Portage Minerals S.A. signed a letter of intent to acquire 55% stake in Rocas #2 Project from Nilam Resources Inc. (OTCPK:NILA) on September 26, 2011. Portage Minerals S.A. signed a definitive agreement to acquire 55% stake in Rocas #2 Project on September 30, 2011. The terms of this acquisition include a minimum investment of $50,000 or 200 meters drilling within 24 months of all permits and registry. Further, the additional 45% of the project can be acquired at any time for $0.675 per each ounce of silver on the total silver resource. Nilam Resources will also receive a one time payment of three and a half million shares of Portage Resources Inc. The transaction subject to due diligence investigation and is expected to complete on or before October 31, 2011. Financial Insights acted as the business advisor to Portage Minerals S.A.

Portage Minerals S.A. cancelled the acquisition of 55% stake in Rocas #2 Project from Nilam Resources Inc. (OTCPK:NILA) on September 26, 2012.