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Portage Gives Notice on Bald Hill Antimony Project

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ST. ANDREWS, NEW BRUNSWICK--(Marketwire - Oct. 24, 2012) - Portage Minerals Inc. ("Portage") (CNSX:RKX) today announced that while it will continue to work with Global Antimony Corp. ("Global Antimony") to reach a definitive agreement regarding the Bald Hill Antimony Project, it has given notice to Global Antimony that Portage has ended the exclusivity arrangement under the non-binding letter of intent announced on May 25th 2012. Portage is now able to investigate potential transactions with other interested investors.

Portage Minerals Inc. is a mineral exploration corporation exploring for gold in Eastern Canada. Further information about Portage can be accessed on the Company's website at www.portagemineralsinc.com and on the SEDAR website at www.sedar.com. The common shares of Portage trade on the Canadian National Stock Exchange ("CNSX") as a mining issuer under the trading symbol "RKX".

To receive Company news releases via e-mail, please advise robin@chfir.com and specify "Portage News" in the subject line.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof and Portage undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

FOR FURTHER INFORMATION PLEASE CONTACT:
Portage Minerals Inc.
Ken Hight
President and CEO
(506) 529-8206
(506) 529-8595 (FAX)


CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079 x228
(416) 868-6198 (FAX)
robin@chfir.com

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