International Montoro Resources Inc.
TSX VENTURE : IMT
FRANKFURT : O4T
PINK SHEETS : IMTFF

International Montoro Resources Inc.

March 29, 2010 09:00 ET

Montoro Commences Drilling on Its Serpent River Uranium & Ree Property in Elliot Lake, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2010) - International Montoro Resources Inc. (the "Company") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) is pleased to announce the commencement of Phase 2 drilling on the Company's Serpent River property. The property is located about 13 km east of the town of Elliot Lake, that was the center of Rio Algom's uranium production in the area from the 1950s through the 1970s.

More Core Drilling Ltd. commenced drilling on the property for an estimated 15 – 20 drill holes totalling approximately 3,000 meters. This 2nd Phase drilling is targeted to explore a new style of mineralization not previously recognized in the Elliot Lake area and it is a significant target upon which to focus our efforts. The drill core will be assayed for both the Uranium and REE contents. Results will be announced following receipt of assays and compilations.

Rio Algom's exploration work in the 1970s at Montoro's Serpent River property focused on the Pecors Channel and the Whiskey Channel and their quartz-pebble conglomerate beds – the host formation for the known uranium mineralization in the Elliot Lake camp. Rio Algom developed a historic resource (predating NI 43-101 standards) of 20 million tons grading 0.037% U3O8, or 14.8 million pounds in the Pecors East deposit, based on limited drilling.

Montoro's 1st phase 2,755 m drill program at Serpent River found uranium values in three different lithological environments. Of the five holes that intersected the mineralized quartz pebble conglomerate (QPC), assays were consistent with the average historical grades, but below the conglomerate beds IMT intersected mineralized aplite dykes and sills, as well as highly altered mineralized breccia at the unconformity between the Archean basement rocks and overlying Proterozoic sediments.

Intersections from the beccia zones (graded as high as 0.089% U3O8) occurred near an east-west trending fault zone that has been traced over a length of some 700m and is open in both directions. The alteration and mineralization of this breccia unit suggests that it formed a permeable horizon that facilitated the flow of the hydrothermal fluids possibly carrying uranium.
The area where this fault zone cuts the breccia unit will be probed to determine if it contains enhanced uranium values.

In November 2009 IMT re-assayed certain drill intersections, and six holes spanning an area of about 550m by 300m, returned significant concentrations of rare earth oxides – total REE plus Yttrium (see November 25, 2009 news release).

This press release has been reviewed and approved by Don Hawke, M.Sc., P.Geo., consulting geologist and a qualified person as defined in NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS,

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 will continue the 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 two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador. Montoro recently acquired 2268 ha (5 claims – the Chuchinka property) contiguous to an adjoining a recently reported Rare Earth discovery, northeast of Prince George, B.C.

For further information phone Bid Capital at 514-845-1101 or the Company at 604-683-6648. Also visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php).

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)
    www.montororesources.com