UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 AND 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the Period July 2007 File No. 0-51352
PORTAL RESOURCES LTD.
(Name of Registrant)
Suite 750, 625 Howe Street, Vancouver, British Columbia, Canada, V6C 2T6
(Address of principal executive offices)
1.
News Release dated July 5, 2007
Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
FORM 20-FXXX
FORM 40-F ____
Indicate by check mark whether the Registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes _____
NoXXX
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Form 6-K to be signed on its behalf by the undersigned, thereunto duly authorized.
Portal Resources Ltd.
(Registrant)
Dated: July 5, 2007 | By: /s/ David Hottman David Hottman, Chairman |
News Release TSX-V: PDO 07-14 July 5, 2007 |
PORTAL RESOURCES INCREASES PRIVATE PLACEMENT
TO 4.55 MILLION DOLLARS
Portal Resources Ltd. (TSX Venture Exchange–Symbol: PDO) is pleased to announce that it has increased the previously announced $4,000,000 non-brokered private placement to $4.55 Million. The placement consists of 7 million units at a price of $0.65 per unit. Each unit consists of one common share and a one-half share purchase warrant. Each whole share purchase warrant will be exercisable for one common share at a price of $0.85 for a period of 12 months.
The proceeds will be used to advance exploration on Portal Resources’ uranium, gold/silver and copper/gold exploration projects in Argentina and for general working capital purposes. A seven percent finder's fee will be paid on a portion of the placement in cash or units. The placement is subject to regulatory approval and is anticipated to close within the following 10 days.
Portal Resources Ltd. was founded in 2004 and is a natural resource company, based in Vancouver and focused on the exploration and development of high potential uranium, gold-silver and copper-gold projects in Argentina. The company currently controls over 1,300 square miles of mineral rights in three primary project areas. A description of these projects, including maps and photographs can be viewed on the company’s website at www.portalresources.net.
ON BEHALF OF PORTAL RESOURCES LTD.
“David Hottman”
Chairman
No securities regulatory authority or stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this release