March 3, 2010
Further to the TSX Venture Exchange bulletins dated February 2nd and 25th, International Montoro Resources Inc. (“IMT”) has completed the acquisition of 100 per-cent interest in five claim blocks totaling 2,268 ha, the Chuchinka claims contiguous to and adjoining Spectrum Mining Corp’s –Wicheeda, recently reported rare earth discovery.
In the first acquisition (1,818.6 ha) the Company paid $50,000 cash and will issue an aggregate 1 million common shares and 1 million warrants exercisable for a period of two years at a price of $0.10 per share in the 1st year and will require two warrants to exercise one share at $0.15 in the second year. The Company issued the first 500,000 shares to the vendors, which shares are restricted from trading until June 3, 2010. The Company will issue an additional 500,000 shares August 2, 2010. A finder’s fee of $4,000 and 40,000 shares was also paid and a further 40,000 shares in six months.
In the second acquisition (449 ha) the Company paid $6,250 cash and one issuance of 200,000 common shares and 100,000 warrants exercisable for a period of two years under the same terms as abovementioned. A finder’s fee of $500 and 16,000 shares was also paid. The property payment and finder’s fee shares are restricted from trading until June 26, 2010.
The Company will be commissioning a geological report and recommended work
program for implementing as soon as the property is accessible.
ON BEHALF OF THE BOARD OF DIRECTORS,
”Gary Musil”
Gary Musil, President
CEO/Director
About International Montoro Resources Inc.
International Montoro Resources Inc. is focused on advancing its 100% optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont Resources Inc. (50/50) of its Crackingstone –982 ha and Orbit –11,109 ha uranium properties in the Uranium City District – Northern Saskatchewan. The Company also holds 100% interest 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 ).
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.