BELMONT & INT. MONTORO SELLS EAST BAY, RED LAKE CLAIMS
Vancouver, B.C. Canada, February 6, 2012 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) and International Montoro Resources Inc. (“IMT”) (the “Companies BEA/IMT”) have entered into an agreement to sell their 100% interest in two patented claim groups located in the East Bay area, Red Lake, Ontario to Premier Gold Mines Limited (TSX:PG).
The two claims comprise 21.525 hectares (approx. 53 acres). Premier will pay the Companies BEA/IMT an aggregate of $20,000 cash and issue 5,000 shares of Premier (2,500 each to BEA & IMT) for the acquisition. The Companies BEA/IMT will not retain any royalty; however the claims are subject to an underlying 3% NSR payable to the original vendors. BEA/IMT has not completed any exploration on the claims, which they have held since 2004.
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
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. 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.