IMT News,, benefits BEA !!!!INTERNATIONAL MONTORO RESOURCES INC. - TSX: IMT
#600 - 625 Howe Street, Vancouver, B.C. V6C 2T6
NEWS RELEASE
August 20, 2007
MONTORO COMPLETES FIRST STAGE CASH AND SHARE ISSUANCE ON CUP LAKE/DONEN URANIUM DEPOSIT
International Montoro Resources Inc. (“IMT”) announces that further to the TSX Venture Exchange (the “Exchange”) bulletin dated July 27, 2007 the Company has made the first stage cash payment of $250,000 and issued 2,000,000 common treasury shares to the Vendors. All common shares issued under the purchase agreement have a statutory four month hold period expiring November 28,2007.
Following completion and acceptance for filing of a NI 43-101 Technical Report (the “Report) dated May 31,2007, by Dr. Peter A. Christopher, PhD., P.Eng., on the Cup Lake/Donen (“Cup Lake”) uranium properties, the Exchange accepted for filing a purchase agreement, dated December 8,2006, between IMT, Anthony Beruschi, Magic Dragon Ventures Ltd., Power Resources Corp. and 533532 B.C. Ltd. (collectively the “Vendors”) pursuant to which IMT has the option to acquire up to a one hundred percent (100%) interest in Cup Lake located in the Greenwood Mining Division in south-central British Columbia.
The Cup Lake uranium deposit is covered by 11 claims totalling 1026.2 ha and starts about 2.5 km SSW of the Blizzard Uranium deposit. Cup Lake is about 52 km southeast of Kelowna and 21 km northeast of Beaverdell, British Columbia. The Cup Lake/Donen, and nearby Blizzard, Fuki, Haynes Lake, and Hydraulic Lake uranium deposits have been classified as a basal type deposit (Christopher and Ballantyne, 1976) and as a channel conglomerate type (McMillan, 1978). The term ‘basal type’ uranium deposit is applied to these deposits because they often occur in a basal sequence of gravel and sands overlying a major unconformity and are below or at the base of a trapping impermeable layer.
Dr. Christopher recommends a success contingent staged evaluation program for further testing uranium mineralization. IMT is reviewing the recommendations and considering the program for a fall 2007 review. IMT has completed the acquisition and digitizing of previous drill data for calculation of current resources and further planning as recommended.
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, its Cup Lake/Donen uranium project in south-central British Columbia, and its Crackingstone (50/50 with Belmont Resources Inc.) Uranium City area 750 ha property in Northern Saskatchewan.
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.V: CXX) and staked further claim blocks in the Uranium City District in Northern Saskatchewan (recently optioned the Orbit Lake-11,109 ha block to Ultra Uranium (TSX.V:ULU). The uranium market continues to experience a strong upward price trend due to limited 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.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
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