Portal Resources Ltd.

Portal Resources Ltd.

April 03, 2006 09:52 ET

Portal Resources Negotiates Two Million Dollar Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2006) - Portal Resources Ltd. (TSX VENTURE:PDO) is pleased to announce that it has negotiated a $2,100,000 non-brokered private placement. The placement consists of 2,000,000 units at a price of $1.05 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 $1.25 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.

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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