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MONTORO JOINS THE QUEST FOR GOLD IN THE RED LAKE
CAMP
Montoro Resources Inc. (“MNQ”) is pleased to announce
that the company has entered into an Option Agreement whereby Montoro
can earn a 100 percent interest in a gold prospect in the Red Lake
Greenstone Belt, Ontario. The property consists of 16 claims (approximately
640 acres) located in the Bateman Township and near the eastern
boundary of the Wolfden Resources / Placer Dome East Bay joint venture
property. The property is located approximately 15km northeast of
the producing Campbell (Placer Dome), Red Lake (Goldcorp) gold claims
and is adjacent to claims owned by Rubicon Minerals Corporation
and Rubicon/Anglo Gold.
The Red Lake belt is world renowned for its high-grade deposits.
Most recently, attention has been focused on Goldcorp’s phenomenally
successful Red Lake mine, where a new high-grade gold deposit has
been discovered, 48 years after the mine first entered production.
Terms of the Option Agreement are $20,000 cash and 200,000 shares
in stages.
Montoro management will be initiating a 2003 program on the prospect.
The Company is required to complete a $15,000 exploration program
by July 31, 2004. The property is also subject to a 2% NSR.
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