International Montoro Resources Inc.: Drill Rig Arrives and Mobilizing to Pecors Site
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2015) - International Montoro Resources Inc. (TSX VENTURE:IMT), (the "Company" or "Montoro").
The Company has been informed that Orbit Garant Drilling Services Inc. of Val D'Or, Quebec arrived yesterday at Elliot Lake airport. The transporting by helicopter of the drill rig and materials about 9 km to the Pecors Anomaly drill site is underway and setup to commence drilling should be completed by tomorrow.
Financing:
The Company is continuing to receive subscriptions for a 2nd tranche of the private placement for additional funds for the Pecors drilling program and working capital.
Each unit consists of one common share at a price of $0.07 and one two year 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 closing and at $0.14 in the second year. The Company will pay a finder's fee of up to 7.5% in cash or warrants. All of the securities issued pursuant to the private placement will be subject to a minimum four-month hold period and subject to TSX Venture Exchange acceptance.
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 will 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 hopes to continue its development through joint venture optioning.
For further information contact the Company at 604-683-6648. Also visit the Company website at www.MontoroResources.com.
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