2018-10-04 19:08 ET - News Release

Mr. Gary Musil reports

MONTORO REPRICES WARRANTS

As a result of current market conditions, International Montoro Resources Inc. will make applications to the TSX Venture Exchange to reprice 7,905,000 transferable share purchase warrants attached to three private placements completed in 2017 and 2018. The warrants described below will be repriced to six cents; however, the expiry date(s) of the amended warrants will not be extended past their 2019 and 2020 dates as follows:

1. Oct. 12, 2019: 2.25 million warrants at an exercise price from 10 cents to a revised 6.0 cents;
2. Dec. 17, 2019: 2,155,000 warrants at an exercise price from 10 cents to a revised 6.0 cents;
3. Jan. 5, 2020: 3.5 million warrants at an exercise price from 10 cents to a revised 6.0 cents.

As the amended exercise price is not less than the average closing price of the issuer's listed shares for the 10 trading days immediately prior to the date of the news releases at the price reservation dates for the originating private placements, no accelerated expiry clause will be attached to the amended warrants.

About International Montoro Resources Inc.

Montoro is focused on advancing its 100-per-cent-owned Serpent River-Elliot Lake, Northern Ontario, Pecors magnetic anomaly -- a potential nickel-copper-platinum-group-element discovery.

In February, 2018, Montoro received approval for the acquisition of the Duhamel, Que., property.

In addition, the company owns jointly with Belmont Resources Inc. (50/50) its Crackingstone (982 hectares, 2,427 acres) and Orbit (11,109 hectares, 27,450 acres) uranium properties in the Uranium City district, Northern Saskatchewan, and is seeking a joint venture partner to continue development of this advanced property.