Portal Resources Ltd.

Portal Resources Ltd.

February 01, 2007 13:58 ET

Portal Defines Two Uranium Exploration Projects in Argentina

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 1, 2007) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to announce the acquisition of two large uranium project areas in the Provinces of Mendoza and Chubut, Argentina. The projects areas, Tiger Uranium in Mendoza Province and Pampa Uranium in Chubut Province were acquired under existing agreements and staking.

The Tiger Uranium project consists of five cateos (claims) covering 26,069 hectares (100 square miles) surrounding the 1000 hectare (4 square miles) Sierra Pintada open pit uranium mine owned by Comision Nacional de Energia Atomica "CNEA". Historically the Sierra Pintada Mine produced 2300 tonnes (5 million lbs) of U3O8 from 1974 through 1986 and has remaining resources of 9200 tonnes (20 million lbs) U3O8. The ore grade of the mine is 0.12 % U3O8 (CNEA Report January 2006). The mine consists of several deposits localized within a shallowly dipping fold structure within a favorable sandstone unit 5 to 20 meters thick of the Los Reyunos Formation. The Tiger Uranium project covers the extensions of this favorable sandstone formation to the south, east and west.

Portal Resources has outlined six target areas based on mapping over a strike length of 20 kilometers. The highest priority target lies near the southern boundary of CNEA's Sierra Pintada claims where close spaced drill holes on approximately 50 meter centers are present within favorable red hemitized magnetite bearing sandstones.

The Pampa Uranium project consists of nine exploration concessions covering 53,969 hectares (208 square miles) in Chubut province located 40 to 80 kilometers southwest of the Cerro Solo uranium deposit owned by CNEA. The Cerro Solo deposit has a resource of 4600 tonnes (10 million pounds) U and 1500 tonnes (3.3 million pounds) of molybdenum at a grade of 0.30 % U and 0.20 % molybdenum (CNEA Report 1997). Uranium mineralization at Cerro Solo is hosted within the Los Adobes Formation in coarse-grained sandstones and conglomerate units representing paleo river channels. The deposit, which lies at a depth of 50 to 70 meters below the surface, was discovered by drilling along strike from two small shallower deposits mined in the 1970's that were associated with radiometric anomalies.

The Pampa Uranium project area covers airborne uranium radiometric anomalies, similar in size and strength to the anomaly associated with the Cerro Solo uranium deposit, in mapped outcrop areas of the same Los Adobes Formation.

"Portal is excited to have been able to assemble these large concession areas with the potential to host important new uranium discoveries," states Bruce Winfield, President of Portal Resources.

Mr. Gary Nordin, P.Geo., British Columbia, is the designated Qualified Person for these projects in accordance with National Instrument 43-101.


Bruce Winfield, President & CEO

This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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