Portal Resources Ltd.
TSX VENTURE : PDO

Portal Resources Ltd.

July 06, 2007 14:37 ET

Portal Resources Increases Private Placement to 5.1 Million Dollars

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 6, 2007) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to announce that it has increased the previously announced $4,550,000 non-brokered private placement (News Release issued July 5, 2007) to $5.1 Million. The placement consists of 7,892,000 units at a price of $0.65 per unit. Each unit consists of one common share and a one-half share purchase warrant. Each whole share purchase warrant will be exercisable for one common share at a price of $0.85 for a period of 12 months.

The proceeds will be used to advance exploration on Portal Resources' uranium, gold/silver and copper/gold exploration projects in Argentina and for general working capital purposes. A seven percent finder's fee will be paid on a portion of the placement in cash or units. The placement is subject to regulatory approval and is anticipated to close within the following 10 days.

Portal Resources Ltd. was founded in 2004 and is a natural resource company, based in Vancouver and focused on the exploration and development of high potential uranium, gold-silver and copper-gold projects in Argentina. The company currently controls over 1,300 square miles of mineral rights in three primary project areas. A description of these projects, including maps and photographs can be viewed on the company's website at www.portalresources.net.

ON BEHALF OF PORTAL RESOURCES LTD.

David Hottman, Chairman

No securities regulatory authority or stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Contact Information