BELMONT ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF SHARHOLDERS

BELMONT PLANS FOR KIBBY CLAIMS - NEVADA DRILLING PROGRAM & CONTRACTS CONSULTING GEOLOGIST
& WHAT’S DRIVING THE LITHIUM MARKET

Vancouver, B.C. Canada, September 21, 2016 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; ("Belmont", or the "Company").

Kibby Basin, Nevada - lithium potential property:

Belmont has recently paid the 2016/17 maintenance fees on the Kibby 1-16 Association Placer Mining claims at a cost of $19,840 USD ($26,300 Cdn), to secure the originally acquired 2,560 acres (1,036 ha) located 65 km north of Clayton Valley, in Esmeralda County, Nevada.

The Company will now be proceeding with the filing of the additional staked 213 x 20 acre placer mineral claims totaling approx. 4,260 acres (1,724 ha). This increases the total Kibby Basin and position (the "Property") to 6,820 acres (2,760 ha).

Following the completed gravity survey recommendations; the Company is commencing the planning for approximately six (6) Direct Push ("DPT") shallow drill holes (100- 200 ft.); as well as four (4) deeper Reverse Circulation drill holes up to 1500 feet, as proposed by our Consulting Geologist. The Notice of Intent to drill permit is being prepared; and quotes for the drilling, assaying, and related work are being compiled.

Robert ("Bob") G. Cuffney, Exploration Geologist of Reno, Nevada contracted:

The Company is pleased to announce that they have contracted Robert Cuffney to oversee the continued exploration and development of the Kibby Basin Property. Mr. Cuffney has more than 35 years of diverse experience designing, organizing, implementing and managing exploration and development programs; for precious metals, base metals, uranium, coal, and industrial minerals; in the western United States, Alaska, Mexico, Indonesia, Fiji, Republic of Philippines, China, Mongolia, and Australia.

He is a Qualified person for NI 43-101 reporting and his experience in all phases of geological, geochemical, and geophysical exploration programs from grass-roots exploration through discovery to development and mine/ore control geology will be a huge asset to Belmont’s ongoing development of the Kibby Basin Property.

What’s Driving the Lithium Market:

Lithium mining is a leading industry supporting three separate $billion industries - electric vehicles, energy storage, and smartphones.

  • China’s lithium-ion battery production tripled in 2015;
  • 12 lithium-ion battery "mega factories" are coming by 2020; including Panasonic (OTCPK:PCRFY), Tesla (NASDAQ:TSLA), LG Chem (OTC:LGCLF), Samsung SDI (OTC:SSDIY), BYD Co.(OTCPK:BYDDF), and Foxconn (OTC:FXCOF);
  • Goldman Sachs (NYSE:GS) calls "lithium the new gasoline". They forecast 22% electric vehicle (NYSE:EV) penetration by 2025, and "lithium demand for all EV applications could grow more than 11 times by 2025;
  • Ford (NYSE:F) is spending $4.5billion USD to add 13 new EV models to electrify 40% of its vehicle line up by 2020;
  • General Motors (NYSE:GM) has the Bolt coming; Nissan (OTCPK:NSANY) has the Leaf; Toyota (NYSE:TM) the Prius; Mitsubishi (OTCPK:MSBHY) the Highlander; and VW (OTCPK:VLKAY) Audi/Porsche; BMW (OTC:BAMXY); Renault (OTC:RNSDF); are all moving fast toward EV’s.
  • BYD Co. and Tesla are leading the pure EV plays, requiring more lithium each year.

In the News:

PR Newswire, September 19, 2016 from Transparency Market Research: http://ow.ly/pKOw304p3FP Lithium-ion Battery Market is Projected to Reach US $77.42 billion in 2024; Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 -2024. Transparency Market Research (TMR) has announced the release of a new report on the global lithium-ion battery market. The report examines the historical trajectory of the global market and presents detailed forecasts regarding the market’s development from 2016 to 2014.

ON BEHALF OF THE BOARD OF DIRECTORS
"Gary Musil"
Gary Musil, Corporate Secretary
CFO/Director

 

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 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 include, 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 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, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed 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 TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.