Montoro Pecors Drilling & 2nd Tranche Financing Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 6, 2015) - International Montoro Resources Inc. (TSX VENTURE:IMT), (the "Company" or "Montoro").
Pecors Drilling Update
The Company has been informed by Don Hawke, P.Geo., Consulting Geologist, that Orbit Garant Drilling Services Inc. of Val D'Or, Quebec is continuing on schedule. Pecors Hole #1 was reported to be at a depth of 460m as of 7:00 a.m. EST on Friday April 3rd.
The drilling started in the Pecors geological formation, then Ramsey Lake and now in the Matinenda formation. Drilling has encountered some quartz pebble conglomerates around 450m and core logging is continuing.
The above information has been reviewed and approved by Don Hawke, MSc., P.Geo. Consulting geologist and a qualified person as defined in NI 43-101.
2nd Tranche Financing Update
The Company has closed the 2nd tranche of the December 11, 2014 and January 19, 2015 previously announced financing and anticipates completing a 3rd and final tranche in the next few weeks. The Company is filing for approval subscriptions for 2,422,000 Units for gross proceeds of $169,540. Each Unit is comprised one common share ("Common Share") of Montoro and one transferable share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.10 for a period of 12 months from the exchange approval closing date of the 2nd tranche and at $0.14 in the second year from closing.
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 discovery. The southwestern portion of the property has also located Uranium/REE mineralization from drilling in the general area where Rio Algom previously discovered uranium. The property comprises 10 mineral claims (115 units) approx. 1,840 ha.
Montoro holds a 100% interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka property) contiguous to and adjoining the Wicheeda, a previously reported Rare Earth discovery, northeast of Prince George, B.C. Montoro also holds a 100% interest in 3 mineral claims (160 ha) in the Tacheeda Lake camp. This property was previously a producing site of limestone ballast used during the construction of the B.C. Northern railway.
In addition the Company owns with Belmont Resources Inc. (50/50) its Crackingstone - 2,427 acres (982 ha) and Orbit -27,450 acres (11,109 ha) 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 OF DIRECTORS
Gary Musil, President, CEO/Director
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.
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.
Contact
International Montoro Resources Inc.
(604) 683-6648
(604) 683-1350
montoro@telus.net
www.MontoroResources.com
