ANTORO RESOURCES INC.
TSX VENTURE : ORE

ANTORO RESOURCES INC.

October 30, 2006 10:36 ET

AntOro Resources : Gilles Provost Named Director and Annual and Special Shareholder Meeting to be Held on November 28, 2006

MONTREAL, QUEBEC--(CCNMatthews - Oct. 30, 2006) - AntOro Resources Inc. (TSX VENTURE:ORE) is pleased to announce nomination of Gilles Provost, M.Sc.A., professional geologist, a member of AntOro Resources' Board of Directors.

M. Provost brings to AntOro a long and fruitful carreer as a geologist. Since graduating in 1979, from the Ecole Poly-Technique, University of Montreal, he has been active in mineral exploration in various functions including being vice-president exploration for Ressources Maufort inc., Charlim Exploration inc., ORMICO Ressources Inc. He also completed various mandates for Soquem Inc. and SEREM, two important mining corporations. He is currently president of Ressources Affinor inc. and v-p exploration for Pro-Spect-Or Resources. Both of these companies are actively exploring in Canada and Africa. AntOro welcomes Mr. Provost to the Board and is looking forward to working with him.

The Corporation has also sent out the various documents for the upcoming Annual and Special Shareholders Meeting. It will be held in Montreal, QC, on November 28, 2006. In addition to the usual topics treated at such meeting, AntOro is also presenting two (2) Special Resolutions for shareholders' acceptance. The first one is to obtain approval to increase the number of shares that can be issued under its Share Option Purchase Plan to 10 million shares from the current 4.5 million shares. Since the Corporation has in excess of 78 million shares outstanding this would represent less than 13.4% of the outstanding share float, which is within TSX-Venture guidelines.

The second resolution is to approve a settlement entered into with subscribers of some 1999 and 2000 flow-through shares private placements who were the object of re-assessments from Canada Revenue Agency, since the exploration funds they advanced were used for corporate purposes. This resolution calls for the issuance of 4,217,232 at a unit price of $0.05 per share. The total value of the re-assessment is $210,867. This settlement was publicly announced on February 15, 2006. This settlement has been conditionally approved by the TSX-Venture Exchange. It must be approved by the majority of the shareholder votes at the Annual and Special Meeting that are not part of this settlement.

In both cases Management recommends acceptance of these Resolutions by the shareholders.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.

Contact Information

  • AntOro Resources Inc.
    François C. Desrosiers
    514-982-6044, ext 223
    www.antoro.com