Montoro Terminates Option Agreement With Electric Metals Inc. on Chuchinka, B.C. Property
December 07 2012 - 8:00AM
Marketwired Canada
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 The Agreement is no longer in force.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.
FOR FURTHER INFORMATION PLEASE CONTACT:
International Montoro Resources Inc.
Gary Musil
President, CEO/Director
(604) 683-6648
(604) 683-1350 (FAX)
www.MontoroResources.com
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