Portofino Resources Inc. announced that it has entered into a Mineral Claims Option Agreement with Delta Resources limited ("Delta") whereby Portofino has granted Delta the exclusive right to acquire a 100% interest in its Gold Creek property (The "Property"). The Property covers approximately 4,324 hectares and is situated just to the west of Delta's project area located near Thunder Bay, Ontario. The terms of the agreement include $300,000 paid in cash and 2,000,001 shares of Delta, paid as follows: $100,000 in cash and 666,667 shares of Delta on approval by the TSX Venture Exchange (the "Exchange"); $100,000 in Cash and 666,667 shares of Delta on the 1st anniversary of Exchange approval; and $100,000 in cash & 666,667 shares of Delta on the 2nd anniversary of Exchange approval.

Portofino will retain a 2% Net Smelter Return Royalty ("NSR") on the Property. Delta will have the option to buyback a 1.0% NSR at anytime for $1 million and will have a right of first refusal on the second 1.0% NSR, to a maximum of $4 million. Delta will assume the underlying agreements between Portofino and previous vendors on three different portions of the property.