Portal Resources Ltd.

Portal Resources Ltd.

January 10, 2006 17:12 ET

Portal Resources Increases Private Placement to Two and a Quarter Million Dollars

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2006) - Portal Resources Ltd. (TSX VENTURE:PDO)(FWB:A0CAY2) is pleased to announce that it has increased the previously announced $2,000,000 non-brokered private placement to $2,250,000. The placement consists of 4,500,000 units at a price of $0.50 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 $0.75 for a period of 12 months. Company officers and directors will purchase a portion of the private placement.

The proceeds will be used to advance exploration on Portal Resources' 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. The placement is subject to regulatory approval and is anticipated to close within the following 30 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

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

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