International Montoro Resources Inc. (“IMT”), and Belmont Resources Inc. (“BEA”) (the Companies”) were unable to negotiate amended option terms pursuant to the original April 16, 2007 property option agreement (the “Agreement”) with Ultra Uranium Corp. (“Ultra”). Belmont/Montoro consider the Agreement to be terminated and accordingly the option ended on the Orbit and Crackingstone properties.
Montoro/Belmont are exploring other joint ventures and potential options to continue development of these Uranium prospects, located 8 km SW of Uranium City, Saskatchewan.
The Companies were pleased with the results derived from the 2007/08- $350,000 exploration programs performed on the 11,109 ha Orbit property. Some highlights from the sampling program included grab samples assaying 0.12% up to 0.81% U3O8. Historical samples recorded in these areas tested up to 2.88% U3O8 and an area near the north shore of Orbit Bay reported 21 small selected grab samples containing veined pitchblende assaying from 2.42% to 22.12% U3O8 (Orbit Uranium Development Limited –1951), (see February 1, 2008 news release). The 2007 helicopter airborne radiometric and magnetic survey identified and confirmed many uranium targets requiring follow-up evaluation for their uranium potential ( see April 30, 2008 news release). A second 2008 geophysical airborne (electromagnetic/magnetic) survey confirmed 19 conductors of which 6 have significant strike length from 1 km to 3.5 km. These conductors are considered prime exploration targets for the discovery of further uranium mineralization. Four of the conductors are coincident with significant radioactive zones detected in the 2007 survey and with historical uranium showings (see September 8, 2008 news release).
The Orbit claims are adjoining the Belmont/Montoro (982 ha) Crackingstone Uranium Property. In 2008 the Companies completed a $1.2 million Phase 1 (20 hole-3,075 m) drilling program which tested and confirmed the presence of uranium mineralization for a strike distance of 1800 meters (1.12 miles). The most significant results were obtained in hole C-14 encountering 3.0m of 0.36% (7.19 lbs./t) including 1.7m assaying 0.633% (12.66 lbs./t), including 0.3m assaying 2.087% (41.74 lbs./t) U3O8, and 0.5m assaying 0.873% (17.46 lbs./t).
About International Montoro Resources Inc.
International Montoro Resources is focused on advancing its 100% optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont (50/50) of its Crackingstone –982 ha & Orbit -11,109 ha properties in the Uranium City District - Northern Saskatchewan. The Company also holds interests in the Cup Lake/Donen uranium project in south-central British Columbia and two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador.
For further information phone 604-683-6648, visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php), or contact Chris Haldane at CHF Investor Relations at 416-868-1079, ext. 237.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
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