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MONTORO & BELMONT ADD STRATEGIC LABRADOR PROPERTIES
TO THEIR URANIUM PORTFOLIOS
International Montoro Resources Inc. (“IMT”) and Belmont
Resources Inc. (“BEA”) are pleased to announce that
they have signed an agreement to acquire 100% interest in four claim
blocks (126 units approx. 4000 ha) in the CENTRAL MINERAL BELT URANIUM
DISTRICT, LABRADOR.
The first claim block – location Post Hill (36 units) is
located in an area surrounded by a large land package being extensively
explored by Aurora Energy Inc. (Altius Mineral Corporation –
“ALS” and Fronteer Development Group Inc. – “FRG”).
The Altius/Fronteer land package is in one of the most prolific
uranium districts in Canada. Over the past two years, Fronteer and
Altius have identified widespread surface uranium mineralization
associated with undrilled radiometric anomalies that are up to 4.0
square kilometres in size (“ALS” – June 20/05).
Universal Uranium Ltd. (“UUL”) and Silver Spruce Resources
J.V. are also conducting extensive exploration programs near the
Post Hill claims.
The second and third claim groups in West Central Labrador- location
MacLean Lake (28 units) and Smallwood Reservoir (41 units) are situated
south and adjacent to BHP Billiton and Gallery Resources Ltd. exploration
camps. The main Trans Labrador Hwy. which runs from Churchill Falls
to the mining centre of Shefferville, Quebec crosses through the
lower portion of these claims, allowing good access to these properties.
The fourth claim block also in West Central Labrador –location
Way Bay (21 units) is also strategically located south and adjacent
to the large claim block (Gabbro Lake) being developed by Consolidated
Abaddon Resources Inc. (“ABN”) and again near additional
ground held by BHP and Gallery. BHP Billiton and Gallery are completing
a detailed evaluation (nickel-copper) of recently completed ground
truthing of the airborne electromagnetic conductors encountered
on the Gabbro Lake Project. Consolidated Abaddon is completing a
comprehensive report on the exploration results regarding the potential
of U308 sources on the property.
The Companies will be commissioning NI 43-101 reports as soon as
possible to allow the planning of a 2006 exploration and due diligence
program in one of the most prospective and important uranium districts
in Canada.
Terms of the Montoro/Belmont Option Agreement, subject to regulatory
approvals, are $60,000 cash over two years and 200,000 treasury
common shares ($30,000 and 100,000 shares each from Montoro and
Belmont). The property is also subject to a 2% NSR with a one percent
(1%) buy-out for $500,000.
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