Mr. Gary Musil reports

MONTORO CLOSES 1ST TRANCHE OF PRIVATE PLACEMENT FINANCING FOR $83,000 & SHARES FOR DEBT FOR $50,000

Further to its news release dated Aug. 9, 2018, International Montoro Resources Inc. has completed the first tranche of its private placement through the sale of 1.66 million units for gross proceeds of $83,000 at a price of five cents per unit. Each unit will consist of one common share of the company and one transferable share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional share of the company at a price of six cents in the first year from closing and eight cents in the second year.

No finders' fees were payable. The common shares and warrants are subject to a statutory hold period of four months and one day until Jan. 19, 2019.

The company intends to use the net proceeds from the private placement for continued exploration on the Serpent River, Ont., property, in particular the Pecors Ni-Cu-PGE (nickel-copper-platinum-group-element) discovery, and the Duhamel, Que., Ni-Co-Cu (nickel-cobalt-copper) property, on a prorated basis, as previously disclosed in the company's Aug. 9, 2018, news release.

The company is continuing with subscription sales and anticipates closing a second tranche soon.

Shares for debt

The company has also received acceptance for filing from the TSX Venture Exchange to complete a shares-for-debt transaction for the balance of a 2014 loan and interest in the amount of $50,000. The company issued one million shares at a price of five cents per share to settle this debt. The shares-for-debt transaction is also subject to a statutory hold period until Jan. 14, 2019.

About International Montoro Resources Inc.

International Montoro Resources is focused on advancing its 100-per-cent-owned Serpent River-Elliot Lake, Northern Ontario, Pecors magnetic anomaly -- a potential Ni-Cu-PGE discovery. The southwestern portion of the property has located uranium/REE (rare earth element) 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 hectares.

In addition, the company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 hectares, 2,427 acres) and Orbit (11,109 hectares, 27,450 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.