Portal Increases After Pay-Out Interest in Bigwave JV

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Thu Apr 22, 2010 10:55am EDT

  VANCOUVER, BRITISH COLUMBIA, Apr 22 (MARKET WIRE) -- 
Portal Resources Ltd. (TSX VENTURE: PDO) (the "Company") is
pleased to announce that it has agreed to purchase a 6.6% "after
pay-out" working interest (the "Interest") in the
Company's Bigwave Oil and Gas Joint Venture (the "Joint
Venture") for a total of C$5,000 in cash and 500,000 common shares
in the capital of the Company.

    The Participation Agreement was previously announced by the Company on
April 14, 2009. The Agreement currently requires Portal to assign 30% of
its 22% working interest in the Joint Venture (net 6.6%) to certain other
participants in the Joint Venture after Portal recovers all of its
invested capital from its share of oil and gas production revenue (after
pay-out). On the closing of the purchase of the Interest, the
Participation Agreement will be terminated and Portal will hold a 22%
working interest in the Joint Venture.

    The Company's obligation to complete the purchase of the Interest is
subject to the satisfaction of certain normal conditions precedent,
including the completion of due diligence and receipt of any required
approval from the TSX Venture Exchange.

    Portal Resources Ltd. was founded in 1999 and is based in Vancouver,
Canada with a focus on the exploration, development and exploitation of
natural resources in North America. Please refer to the Company's website
at www.portalresources.net.

    ON BEHALF OF PORTAL RESOURCES LTD.

    David Hottman, President & CEO

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Portal Resources Ltd.
Dan Gibbons
604-629-1929

Portal Resources Ltd.
David Hottman
President & CEO
604-629-1929
604-629-1930 (FAX)
info@portalresources.net
www.portalresources.net

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