MONTORO & BELMONT ACQUIRE URANIUM/GOLD
PROSPECT CLAIM IN NORTHERN SASKATCHEWAN
International
Montoro Resources Inc. (“IMT”) and Belmont
Resources Inc. (“BEA”) have signed an agreement
to acquire 100% interest in one claim block in northern Saskatchewan
near Uranium City.
This claim comprises approx. 750 hectares in the Northern
Mining District, Crackingstone River area, adjacent to JNR
Resources Inc. (“JNN”) Crackingstone Project.
Historic work in the area dates back to the 1950’s.
From 1953 to 1982, sixteen deposits were brought into production
in the Uranium City area, with total output in the order of
25,000 tons of uranium.
Terms of the Montoro/Belmont Option Agreement, subject to
regulatory approvals, are $30,000 cash over two years and
100,000 treasury common shares ($15,000 and 50,000 shares
each from Montoro and Belmont). The property is also subject
to a 2% NSR.
The companies are commissioning a NI 43-101 report as soon
as possible to allow the companies’ geological consultant
to prospect and sample the numerous outcroppings, which occur
on the property. Detailed merits of this prospect and a planned
2006 exploration program will be released as soon as available.
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