VANCOUVER, BC / ACCESSWIRE / November 22, 2018 / ("Belmont Resources Inc. ("Belmont" or the "Company") (TSX.V:BEA; FSE: L3L1;DTC Eligible – CUSIP 080499403).
Kibby Basin – Drilling to Commence
HarrisExploration Drilling and Associates owner, Pat Harris, has advised Belmont thatthey are ready to begin mobilizingdrilling equipment to the Kibby Basin and drilling is expected to commence after the Thanksgiving holiday. Hole KB-4 targets a prominent structure within the large MT anomaly defined fromthe Quantec´s MT survey completed in February, 2018. The site is located approximately 2300 metres northeast of hole KB-3, drilled in August.See drill hole map which outlines Holes KB-1to 4 and other proposed hole locations; http://www.belmontresources.com/maps-kibby%20basin.html#&gid=1&pid=6 & http://www.belmontresources.com/maps-kibby%20basin.html#&gid=1&pid=7
Harris will be using aRD-10 rotary drill and estimates that KB-4 will take approximately oneweek to reach the proposed initial depth of 1200 feet, after which down-holegeophysical surveying will be carried out. After the results of the geophysicalsurvey are analyzed, the most favorable layers for lithium brine will beidentified for sampling and testing of formation waters, possibly followed by deeper drilling.Specialized casing and equipment willbe used in the drill hole to allow the best and most representative samples tobe obtained.
Sediment samples will also be taken byBelmont´s on-site geologist during drilling and these samples will be loggedand prepared for assay in the same manner as for previous drill holes.
NI 43-101 Disclosure
Robert ("Bob")G. Cuffney, Certified Professional Geologist, a Qualified Person as defined byNational Instrument 43-101, has reviewed and approved the technical informationin this news release.
Munich Exhibition successful
Mr. Gary Musil,CFO/Director of Belmont with Zimtu Capital Corp. (TSX.V: ZC) and other Zimtuassociated companies showcased the Company for two days at the InternationalPrecious Metals & Commodities (Edelmetall & Rohstoffmesse) Show inMunich, Germany – November 9th & 10th, 2018.A number of long time investors of Belmont, as well as recent investorsdropped by our booth for updates and questions on our Kibby progress.
About Belmont Resources Inc.
Belmont is anemerging resource company engaged in the acquisition, exploration anddevelopment of mineral properties in Canada and Nevada, U.S.A.
For furtherinformation see our Website at: www.BelmontResources.com
On March 30, 2016; the Company acquired sixteen placer(16) mining claims, representing 1036 hectares (2,560 acres) in EsmeraldaCounty, Nevada, U.S.A. The Kibby Basinproperty is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes the property to behighly prospective to host lithium.Subsequent ground geophysics & gravitysurveys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmedthe presence of lithium on Kibby.
In June 2018; the Company has updated its landposition staking, and now holds 126 x 20 acre additional placer mineral claimstotaling approx. 1,020 hectares ( 2,520 acres) , adjoining the Kibby 16, for atotal Kibby Basin land position (the"Property") to 2,056 hectares (5,080 acres).
In 50/50 ownershipwith International Montoro Resources Inc., Belmont has acquired and is exploring joint ventureopportunities for its two significant uranium properties(Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium CityDistrict in Northern Saskatchewan, Canada
ONBEHALF OF THE BOARD OF DIRECTORS
"James H. Place"
James H. Place
This Press Release may contain forward-looking statementsthat may involve a number of risks and uncertainties, based on assumptions andjudgments of management regarding future events or results that may prove to beinaccurate as a result of exploration and other risk factors beyond itscontrol.Forward looking statements inthis news release include statements about the possible raising of capital andexploration of our properties.Actualevents or results could differ materially from the Companies forward-lookingstatements and expectations.These risks and uncertainties include,among other things, that we may not be able to obtain regulatory approval; thatwe may not be able to raise funds required, that conditions to closing may notbe fulfilled and we may not be able to organize and carry out an explorationprogram in 2016; and other risks associated with being a mineral explorationand development company. These forward-looking statements are made as ofthe date of this news release and, except as required by applicable laws, theCompany assumes no obligation to update these forward-looking statements, or toupdate the reasons why actual results differed from those projected in theforward-looking statements.
Neither the TSX Venture Exchange nor its RegulationServices Provider (as the term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of this newsrelease.