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Portal Resources Ltd

Publié le 07 avril 2008

Encouraging Results At Cerro Solo Uranium Project

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Portal Resources Ltd.

Monday, April 07, 2008

Encouraging Results At Cerro Solo Uranium Project

Portal Resources Ltd. (TSX Venture Exchange -- Symbol: PDO) is pleased to announce encouraging results from the initial uranium exploration the Company has carried out on three exploration concessions within the San Jorge Basin in Chubut province Argentina. Portal has the right to earn a 60% interest in the concessions under terms of an option agreement with Consolidated Pacific Bay Minerals Ltd.

Mapping and interpretation of satellite imagery defined areas within the concessions that are believed to be underlain by the Los Adobes Formation which, approximately 30 kilometers to the east, hosts the Cerro Solo deposit owned by Compania Nacional de Energia Atomica (CNEA). Cerro Solo is the largest uranium deposit in the San Jorge Basin with an historical resource* of 10 million pounds of U3O8 at a grade of 0.30% and 3.3 million pounds of molybdenum at a grade of 0.20% molybdenum.

Alpha Track surveys were completed in areas of alluvial cover to define zones with anomalous radioactivity reflecting uranium mineralization in the sedimentary sequence at depth. Six of sixty Alpha Track samples collected on 200 meter intervals on 2 lines 4 kilometers apart produced anomalous track etch results. Based on these encouraging results, additional sample lines are being completed with results to be released as they become available.

Additionally, Portal has renegotiated terms of the Cerro Solo option agreement with Consolidated Pacific Bay Minerals Ltd. under which Portal is earning its interest in the project. As significant delays have been encountered in obtaining final approval and registration of the three exploration concessions comprising the project, terms of the agreement have been amended so that both timing of payments (with the exception of the initial payment which was made on signing) as well as work commitments are now tied to the date on which final approval and registration of the concessions are received from the Chubut government.

All work on the Cerro Solo joint venture is carried out by competent geological staff in Argentina under the overall guidance of Portal's VP Exploration, Mr. Alex Boronowski, P.Geo. British Columbia, the designated Qualified Person in accordance with National Instrument 43-101. Mr. Alex Boronowski has reviewed this news release.

* The above resource estimates are historical and do not conform to the standards of National Instrument 43-101. They may vary materially from estimates made in accordance with the classification made pursuant to NI 43-101 and should not be relied upon. The company's qualified person (QP) has not done sufficient work to classify the historical estimate as a current mineral resource and is not treating the historical estimates as current mineral resources as defined in NI 43-101. However, the company's QP believes the historic estimate is relevant and offers a fair description of the project's known mineralization.


"Bruce Winfield"

President & CEO

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs, and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein.

TSX Venture Symbol: PDO
For further information contact:
Dan Gibbons or Bruce Winfield
Telephone: 604-629-1929
Facsimile: 604-629-1930
E-Mail: info@portalresources.net
Web: www.portalresources.net

Portal Resources Ltd

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Portal Res. est une société d’exploration minière d'argent et d'or basée au Canada.

Portal Res. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont BIGWAVE et MANITO au Canada.

Portal Res. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 1,7 millions CA$ (1,7 millions US$, 1,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 1,53 CA$, et son plus bas niveau récent le 23 mars 2012 à 0,03 CA$.

Portal Res. possède 48 746 000 actions en circulation.

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Présentations des Compagnies de Portal Resources Ltd
02/05/2011New Corporate Presentation for Portal
Rapports annuels de Portal Resources Ltd
2007 Annual Report
Financements de Portal Resources Ltd
25/05/2011Completes First Tranche Private Placement
29/04/2011Announces Four Million Dollar Private Placement
18/02/2011Completes Private Placement
23/03/2010Re-Prices Private Placement
27/01/2010Negotiates $1,000,000 Private Placement
14/06/2008Receives Approval To Extend Share Purchase Warrants
07/06/2007Negotiates Four Million Dollar Private Placement
Nominations de Portal Resources Ltd
12/03/2012Appoints John Kanderka to the Board of Directors
17/03/2011Appoints John Byers to Oil & Gas Advisory Board
01/03/2011Appoints John Kanderka to Oil & Gas Advisory Board
25/05/2010Appoints Barry Reid to Oil & Gas Advisory Board
22/03/2010Appoints John M. MacRAe to Oil & Gas Advisory Board
07/08/2008Appoints New President / Ceo
14/03/2008 Appoints New Chief Financial Officer
Projets de Portal Resources Ltd
01/02/2012Announces Closings Of Acquisition And Disposition Of Saskatc...
20/12/2011Announces Amended Acquisition Terms On Saskatchewan Oil And ...
13/09/2011Reports Initial Reserves on Salt Lake Project
09/06/2011Birdbear Oil Project Advances on Time and on Budget
27/05/2009(Arroyo Verde)Terminates Arroyo Verde Option
19/06/2008(La Pampa)Significant Alpha Track Anomaly at Cerro Solo Uranium Projec...
09/05/2008(Tiger Uranium) Expands Tiger Uranium Project
14/04/2008 Receives Permitting for Drilling for its Slick Rock Uranium...
07/04/2008(La Pampa)Encouraging Results At Cerro Solo Uranium Project
17/01/2008Update On Land Acquisition And Permitting On Portal's Slick ...
10/08/2007(Arroyo Verde)Tests Extension of Refugio Molybdenum-Copper Porphyry System
15/06/2007(Arroyo Verde)Drilling Follows Up 4.0 Meters Grading 18.9 g/t Gold and 549...
Communiqués de Presse de Portal Resources Ltd
31/03/2012to Change Name to Galileo Petroleum Ltd. (Symbol: GPL) and C...
27/02/2012Announces Proposed Share Consolidation, Amendment to Authori...
19/01/2012Outlines Acquisition Financing Plan
13/10/2011Adds to Core Area Holdings in West Central Saskatchewan Thro...
12/09/2011Engages Bryan Mills Iradesso to Provide Investor Relations S...
15/08/2011Establishes Oil Production at its Salt Lake Project in Saska...
13/05/2011Launches Five Well Drilling Program at Birdbear Oil Play in ...
28/03/2011Enters Birdbear Oil Play in West Central Saskatchewan
27/05/2010Gary Nordin Appointed to Board of Directors
13/05/2010Corporate Update
04/03/2010Please accept our invitation to meet the Portal Resources te...
12/01/2010Team Identifies New Oil and Gas Opportunities
06/11/2009Gary Nordin Appointed to Oil and Gas Advisory Board
26/08/2009Participates In Oil Drilling
10/06/2009Grants Options
09/06/2009Assigns Option on Nevada Properties
02/06/2009Initiates Project Search In Mexico
06/02/2009Terminates Cerro Solo Option Agreement
09/12/2008Corporate Update
02/09/2008Options Three Properties In Nevada
21/06/2008Terminates Slick Rock Option
05/06/2008Completes Drilling On Slick Rock Uranium Project
25/04/2008Enters Investor Relations Agreement
21/02/2008Progress on Portal Resources' Tropezón Uranium Project
18/10/2007Portal Adds to Land Holdings for Uranium Exploration in Arge...
10/09/2007Progress On Portal Resources' La Pampa Uranium Project
14/08/2007Principal Vein Deep Drill Test
12/07/2007Options Strategic Uranium-Vanadium Exploration Land
24/04/2007Signs Up Cerro Solo Basin Uranium Property
17/04/2007Finds Encouraging Clues In Initial Uranium Exploration On La...
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