful in outlining Ag-Cu-VMS-in-soil anomalies proximal to the Yellow Jacket Zone.

SGH hydrocarbon signatures detect and analyze hydrocarbon residues produced by the decomposition of naturally occurring bacteria that fed on gold in rock. These residues subsequently migrated to the surface as a flux of different classes of hydrocarbons or decomposition products (ActLabs Report).

About the South of Otter Property

The 5,363 hectares South of Otter Property is contained within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the world-renowned Red Lake gold deposits and includes the outstanding Dixie project currently being drilled by Great Bear Resources Ltd. ('GBR'). Over the past 2 years, GBR has reported company-building drill results with mineralized intersections commonly returning bonanza gold grades in association with coarse visible gold grains. Portofino's South of Otter Property boundary is located approximately 8 km east of GBR's claims.

The Property contains excellent targets for both Red Lake-style gold mineralization as well as gold-bearing base metal prospects. Historical work on the claims includes prospecting, sampling, limited drilling, and airborne geophysical surveys.

About Portofino Resources Inc.

Portofino is a Vancouver-based Canadian company focused on exploring and developing mineral resource projects in the Americas. Its South of Otter and Bruce Lake projects are in the historic gold mining district of Red Lake, Ontario proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd. In addition, Portofino holds three other northwestern Ontario gold projects; the Gold Creek property located immediately south of the historic Shebandowan Nickel-Copper mine, as well as the Sapawe West and Melema West properties located in the rapidly developing Atikokan gold mining camp. The Company also maintains a 100% interest in the Yergo lithium salar property located within the world-renowned 'Lithium Triangle' in Argentina.

Contact:

David Tafel

Tel: 604-683-1991

(C) 2021 Electronic News Publishing, source ENP Newswire