Vancouver, B.C., September 18, 2018. PORTOFINO RESOURCES INC. (POR: TSX-V) (POT: FSE) ("Portofino" or the "Company") is pleased to announce results from its 2018 exploration/evaluation program on the Rio Grande Sur lithium brine project in Catamarca, Argentina. The exploration program included geological mapping and pit and auger sampling of near-surface saline brines to depths down to 1 meter. In total, 13 sample sites were tested within the project concessions with samples returning values of up to 216 mg/L lithium (Li), and up to 4,185 mg/L potassium (K). All brine samples were analyzed by Alex Stewart Analytical Laboratory in Mendoza, Argentina.
The Company's Rio Grande Sur concessions cover one of the primary water sources for the main Rio Grande salar brines located immediately to the north. The results of the 2018 sampling program indicate that there are locations where Li is being concentrated (up to 216mg/L) on the Property. Of interest to the Company is the presence of Li in spring-sourced surface waters, which indicates that this area may also be a key source of Li for the salar.
The Rio Grande Sur project comprises 3 mineral concessions totaling approximately 8,500 hectares and consolidates the southern extension of the Rio Grande salar in Catamarca. The property is adjacent to the Rio Grande concessions held by LSC Lithium Corp. ("LSC") wherein LSC has reported an initial Mineral Resource estimate*.
David Tafel, Portofino's CEO stated: "The initial due diligence sampling program has been successful in identifying specific areas within the concession to focus the next stage of our exploration which will involve generating drill targets to test the project at depth."
A table of results can be found at the follow link:
*LSC Lithium Corp. "Technical Report on the Salar de Rio Grande Project, Salta Province, Argentina" dated March 28, 2018 and authored by Hains Engineering Company Limited.
The technical content of this news release has been reviewed and approved by Andrew J. Turner, B.Sc., P.Geol. of APEX Geoscience Ltd., who is the Company's Geological Consultant and is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Portofino Resources Inc.
Portofino is a Vancouver-based Canadian company focused on acquiring, exploring and developing mineral resource projects in the Americas. The Company holds interests in over 17,000 hectares covering several prospective lithium salar properties in Catamarca, Argentina.
On Behalf of the Board,
"David G. Tafel"
Chief Executive Officer
For Further Information Contact:
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This news release may contain forward looking statements concerning future operations of Portofino Resources Inc. (the "Company"). All forward-looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.