January 5, 2010 (FinancialWire) — Gentor Resources, INC. (OTCBB: GNTO) has signed a letter of intent with Arabian Peninsula Projects Ltd., African Precious Minerals Ltd. and Tembo Capital LLP relating to the acquisition by Gentor of all of the issued and outstanding equity securities of APM Mining Ltd.

British Virgin Islands-based APM Mining is a mineral exploration company that has secured the earn-in rights to specific exploration ground holdings in the Sultanate of Oman, comprising strategic sites identified as having significant potential for copper mineralization, according to Gentor.

According to Gentor, the deal should close within the next few weeks.

Gentor said it anticipates that 13.063 million of its previously authorized and unissued common shares will be exchanged for ownership of 100% of APM Mining Ltd.

If this transaction is concluded, Gentor will have secured the earn-in rights to two exploration blocks in Oman, representing a total of 1,266 square kilometers, and anticipates utilizing its newly acquired management team to increase its exploration holdings across the region with the objective of becoming a leading exploration company focused on this region.

Idaho-based Gentor Resources is a mineral exploration and development company whose projects include the IMA Mine molybdenum-tungsten-silver property in East Central Idaho.

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