Portofino Resources Inc. is pleased to announce it has entered into an Option Assignment Agreement with Falcon Gold Corp. to acquire a 100% interest in the 1,428 hectare Bruce lake property in the Red lake, Ontario gold district. The Property is located only 1.5 kilometres northeast of Great Bear Resources Pakwash Property and about 11 km southeast of Great Bear's famous Dixie Project boundary . Figure 1. General location [...]
Portofino Resources Inc. is pleased to announce the successful completion of its recent field program on the South of Otter project near Red Lake, Ontario. The Company conducted prospecting and geological mapping along strong conductors identified in both the Company's winter electromagnetic ground survey, and by Gold Corp's interpretation of 2001 airborne magnetic data. A total of 32 samples were collected to test [...]
Claims cover newly recognized gold-bearing structure and are contiguous to recently staked Agnico Eagle Mines property Portofino Resources Inc. is pleased to announce it has executed a binding agreement to acquire 6 claims totaling 869 hectares in the Atikokan area of northwestern Ontario. The Melema West Property is located 28 kilometers northeast of the town of Atikokan, Ontario, 5km north of the Quetico Fault and has [...]
Portofino Resources Inc. is pleased to announce it has mobilized its exploration team to its South of Otter Project. The team is at site now and is focusing on the recently discovered geophysical anomalies and outcrops of sulphide mineralization. The work program includes additional prospecting, detailed structural mapping, and outcrop channel sampling based on conductors identified in the Company's Geophysical survey [...]
Claims along strike of the historic Sapawe Gold mine Portofino Resources Inc. is pleased to announce it has executed a binding agreement to acquire 3 claims totaling 1,147 hectares in the Steep Rock Greenstone Belt of northwestern Ontario. The Sapawe West Property is located in McCaul Township 9 kilometers northeast of Atikokan, Ontario. The Property lies within the Steep Rock Greenstone Belt just north of the Quetico [...]
HIGHLIGHTS: Located 60 kilometers west of Thunder Bay, Ontario; Historic drill holes including 2.3 g/t gold over 8 meters with visible gold in core; Historic multi-ounce gold grab samples; and Close to excellent infrastructure including CN railway, hydro lines, and paved highway. Portofino Resources Inc. is pleased to report it has executed a binding option agreement for the right to acquire a 100% interest in the Gold [...]
Portofino Resources Inc. is pleased to report that it has received results from its 19-line kilometer winter geophysical program. The program consisted of a Very-Low Frequency Electromagnetic survey. This survey method is widely used in gold exploration and has been proven effective in delineating geological contacts and mineralized shear zones in the Red Lake Mining Camp and along the Confederation Lake greenstone belt [...]
Portofino Resources Inc. reports that it has been oversubscribed on its previously announced $300,000 non-brokered private placement and closed on $332,500 priced at $0.05/Unit. Portofino insiders subscribed for 2 million units. Each Unit consists of one common share and one 2-year common share purchase warrant. Each whole warrant is exercisable for one Common Share of the Company for a period of 24 months from closing at [...]
Portofino Resources Inc. reports that due to overwhelming interest in its previously announced, oversubscribed $550,000 private placement, the Company announces a $300,000 placement consisting of up to 6 million Units priced at $0.05/Unit. Portofino insiders intend to subscribe for a minimum 2 million units. Each Unit consists of one common share and one 2-year common share purchase warrant. Each whole warrant is [...]
Portofino Resources Inc. reports that it has been oversubscribed on its previously announced $500,000 non-brokered private placement and closed on $550,000 priced at $0.035/Unit. Each Unit consists of one common share and one 2-year common share purchase warrant. Each whole warrant is exercisable for one Common Share of the Company for a period of 24 months from closing at an exercise price of $0.05. Proceeds from this [...]
Portofino Resources Inc. reports that it is amending the pricing of its previously announced non-brokered private placement for up to $500,000 to $0.035/Unit. Each Unit consists of one common share and one 2-year common share purchase warrant. Each whole warrant is exercisable for one Common Share of the Company for a period of 24 months from closing at an exercise price of $0.05. Proceeds from this financing shall be [...]
Portofino Resources Inc. wishes to announce that all management resolutions proposed in the Management Proxy Circular were approved by shareholders at its Annual General Meeting held Tuesday March 31, 2020, including: The number of Directors for the Company was set at three. The three members elected to the Board of Directors include: David G. Tafel, Stephen J. Wilkinson and Kenneth A. Cawkell. Manning Elliott LLP [...]
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