Mr. Karim Rayani reports

MONTORO RECEIVES DRILL PERMIT EXTENSION ON ITS PECORS (NI,CU,PGE) MASSIVE SULPHIDE PROJECT, ELLIOT LAKE, ONTARIO

International Montoro Resources Inc. has received an extension to its drilling permit from the Ministry of Energy, Northern Development and Mines (ENDM) for its 1,840-hectare Pecors nickel-copper-platinum group element (Ni-Cu-PGE) project near Elliot Lake, Ont. The exploration permit will allow the company to delineate the extent of nickel, copper and PGM mineralization discovered in 2015 diamond drilling and VTEM survey on the Pecors anomaly. Past exploration and geophysical interpretation by the company has outlined a significant 5.7-kilometre-long-and-4.2-kilometre-wide anomaly to be tested by drilling under the exploration permit extension. Sampling of diamond drill core in 2015 (DDH P-15-23) intersected a mineralized zone near the anomaly over 12 metres averaging 0.33 gram per tonne (g/t) total precious minerals (TPM), 0.11 per cent copper (Cu) and 0.04 per cent nickel (Ni) (see press release dated Oct. 22, 2020).

The Pecors anomaly is a strong regional magnetic high that extends for 18 kilometres (km) southeast-northwest and up to four km wide. The anomaly is located 15 km from the East Bull intrusive suite where recent drilling by Grid Metals Corp. recently intersected 119 metres (m) of 1.13 g/t palladium equivalent (PdEq) (see press release date Dec. 3, 2020). Canadian Palladium's recent drilling results (see press release dated Dec. 4, 2020) reported a five-metre intersection grading 5.1 g/t PdEq from its East Bull property. This result appears to be an extension to its National Instrument 43-101-compliant inferred resource estimate of 11.1 million tonnes grading 1.46 g/t PdEq.

The Pecors anomaly is mostly overlain by Huronian-aged sediments. The source of the magnetic anomaly has now been confirmed to be at least partially comprise lithologies of gabbroic affinity by International Montoro drilling in 2015. These gabbroic rocks are similar in nature to the East Bull intrusive suite and may represent an additional source of PGE-bearing mineralization that is found throughout the Sudbury region.

Karim Rayani, president and chief executive officer, commented: "The drilling permit extension will enable us to return to our Pecors Ni-Cu-PGE project to investigate the extent and nature of the 2015 significant results. This appears to be a new source of PGE mineralization within an area close to the success of Grid Metals and Canadian Palladium."

Qualified person

Mike Kilbourne, professional geoscientist, an independent qualified person as defined in National Instrument 43-101, has reviewed and approved the technical contents of this news release on behalf of the company.

About International Montoro Resources Inc.

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

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

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