News: International Montoro

705 views

Published on

News release from International Montoro Resources Inc. (TSXv: IMT)

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
705
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

News: International Montoro

  1. 1. #600-625 Howe Street TSX.V: IMTVancouver, B.C. V6C 2T6 FRANKFURT : O4TPh. (604) 683-6648 OTC: IMTFF.PKFax: (604) 683-1350 MONTORO TO ADVANCE ITS CLAIM WITH THE B.C. GOVERNMENTOctober 21, 2011, Vancouver, BC, Canada - International Montoro Resources Inc. (“Montoro”) (TSX-V:IMT). Boss Power Corp. has announced the material terms of a settlement with the Province of BritishColumbia in the amount of $30 million plus costs and disbursements in return for the surrender or transfer ofthe Blizzard mineral claims to the province. Montoro is now advancing its claim against the government forthe expropriation of its Cup Lake/Donen uranium claims immediately adjacent to Boss Power’s Blizzarduranium property.In July, 2009, Montoro filed a Statement of Claim in the Supreme Court of British Columbia seekingcompensation for the “expropriation” of the Cup Lake/Donen property. Montoro has incurred and paid inexcess of $1.93 million in mineral property acquisition costs and expenditures to date on the CupLake/Donen project.The Cup Lake/Donen uranium deposit occurs within a northwest trending paleochannel adjacent to the Blizzarduranium deposit. The Blizzard deposit was reported to host a historical indicated resource of 1.9 mil tonnesgrading 0.247% U3O8 (approx. 10.4 mil lbs.) Montoro’s Cup Lake/Donen deposit was estimated to contain ahistorical resource of 2.25 million tons grading 0.0373% U3O8 (approx. 1.68 mil lbs.- as reported in B.C.Government-Minfiles & Assessment Report #8105). The historical resource cited above predates and thereforedoes not conform to the more stringent reporting requirements of National Instrument 43-101. A work andevaluation program for further testing of the uranium mineralization was planned prior to the Province of B.C.ban.Montoro remains committed to the exploration for uranium as an alternative energy source to promote thereduction of greenhouse gases. Montoro has been advancing its uranium projects in two other uraniumfriendly Provinces of Saskatchewan and Ontario. Montoro is also exploring the future of rare earth elementsin British Columbia and Ontario.
  2. 2. About International Montoro Resources Inc.Rocky Mountain Rare Metal Belt:Montoro recently acquired an additional 11 claims -4,278.52 hectares (the “Rocky” group) adjoining andsurrounding its Tacheeda Lake claims. Montoro owns a 100% interest in 12 mineral claims prospective forRare Earth Elements, in 2 separate claim blocks covering 11,500 acres (4,654 ha), in the new Tacheeda Lakecamp and Carbo area. Montoro also holds a 100% interest in 5,604 acres (2,268 ha , 5 claims – the Chuchinkaproperty) contiguous to and adjoining the Wicheeda, a recently reported Rare Earth Element discovery,northeast of Prince George, B.C.Elliot Lake, Ontario:Montoro is also focused on advancing its 100% owned Elliot Lake uranium/REE project in northern Ontario.The Company is also further investigating a very positive interpretation of a large airborne anomaly, nearPecors Lake in the northwest corner of our Serpent River property.Saskatchewan & Labrador:Montoro will continue the development with Belmont Resources Inc. (50/50) of its Crackingstone – 2,427 acres(982 ha) and Orbit –27,450 acres (11,109 ha) uranium properties in the Uranium City District – NorthernSaskatchewan. The Company also holds two claim blocks (50/50 with Belmont) in the Central Mineral Belt inLabrador, one of which is located in the historical Letitia Lake-Red Wine rare earth metals camp of west-centralLabrador.For further information contact Ethos Consulting Ltd. (Investor Relations) at 1-888-818-1365 or phone theCompany at 604-683-6648. Also visit the Company website at www.MontoroResources.com and watch theSmartstox interview with President Gary Musil (www.smartstox.com/interviews/imt).ON BEHALF OF THE BOARD OF DIRECTORS,“Gary Musil”Gary Musil, PresidentCEO/DirectorNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Thestatements used in this Press Release may contain forward-looking statements that may involve a number ofrisks and uncertainties. Actual events or results could differ materially from the Companies forward-lookingstatements and expectations.

×