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Montoro & Belmont Acquire Uranium/Gold Prospect
Claim in Northern Saskatchewan
International Montoro Resources Inc. (“IMT”) and Belmont
Resources Inc. (“BEA”) have signed an agreement to acquire
100% interest in one claim block in northern Saskatchewan near Uranium
City.
This claim comprises approx. 750 hectares in the Northern Mining
District, Crackingstone River area, adjacent to JNR Resources Inc.
(“JNN”) Crackingstone Project. Historic work in the
area dates back to the 1950’s. From 1953 to 1982, sixteen
deposits were brought into production in the Uranium City area,
with total output in the order of 25,000 tons of uranium.
Terms of the Montoro/Belmont Option Agreement, subject to regulatory
approvals, are $30,000 cash over two years and 100,000 treasury
common shares ($15,000 and 50,000 shares each from Montoro and Belmont).
The property is also subject to a 2% NSR.
The companies are commissioning a NI 43-101 report as soon as possible
to allow the companies’ geological consultant to prospect
and sample the numerous outcroppings, which occur on the property.
Detailed merits of this prospect and a planned 2006 exploration
program will be released as soon as available.
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