Portex Minerals Inc. announced that the company has entered into a binding Letter of Intent to acquire Walker Norris Capital Partners III d/b/a Direct Metals Recycling. Portex and DMR will negotiate a formal definitive agreement in good faith. The formal Definitive Agreement will contain covenants, representations, warranties, conditions, indemnities and provisions customary for transactions of the nature of the qualifying transaction.

Upon completion of the acquisition, Mr. Dan Sterling will be the President and CEO of the Company.