LIMA, Peru, Sept. 22, 2011 /PRNewswire/ -- Portage Resources Inc. through its wholly owned subsidiary Portage Minerals S.A. ("Portage" or the "Company") (POTG-OTCQB) adds new Peruvian administrator of finance as the company moves closer to responsible growth.
The addition of ISABEL FLORES ZARATE as the primary administrator of finance for all operations in Peru is vital to the short and long term success of the company. Isabel has been working with numerous mining companies in Peru over the past years and is well versed and experienced to tackle this important role with the company. Isabel will oversee all check and balances of the company and will also prepare financial statements for the company.
Portage is moving forward at an accelerated pace and plans to start production on its properties in the future. In Peru, all mining companies must report a proper financial statement to SUNAT (governing body) each month, if not, the company can be levied numerous fines and penalties. Mr. Luna and the other management team are extremely busy with the day to day operations in the file and their time and skill set is best suited for said purposes. Isabel Flores Zarate has experience with SUNAT, has prepared financial statements for many years and will be able to communicate with the other company accountants and auditors, thus streamlining all reporting for the company.
Portage Resources Inc. President and CEO stated, "I am very proud to report the addition of Isabel, the reporting to SUNAT is a difficult monthly task that is going to intensify as we move closer to production, Isabel will handle this and other reporting duties in Peru, plus she adds another outside prospective in key financial decisions. The team will have more free time to concentrate on their duties in the field and to continue our mission statement of responsible growth."
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.
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SOURCE Portage Resources Inc.