BELMONT'S PRELIMINARY SURFACE SAMPLES ASSAY POSITIVE FOR LITHIUM
Vancouver, B.C. Canada, October 27, 2016 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; ("Belmont", or the "Company").
Bob Cuffney, C.P. Geo. recently visited Belmont's Kibby Basin property to review road access and locate drill sites for the proposed drilling program. While on site Mr. Cuffney collected ten (10) surface samples (from a nominal depth of 30 cm) of the playa sediments for lithium assaying. The lithium assay results were about what was to be expected for preliminary sampling of source rocks. The abundance of lithium in the continental crust is about 35 ppm Li, according to recent studies (Teng. et al, 2004, Lithium isotopic composition and concentration of the upper continental crust: Geochimica et Cosmochimica Acta v.68, no.20).
Some of the samples were as much as 2 times the crustal average with a high of 73.8 ppm Li. There does appear to be a correlation between grain size and lithium values in the samples, with higher values in the pure muds versus silty or sandy sample, as would be expected for lithium bound in hectorite clays. Values are also higher in the central parts of the playa, which are target areas for the upcoming drilling program. Samples also confirmed anomalous concentrations of boron and arsenic, which may indicate the presence of a hydrothermal system operating within the playa.
Samples were collected and transported to the ALS sample preparation lab in Reno, Nevada by Mr Cuffney. Samples were pulverized and screened to -75 micron and analyzed by Aqua Regia leach mass spectrometry at the ALS laboratory in North Vancouver, B.C. Canada.
NI 43-101 Disclosure
Robert ("Bob") G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.
Zimtu European Roadtrip 2016
Mr. Gary Musil, CFO/Director of Belmont will be joining Zimtu Capital Corp. (TSX.V: ZC) along with several other Zimtu associated companies on its European roadtrip October 31 - November 4, 2016. Belmont will we networking with industry experts and financial analysts in Geneva, Zurich, Frankfurt and showcasing the Company for the final two days at the International Precious Metals & Commodities (Edelmetall & Rohstoffmesse) Show in Munich- see http://www.zimtu.com/s/Roadtrip.asp (Click Here: Zimtu Roadtrip 2016 Brochure)
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada and Nevada, U.S.A.
On March 30, 2016; the Company entered into a property acquisition agreement to acquire sixteen placer (16) mining claims, representing 1036 hectares (2,560 acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada. The Company believes the property to be highly prospective to host lithium.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims totaling approx. 1724 hectares ( 4,260 acres) , adjoining the Kibby 16, increasing the total Kibby Basin land position (the "Property") to 2760 hectares (6,820 acres).
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.
ON BEHALF OF THE BOARD OF DIRECTORS
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2016; and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
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.