Portex Minerals Inc. announced that it has commenced the second phase of its drill program which, when completed, is expected to consist of at least five additional holes for a total of approximately 1,500 to 2,000 meters. As part of its work program for 2012, Portex also expects to undertake mineralogical and metallurgical test work, provide an updated resource estimate and complete a preliminary economic assessment for the development of the Lagoa Salgada deposit. The timing of the various components of the 2012 work program may vary. The company's principal property is the Lagoa Salgada concession in Southern Portugal. The Lagoa Salgada concession hosts the Lagoa Salgada deposit, a polymetallic volcanogenic massive sulphide deposit which consists primarily of lead and zinc, along with some gold, silver and copper. The concession is 134 km2 in area and is close to infrastructure including highways, rail, power and labour supply. Portex recently completed a NI 43-101 Technical Report and Resource Estimate (Wardrop, a Tetra Tech company) which showed an indicated resource, at a 3.5% Zinc Equivalent (Zn-Eq) cut off, of 2.9 million tonnes at 7.2% zinc equivalent and an inferred resource of 1.6 million tonnes at 5.5% zinc equivalent.