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File: BC edit BEA.Nov.21.17 Acquire Mid Corner ZincCobalt Prospect -NewBrunswick.(3).docx
BELMONT RESOURCES INC. ACQUIRES MID CORNER/JOHNSON CROFT -ZINC, COBALT PROSPECT - NEW BRUNSWICK
Vancouver, B.C. Canada, November 21, 2017 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 0804
--->99403); ("Belmont", or the "Company) is pleased to announce that it has entered into a Purchase Agreement (the "Agreem
--->ent" to acquire a 100% interest in the Mid Corner/Johnson Croft Property (the "MC Property") northwest of Saint John,
---> New Brunswick.
The MC Property consists of 31 mineral claims encompassing 7 Sq. Km and is located 24 km northwest of Saint John, New
--->Brunswick. The property has paved road accessibility, with a 3-phase transmission line running through the property.
Geology: A quartz-carbonate breccia filling occurs along a N-NW-trending fault that, to the north, cuts the contact of
---> the Welsford Granite with the Silurian Jones Creek Fm. The intrusions are mainly alkali granite and quartz syenite; t
--->he Jones Creek Formation is grey to green finely-laminated siltstone & fine sandstone.
Mineralized veins occur in or along the contacts of reddish granitic rocks and in the faulted sedimentary rocks. Irreg
--->ular veins and pods in a breccia zone up to 3 ft. (0.9 m) wide, associated with a prominent N-NW-trending transverse f
--->ault.
Historic Exploration:
Previous exploration on the property consisted of reconnaissance geological surveys and collection of a few rock sampl
--->es.
The first mineralized samples were collect in during 1970. No further work was done until 1991.
A single sample of breccia collected during the 1970 reconnaissance contained silver, cobalt, and zinc mineralization.
Assays
Commodity
Value
Silver
17.3 g/t
Cadmium
0.1 %
Cobalt
0.96 %
Copper
0.16 %
Lead
2.81 %
Zinc
16.04 %
Details:
One sample from the breccia zone.
Source:
Ruitenberg (1970) DNR Report of Investigation 13
Start Year:
1970
These results were followed up by D. Rose in 1991 and M.J McLoed in 1999, who collected 2 and 5 samples respectively.
--->Their results were as follows:
D. Rose
Sample #012-1: 2 ppb Au; 5.3 ppm Ag; 0.08 % Cu; 0.07 % Pb; 1.66 % Zn; 85 ppm Cd Sample #012-1A: <1 ppb Au; 1.8 ppm Ag;
---> 0.004 % Cu; 0.006 % Zn; <1 ppm Cd
M.J. McLeod
99MM002A : 4 ppb Au; <0.5 ppm Ag; 7 ppm Cu; 195 ppm Pb; 671 ppm Zn; 3 ppm Cd 99MM002B: 2 ppb Au; 1.8 ppm Ag; 54 ppm Cu
--->; 500 ppm Pb; >20000 ppm Zn; 175 ppm Cd 99MM003A: 1 ppb Au; <0.5 ppm Ag; 23 ppm Cu; 28 ppm Pb; 459 ppm Zn; 2 ppm Cd 99
--->MM003C: 1 ppb Au; <0.5 ppm Ag; 2 ppm Cu; 129 ppm Pb; 227 ppm Zn; 1 ppm Cd 99MM003D: <1 ppb Au; 2.2 ppm Ag; 164 ppm Cu;
---> 1675 ppm Pb; 10413 ppm Zn; 49 ppm Cd
All previous work is of a historical nature. The work was conducted prior to implementation of NI 43-101 standards
and assay results cannot necessarily be relied upon. Belmont Resources intends to confirm the reported mineralizatio
--->n
with the company's own sampling program.
Conclusions:
The well defined geochemical anomalies are believed to reflect the presence of a lead-zinc mineralized zone beneath th
--->ick overburden (A.D. Hudgins -1968). Management cautions that past results or discoveries on the prior claims may no
--->t necessarily be indicative to the presence of mineralizaton on the current claim area. The current land package also
---> extends further to the west and northeast, and this area has little to no documented exploration undertaken.
Proposed Exploration Program:
High resolution ground EM and/or Gravity surveys over the area are recommended to better define locations of high cond
--->uctivity for surface sampling. In 1968 it was concluded that there was too much noise from powerlines to detect miner
--->alization, however with today's technology, the noise can be cancelled out and you will be able to see what is in the
--->subsurface.
Acquisition Terms:
In consideration for a 100% interest in the MC Property, the Company will issue 2,000,000 common shares and make cash
--->payments totaling $10,000 over a 12-month period to the vendor. The Agreement is subject to a 2.5% NSR of which the C
--->ompany has the right to purchase 1%..
The Company is acquiring the MC Property as a secondary property and will continue to focus all near term exploration
--->and development efforts on its wholly owned Kibby Basin Lithium Property, NV. The Company does not anticipate conduct
--->ing any field exploration on the MC Property until 2018. In the coming weeks, the Company will complete a review of a
--->ll historic information in advance of the proposed MC Property exploration program.
NI 43-101 Disclosure
Robert ("Bob") G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-1
--->01, has reviewed and approved the technical information in this news release.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties
--->in Canada and Nevada, U.S.A.
For further information see our Website at: www.BelmontResources.com
-Facebook https://www.facebook.com/Nevadalithium/
-Twitter https://twitter.com/Belmont_Res
On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in
---> Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. T
--->he Company believes the property to be highly prospective to host lithium. Subsequent ground geophysics & gravity sur
--->veys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmed the presence of lithium on Kibby.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims t
--->otaling approx. 1724 hectares ( 4,260 acres) , adjoining the Kibby 16, increasing the total Kibby Basin land position
--->(the "Property") to 2,760 hectares (6,820 acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture op
--->portunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake - 11,109 ha) in the Uraniu
--->m City District in Northern Saskatchewan, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
"Vojtech Agyagos"
Vojtech Agyagos, CEO/President
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based
--->on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a res
--->ult of exploration and other risk factors beyond its control. Forward looking statements in this news release include
---> statements about the possible raising of capital and exploration of our properties. Actual events or results could
--->differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties inclu
--->de, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds
--->required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an explorat
--->ion program in 2016; and other risks associated with being a mineral exploration and development company. These forwar
--->d-looking statements are made as of the date of this news release and, except as required by applicable laws, the Comp
--->any assumes no obligation to update these forward-looking statements, or to update the reasons why actual results diff
--->ered from those projected in the forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the T
--->SX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
File: BC edit BEA.Nov.21.17 Acquire Mid Corner ZincCobalt Prospect -NewBrunswick.(3).pdf
BELMONT RESOURCES INC.
#600 625 Howe Street, Vancouver, B.C. V6C 2T6
Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: gmusil@belmontresources.com
BELMONT RESOURCES INC. ACQUIRES MID CORNER/JOHNSON CROFT ZINC,
COBALT PROSPECT NEW BRUNSWICK
Vancouver, B.C. Canada, November 21, 2017 Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC
Eligible CUSIP 080499403); ("Belmont", or the "Company) is pleased to announce that it has entered into a
Purchase Agreement (the "Agreement" to acquire a 100% interest in the Mid Corner/Johnson Croft Property (the
"MC Property") northwest of Saint John, New Brunswick.
The MC Property consists of 31 mineral claims encompassing 7 Sq. Km and is located 24 km northwest of Saint
John, New Brunswick. The property has paved road accessibility, with a 3-phase transmission line running through
the property.
Geology: A quartz-carbonate breccia filling occurs along a N-NW-trending fault that, to the north, cuts the contact
of the Welsford Granite with the Silurian Jones Creek Fm. The intrusions are mainly alkali granite and quartz
syenite; the Jones Creek Formation is grey to green finely-laminated siltstone & fine sandstone.
Mineralized veins occur in or along the contacts of reddish granitic rocks and in the faulted sedimentary rocks.
Irregular veins and pods in a breccia zone up to 3 ft. (0.9 m) wide, associated with a prominent N-NW-trending
transverse fault.
Historic Exploration:
Previous exploration on the property consisted of reconnaissance geological surveys and collection of a few rock sampl
--->es.
The first mineralized samples were collect in during 1970. No further work was done until 1991.
A single sample of breccia collected during the 1970 reconnaissance contained silver, cobalt, and zinc mineralization.
Assays
Commodity Value
Silver 17.3 g/t
Cadmium 0.1 %
Cobalt 0.96 %
Copper 0.16 %
Lead 2.81 %
Zinc 16.04 %
Details: One sample from the breccia zone.
Source: Ruitenberg (1970) DNR Report of Investigation 13
Start Year: 1970
These results were followed up by D. Rose in 1991 and M.J McLoed in 1999, who collected 2 and 5 samples
respectively. Their results were as follows:
D. Rose
Sample #012-1: 2 ppb Au; 5.3 ppm Ag; 0.08 % Cu; 0.07 % Pb; 1.66 % Zn; 85 ppm Cd
Sample #012-1A: <1 ppb Au; 1.8 ppm Ag; 0.004 % Cu; 0.006 % Zn; <1 ppm Cd
M.J. McLeod
99MM002A : 4 ppb Au; <0.5 ppm Ag; 7 ppm Cu; 195 ppm Pb; 671 ppm Zn; 3 ppm Cd
99MM002B: 2 ppb Au; 1.8 ppm Ag; 54 ppm Cu; 500 ppm Pb; >20000 ppm Zn; 175 ppm Cd
99MM003A: 1 ppb Au; <0.5 ppm Ag; 23 ppm Cu; 28 ppm Pb; 459 ppm Zn; 2 ppm Cd
99MM003C: 1 ppb Au; <0.5 ppm Ag; 2 ppm Cu; 129 ppm Pb; 227 ppm Zn; 1 ppm Cd
99MM003D: <1 ppb Au; 2.2 ppm Ag; 164 ppm Cu; 1675 ppm Pb; 10413 ppm Zn; 49 ppm Cd
All previous work is of a historical nature. The work was conducted prior to implementation of NI 43-101 standards
and assay results cannot necessarily be relied upon. Belmont Resources intends to confirm the reported mineralization
with the company's own sampling program.
Conclusions:
The well defined geochemical anomalies are believed to reflect the presence of a lead-zinc mineralized zone beneath
thick overburden (A.D. Hudgins -1968). Management cautions that past results or discoveries on the prior claims
may not necessarily be indicative to the presence of mineralizaton on the current claim area. The current land
package also extends further to the west and northeast, and this area has little to no documented exploration
undertaken.
Proposed Exploration Program:
High resolution ground EM and/or Gravity surveys over the area are recommended to better define locations of high
conductivity for surface sampling. In 1968 it was concluded that there was too much noise from powerlines to
detect mineralization, however with today's technology, the noise can be cancelled out and you will be able to see
what is in the subsurface.
Acquisition Terms:
In consideration for a 100% interest in the MC Property, the Company will issue 2,000,000 common shares and
make cash payments totaling $10,000 over a 12-month period to the vendor. The Agreement is subject to a 2.5%
NSR of which the Company has the right to purchase 1%..
The Company is acquiring the MC Property as a secondary property and will continue to focus all near term
exploration and development efforts on its wholly owned Kibby Basin Lithium Property, NV. The Company does
not anticipate conducting any field exploration on the MC Property until 2018. In the coming weeks, the Company
will complete a review of all historic information in advance of the proposed MC Property exploration program.
NI 43-101 Disclosure
Robert ("Bob") G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical information in this news release.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties
--->in Canada and Nevada,
U.S.A.
For further information see our Website at: www.BelmontResources.com
-Facebook https://www.facebook.com/Nevadalithium/
-Twitter https://twitter.com/Belmont_Res
On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in
---> Esmeralda County,
Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada-U.S.A. The Company believes t
--->he property to be
highly prospective to host lithium. Subsequent ground geophysics & gravity surveys, surface sampling and a two hole- 2
--->046 ft. diamond drill
program have confirmed the presence of lithium on Kibby.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims t
--->otaling approx. 1724
hectares ( 4,260 acres) , adjoining the Kibby 16, increasing the total Kibby Basin land position (the "Property") to 2
--->,760 hectares (6,820
acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture oppo
--->rtunities for its two
significant uranium properties (Crackingstone -982 ha & Orbit Lake 11,109 ha) in the Uranium City District in Northe
--->rn Saskatchewan,
Canada
ON BEHALF OF THE BOARD OF DIRECTORS
"Vojtech Agyagos"
Vojtech Agyagos, CEO/President
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based
--->on assumptions and judgments of
management regarding future events or results that may prove to be inaccurate as a result of exploration and other ris
--->k factors beyond its control. Forward looking
statements in this news release include statements about the possible raising of capital and exploration of our proper
--->ties. Actual events or results could differ
materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, amon
--->g other things, that we may not be able
to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be
---> fulfilled and we may not be able to
organize and carry out an exploration program in 2016; and other risks associated with being a mineral exploration and
---> development company. These
forward-looking statements are made as of the date of this news release and, except as required by applicable laws, th
--->e Company assumes no obligation to update
these forward-looking statements, or to update the reasons why actual results differed from those projected in the for
--->ward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the T
--->SX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this news release.
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