Montoro Terminates Option Agreement With Electric Metals Inc. on Chuchinka, B.C. Property
08 December 2012 - 1:00AM
Marketwired
International Montoro Resources Inc. ("Montoro") (TSX
VENTURE:IMT)(PINKSHEETS:IMTFF)(FRANKFURT:O4T) has given Notice of
Termination to Electric Metals Inc. (TSX VENTURE:EMI) pursuant to
the terms of the Mineral Option Agreement (the "Agreement") on the
Chuchinka Property dated June 9, 2010.
Several terms of the Agreement had not been fulfilled on July
12/12 and following Notice of Default provided on October 29/12,
EMI has failed to comply with those provisions. The Agreement is no
longer in force.
International Montoro Resources Inc. therefore maintains its 100
per cent ownership in the Chuchinka Property.
About International Montoro Resources Inc.
Montoro recently acquired a 100% interest in 23 mineral claims
prospective for Rare Earth Elements, in 2 separate claim blocks
covering 18,743 acres (7,585 ha) in the new Tacheeda Lake camp; and
3,330 acres (1,348 ha) Carbo area. Montoro also holds a 100%
interest in 5,604 acres (2,268 ha, 5 claims - the Chuchinka
property) contiguous to and adjoining the Wicheeda, a previously
reported Rare Earth discovery, northeast of Prince George, B.C.
Montoro is also focused on advancing its 100% optioned Elliot
Lake uranium/REE project in northern Ontario.
In addition the Company will continue the development with
Belmont Resources Inc. (50/50) of its Crackingstone - 2,.427 acres
(982 ha) and Orbit -27,450 acres (11,109 ha) uranium properties in
the Uranium City District - Northern Saskatchewan.
Also visit the Company website at www.MontoroResources.com and
watch the Smartstox interview with President Gary Musil
(www.smartstox.com/interviews/imt).
ON BEHALF OF THE BOARD OF DIRECTORS,
Gary Musil, President, CEO/Director
The statements used in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Companies forward-looking statements and expectations.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: International Montoro Resources Inc. Gary Musil
President, CEO/Director (604) 683-6648 (604) 683-1350 (FAX)
www.MontoroResources.com