Portofino Resources Inc. (TSXV:POR) executed a Binding Letter of Intent to acquire Yergo Lithium Project, Catamarca Argentina from Zijin Mining Group Company Limited (SEHK:2899) for $0.6 million on August 14, 2023. The Binding LOI ensures all rights and concession ownership for the 2,932 hectare Yergo Lithium Project (the 'Project') are transferred directly to Portofino. Previously, Portofino had the right to acquire up to 100% interest in the Yergo property, as per the original Option Yergo Binding Letter Agreement signed on February 15, 2019, and the Binding Letter Agreement Addendum on May 12, 2021. The Binding LOI terms include concurrent: (i) Removal of the legal injunction granted in the favour of Portofino; (ii) Transfer of all rights and title to the Yergo concessions to Portofino; and (iii) Payment of $0.6 million by Portofino to the concession owner.

Portofino Resources Inc. (TSXV:POR) completed the acquisition of Yergo Lithium Project, Catamarca Argentina from Zijin Mining Group Company Limited (SEHK:2899) on September 25, 2023.