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Montoro Options Bathurst, N.B. - Cobalt Prospect
Montoro Resources Inc. ("the Company") is pleased to
announce the signing of a Letter of Intent with Rufus Smith of New
Brunswick to acquire a 50% interest in the Malachite Property, Bathurst,
N.B. Mining Camp. Terms of the Letter of Intent provides for staged
payments totalling $17,000 and 150,000 shares in two tranches as
well as exploration expenditures of $10,000 by September 30, 2002
and $100,000 by September 30, 2003. The cobalt prospect property
is also subject to a 2% NSR. A finder’s fee in cash and shares
is also payable subject to CDNX approval.
Further details on the property and its significant geological
features will be released upon signing a formal property acquisition
agreement and receipt of a Geological report.
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