BELMONT ENGAGING DRILLING CONTRACTOR FOR KIBBY BASIN, NEVADA LITHIUM PROPERTY
Vancouver, B.C. Canada, February 23, 2017 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; ("Belmont", or the "Company").
Kibby Basin Drilling:
Belmont Resources Inc. is in the process of engaging a Nevada drilling contractor with lithium brine drilling experience to commence the first phase drilling program consisting of approx. 1500 feet of sonic drilling.
Robert Cuffney, Exploration Geologist has recommended the first four holes (two 500 foot holes and two approximately 250 foot deep holes), based on the results received by the ground geophysics report and gravity survey completed in 2016. Three of the proposed drill holes are located near the eastern basin-bounding fault, where lithium brines are likely to well up in the structural zone, analogous to the concentration of lithium brines along the Paymaster fault in Clayton Valley. The fourth hole is a stratigraphic hole located near the central axis of the basin, designed to test for porous basin sediments, which could serve as aquifers for lithium brines.
The decision to begin with sonic drilling was made for several reasons:
Belmont anticipates the drilling to commence as soon as possible, depending on availability of drill crews and access to the drill sites following an unusually wet winter.
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.
About Belmont Resources Inc.
On March 30, 2016; the Company acquired 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-U.S.A. 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, Canada.
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.
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