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MONTORO JOINT VENTURES BELMONT PROSPECT IN RED LAKE
CAMP
Montoro Resources Inc. (“MNQ”) previously announced
the acquisition of a gold prospect in the Bateman/Shaver Townships,
Red Lake area. Belmont
Resources Inc. (“BEO”) also announced an acquisition
in the Bateman Township, south of Montoro’s prospect.
The companies have entered in an agreement to joint venture the
exploration programs on these prospects and will therefore assign
a 50% interest in each other’s option. Both properties are
adjacent to Rubicon-Anglo Gold joint venture properties. Rubicon
is advancing its key projects with important new discoveries and
has attracted Anglo Gold, the world’s largest gold producer,
as a partner in its Red Lake projects.
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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