March 20, 2006 14:32 ET

AntOro Signs Option Agreement on 2 Uranium Properties in Quebec

MONTREAL, QUEBEC--(CCNMatthews - March 20, 2006) - AntOro Resources Inc. (TSX VENTURE:ORE) is pleased to announce the signature of an option agreement to acquire 100% interest in two (2) Uranium properties in Quebec.

The first is the Andy Lake property, located directly east and contiguous to NOVA Uranium's Mont Laurier Uranium property. The Andy Lake property consists of 9 CDC cells (Map Designated Claims) covering 460.89 Hectares (see sheet # 31J/14).

The second is the Maro property located in the Seigneury Township of the Otish Mountains, consisting of 10 CDC cells covering 590.4 hectares (see sheet # 33F/10). Both properties have been optioned from Fayz Yacoub, (P. Geo), of Surrey, B.C. Mr Yacoub is also the owner of the neighbouring Mont Laurier uranium property that has been optioned to Nova Uranium.

To acquire 100% of both properties AntOro must spend $600,000 in work commitment over 3 years from the date of regulatory approval of the transaction, the payment of : $10,000 and the issuance of 450,000 common treasury shares upon approval of the transaction; on January 1, 2007, a payment of $10,000 and the issuance of an additional 450,000 common shares; on January 1, 2008, a payment of $20,000 and the issuance of 600,000, and on January 1, 2009, a final payment of $25,000 and the issuance of 600,000 common shares.

A 2% NSR on precious and base metals production as well as on the sale of Uranium is payable upon production. 1.5% of this NSR can be bought back by AntOro for $1.5 million.

The exploration programs on the property will be jointly decided by AntOro and Mr. Yacoub. Mr. Yacoub, through his company On Track Exploration will grant all the fieldwork on both properties and will act as exploration operator.

Several uranium occurences have been delineated on the Andy Lake property. The property is located directly east and contiguous to Nova Uranium's Mont-Laurier property. Nova holds a significant number of claims in the area and recently staked additional ground in this emerging uranium district.

The Maro property offers a high exploration potential based on previous sample results. Selected rock sampling completed on the property returned 14.72% U or 17.36% U308 (GM 50022). Previous drilling on the Maro property returned 610 ppm U over 17 metres and 0.3% U over .46 metre (GM 34121 and 37017).

The mineralization on this property consists of pitchblende, uraninite and brannerite with minor chalcopyrite, pyrite and pyrrhotite as well as native Selenium.

This press release was reviewed and verified by Mr. Benoit Violette, director of AntOro. Mr. Benoit Violette is a Qualified Person under National Instrument 43-101.

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