Portex Minerals Inc. has agreed to acquire all of the shares of Metallum Exploration Limited (Metallum) in exchange for 100,000,000 newly issued Portex common shares valued at $0.06 per share. Upon completion of these transactions, Portex announced the appointment of Mr. Larry Segerstrom to the Board of Directors. Mr. Segerstrom is a professional geologist with more than 30 years of experience in exploration and mine operations.

He is currently President of Metallum.