Portal Resources Ltd.

Portal Resources Ltd.

March 09, 2007 12:03 ET

Portal Proposes Amendments to Share Purchase Warrants

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 9, 2007) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to announce that the Company has made application to the TSX Venture Exchange to extend the expiry date and reduce the exercise price of 1,317,500 share purchase warrants that were issued as part of a private placement which closed on May 18, 2006. The Company has requested approval to extend the term of the warrants from May 18, 2007 to November 18, 2007 and to reduce the exercise price from $1.25 per share to $0.80 per share, subject to earlier expiry if the Company's closing share price exceeds $0.96 for ten consecutive trading days.

Portal Resources Ltd. was founded in 2004 and is a precious and base metal exploration company focused on gold/silver and copper/gold assets in Argentina. The company currently controls approximately 800 square miles of mineral rights in two primary project areas. A description of these projects, including maps and photographs, can be viewed on the company's website at www.portalresources.net.


David Hottman, Chairman

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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