BELMONT RECEIVES EXCHANGE APPROVAL ON ACQUISITION OF QUEBEC CLAIMS
Vancouver, B.C. Canada, June 19, 2012 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) has received TSX Venture Exchange acceptance of the acquisition of a 100% interest into a property option to acquire four groups (51) mineral claims, representing 2,254.27 hectares located in the Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone belt of Northwestern, Quebec. This belt hosts several world class deposits that have produced both gold and base metals.
All of these properties were selected on the basis of interpreted favorable structures and lithology’s. The Company has commissioned an NI 43-101 geological report on the properties, with recommendations for the first phase exploration program.
The Company has issued 250,000 shares (first property payment) subject to a hold period from trading until October 14, 2012 and made cash payments of $50,000 to date on the Quebec properties.
The Company has cancelled all 325,000 (post-consolidated) incentive stock options and has granted 1,020,000 new incentive stock options to directors, employees and consultants at a price of $0.12 for a period of three years. All securities are subject to regulatory approvals and the Company’s Stock Option Plan.
About Belmont Resources Inc.
In February 2010 the Company 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” 10.53 million ounce gold 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.