red lake & atikokan districts · this presentation contains forward looking statements...

TSX-V : POR | FSE: POTA

PORTOFINO

RESOURCES INC.

RED LAKE & ATIKOKAN DISTRICTS

FINDING THE NEXT MAJOR GOLD DISCOVERY

August 2020

This presentation contains forward looking statements concerning future operations of Portofino Resources Inc. (the “Company”). Allforward-looking statements concerning the Company’s future plans and operations, including management’s assessment of theCompany’s project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company’scontrol. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance andexploration and financial results may differ materially from any estimates or projections. Such statements include, among others:possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; actual results ofreclamation activities; conclusions of future economic evaluations; changes in project parameters as plans continue to be refined;failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; delays and other risksrelated to construction activities and operations; timing and receipt of regulatory approvals of operations; the ability of the Companyand other relevant parties to satisfy regulatory requirements; the availability of financing for proposed transactions, programs andworking capital requirements on reasonable terms; the ability of third party service providers to deliver services on reasonable termsand in a timely manner; market conditions and general business, economic, competitive, political and social conditions. It isimportant to note that the information provided in this presentation is preliminary in nature. There is no certainty that a potentialmine will be realized.

Technical content has been reviewed and approved by Mr. Michael Kilbourne, P. Geo., who is a Qualified Person as defined byNational Instrument 43-101, Standards of Disclosure for Mineral Projects.

FORWARD LOOKING STATEMENTS

PORTOFINO

RESOURCES INC.

August-2020 TSX-V : POR 2

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

• The gold districts of Red Lake and Atikokan, Ontario are recognized as high grademining camps.

• Portofino’s South of Otter and Bruce Lake projects are located in the district of RedLake, in close proximity to the high-grade Dixie gold project currently being drilledand explored by Great Bear Resources Ltd.

• Portofino holds three Atikokan, Ontario gold projects; the Gold Creek propertylocated immediately south of the historic Shebandowan Ni-Cu mine, as well as theSapawe West and Melema West properties located just east of Atikokan.

• All Portofino projects are strategically located in historical and current miningdistricts, and have nearby infrastructure and road access.

NORTHWESTERN ONTARIO, CANADA: PRECIOUS METALS FOCUS

TSX-V : POR 3August-2020

RED LAKE:

South of Otter5,363 ha.

Bruce Lake1,428 ha.

ATIKOKAN:

Melema West869 ha.

Sapawe West1,147 ha.

Gold Creek3,918 ha.

PORTOFINO

RESOURCES INC.

4

Northwestern Ontario Mines and Portofino Properties

RED LAKE, ONTARIO DISTRICTSOUTH OF OTTER, BRUCE LAKE PROPERTIES

BRUCE LAKE

TSX-V : POR

Red Lake Gold Camp41 Moz. gold in Past Production

and Current Resources

August-2020

5

SOUTH OF OTTER

Auguat-2020 TSX-V : POR

• The South of Otter Property comprises 5,363 hectares (13,252 acres).

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

• The claims are contained within the Birch-Uchi-Confederation Lakes greenstone beltwhich hosts the world-renowned Red Lake high-grade gold mines just 35km westnorth west of the Property.

• The prolific Dixie Project boundary currently being drilled by Great Bear ResourcesLtd. (“GBR”) is only 9km west of the South of Otter and the two properties sharesimilar geology and structures.

• The South of Otter area is known for its copper and zinc volcanogenic massivesulphide (“VMS”) potential but the recent success of GBR on the Dixie project hasopened the possibility for significant gold mineralization.

• Portofino has discovered geophysical anomalies coinciding with gold-in-soilschemical anomalies and has received a trenching and drilling permit to test thesetargets.

7

Mafic to ultra-mafic rocks

Felsic to intermediate volcanic rocks

Mafic to ultra-mafic volcanic rocks

Mafic 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 Legend

New Discovery

Gold Mine

Fault

Portofino Properties

GBR Properties

Legend

Cochenour Mine Red Lake Mine

Campbell MineRed Lake Gold Camp41 Moz. gold in Past

Production and Current Resources

Starratt Olsen Mine

Madsen Mine

Great Bear Dixie Project

BTU Metals TNT Discovery

South of Otter Property

Bruce Lake Property

South of Otter Gold Discovery

N

0 5 10

km

SOUTH OF OTTER REGIONAL MINES AND DISCOVERIES

PORTOFINO

RESOURCES INC.

TSX-V : PORAugust-2020 7

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 0.36m

East Lake Fault

Grab 479.9 g/t Ag

Anticline

The above resources are historical in nature

DH 1.5% Cu, 6.33% Zn over 3.35m

Grab 0.489 g/t Au

SOUTH OF OTTER: MINERAL OCCURRENCES

PORTOFINO

RESOURCES INC.

8August-2020 TSX-V : POR

South of Otter Property5,363 ha.

N












Lithology Legend

Mineral Occurrence

Prospect

Developed Prospect Resources

Discretionary Occurrence

0 2.5 5

km

New Gold Discovery, TSXV:POR News

Release Aug 5, 2020

BRUCE LAKE

PORTOFINO

RESOURCES INC.

August-2020 TSX-V : POR

• The Bruce Lake Property comprises 5 mining claims containing 72 contiguous cell units and covers approximately1,486 hectares (3,627 acres)

• The Property is strategically located just east of Ontario Highway 105 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 45km north west of the Property

• The prolific Dixie Project boundary currently being drilled by “GBR” is only 11km northwest of the Bruce LakeProperty. GBR’s Pakwash Property lies only 1.5km southwest of the Bruce Lake Property.

• Geochemical soil sampling by Laurentian Goldfields in 2010 identified anomalous gold-in-soils on the Bruce LakeProperty that was recommended for follow-up.

• Portofino has so far discovered geophysical anomalies that coincide with the gold-in-soil anomalies, but there hasbeen no drill testing to date of the targets. Portofino intends to test these targets.

9

BRUCE LAKE: REGIONAL MINES AND DISCOVERIES

PORTOFINO

RESOURCES INC.


Bruce Lake Property1,428 ha.












Lithology Legend

West Confederation Greenstone Belt

Cochenour Mine

Red Lake Mine

Campbell Mine

Red Lake Gold Camp41 Moz. gold in Past Production

and Current Resources

0 5 10

km

N


Great Bear Dixie Project

BTU Metals TNT Discovery

LIMITED HISTORIC DRILLINGSOUTH OF OTTER AND BRUCE LAKE HISTORICAL DRILLING

Historical Diamond Drill HoleJuly-2020 TSX-V : POR

N

0 3 6

km

Bruce Lake Property


Historical drilling at former Griffith Iron Mine

Historical drilling at Great Bear Resources Dixie Project

Both the Bruce Lake and South of Otter properties have seen very limited drilling.


ATIKOKAN DISTRICT: OVERVIEW

PORTOFINO

RESOURCES INC.


• Gold was first discovered in the 1800’s in Atikokan, along with iron and base metals.

• Atikokan’s historical iron mines, Caland and Steep Rock, first opened in 1943 and the district grew into a majorsource of iron ore up to the 1980’s when operations ceased.

• Agnico Eagle has a large and increasing presence in the region, headlined by its 5 million ounce Hammond Reef GoldDeposit.

• Exploration by Agnico and numerous junior companies in this historically active region of Northwestern Ontario hasheated up this year.

• Historical activities on Portofino’s Atikokan projects have resulted in multiple gold showings. Compilation andreinterpretation of all available historic data is underway with the objective of developing exploration targets for thissummer’s field program.

13

GOLD CREEK PROJECT


• The Gold Creek Property comprises 10 mining claims containing 192 contiguous cellunits and covers approximately 3,918 hectares (9,681 acres).

• The Property is strategically located just south of the Trans Canada Highway and isserviced by active logging roads with nearby power and natural gas lines.

• The claims are contained within the Shebandowan Greenstone belt which hosts thepast producing INCO Shebandowan Ni-Cu Mine complex as well as several goldoccurrences within the Matawin Gold Belt.

• The Gold Creek Property hosts zones of significant high-grade gold mineralizationreportedly related to the Crayfish Fault Zone.

• The Matawin Gold Belt is characterized by two styles of gold mineralization. Goldoccurs in quartz veins associated with granodioritic to syenite dikes cross-cuttingthe Keewatin and Timiskaming rocks and in quartz stock-works and sulfide enrichedzones within carbonate-altered Timiskaming metasedimentary rocks. These two-types of mineralization are analogous to Kirkland Lake Gold Ltd. deposits of theMain 04’ Break and South Mine Complex.

14

GOLD CREEK: MINERAL OCCURRENCES

PORTOFINO

RESOURCES INC.


Gold Creek Property3,918 ha.

Occurrence


Prospect

Past Producer without Resources

Past Producer with Resources


Mineral Occurrence Legend





Diorite-granodiorite rocks



Lithology Legend

Coarse Clastic sedimentary rocks

15

Fault/Deformation Zone

Portofino Property

Symbol Legend

Subprovince Boundary

INCO Shebandowan Mine Complex1972-1988, 9.2Mt 1.75% Ni, 0.88% Cu, 0.063% Co and 1.83 g/t PGE’s

Vanguard East100,000 tons @ 1.8% Cu, 3.4% Zn

Vanguard West180,000 tons @ 1.25% Cu, 1.5% Zn

0 2.5 5

km

N

Matawin Gold Belt

NGOLD CREEK: HIGH GRADE OCCURENCES IN AREA

14July-2020 TSX-V : POR

W2 ZoneGrab 51.2 g/t Au

V ZoneGrab 33.9 g/t Au

S1 ZoneGrab 175 g/t Au

AF ZoneINCO grab of 46.6 g/t Au and 759 g/t Au

8 veinlets with VG with some up to 2% VG (A. Tims, OGS 2016)

P ZoneChannel sample 11.24 g/t Au, 135 g/t Ag

Grabs 38.66 g/t Au and 401 g/t Ag 2008 DH 2.38 g/t Au over 8.3m, VG

GOLD CREEK: HIGH GRADE GOLD OCCURRENCES

Dyke 7 ZoneVG with py-mo

P ZoneGrab 17.8 g/t Au

I Zone1995 DH 3.92 g/t Au over 41m, INCO

bulk sample of 1000 kg avg. 9.9 g/t AuGrabs from 22.3- 234 g/t Au

AD Zone

Scali Zone

Occurrence


Prospect





0 1.25 2.5

km

N

16

Sampling

Hand lensing sample Quartz veining in sediments

MELEMA WEST PROJECT

PORTOFINO

RESOURCES INC.


• The Property is hosted within the Wabigoon Subprovince, which is increasingly being recognized for its metalendowment (Hammond Reef, Cameron Lake, Rainy River).

• The Property is located north of the Quetico Fault and hosts a northeast trending splay called the Minto Shear Zone.This structure is similar to that hosting the 5 million ounces of gold of the Agnico Eagle Hammond Reef Deposit.

• A recent discovery (2019) within office archives, by Ontario government geologists, document two diamond drillholes completed in 1962 that signify a previously unknown gold-bearing northeast trending structure named theYoung-Corrigan Shear Zone. This deformation zone is sub-parallel to the Minto Shear Zone and also within theMelema West claim group.

• No assays were recorded with the drill logs but they describe “100’s of feet of sheared porphyry with quartz stringersand disseminated pyrite, pyrrhotite, chalcopyrite, galena and green ‘mica.”

• The Melema West claims boast excellent location, infrastructure and access.

18

N

Diamond Drill Hole

The Melema West Property is hosted along the Minto

Shear Zone, a second order

structure off the Quetico Fault

Melema West Property856 ha












Lithology Legend


MELEMA WEST: CURRENT AND FORMER MINES

Hammond Reef Deposit 5M oz. Au, all categories

Sapawe West Property

Atikokan

0 3 6

km

N

NMELEMA WEST: ACTIVE STAKING IN AREA

Extensive recent staking by

Agnico-Eagle Mines signifies

the merit of these northeast

trending gold bearing

structures.

Melema West Property869 ha.

Auguat-2020 TSX-V : POR 20

MELEMA WEST: ACTIVE STAKING IN AREA

Agnico EagleHammond Reef Deposit

Agnico Eagle StakingApril 2020

Agnico Eagle StakingJune 2020

Sapawe West Property

Staked Claims

Patented Claims

0 3.5 7

km

N

N

Minto Mine (no production records)

NMELEMA WEST: MINERAL OCCURRENCES

Gold Occurrence

Past Producer

Traxxin Resources 2017 Samples

August-2020 21

Young-Corrigan Drilling 19622 drill holes not in assessment files.

Drill logs describe 100’s of feet of highly sheared porphyry with quartz stringers, py,

cpy, gn and green mica. No assays have been located. Sampling by Government geologists

up to 0.322 gpt Au. Sampling by TraxxinResources staff of 10 gpt Au and 0.879 gpt Au

8.5m wide shear hosted quartz vein1996 grabs of 3.65 gpt Au and 6.33 gpt Au

Melema West Property 1.3 gpt Au, 3.4 gpt Au,0.932 gpt Au

5.84 gpt Au, 1.48 gpt Au, 1.27 gpt Au

N

0 1 2

km

TSX-V : POR

SAPAWE WEST PROJECT

PORTOFINO

RESOURCES INC.


• The Property is hosted within the Wabigoon Subprovince is being increasingly recognized for its metal endowment(Hammond Reef, Cameron Lake, Rainy River).

• Along strike of the past producing Sapawe Gold Mine. (Historical resource of 528,000 tonnes at 10.62 gpt Au.)

• The Property is located just north of the Quetico Fault and hosts a northeast trending splay called the Jack Lake ShearZone. This structure is similar to the structure that hosts Agnico Eagle’s 5 million ounce Hammond Reef Gold Deposit.

• Favourable geology of mafic volcanics, mafic and felsic intrusive rocks along a structurally active area ideal forhydrothermal fluid pathways and traps.

• Mapping and prospecting by Noranda in 1990 located several silicified and serictic shear zones hosting gold showingsup to 2.4 gpt Au.

• Excellent location, infrastructure and access

22

N

Diamond Drill Hole












Lithology Legend


SAPAWE WEST: CURRENT AND FORMER MINES

Hammond Reef Deposit 5M oz. Au, all categories

Melema West Property

Atikokan

0 3 6

km

N

Sapawe West Property1,147 ha

The Sapawe West Property is hosted

along the Jack Lake Shear Zone, a

second order structure off the

Quetico Fault

Sapawe Mine, past production 30Kt @ 4.72 gpt Au, 1.36 gpt Ag

Historic resource of 528Kt @ 10.62 gpt Au (non-43-101)

Falcon Gold Drilling, TSXV:FG, Apr 28, 2020 NR

SAPAWE WEST: MINERAL OCCURRENCES N


Grabs 0.3 gpt Au, 44.2 gpt Ag

Jack Lake Gold Deposit99Kt @ 15.56 gpt Au (non 43-101)

Occurrence


Prospect





Sapawe Mine, past production 33Kt @ 4.72 gpt Au, 1.36 gpt Ag

Historic resource of 528Kt @ 10.62 gpt Au (non-43-101)

Almada Showing, Au, Cu, Mo Pb

Mo

Partridge Showing, 6m wide qtz vein with Au, Cu, Pb, grab 0.68 gpt Au

Olcott Showing, 2012 DH6.9 gpt Au/4.7m5.4 gpt Au/6.2m1.9 gpt Au/ 19.2m

N

0 1.25 2.5

km

LEADERSHIP TEAM

PORTOFINO

RESOURCES INC. David Tafel, Director, President & CEOCanada, Vancouver

Jeremy Wright, CPA, CMA

CFOCanada, Vancouver

Stephen Wilkinson, DirectorCanada, Vancouver

Brian Crawford, CPA, CMA

DirectorCanada, Toronto

Mr. Crawford holds a B. Com. from the University of Torontoand has extensive experience as a senior financial executivewith public and private companies and as a partner in anational firm of chartered professional accountants. Briancurrently serves as a Director, Corporate Secretary, and/orChief Financial Officer of several TSX-V and CSE listedcompanies including Colibri Resource Corporation, SearchlightResources Inc., CBLT Inc., and Tempus Capital Inc.

Mr. Tafel holds a B.A. in Economics from the University ofWestern Ontario and contributes over 30 years of corporatestructuring, strategic planning, financing and managementexperience to the Company. He has been an officer anddirector of a number of private and publicly listed resourcecompanies. He has been instrumental in raising well over$100 million for resource, life sciences and technologycompanies. Mr. Tafel managed private investment funds atthe largest independent Canadian securities firm.

Mr. Wright brings over 20 years’ experience to the Companyas President and CEO of Seatrend Strategy Group.Mr. Wright currently serves as the CFO for: PortofinoResources, Ecoland Biosciences, AmWolf Capital, FreeformCapital, and previously served as CFO for GTEC Holdingsa Canadian cannabis consolidation. He is a CPA (CMA), hasextensive negotiation training, and also holds a Bachelor ofArts, with honours in Environmental Economics from BrockUniversity.

Mr. Wilkinson was the Vancouver-based mining analyst forRBC Dominion Securities Inc. in the mid to late 1990's. From1999 to 2002, he was President, CEO and a director ofNorthern Orion Explorations Ltd. He has founded and funded anumber of private and public exploration companies, and untilrecently was the CEO and founder of Blue Star Gold Corp. Mr.Wilkinson has a Bachelor of Science from the University ofWestern Ontario (Geology, 1976), a Master of Science fromCarleton University in Ottawa (Geology, 1983) and an MBAdegree from Clarkson University in New York (1995).


GEOLOGICAL ADVISORY TEAM

Mike Kilbourne, BSc. (Hons), P.Geo

Geological ConsultantCanada, Toronto

Alex Pleson, P.Geo

Geological ConsultantCanada, Thunder Bay

Mr. Pleson is a professional geologist experienced in mineral exploration anddevelopment. Dedicated to exploring for precious, base and industrial metals. Hisgeological experience has focused mainly in the Wawa, Quetico, Wabigoon, EnglishRiver and Uchi Subprovinces.

His expertise ranges from online staking, prospecting, line cutting, geophysics,geochemical soil/rock surveys, structural geology to drill program management andmine development.

Mr. Kilbourne graduated from the University of Western Ontario in 1985 with anHonours BSc. in Geology. His first field season was in 1980, representing over 40years in the industry. Mr. Kilbourne’s career has involved holding various executivepositions for junior resource companies, gold production geologist for open pit,underground bulk and narrow vein mining, and long term mine planning for the10+ simultaneous US aggregate operations. He has supervised and managed over100,000 meters of diamond drilling in Archean precious and base metal projectsand recently surpassed generating over 700 exploration targets across NorthAmerica and Mexico for a private firm.


Shares outstanding 54,333,479

Options outstanding 4,233,750

Warrants outstanding 29,698,583

Shares outstanding fully diluted 88,265,812

SHARE STRUCTUREAs at August 3, 2020


PORTOFINO

RESOURCES INC.

www.portofinoresources.com

POR :TSX-V

David Tafel

CEO, Director

604-484-2161

[email protected]

Jeremy Wright, CPA, CMA

CFO

604-837-7990

[email protected]


http://www.portofinoresources.com/

red lake & atikokan districts · this presentation contains forward looking statements...

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