| MONTORO
COMPLETES PROPERTY ACQUISITION IN THE RED LAKE CAMP
Montoro Resources Inc. previously reported an Option Agreement
(April 14/03 News Release) whereby the Company agreed to acquire
a 100% interest in a gold prospect in Bateman/Shaver Township –
Red Lake Greenstone Belt – Northwestern, Ontario. On April
21/03 the TSX Venture Exchange has accepted for filing the agreement.
The Company has now completed this transaction with the vendor
(Jaroslav Ruza). In consideration the Company will pay $20,000 cash
in stages ($4,000 has been paid) and has issued 200,000 common shares
to the Vendor. The shares are subject to a four-month hold period.
The property is also subject to a 2% NSR.
The Company will be reviewing nearby exploration activity of Wolfden/Placer
Dome and Rubicon/Anglo Gold and will be commissioning a geological
report for a recommended exploration program.
Montoro is a Canadian exploration company with projects in Bathurst,
New Brunswick (Malachite – cobalt/copper prospect); northern
Quebec – Ungava Raglan Camp (Gamache and South Trend property
joint ventures with Canadian Royalties Inc. – nickel/copper/PGM
prospects); and northwestern Ontario (Red Lake – gold prospect).
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