SOURCE: Portrush Petroleum Corporation

July 10, 2007 14:28 ET

Portrush Announces Close of Private Placement

VANCOUVER, BC--(Marketwire - July 10, 2007) - Portrush Petroleum Corporation (TSX-V: PSH) (OTCBB: PRRPF) is pleased to announce that it has completed its non-brokered private placement financing and raised a total of C$150,000.

The offering consists of units at C$0.10 per unit. Each unit consists of 1 common share and 1 warrant entitling the holder to purchase one common share of Portrush at an exercise price of C$0.12 for a period of twenty-four months. A finders fee of 7 1/2% will be payable in shares.

All shares and warrants issued from this offering will be subject to a hold period of four months from the date of issuance. The proceeds of the financing will be used to fund the Company's drilling commitments on its various oil and gas projects including the four well Mission River project announced in the Company's May 22, 2007 news release.

About Portrush Petroleum Corporation:

To find out more about Portrush Petroleum Corporation visit our website at www.portrushpetroleum.com.

ON BEHALF OF THE BOARD

Mr. Martin Cotter

President & Director

The TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the information contained in this press release.

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