October 23, 2006 11:29 ET

AntOro Signs Option Agreement for Property in Opinaca, Quebec

MONTREAL, QUEBEC--(CCNMatthews - Oct. 23, 2006) - AntOro Resources Inc. (TSX VENTURE:ORE) is pleased to announce the signature of an arm's length option agreement to acquire the "VIRGINIA" poly-metallic exploration property in the Opinaca area, Quebec.

The VIRGINIA property located in the Opinaca area, north of Matagami (Quebec) consists of 149 "CDCs" (Map Designated Claims) covering 7,777.8 hectares (sheet # 33C/10). The property has optioned the property from 157337 Canada Inc., Val d'Or, QC, and 9112-2192 Quebec Inc., Longueuil, QC.

AntOro has the option to acquire 100% of the property for a total cash consideration of: $15,000, $7,500 payable upon approval from the regulatory authorities and $7,500 on the 1 year anniversary of the transaction; and the issuance of 950,000 common treasury shares upon approval of the transaction.

The Virginia property is interesting due to its close proximity to the Goldcorp-Virginia Gold Mines Eleonore project (40 km east of the AntOro property), Beaufield Resources, Azimut and Eastmain Resources gold discoveries. The property is underlain by paragneisses and syntectonic intrusions similar to those found on neighbouring properties and most notably, those found on the Goldcorp-Virginia Eleonore Project. An analysis of the regional airborne mag survey has identified a geological structure on the property that is similar to the structure that seems to control Virginia's Eleonore project.

Benoit Violette, director of AntOro, a Qualified Persons under National Instrument 43-101, has reviewed this press release after it was prepared by AntOro's management.

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

Contact Information

  • AntOro Resources Inc.
    Francois C. Desrosiers
    514-982-6044, ext 225