Mr. Karim Rayani reports

MONTORO CLOSES $618,000 OVERSUBSCRIBED FINANCING

Further to its news releases dated Aug. 7, 2020, International Montoro Resources Inc. has closed the private placement and issued 8.24 million units at a price of 7.5 cents for gross proceeds of $618,000. 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. No finders' fees were paid.

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. The company relied on Section 5.S{a) of Ml 61-101 for an exemption from the formal valuation requirement and Section 5.7{l){a) of Ml 61-101 for an exemption from the minority shareholder approval requirement of Ml 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 (Dec. 13, 2020) from issuance. The closing of the private placement financing, including the issuance of the securities, has received TSX Venture Exchange acceptance.

About International Montoro Resources Inc.

International Montoro Resources, listed on the TSX Venture Exchange for over 25 years, 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-cobalt prospect and titanium-vanadium-chromium prospect);
• Prince George, B.C. (Wicheeda North -- rare-earth-element prospect).

We seek Safe Harbor.