Portage Minerals Inc.

Portage Minerals Inc.

September 01, 2011 19:01 ET

Portage Confirms Tri-Star Minerals Plc has Now Satisfactorily Completed Its Due Diligence Period on the Bald Hill Project

ST. ANDREWS, NEW BRUNSWICK--(Marketwire - Sept. 1, 2011) - Portage Minerals Inc. ("Portage" or the "Company") (CNSX:RKX) confirmed today that TriStar Resources plc ("Tri-Star")(AIM:TSTR:LN) has satisfactorily completed its due diligence period on the Bald Hill antimony project (the "Project"), in furtherance of the June 28th 2011 signed non-binding Letter of Intent to earn up to 50.1% interest in the Project.

Portage is currently in negotiations with Tri-Star in relation to the LOI and an extension to the timing for completion of a binding joint venture agreement.

Further announcements will be made in due course.

About Portage

Portage Minerals Inc. is a mineral exploration corporation exploring for gold in Eastern Canada. Further information about Portage can be accessed on the Company's website at www.portagemineralsinc.com and on the SEDAR website at www.sedar.com. The common shares of Portage are listed on the Canadian National Stock Exchange ("CNSX") as a mining issuer under the trading symbol "RKX".

To receive Company news releases via e-mail, please advise lauren@chfir.com and specify "Portage News" in the subject line.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. This forward-looking information includes, among others, statements regarding the private placement, the joint venture, exploration expenditures and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results of operations or performance. Various assumptions were used in drawing the conclusions or making the forecasts and projections contained in the forward-looking information contained in this press release. Forward-looking information is based on current expectations, estimates and projections that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Portage and described in the forward-looking information contained in this press release. Undue reliance should not be placed on forward- looking information. The forward-looking statements contained in this news release are made as of the date hereof and Portage undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

CNSX does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Portage Minerals Inc.
    Ken Hight
    President and CEO
    (506) 529-8206
    (506) 529-8595 (FAX)

    CHF Investor Relations
    Robin Cook
    Senior Account Manager
    (416) 868-1079 x228
    (416) 868-6198 (FAX)