MONTORO
COMPLETES FIRST STAGE CASH AND SHARE ISSUANCE ON CUP LAKE/DONEN URANIUM
DEPOSIT
International Montoro Resources Inc. (“IMT”) announces
that further to the TSX Venture Exchange (the “Exchange”)
bulletin dated July 27, 2007 the Company has made the first stage
cash payment of $250,000 and issued 2,000,000 common treasury shares
to the Vendors. All common shares issued under the purchase agreement
have a statutory four month hold period expiring November 28,2007.
Following completion and acceptance for filing of a NI 43-101 Technical
Report (the “Report) dated May 31,2007, by Dr. Peter A. Christopher,
PhD., P.Eng., on the Cup Lake/Donen (“Cup Lake”) uranium
properties, the Exchange accepted for filing a purchase agreement,
dated December 8,2006, between IMT, Anthony Beruschi, Magic Dragon
Ventures Ltd., Power Resources Corp. and 533532 B.C. Ltd. (collectively
the “Vendors”) pursuant to which IMT has the option
to acquire up to a one hundred percent (100%) interest in Cup Lake
located in the Greenwood Mining Division in south-central British
Columbia.
The Cup Lake uranium deposit is covered by 11 claims totalling
1026.2 ha and starts about 2.5 km SSW of the Blizzard Uranium deposit.
Cup Lake is about 52 km southeast of Kelowna and 21 km northeast
of Beaverdell, British Columbia. The Cup Lake/Donen, and nearby
Blizzard, Fuki, Haynes Lake, and Hydraulic Lake uranium deposits
have been classified as a basal type deposit (Christopher and Ballantyne,
1976) and as a channel conglomerate type (McMillan, 1978). The term
‘basal type’ uranium deposit is applied to these deposits
because they often occur in a basal sequence of gravel and sands
overlying a major unconformity and are below or at the base of a
trapping impermeable layer.
Dr. Christopher recommends a success contingent staged evaluation
program for further testing uranium mineralization. IMT is reviewing
the recommendations and considering the program for a fall 2007
review. IMT has completed the acquisition and digitizing of previous
drill data for calculation of current resources and further planning
as recommended.
About International Montoro Resources Inc.
International Montoro Resources is focused on the advancement of
its 100-percent optioned Elliot Lake uranium project in northern
Ontario, its Cup Lake/Donen uranium project in south-central British
Columbia, and its Crackingstone (50/50 with Belmont Resources Inc.)
Uranium City area 750 ha property in Northern Saskatchewan.
In addition the Company (50/50) with Belmont Resources Inc. has
acquired significant uranium properties located in the Central Mineral
Belt Uranium District in Labrador (recently optioned to Crosshair
Exploration (TSX.V: CXX) and staked further claim blocks in the
Uranium City District in Northern Saskatchewan (recently optioned
the Orbit Lake-11,109 ha block to Ultra Uranium (TSX.V:ULU). The
uranium market continues to experience a strong upward price trend
due to limited supply and increasing global demand. Through project
generation and additional discoveries, Montoro will provide shareholders
with exposure and leverage to this increasing global demand for
uranium.
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