Portage Resources Sign LOI to Acquire Linderos Property

Portage Resources has signed a letter of intent to acquire the Linderos #4 property located in the north part of PACHAPIRIANA between TAMBORAPA and TABACONAS, the project is located in close proximity to the border with Ecuador. Portage Resources Inc. has set a date of on or before Aug.1, 2011 to complete the acquisition of the Linderos #4 property. The time frame allotted will allow Portage Resources Inc. the necessary time to conduct all due diligence on said acquisition A report was conducted in conjunction with INGEMET, (the Peruvian government mining authority). In the area of TABACONES, the project Linderos, prospective studies were conducted for the purpose of evaluating anomalies, geochemistry and locating areas of alteration with favorable hydrothermal for the occurrence of auriferous mineralization. After carrying out these studies, the Peruvian government calculated an approximate amount of 500,000 proven ounces of gold In the area of TABACONAS LINDEROS PROJECT. These studies have been filed in the library of the geologic Institute of Peru.