LIMA, Peru, Sept. 23, 2011 /PRNewswire/ -- Portage Resources Inc. ("Portage" or the "Company") (POTG-OTCQB) provides a corporate update to their shareholders in regards to Wukakuy, Linderos and Cordillera Negra mining projects.
The company is looking forward to releasing results of the Geophysical Survey at the Wukakuy property, further details will also be available shortly on both the Linderos and Cordillera Negra projects after details from the site visit are compiled.
The company website: www.portageresourcesinc.com has been updated with photographs and more detailed information about the projects.
Portage is benefitting from strong commodity prices. The Wukakuy project alone has a reserve estimate of 58,000,000 oz of Ag valued at over $2,300,000,000 (using 9/20 kitco price of $39.74 per oz of Ag). The entire Tabaconas Linderos project has an estimate of 500,000 oz of Au valued at over $902,000,000 (using 9/20 kitco price of $1804.80 per oz of Au). Portage currently has a definitive agreement for Linderos properties #4 and #5.
The company is making great progress and looks forward to releasing more results as they become available, in addition we the company is constantly looking to acquire additional working high quality mining concessions.
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 www.portageresourcesinc.com
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.
Contact: Financial Insights
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SOURCE Portage Resources Inc.