Mr. Rodney Campbell reports

PORTOFINO ANNOUNCES SOUTH OF OTTER EAST & WEST EXTENSION PROPERTY AGREEMENT

The approximately 173 claim cells associated with the east and west sections of the South of Otter project, held indirectly by Portofino Resources Inc., expired on March 4, 2026. The cells expired as a result of the company having insufficient capital to allocate toward exploration activity required by the Ministry of Mines and Northern Development for the Province of Ontario.

Subsequent, to the expiry date, the company entered into a property option agreement with an arm's-length party that staked the expired cells along with additional contiguous cells, totalling approximately 180 cells.

Transaction summary

To earn a 100-per-cent interest, Portofino has agreed to issue six million common shares upon TSX Venture Exchange approval and to make cash payments totalling $90,000. Payments will occur over a three-year period in accordance with the following schedule:

• $15,000 cash (paid) and issue thre emillion common shares of the company upon TSX-V regulatory approval;
• $18,000 cash payment by the first anniversary of the agreement's effective date and issue three million common shares of the company;
• $25,000 cash payment by the second anniversary of the agreement's effective date;
• $32,000 cash payment by the third anniversary of the agreement's effective date.

Subsequent to Portofino acquiring its 100-per-cent interest, the vendor will retain a 1.5-per-cent net smelter return (NSR) royalty. Portofino will have the right to purchase a 0.5-per-cent NSR royalty at any time for a payment of $500,000.

About Portofino Resources Inc.

Portofino is a Vancouver, Canada-based company focused on exploring and developing mineral resource projects in the Americas. Portofino holds a 100-per-cent interest in the (drill-ready) Yergo lithium project in Catamarca, Argentina, situated in the heart of the world-renowned Argentinian Lithium Triangle. The company also holds a 100-per-cent interest in two gold exploration projects located within Northwestern Ontario, Canada, including the drill-ready South of Otter gold project in Red Lake and the Gold Creek project in Thunder Bay, which has been optioned to Delta Resources Ltd.

We seek Safe Harbor.