South of Otter Property Overview

Red Lake, Ontario

Property Summary

➢ The South of Otter Property comprises 14 mining claims containing 245 contiguous cell units and covers approximately 5,207 hectares (12,866 acres)

➢ The Property is strategically located just east of Ontario Highway 106 and is serviced by active logging roads with nearby power and natural gas lines.

➢ The claims are contained within the Birch-Uchi-Confederation Lakes greenstone belt which hosts the world-renowned Red Lake high-grade gold mines just 35 km west north west of the Property

➢ The prolific Dixie Project boundary currently being drilled by Great Bear Resources Ltd. (“GBR”) is only 9km west of the South of Otter and the two properties share similar geology and structures.

➢ The South of Otter area is known for its copper and zinc volcanogenic massive sulphide(“VMS”) potential but the recent success of GBR on the Dixie project has opened the possibility for significant gold mineralization

➢ Portofino has so far discovered geophysical anomalies that coincide with gold in soils chemical anomalies, but there has been no drill testing to date of the targets. Portofino intends to test these targets.

Toronto

Ottawa

Thunder Bay

Kenora

South of Otter Property

Regional Location

Red Lake

North Bay

0 150 300

km

N

Northwestern Ontario Precious Metals

South of Otter Property

✓ Northwestern Ontario is home to several world-class mineral districts with major deposits and mines including gold and silver plus a diverse portfolio of metals such as nickel, copper, zinc, platinum and palladium, cobalt and iron.

✓ The Red Lake gold district is recognized as one of the world’s highest grade mining camps and has produced approximately 30 million ounces of gold from 29 gold mines. The Red Lake gold mine is an underground gold mining complex, which is reported to have been in production since 1949, producing 25 million ounces of gold at an average grade of 20 g/t out of the Red Lake and Campbell mines.

✓ Portofino’s South of Otter Property occurs in the same geological belt as Red Lake, located south east of the Red Lake mining camp.

Location and Property Ownership

South of Otter Property5,207 ha.

Local Access

➢ The South of Otter Property is well accessed through a network of logging roads

0 1.25 2.5

km

N

South of Otter Property5,207 ha.

Cochenour Mine

Red Lake Mine

Campbell Mine

Great Bear Dixie Project

BTU Metals TNT Discovery

Mafic to ultra-mafic rocks

Felsic to intermediate volcanic rocks

Mafic to ultra-mafic volcanic rocks

Mafic to intermediate volcanic rocks

Felsic to intermediate volcanic rocks

Metasedimentary rocks

Mafic and ultra-mafic rocks

Gneissic tonalitic suite

Foliated tonalitic suite

Muscovite-bearing granitic rocks

Massive granite to granodiorite

Lithology LegendRed Lake Gold Camp41 Moz. gold in Past

Production and Current Resources

Regional Geology and Structure

West Confederation Greenstone Belt

0 5 10

km

N

DH 1.5% Cu, 6.33% Zn over 3.35m

110,000 tonnes 0.5% Cu, 12.5% Zn

DH 1.4% Cu, 7.34% Zn over 9.5m

100,000 tonnes 1.0% Cu, 10% Zn

DH 0.24% Cu over 4.85m

300,000 tonnes 4% Cu-Zn combined

DH 0.22% Cu, 4.44% over 1.1m

DH 0.96% Cu, 3.22% Zn over 0.36mGrab 479.9 g/t Ag

Mineral Occurrences

N

0 2.5 5

km

The above resources are historical in nature

South of Otter Property

Historical Drilling

➢ The Property has had limited drilling with most of the focus previously on potential VMS deposits.➢ In 2002, Goldcorp conducted exploration drilling in the area while looking for geology similar to the Red Lake mine.➢ Portofino plans to follow up on the historical work and to expand areas shown to be promising from geophysical and geochemical

surveys and newly discovered sulphide occurrences and potentially auriferous quartz veins.

0 1.5 3

km

N

Diamond Drill Hole