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Portofino signs deal to acquire 2 lithium brine salar projects in Argentina

Portofino Resources Inc. said March 5 that it signed a binding agreement to acquire the Yergo and Yergo 2 lithium brine salar projects in Catamarca, Argentina, from a private owner.

The Yergo project covers an area of 2,932 hectares and Yergo 2 covers an area of 614 hectares. As compensation, Portofino will pay US$500,000 in staged escalating payments over a 27-month period.