INTERNATIONAL ARBITRATION DECISION
Vancouver, B.C. Canada, August 22, 2017 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; ("Belmont", or the "Company").
Belmont Resources Inc. (the “Company”) announces that it has been informed of the decision by the Tribunal of the International Centre For Settlement Of Investment Disputes in reviewing the dispute involving the Company, EuroGas Inc. (“EuroGas”), and the Slovak Republic in connection with Rozmin S.R.O. and its ownership of the Gemerska Poloma talc deposit. The Tribunal, comprised of 3 members, in a majority decision with one (1) member dissenting, has declined to accept jurisdiction for the review and determination of the dispute on technical grounds related to the inter-jurisdictional treaty between Canada and Slovakia. The Company is very disappointed given the length of time, effort and expense incurred by all parties that were seeking a proper determination of the dispute itself and in is in discussion with its legal counsel in regards of a judicial review of the Tribunal’s decision to decline jurisdiction.
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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