Portage Resources Inc. (POTG) Signs Deal to Purchase Peruvian Mining Property
Portage Resources Inc. reported that the company has signed an agreement to acquire a mining property in South America. The company plans to conduct an exploratory drilling program at the site in the near future. Portage Resources is purchasing the Wukakuy property from Airon Peru S.A.C. in exchange for 20 million shares of the company’s common stock. The company signed a letter of intent to purchase the properties on June 18, 2011. The Wukakuy property totals approximately 1,482 acres and is located in the Putina District in the southern portion of Peru. The property comprises two separate mining concessions –…