Int. Montoro Resources - Arranges Demand Loan For $35,000

Posted: July 20, 2018

July 20, 2018 - International Montoro Resources Inc. (TSX-V: IMT) (the “Company”) has arranged a demand loan for $35,000 from a non-related party.

The proceeds of the loan are to be used for exploration expenditures relating to the Serpent River, Pecors survey.

The loan bears interest at 1.5% per month.  In consideration for the loan, the Company has also agreed to issue 140,000 bonus common shares, at a deemed price of $0.05 per share.  The loan and issuance of bonus shares are subject to regulatory approval, and the shares issuable pursuant to the agreement will be subject to a four month +1 day hold period from the date issued.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100%-owned Serpent River - Elliot Lake, Northern Ontario, Pecors magnetic anomaly - a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located Uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha

In February 2018 Montoro received approval for the acquisition of the Duhamel, Quebec property.  The Ni-Cu-Co prospect consisted of nine (9) mineral claims comprising 500 ha.  Additional staking and compiling of data has been underway since February, and an updated report of these findings is forthcoming.

In addition the Company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) and Orbit (11,109 ha, 27,450 acres) Uranium properties in the Uranium City District, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

 

ON BEHALF OF THE BOARD

“Gary Musil”

Gary Musil,

President/CEO and Director

 

Disclaimer for Forward-Looking Information:

Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future.  Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.  No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

Neither 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.

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