Portofino Terminates Iron Horse BC Property Option

Vancouver, British Columbia--(Newsfile Corp. - April 26, 2019) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POT) ("Portofino" or the "Company") announces that Rich River Exploration Ltd. ("the Optionor"), and the Company have agreed to terminate the Iron Horse-Bolivar mineral property option agreement. The Company was granted an option to acquire a 100% interest in the property in February 2012 which was originally comprised of seven mineral claims located in the Peachland region of British Columbia.

The Company has focused its activities on its lithium salar properties located within the world-renowned "Lithium Triangle" in Catamarca, Argentina.

Yergo Project, Argentina:

The Company anticipates lab sample results very shortly from its field exploration program at its Yergo lithium brine project, located at the Aparejos Salar in Catamarca, Argentina. The 2,932 Hectares Yergo Project encompasses the entire Salar and is located within 15km of Neo Lithium Corp's advanced 3Q project.

Hombre Muerto West Project, Argentina:

Portofino's geophysical team has completed an initial geophysical survey on the Hombre Muerto West lithium brine project and the Company will report the results upon receipt. The Company has the right to acquire a 100% interest in 2 mineral concessions, that comprise 1,804 Hectares located at the Salar del Hombre Muerto, where Livent Corporation is producing lithium carbonate at their Fenix Operation approximately 15km to the southeast and where Galaxy Resources is currently developing its Sal de Vida project in the eastern part of the Salar.

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 maintains an interest in several prospective lithium salar properties located within the world-renowned "Lithium Triangle" in Catamarca, Argentina.

On Behalf of the Board,

"David G. Tafel"
Chief Executive Officer

For Further Information Contact:
David Tafel
CEO, Director
604-683-1991

Neither the 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.

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.

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