Mr. Karim Rayani reports

MONTORO ARRANGES $500,000+ (OVERSUBSCRIBED) FINANCING

International Montoro Resources Inc. has received conditional approval to the private placement of $500,000 and is pleased to announce that, due to increased investor interest in the company, it has been successful in raising up to $618,000 (oversubscribed), to issue 8.24 million units at a price of 7.5 cents. Each unit will comprise one common share in the capital of the company and one transferable warrant. Each whole warrant will permit the holder to acquire one additional common share of the company at a price of 10 cents for two years from closing.

The use of proceeds will be for continued exploration on existing properties, outstanding payables and general working capital purposes.

While the company intends to use the proceeds as stated above, there may be circumstances where, for sound business reasons, funds may be reallocated at the discretion of the board.

Insiders participated in this private placement offering (500,000 units), constituting a related-party transaction pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company relied on Section 5.S{a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7{l){a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction did not exceed 25 per cent of the company's market capitalization.

All securities issued under this private placement, and the shares that may be issuable on the exercise of the warrants, are subject to a statutory hold period expiring four months and one day from issuance. The company will now be applying to the TSX Venture Exchange to close the private placement financing and the issuance of the securities.

About International Montoro Resources Inc.

International Montoro is a Canadian-based emerging resource company. The company is systematically exploring its extensive property positions in:

• Red Lake, Ont. (Camping Lake: gold prospect);
• Elliot Lake, Ont. (Serpent River/Pecors: nickel-copper-platinum-group-element discovery and uranium rare earth elements);
• Quebec (Duhamel: nickel, copper and cobalt prospect and titanium, vanadium and chromium prospect);
• Prince George, B.C. (Wicheeda North: rare earth element prospect).

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