VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - International Montoro Resources Inc. (TSX VENTURE:IMT)(FRANKFURT:O4T), "Montoro" or the "Company") announces that an airborne VTEM survey has been completed as part of Montoro's expanding exploration program to target higher grade remobilized uranium at its Serpent River, Elliot Lake uranium project in Northern Ontario.
Montoro's recently completed Phase One drilling encountered a highly altered and mineralized, unsorted, heterolithic breccia unit (HBU) at or near the unconformity between the Huronian sediments and the older Archean greenstone basement. The alteration and mineralization of this HBU suggests that it formed a permeable horizon that provided a conduit for the flow of hydrothermal fluids possibly carrying uranium. The breccia appears to follow an east - west fault zone postulated by Robertson (1958) who mapped the area for the Ontario government. Earlier mineralogical analyses and assays have indicated that the HBU can host remobilized uranium mineralization, suggesting the potential to discover a zone with higher grades than the historical grades mined in conglomerates in the Elliot Lake area.
The airborne "VTEM" electromagnetic data will be analysed for conductors, representing possible sulphide or graphitic zones that may signify reductants capable of concentrating remobilized uranium. Preliminary plots of this data reveal the existence of at least 8 conductors in areas underlain by Huronian sediments. There are no known conductive units in the sediments in this area suggesting that the conductors may be caused by features in the greenstone basement rocks. A more detailed analysis of the geophysical results will be undertaken when the final plots are received from the contractor.
As a result of the Phase One drilling program and the airborne survey, Mr. D.Hawke, M.Sc.,P.Geo., consulting geologist has recommended an additional 30 holes (approx. 6000 metres) to be drilled commencing as early as February 2008. A further 6 - 8 holes to be drilled into the HBU and associated fault, 12 holes continuing to infill the former Rio Algom drilling in the Pecors channel, and 8 - 10 holes on targets outlined from the airborne survey. The estimated cost of this enhanced drill program is $900,000 - $1 million.
The Company's exploration work on the Serpent property is supervised by D. Hawke, M.Sc., P.Geo. consulting geologist and a qualified person as defined in NI 43-101. This press release has been reviewed and approved by D. Hawke, P.Geo.
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 (U)3(0)8 (from stratigraphically-bound deposits that) demonstrate remarkable consistency over extensive areas.
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.V:CXX) and two claim blocks (Crackingstone-982 ha & Orbit Lake-11,109 ha) in the Uranium City District in Northern Saskatchewan (recently optioned the Orbit -11,109 ha block to Ultra Uranium (TSX.V:ULU). Through project generation and additional discoveries, Montoro will provide shareholders with exposure and leverage to the rising global demand for uranium.
ON BEHALF OF THE BOARD OF DIRECTORS,
Gary Musil, President CFO/Director,
For further information visit the Company's website at www.montororesources.com and watch the Smartstox interview with President Gary Musil, or contact:
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 Company's forward-looking statements and expectations.
FOR FURTHER INFORMATION PLEASE CONTACT:
International Montoro Resources Inc.
(604) 683-1350 (FAX)
CHF Investor Relations
Associate Account Manager
(416) 868-1079 ext. 229
CHF Investor Relations
(416) 868-1079 ext. 231