BELMONT COMPLETES 1ST TRANCHE FINANCING -$92,000
Vancouver, B.C. Canada, January 2, 2015 – Belmont Resources Inc. (“Belmont”, the “Company” or “TSX.V: BEA”). Further to the TSX Venture Exchange bulletin dated December 24, 2014, the Company has completed the 1st tranche of the recently announced private placement.
The Company has completed 1,840,000 units at $0.05 per unit for gross proceeds of $92,000. Each unit consists of one common share and one two year transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of the Company at a price of $0.08 on or before December 24, 2015; and at $0.12 from December 25, 2015 until December 24, 2016.
The common shares and warrants are subject to a hold period expiring April 25, 2015.
The financing is required for working capital and other property expenditures.
The Company has arranged a Quebec office for additional information and contact regarding the Abitibi area properties. The address is Suite 725, 999 De Maissonneuve W., Montreal, Quebec H3A 3L4 and telephone #514-845-1101.
About Belmont Resources Inc.
In June 2012, the Company entered into a property option agreement to acquire four groups of mineral (51) claims, representing 2,254.27 hectares 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.
The Company completed and fulfilled the final terms of the February 2010 option agreement and has now acquired a 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. The property adjoins the “Hammond Reef” gold deposit, belonging to Osisko Mining Corp. (former Brett Resources Inc.), along strike to the north-northeast.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan.
Further information can be found on the Company’s website at www.BelmontResources.com and on www.Sedar.com, or by phoning 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
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.