NEWS RELEASE

2012-03

Monday, February 27, 2012

Portal Announces Proposed Share Consolidation, Amendment to Authorized Share Capital and Name Change

Portal Resources Ltd. (TSX Venture Exchange: PDO) (the "Company") announces that the Company will be seeking shareholder approval to consolidate the Company's common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares or at such lower consolidation ratio as may be required by the TSX Venture Exchange (the "Share Consolidation"). The Company will also be seeking shareholder approval to amend the Company's authorized share capital by eliminating the maximum number of shares that the Company is authorized to issue (the "Authorized Share Capital Amendment").

A special meeting of the shareholders of the Company (the "Meeting") has been set for Friday, March 23, 2012 in order to approve the Share Consolidation and the Authorized Share Capital Amendment.

It is management's view that the Share Consolidation and Authorized Share Capital Amendment will benefit the Company by increasing investor interest, improving trading liquidity and improving the Company's ability to raise additional capital and at a higher price per share.

As at the date hereof, there are an aggregate of 48,745,539 Common Shares issued and outstanding. It is expected that, upon completion of the Share Consolidation, there will be an aggregate of approximately 9,749,107 Common Shares issued and outstanding.

Upon completion of the Share Consolidation, the Company will also change its name to "Galileo Petroleum Ltd." (the "Name Change"). The completion of the Share Consolidation is subject to obtaining the requisite approval of the shareholders at the Meeting and the approval of the TSX Venture Exchange including meeting the minimum distribution requirements. The Name Change will also be subject to the approval of the TSX Venture Exchange.

The Company may, in connection with the Name Change, change its stock symbol. Further information on this will be announced at a later date.

ON BEHALF OF PORTAL RESOURCES LTD.

"David Hottman"

President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact: David Hottman, President & CEO at 403-514-8259 � E-mail: info@portalresources.net
or
Geoffrey Vanderburg, Bryan Mills Iradesso Telephone: 403-503-0144 ext 203 � E-mail: portal@bmir.com

You can also view this News Release on our website at: http://www.portalresources.net/s/News.asp?ReportID=509255

� 2012, Portal Resources Ltd.,
All Rights Reserved.

This email was sent to
.com

Portal Resources Ltd

	EXPLORATION STAGE
	CODE : PDO.V

Follow and Invest

Add Alert	Add to Watchlists	Add to Portfolio	Add Note

Profile Market
Indicators VALUE :
Projects & res.Press
releases Annual
report RISK :
Asset profile Contact Cpy

Portal Res. is a silver and gold exploration company based in Canada.

Portal Res. holds various exploration projects in Canada.

Its main exploration properties are BIGWAVE and MANITO in Canada.

Portal Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.7 millions as of today (US$ 1.7 millions, € 1.3 millions).

Its stock quote reached its highest recent level on December 29, 2006 at CA$ 1.53, and its lowest recent point on March 23, 2012 at CA$ 0.03.

Portal Res. has 48 746 000 shares outstanding.

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.