Portofino Resources Inc. announced it has received reconnaissance grab and channel sample results from its Allison Lake North Lithium Property (the "Property") located 100 kilometres ("km") east of the town of Red Lake in northwestern Ontario. The objective of the fall 2022 reconnaissance program was to initiate sampling on Portofino's newly staked claims near the southwestern contact of the Allison Lake Batholith, as well as additional sampling on the main claim group. The new claims are located just west and proximal to the SJ Pegmatite which is described in a 2003 Ontario Geological report ("Breaks et al") as `economically interesting' rare elements levels (Figure 1). In total, 28 grab samples and 23 select channel samples were collected during the September/October 2022 program, many of those in undocumented pegmatites within metasediments. Values of up to 230 ppm Lithium
("Li") were reported within metasediments adjacent to these undocumented dykes, and up to 622 ppm Rubidium ("Rb") within pegmatite. Of significance were a few Magnesium/Lithium ("Mg/Li") ratios in between 1 and 5 which signify highly evolved pegmatites and are good indications that these pegmatites are likely to be lithium bearing. (Values less than 1, signify lithium-bearing pegmatites- Breaks et al.) (Figure 2). Initial grab and channel samples by Portofino on the Property in 2021 returned up to 398 ppm Li, 90.5 ppm Cesium ("Cs"), 1040 ppm Rb and 135 ppm Tantalum ("Ta") (NR Sept 7, 2021). Follow-up sampling in 2021 returned values up to 412 ppm Li and 857 ppm Rb (NR Jan 14,2022). The Property comprises 7 mining claims totaling 2,288 hectares (ha) in three claim groups and is located 100 kilometers ("km") east of the town of Red Lake in northwestern Ontario. The Property is accessible by well- established logging roads and a hydro-electric power line transects the claim group. The claims were staked to acquire strategically important exploration areas where Lithium and other rare element mineralization targets occurred associated with the Allison Lake batholith. Portofino is earning a 100% interest in the Property. The 2003 Ontario Geological Survey ("Breaks et al") report described the Allison Lake batholith as the largest known peraluminous granitic body in northwestern Ontario. Breaks concluded that, "the Allison Lake batholith represents an important new exploration target for rare-element mineralization and is the largest such granite thus far documented in Ontario. This area has high potential for further discoveries of rare-element mineralization that occur in exocontact, metasedimentary-hosted pegmatites or as internal pegmatites within the parent granite". The Root Bay pluton located about 60 km southeast of the Property is also an S-type peraluminous and is host to the McCombe-Root Bay lithium deposit of 2.3Mt @ 1.3% Li2O (OGS Open File Report 6160). The Root Bay pluton appears genetically linked to the southeast arm of the Allison Lake batholith (Breaks et al.) (Figure 3).