Further to our news releases of April 23 & August 25, 2008, Belmont Resources Inc. (TSX.V-BEA) reports the following update:
In 2008, EuroGas, Inc. announced that it had officially requested an acceleration of the return of the Gemerska Poloma talc mining concession to Rozmin s.r.o. by filing official requests with the Government of the Slovak Republic and the European Commission. EuroGas filed these requests on behalf of Rozmin, a company in which EuroGas owns 33% interest and has an agreement to acquire a further 57% interest from Belmont Resources Inc.
May 18, 2011 Decision:
The Supreme Court of Slovakia in its non –appeable decision of May 18, 2011 once again ruled in favour of Rozmin s.r.o. The Supreme Court judgment is a reversal of the January 2005 decision where the Regional Mining office in Spiska Nova Ves had granted the Gemerska Poloma talc concession mining rights to VSK Mining a Slovakian company.
Rozmin has advised its solicitors to apply for all previous mining rights in connection of Gemerska Poloma concession, including damages. The matter is currently under arbitration as EuroGas is suing the Slovakian government for $500 million Euros in connection with the cancellation and assignment of the talc mining concession away from Rozmin s.r.o.
About Belmont Resources Inc.
Belmont has recently entered into an option to acquire 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan and adjoining on strike to the north-northeast with the Osisko Mining Corp. (former Brett Resources Inc.) “Hammond Reef” deposit.
Belmont (50/50) with International Montoro Resources Inc. has acquired and explored two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan. The Company also holds interests (50/50 with Int. Montoro Res.) in one rare earth mineral and one uranium claim block in the Central Mineral Belt in Labrador.
Further information can be obtained from the Company website at www.BelmontResources.com and www.Sedar.com, or by phoning 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
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