Portal Resources to extend warrants issued in May 2006 PIPE

By Laura Lutz

Washington, March 9 - Portal Resources Ltd. announced that it has applied to the TSX Venture Exchange to extend the expiry date and reduce the exercise price of 1,317,500 warrants.

Under the company's plan, the expiration date would be extended to Nov. 18 from May 18. The exercise price would be changed to C$0.80 per share from C$1.25.

The warrants were issued in a C$2,766,750 private placement of units that settled on May 18, 2006.

That placement included 2.635 million units of one share and one half-share warrant.

Based in Vancouver, B.C., Portal is a precious and base metals exploration company. The company's shares gained 4 cents, or 5.33%, to close at C$0.79 on Friday.

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