Vancouver, B.C. Canada, October 30, 2012 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) has tendered bids for line cutting and Induced Polarization (IP) surveys as recommended in the Technical Report on the two blocks of claims in the Berthiaume ( the “Be”) Property.
On September 19, 2012 the Company reported a summary of the NI 43-101 Technical Report and recommendations.
The property was acquired on the basis of physiographic and geophysical data that could indicate the presence of volcanic centers. The general geological context remains favorable for other model deposits and exploration towards these models will return data that will serve to establish if the volcanic centers model can be supported.
Property Location & Access
The Be Property is located halfway between the towns of Matagami and Lebel-sur-Quevillon, Abitibi, Quebec. It consists of two designated claim blocks of eight claims covering 447.84 ha (West Block) and 23 claims covering 1,287.56 ha (East Block).
The Company is tendering bids for approx. 51.8 km of line cutting on the north and south sections of the east blocks and the west block. This will be followed by approx. 47 km of induced polarization (IP) survey with a dipole-dipole electrode configuration on 50 meter intervals. The Company is expecting to have the work commencing in November.
About Belmont Resources Inc.
The Company has recently entered into a property option agreement 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 of Northwestern, Quebec. This belt hosts several world class deposits that have produced both gold and base metals.
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” 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 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.