06:22:38 EDT Mon 19 Aug 2019
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International Montoro Resources Inc (2)
Symbol C : IMT
Shares Issued 37,157,105
Close 2019-07-23 C$ 0.04
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Int'l Montoro increases Wicheeda N. by 131.24 hectares

2019-07-24 09:17 ET - News Release

Mr. Gary Musil reports

MONTORO UPDATES GROUND EXPLORATION PROGRAM & INCREASES LANDHOLDINGS ON ITS WICHEEDA NORTH RARE EARTH ELEMENTS PROJECT, B.C. CANADA

Further to International Montoro Resources Inc.'s news releases of June 4, 2019, considerable progress has been made on soil and rock sampling on various grids at its Wicheeda North (rare earth element) project to cover anomalies outlined by the previous airborne survey and in the recently completed 3-D geophysical inversion report. Robert (Bob) Lane has recently submitted 535 samples to MSALABS in Langley, B.C., for analysis.

Robert (Bob) Lane, MSc, PGeo, reported, "The property has the potential to host, and should continue to be explored for, rare earth element (REE) mineralization because it occurs within a favourable geological belt known to contain carbonatite-hosted REE mineralization such as the Main zone on the Wicheeda (Defense Metals Corp.) property located to the southeast."

Wicheeda North claim block increased by 131.248 hectares

The claim block originally consisted of four contiguous MTO cell claims that covered approximately 1,444.06 ha; and then expanded to the east by a further four contiguous MTO cell claims of 562.59 ha for a total of 2,006.65 ha. The company has now acquired one additional claim -- 131.248 ha adjoining the claim block on its northwest corner for a total of 2,137.901 ha. The total claim block now takes in a larger portion of the claim area that was previously surveyed in 2010 by Aeroquest, when previously owned by IMT. That program consisted of 654 line kilometres of AeroTEM helicopter-borne, time domain electromagnetic plus radiometric surveying flown at high resolution (50-metre line spacing).

Mr. Lane has extensive experience in this area as he previously managed the adjacent Wicheeda 19-hole diamond drilling projects in 2008 and 2009 for Spectrum Mining; and recently assisted in the compilation and completion of a National Instrument 43-101 technical report for First Legacy Mining (now Defense Metals Corp.).

NI 43-101 disclosure

Robert A. (Bob) Lane, MSc, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information above in this news release.

China-U.S. trade tactics continues to draw attention to rare earth elements

Rare earth elements (REEs) are vital to several categories of modern essentials including military defence. Every advanced weapon in the U.S. arsenal -- from Tomahawk missiles to the F-35 fighter jet to aegis-equipped destroyers and cruisers and everything in between -- is absolutely reliant on components made using REEs, including critical items such as permanent magnets and specialized alloys that are almost exclusively made in China.

The 17 REEs comprising the lanthanide metals plus scandium and yttrium, comprise essential components for a host of modern necessities including cellphones, computers and numerous communication devices, electric vehicles, batteries, renewable energy, military defence and avionics systems.

Wicheeda area updates

Defense Metals has received further successful metallurgical test results (80-per-cent recovery of cerium, lanthanum and neodymium oxides) for its Wicheeda rare earth element property from SGS Canada Inc. Results from the initial 21 of a planned 25 batch flotation tests completed to date during 2019 showed progressive improvements from early-to late-stage testing. See DEFN news release date June 20, 2019, for further details.

DEFN announced it has received a mineral exploration permit from the B.C. Ministry of Energy, Mines & Petroleum Resources that allows for the establishment of additional separate drill site locations at Wicheeda. Each individual drill pad site may be used for multiple diamond drill holes if warranted. See DEFN news release dated May 6, 2019, for further details.

About International Montoro Resources Inc.

  1. In February, 2019, Montoro entered into acquisition agreements with various vendors, to acquire claims in the Cariboo mining division, British Columbia, and following exchange approval on the Wicheeda North claims (1,444 hectares), the company has increased the claim blocks by a further (694 ha) for a total 2,138 ha.
  2. Montoro will continue to focus on advancing its 100-per-cent-owned Serpent River-Elliot Lake, Northern Ontario, Pecors magnetic anomaly -- a potential nickel-copper-platinum-group-element discovery. The southwestern portion of the property has located uranium/REE mineralization from previous drilling in the general area where Rio Algom discovered uranium. The property comprises 10 mineral claims (115 units), or approximately 1,840 ha.
  3. In February, 2018, Montoro received approval for the acquisition of the Duhamel, Que., property. The Ni-Cu-Co prospect consisted of nine mineral claims comprising 500 ha. Additional staking of 32 adjoining mineral claims and compiling of data has been under way since February; and the expanded property now totals approximately 2,300 ha and prospective for titanium, vanadium and chromium.
  4. In addition the company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 ha, 2,427 acres) uranium properties in the Uranium City district, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.

We seek Safe Harbor.

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