Convinced that the "new lands" discovered by Caboto were actually to the east and not the west, of the line of demarcation, the Portuguese sent out an exploratory mission in about 1500, under Gaspar Cortreal. The route of this first voyage is unknown, but it is almost certain that Cortreal reached Newfoundland. He returned to the "new land" with his brother Miguel Cortreal in 1501. He visited the same shores and made contact with the Indians, remaining to spend the winter in the area while his brother Miguel sailed back to Portugal. Miguel then came back to look for Gasparand neither was ever heard from again.
Since these explorations did not produce any of the expected riches, no further significant steps were taken in this direction for the next twenty years.
The Placentia area was explored by the Portuguese navigators,Gaspar and Miguel Cortreal. There is a legend that the Cortreals had a colony at Placentia. They gave their names to the Placentia area, for the "Reinal Map" of 1504 shows it has the "Insulae Cortrealis". By 1547, the name had changed to a variation of its present name, for the "Kallard Map" of that year shows the area as the "Isle de Plaziencia"