October 26, 2006

BELMONT-MONTORO RECEIVE NI 43-101 REPORT ON ATHABASCA BASIN, SASKATCHEWAN – URANIUM POTENTIAL

Belmont Resources Inc. (“BEA”) and International Montoro Resources Inc. (“IMT”) are pleased to announce the receipt of a NI 43-101 Technical Report on the potential of the Companies 750 hectare Crackingstone River Property (“CRR”) located on the north shore of Lake Athabasca and 8 km. SW of Uranium City. Extensive historical exploration files and numerous new geological and geophysical reports from the Saskatchewan Geological Survey and the Geological survey of Canada were obtained and reviewed describing the geological and mineralogical setting of the CRR property, Uranium City and Athabaska Basin area.

Raymond A. Bernatchez, P.Eng., Consulting Geologist of Atikokan, Ontario, an independent qualified person under NI 43-101 reported the following:

“There were two main phases of exploration activity on the property by Rix Athabasca Uranium Mines Ltd. and Amax Athabasca Uranium Mines Ltd. (1949 to 1958) and by Mukta Canada Ltd. (1967-1969). The three companies carried out traditional prospecting with Geiger counter and scintilometer, trenching, geological mapping followed up with diamond drilling the strongest radioactive showings.

18 uranium showings were located on the property as listed and described by Beck (1969). Two parallel uranium bearing shear/fracture zones, located on the northern portion of the property and along the Chance Lake Fault Zone were previously tested with 41 shallow percussion drill holes and 7 diamond drill holes along a 500 meter strike distance. The percussion drill holes were tested down hole with a scintilometer probe to measure the radioactive response of the rocks intersected in the drill holes.

Two previous bulk samples were taken from two showings located on the property. The first was a 46 ton hand sorted bulk sample from the Amax’s 50-CC1-80 showing assaying 0.5% U308. A second 6.5 ton hand sorted bulk sample, was extracted from Mylo’s Lease (Rix #49-CC1-4) assaying 0.5% Uranium. Rix Athabasca Uranium Mines Ltd. reported a grab assay of 12.53% U308 from the Rix #59 showing located in the southwestern portion of the property.

Past production in the area came from four outside occurrences; the Cinch, Lorado, Rix Smitty and Leonard occurrences. The Cinch Lake and Rix Smitty mines produced a total 1,869,000 lbs. of U308.

Most of the showings on the property are located in the central and northwestern portion of the property. These uranium showings are contained within the Northeast trending Chance Lake Leonard and Boom Lake Shear/Facture Zone. A fourth less explored Bushel Inlet Shear Zone crosses the southeast portion of the Property. The Cinch Lake Uranium Mine located 3 km east of the property, is at the intersection point of the ENE trending Crackingstone Fault Zone and the Black Bay Fault. The Crackingstone Fault crosses through the central portion of the CRR Property. This Fault Zone intersects the NE trending Boom Lake, Leonard and the Chance Lake Fault Zone in the central portion of the Property. Several known uranium occurrences are located within these three NE trending shear zones. Their intersection with the Crackingstone Fault Zone represents three prime uranium exploration targets on the CRR Property.

During the recent evaluation, samples were obtained from an open cut and adit located in the northern portion of the Property. This adit is known as Rix #7 adit. Four samples taken from the rock pile and trenches along the strike of the fracture zone along an east-west strike length of 275 meters assayed from 0.28% to 6.55% Uranium.

The author has concluded that the property warrants further exploration work to test the depth and structure of the known occurrences and to test the unexplored sections, such as the areas in the central portion of the Property, where the Chance Lake, Boom Lake (Eric) Leonard faults intersect with the Crackingstone fault.

A 2-Phased multi-disciplined exploration program is proposed.”

The Technical Report will be filed concurrently on SEDAR along with this News Release.

 

ON BEHALF OF THE BOARD

Gary Musil,
Secretary/Director

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