BELMONT & DOREX MOBILIZE CREW TO COMMENCE EXPLORATION ON LUMBY/BUFO PROPERTY
Belmont Resources Inc. (TSX.V –“BEA”) (the “Company”) with Dorex Minerals Inc. (TSX.V-“DOX”) or (“Dorex”) have mobilized an exploration crew to start the next phase of exploration on the Lumby/Bufo Property (the “Property”) consisting of 23 contiguous claims (3,040 ha) located approximately 35 km northeast of the town of Atikokan, Ontario.
In preparation for the upcoming drilling program, a line cutting crew has been mobilized to start establishing two grids. The first grid consisting of 40 line kilometers is being cut in the Bufo-Two Bay Lake area in the western portion of the property. This grid will aid in establishing proper location for 5 of the 8 hole-Phase II drill program proposed near the north and southwest shores of Bufo Lake.
A partial grid is also being established at the east end and north of Lumby Lake. The Phase II drill program is proposing 2 drill holes to test the multiple and parallel I.P. anomalies located north, south and under Lumby Creek and south of the high grade Silver-Base Metal showing. A drill hole is also proposed to test a strong Airborne EM anomaly trend and a strong and wide chargeability anomaly trend located about 1000 meters north of the high grade Silver-Base Metal showing. Previous sampling by Atikokan Resources at the high grade silver-base metal discovery showing reporting grab samples assaying up to 416 oz./ton silver, 25% lead and 15% zinc. A 300-ton bulk sample extracted in 2003 averaged 15 oz. silver/ton.
Belmont has hired Silverado Drilling Corp. of Kamloops, B.C. to diamond drill a minimum 2450 meters of NQ size core for this Phase II drilling program to test some of the targets recommended.
To earn an initial 49% interest in the Property, Dorex will complete $1,500,000 in exploration expenditures by December 31, 2011 of which $500,000 must be incurred by February 28, 2011.
The Lumby-Bufo Property is contiguous with and on strike to the north-northeast with the Hammond Reef deposit, where Osisko is presently focused on expanding their gold resources. A preliminary assessment (“PA”) study was completed on Hammond Reef on November 12, 2009, resulting in a NI 43-101 compliant Inferred Resource estimate of 6.7 million ounces of gold (259.4 million tonnes @ 0.8 g/t gold, using a 0.3 g/t Au cutoff).
This press release has been reviewed and approved by Raymond A. Bernatchez, P.Eng. Consulting Geologist and a qualified person as defined in NI 43-101
ON BEHALF OF THE BOARD OF DIRECTORS OF
BELMONT RESOURCES INC.
Gary Musil, CFO/Director
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
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