International Montoro Resources Inc.

International Montoro Resources Inc.

January 26, 2010 09:00 ET

Montoro Acquires Contiguous Claims to Spectrum Mining Corp.'s Recently Reported Rare Earth Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2010) - International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT))(PINK SHEETS:IMTFF)(FRANKFURT:O4T) has acquired 1,818.6 ha. (4 claims - Chuchinka Property) contiguous to and adjoining Spectrum Mining Corp's recently reported rare earth discovery, located 80 km northeast of Prince George, B.C. via Hwy.97, then east along the all weather Chuchinka Forest Service Road.

In late October, Spectrum Mining reported significant rare earth element mineralization on its Wicheeda carbonatite-syenite breccia intrusive complex rare earth discovery. Highlights included a 48.64 metre interval which averaged 3.55% rare earth elements ("REE"), a 72.0 metre interval that averaged 2.92% REE, and a 144 metre interval which averaged 2.20% REE in three separate drill holes. (click on attached link to 5th Annual Minerals South Conference In 2009, eleven NTW diamond drill holes totalling 1835 m were drilled in the "Main Zone" from 2 new drilling platforms on Wicheeda. All eleven drill holes intersected significant rare earth mineralization and the Wicheeda deposit remains open in all directions.

World recognized carbonatite-rare earth mineralization specialist Anthony Mariano visited the Wicheeda project during the 2009 drilling program and has subsequently examined drill core samples as well as rock samples that he collected on the site. His analytical work including SEM and cathodoluminescense indicates that the Wicheeda mineralization is mainly quite coarse grained (0.2 m to 0.5 mm) monazite and a bastnaesite-synchisite mineral. He has also conducted a bench scale heavy liquid and magnetic separation study on a composite sample of Wicheeda drill core and was able to produce a high grade REE concentrate that contained 56.09 wt. %REE. This test indicates that the Wicheeda rare earth mineralization is simple and easy to produce a marketable concentrate from compared to most other world rare earth deposits including the dormant world class rare earth mine at Mountain Pass in California. By also applying a flotation circuit it should be easy to produce a 60% LREE concentrate from Wicheeda which would exceed the concentrate grade from Mountain Pass which for over 40 years was the main North American supplier of rare earth products to the world.

Several other companies have joined the search for an extension of the Wicheeda rare earth discovery. Commerce Resources Corp. ("CCE") and Canadian International Minerals Ltd. ("CIN") also reported encouraging results in their 2009 rock, silt and soil sampling program including a new anomaly that exceeded the detection limit of greater than 1% cerium, indicative of light rare earth content, and 309 ppm gadolinium, indicating the presence of heavy rare earths. Zimtu Capital Corp. ("ZC") also owns claims adjoining the Montoro claims to the north and west.

The terms of the agreement are as follows:

  • The company is to pay the vendor(s) the sum of $12,000 upon execution of the agreement (paid) and a further $38,000 upon TSX Venture Exchange approval.
  • The Company will issue to the vendor(s) 500,000 units at an agreed price of $0.05 per unit within five days of TSX approval. Each unit comprises one common share of IMT and one common share purchase warrant entitling the holder thereof to purchase one additional common share of IMT for a period of two years at a price of $0.10 per share in the 1st year and $0.15 per share (1/2 warrant) in the 2nd year.
  • The Company will issue to the vendor(s) a further 500,000 units as above within six months anniversary of TSX approval.
  • The vendor(s) will retain a 2% net smelter return (NSR) royalty under standard industry terms with a 1% buyout for $1 million.

The Company will pay a finder's fee or commission of 8% in accordance with the policies of the TSX Venture Exchange.

REE's are critical components in many high-tech applications including hybrid motor vehicles, flat screen monitors, high-power magnets, consumable electronics (Blackberries, iPods, DVDs, cellular phones), green energy technology, fibre optics, super alloys for the aerospace and building industries, medical and dental lasers. But even more critical as far as Western governments are concerned is their use in high-tech strategic military and defense weaponry. Guided missiles and other precision weapons, for example, rely on rare earth metals and magnets to help direct their course. Although demand for REE's is growing rapidly, over 90 percent of global production is controlled by China, which has recently imposed restrictions on their exports.

With insatiable consumer demand for high tech electronics, clean energy mandates from countries around the globe and out-of-control military spending, it seems likely that demand will only increase as supplies are threatened. This is the recipe for much higher prices in rare earths and the companies that develop them.


The Company has granted 1,800,000 incentive stock options to directors, officers and consultants under its Stock Option Plan for a period of three years at a price of $0.10. All securities issued are subject to regulatory approvals and the Company's Stock Option Plan.


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 and watch the Smartstox interview with President Gary Musil (

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.

Contact Information

  • International Montoro Resources Inc.
    Gary Musil
    President, CEO/Director
    (604) 683-6648
    (604) 683-1350 (FAX)