Portofino Resources Inc. provided an update to investors on its current and ongoing exploration and corporate activities. The Company submitted a drilling permit application to the Provincial Mining Ministry of Catamarca, Argentina and the approval process has taken much longer than anticipated. The Company's Argentine representatives have however, maintained regular contact with the Ministry and they have recently been advised that a permit will be approved in very short order. The permit will allow the implementation of an inaugural 4-hole drill program within the 100% controlled Yergo Lithium Project in Argentina. A drilling contractor has been engaged and is prepared to mobilize immediately upon receipt of the permit. The 2,932 hectares, Yergo Project encompasses the entire Aparejos Salar, and is located in the southern part of Argentina's world-renowned "Lithium Triangle". Yergo is situated 15 kilometers ("km") southeast of Neo Lithium Corp.'s Third Quarter Project. (In October 2021, Neo Lithium announced it had received a takeover offer for $960 million.) A 2021 geophysical survey and surface geochemical sampling program identified two large, anomalous sub-basins within the Aparejos Salar (NR-April 6, 2021). The survey and sampling results confirmed the presence of lithium-rich brines and the potential volume of the brines within the sub-basins. The initial drill program will focus on the eastern sub-basin which has an irregular surface expression measuring between 1.8km to 2.5km in length by approximately 700 meters ("m") in width with modeled depths of between 44m and 65m. Portofino previously reported values of up to 373 mg/l Lithium that included low impurities. At the end of September its geological team completed a follow-up, systematic channel sampling program on the Allison Lake North Lithium and Rare Elements Property located 100km east of the town of Red Lake in northwestern Ontario (Figure 1). The team expanded Portofino's initial exploration program where encouraging Lithium ("Li") and Tantalum ("Ta") values were discovered (NR-September 7, 2021). Through the expanded program, 35 channel and 11 grab samples were submitted for chemical and mineral analysis. The analytical labs are very backlogged, and Portofino is presently waiting on sample assay results which will be reported as soon as received.