January 25, 2008
International Montoro Resources Inc. (TSX Venture: IMT), “Montoro” or the “Company”) is pleased to announce it has arrange non-brokered private placements to raise up to $1 million by the sale of 4,000,000 units at $0.25 per unit. Each unit will consist of one common share and one two year non-transferable share purchase warrant. One warrant will entitle the holder to purchase one additional common share of the Company for a period of 120 days at a price of $0.45 per share. After 120 days, two share purchase warrants will be required to purchase one additional common share of the Company at a price of $0.45 per share for two years.
The Company intends to utilize the proceeds of the private placement for continued exploration and drilling on its Elliot Lake-Ontario uranium property, its Uranium City- Saskatchewan area properties, and general working capital.
The Company will pay a finder’s fee or commission in accordance with
the policies of the TSX Venture Exchange. The private placement is subject to
the approval of the TSX Venture Exchange.
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 and Cup Lake/Donen
uranium project in south-central British Columbia. 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 two claim blocks (Crackingstone-982
ha & Orbit Lake-11,109 ha) in the Uranium City District in Northern Saskatchewan
(recently optioned the Orbit -11,109 ha block to Ultra Uranium (TSX.V:ULU).
Through project generation and additional discoveries, Montoro will provide
shareholders with exposure and leverage to the rising global demand for uranium.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.