Portal Resources Ltd.

Portal Resources Ltd.

July 05, 2005 09:15 ET

Portal Resources Continues to Intercept High Grade in Arroyo Verde Drill Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 5, 2005) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to report assay results from an additional four drill holes in the Principal Vein at its Arroyo Verde project in Chubut Province, Patagonia, Argentina.

A total of six holes were drilled on the Principal Vein, which strikes east/west and dips steeply to the south. It has been defined by surface chip and channel sampling along a strike length of 400 meters averaging 10 grams per tonne gold equivalent over an average width of 2 meters (silver:gold ratio 60:1). Previous reverse circulation drilling has tested the vein to a maximum depth of only 25-50 meters. Diamond drilling has now tested the vein system to a depth of 100-125 meters where it remains open to depth and is open to the east along an additional potential 300-400 meter strike length.

A summary of the drill hole intersections follows starting with Hole PO 36 at the western end of the surface exposure of the Principal Vein and moving to the east. All holes were drilled at a -65 degree inclination to the North.

Hole PO 36 was drilled at the western end of the Principal Vein; Hole PO 37 was drilled 100 meters to the east; Hole PO 38(i) was drilled a further 100 meters to the east; Hole PO 39(i) was drilled 65 meters to the east of Hole PO 38; Hole PO 40 was drilled a further 150 meters east; Hole PO 41 was drilled 80 meters further to the east where the zone remains open along a potential 300-400 meter strike length.

Hole # Intercept Gold Silver Gold (equivalent)
From - To (meters) (g/tonne) (g/tonne) (g/tonne)

PO 36 136 - 137 1 14.12 499 22.44

PO37 112 - 115 3 5.51 151 8.03
Incl. 113 - 115 2 7.75 215 11.34

PO38(i) 126 - 130 4 4.84 202 8.21

PO39(i) 108 - 110 2 39.79 2727 80.25
Incl. 108 - 109 1 78.17 4712 156.70

PO40 158 - 159.8 0.80 4.00 17 4.28

PO41 64 - 66.1 2.10 7.03 50 7.87
Incl. 64 - 65.75 1.75 8.23 55 9.16

(i) indicates previously announced assay data

Note that the length of the intersections listed above represent the apparent thickness of the veins as measured along the core axis. The true width of the veins is approximately 70% of the apparent widths referred to above.

A total of six drill holes have now tested the Principal Vein along a total strike length of 400 meters to a depth of 100 to 120 meters below surface. Portal is very encouraged by the fact that five of the six drill holes have intersected a strongly mineralized multi-phase epithermal quartz vein with drill intersections of 1-4 meters (average 2.2 meters) grading 7.03-80.25 grams per tonne gold equivalent (weighted average 13 grams gold equivalent calculated cutting very high assay results to 36 grams gold equivalent).

Significantly, this strongly mineralized zone is open both along strike to the east as well as to depth. Immediately to the east of the defined 400 meter strike length, hole PO 41 intersected good grade mineralization (7.03 grams gold equivalent over 2.1 meters including 9.16 grams gold equivalent over 1.75 meters) within a zone of veining in the hanging wall of a 5-10 meter wide quartz hematite breccia vein indicating a possible 400 meter extension to the east of the defined mineralized system. Finally the strongly mineralized zone remains open below 100-120 meters vertically below surface, the deepest level of drilling to date.

The drill program is continuing with an additional 4 holes now completed on the North West Vein area and 1 hole completed in the covered South Dome area. Additional results will be released on receipt of assays.

The sampling procedure is to saw the HQ core with half bagged, sealed, and stored on site for later analysis, retaining half for reference. Samples for analysis are collected from the site by Alex Stewart Argentina S.A., a subsidiary of the international laboratory Alex Stewart (Assayers) Limited and transported to their laboratory in Mendoza. Samples are analyzed by fire assay for gold and silver, and ICP for trace elements. All work on the project is under the direction of Mr. Gary Nordin P.Geo. British Columbia, the designated Qualified Person for the Arroyo Verde project in accordance with National Instrument 43-101.

Portal Resources is very pleased with these initial very encouraging results of the ongoing drill program which to date has outlined a strongly mineralized epithermal vein along a strike of 400 meters open on strike to the east and to depth below 120 meters associated with a highly silicified and altered rhyolite dome complex, a very favorable geological environment for hosting ore deposits.


Bruce Winfield, President & CEO

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