LIMA, Peru, June 17, 2011 /PRNewswire/ — Portage Resources Inc. (“Portage” or the “Company”) (POTG-OTCQB) signs letter of intent with Airon Peru SAC and Albroock Gold Peru SA to acquire the Wukakuy properties.

Portage Resources Inc. has set a date on or before Aug. 31, 2011 to complete the acquisition of the Wukakuy properties, The time frame allotted will allow Portage Resources Inc. the necessary time to conduct all due diligence, and research on this acquisition target.

The Wukakuy properties are located in a well known mining zone of Peru. The properties are also close to other major mining companies, one being Glencorp. Glencorp is a major Australian mining company and have purchased the mine know as “Mina Cecilia.”

Portage Resources Inc. President and CEO, Paul Luna added, “We are currently studying the N43-101 report on the property, other geological studies and the incredible potential this acquisition may have for Portage Resources. The potential reserves may be in multi-million ounces of silver, but we must be careful to conclude all due diligence before reaching a final decision on this acquisition.”

About Portage Resources Inc.

Portage Resources Inc. is focused on the exploration and production of precious and base metals in Peru. Portage Resources Inc plans to recognize, and acquire near-term production mining properties. The Portage Resources Inc seasoned and experienced Peruvian management team will research, review and prove any reserves for the purpose of production.

Symbol: OTCQB –POTG

FORWARD-LOOKING STATEMENTS: “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company’s business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company’s business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company’s Securities and Exchange Commission filings under “risk factors” and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.

For more information:
Paul Luna Belfiore
info@portageresourcesinc.com
011 511 7335100

SOURCE Portage Resources Inc.