Portola Resources Inc. Announces Update to Proposed Change of Business to an Investment Company

Portola Resources Inc. (TSX VENTURE:PZ) (the "Corporation" or "Portola")
announced in its press release of November 27, 2013, that the Board of Directors
of the Corporation has agreed to a Change of Business from that of a Mining
Issuer to an Investment Issuer, subject to TSXV policy requirements and all
requisite shareholder and other approvals.


The Corporation is working on completing its foundation investments on which to
base its proposed new operations. It is also working on submitting an
application to the TSXV and in that regard, will also seek shareholder approval.


Reinstatement to Trading

The common shares of the Corporation will remain halted pending receipt by the
TSXV of certain required materials from the Corporation. 


About the Corporation

The Corporation is incorporated under the Business Corporations Act (B.C.) and
has relocated its business office to Toronto, Ontario. The Corporation currently
operates as a junior mining exploration company, whose common shares are listed
for trading on the TSXV under the symbol PZ. After completion of the proposed
Change of Business, the Corporation will be classified as an Investment Issuer
under the policies of the TSXV.


Neither the 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Portola Resources Inc.
Michael Denny
President and CEO
416-864-7111