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MONTORO SIGNS LETTER OF INTENT TO ACQUIRE PERU GOLD
PROSPECT
Montoro Resources Inc. ("MNQ") is pleased to announce
the signing of a Letter of Intent ("LOI") with S.M.R.L.
Campanario No. 2 ("Campanario") of Peru to acquire a 140
hectare gold prospect property 300km northwest of Arequipa, Peru.
Terms of the LOI provides for staged payments totalling $120,000
over two years and a Net Profit of the precious metals recovered
after deducting capital and operating expenses.
The prospect property has seen limited exploration and small scale
surface and underground production returning gold values in the
range of 20 to 30 g/t gold. Montoro is also negotiating for further
acreage surrounding this prospect.
Further details on the property and its significant geological
features will be released upon signing a formal agreement, completing
due diligence and receipt of an independent geological report.
The acquisition is subject to TSX Venture Exchange and regulatory
approvals.
OTHER:
Montoro currently owns a nickel/copper/PGM prospect located in
the South Raglan Trend area of northern Quebec, south of the Raglan
nickel-copper mine (19.502 Mt @ 2.85% Ni and 0.78% Cu) operated
by Falconbridge Ltd.
In addition the Company has signed an agreement to acquire a 50%
interest in a cobalt/copper prospect near Bathurst, New Brunswick.
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