Ken Hight, Chairman and Chief Executive Officer of Portage, was quoted as saying “We are redeploying the cash we received from the disposition of our interest in the Clarence Stream Gold Project into our exploration program at our wholly-owned primary exploration sites, Golden Pike/Annidale Properties, without further diluting our shareholders.”

Highlights from the last drill campaign at Golden Pike (new release dated February 13, 2012) include:

• The drill program focused on delineating and expanding the high grade gold zones on the South Trend deposit.
• The deposit remains open for expansion along strike and at depth
• Assay results have been received from the full drill program, with significant drill intercepts including:
  December 21, 2011 released:
  • 6.93 g/t gold over 10.62 m including 10.55 g/t gold over 5.12 m and 34.50 g/t Au over 0.60 m, also 505 g/t silver over 0.90 m
  • 9.09 g/t gold over 3.35 m
  • 19.47 g/t gold over 2.20 m
  • 9.42 g/t gold over 3.80 m
  • 4.03 g/t gold over 2.43 m
  • 3.58 g/t gold over 4.00 m including 12.8 g/t gold over 1.0m

  February 13, 2012 released:

  • 33.30 g/t gold over 1.41 m
  • 3.26 g/t gold over 1.50 m
  • 7.51 g/t gold over 0.50 m

  (widths are core length and are not true widths)

The gold mineralized quartz vein systems of the South Trend Deposit are hosted by mafic volcanic rocks proximal to a volcanic-sediment contact. The mineralized vein zones consist mainly of quartz and carbonate with or without sulphides. Gold-rich sections of the vein system correlate with higher sulphide content and/or sections containing visible gold. Pyrite is the most common sulphide but chalcopyrite, minor sphalerite and galena have been observed. Arsenopyrite is generally absent from the assemblage.

Roger Dahn, P. Geo. (New Brunswick), Vice President-Exploration of Portage, is designated as the Qualified Person under National Instrument 43-101 and has reviewed and approved the contents of this news release.

Portage Minerals Inc. is a mineral exploration corporation exploring for gold in Eastern Canada. Further information about Portage can be accessed on the Company’s website at www.portagemineralsinc.com and on the SEDAR website at www.sedar.com. The common shares of Portage trade on the Canadian National Stock Exchange (“CNSX”) as a mining issuer under the trading symbol “RKX”.

To receive Company news releases via e-mail, please advise [email protected] and specify “Portage News” in the subject line.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof and Portage undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.