Porto Energy Corp. Announces Resignations of Directors and Officers

THE WOODLANDS, TX, May 30, 2014 /CNW/ - Porto Energy Corp., ("Porto" or the "Company") (TSXV:PEC), today announced that, further to its May 26, 2014 announcement relating to the wind-down of its operations, each of the directors and officers of Porto and its wholly owned subsidiary, Mohave Oil and Gas Corporation, has resigned effective immediately.

It is anticipated that trading in the common shares of Porto will remain suspended by the TSXV, with the eventual delisting of the Company from the TSXV in due course.

About Porto Energy Corp.

Porto Energy Corp. is an international oil and gas company engaged in the exploration of crude oil and natural gas in Portugal.  Porto Energy's shares trade on the TSX Venture Exchange under the ticker symbol "PEC". For more information on Porto Energy visit www.portoenergy.com.

Cautionary Statements

This press release contains certain forward-looking statements.  These statements relate to future events or the Company's future performance.  All statements other than statements of historical fact are forward-looking statements.  The use of any of the words "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "believe", "predict" and "potential" and similar expressions are intended to identify forward-looking statements.  These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.  These forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking statements that are contained in this press release, except in accordance with applicable securities laws.

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.

SOURCE: Porto Energy Corp.

For more information on Porto Energy visit www.portoenergy.com.