International Montoro Resources Inc.

International Montoro Resources Inc.

July 16, 2007 11:08 ET

Montoro Commences First Phase Recommended Program and Prepares for Drilling-Elliot Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2007) - International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT)(FRANKFURT:O4T) has commenced the first phase program as recommended in the NI 43-101 compliant Technical Report (the "Report") on its Elliot Lake uranium properties, more commonly known as the Serpent River property ("Serpent") in northern Ontario, authored by Scott Wilson Roscoe Postle Associates Inc. ("Scott Wilson RPA") dated March 20, 2007.

The Serpent River property is located about 13 kilometres east of the town of Elliot Lake on the south limb of the Quirke syncline and covers approximately 4,000 m of the contact between the Matinenda Formation and the underlying basement rocks. The Elliot Lake mining camp was once known as "the Uranium Capital of the World" and has produced more than 270 million pounds of U308 from stratigraphically-bound deposits that demonstrate remarkable consistency over extensive areas.

The Company has retained the services of Mr. Donald Hawke, Consulting Geologist to assist in coordinating the first phase program. Mr. Hawke and Gregory Campbell (one of the principal owners of the property), over the past several years have gained considerable knowledge relating to the geology and mineral potential of deposits of the Elliot Lake area. Based on their knowledge, expertise, and years of experience, the Consultants have postulated a new model for potential higher-grade uranium mineralization below the stratigraphic horizon hosting the known uranium deposits of the Elliot lake, within the basement rocks. The success of nearby Pele Mountain Resources Inc. (TSX VENTURE:GEM) drilling, has continued to substantiate the higher-grade uranium potential of the Elliot Lake camp.

Mr. Hawke has completed the sourcing, extracting and review of all available exploration files on the property to further compile and validate the historic borehole data and records of analytical data. Mr. Hawke has commissioned Dan Patrie Exploration Services to conduct a search for previous borehole collars on the Serpent to confirm their location and assess the potential to re-enter the holes to conduct radiometric surveys, and to check out access to some of the sites for preparing of the recommended twin hole and exploration hole drilling.

Mr. Hawke has commissioned a drilling contractor and the Company expects to sign a contract for 2400 metres of diamond drilling (approx. 17 holes ranging in depth from 60 to 200 metres) to commence before the end of July.

The Company is also considering contracting of a helicopter VTEM survey to provide additional information on the structure of the Huronian sediments and the Archean basement. This survey may also highlight possible reductant zones that could act as a host for high grade mineralization.

This press release has been reviewed and approved for technical disclosure by Donald R. Hawke, B.Sc., M.Sc. F.G.A.C., P.Geo. of Port Sydney, Ontario, an independent qualified person under NI 43-101.

About International Montoro Resources Inc.

International Montoro Resources is focused on the advancement of its 100-percent optioned Elliot Lake uranium project in northern Ontario and Cup Lake/Donen uranium project in south-central British Columbia. In addition the Company (50/50) with Belmont Resources Inc. has acquired significant uranium properties located in the Central Mineral Belt Uranium District in Labrador (recently optioned to Crosshair Exploration (TSX VENTURE:CXX) and two claim blocks in the Uranium City District in Northern Saskatchewan (recently optioned the Orbit Lake-11,109 ha block to Ultra Uranium (TSX VENTURE:ULU). The properties are positioned such that, in addition to successful exploration by Montoro, successful exploration by Montoro's neighbours and joint venture optionors, will likely raise Montoro's value by association. The uranium market continues to experience a strong upward price trend due to uncertain supply and increasing global demand. Through project generation and additional discoveries, Montoro will provide shareholders with exposure and leverage to this increasing global demand for uranium.


Gary Musil, President, CFO/Director

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • International Montoro Resources Inc.
    Gary Musil
    President, CFO/Director
    (604) 683-6648
    (604) 683-1350 (FAX)
    International Montoro Resources Inc.
    (416) 350-2794