BELMONT TO OBTAIN WATER RIGHTS FOR KIBBY BASIN, NEVADA LITHIUM PROPERTY
Vancouver, B.C. Canada, April 30, 2018 - Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible - CUSIP 080499403); (“Belmont”, or the “Company”).
Belmont Resources Inc. has entered into a consultanting contract with Nevada Water Solutions LLC (NWS) of Reno to file for water rights to support future potential groundwater (brine) development for the extraction of lithium in the Monte Cristo Valley Groundwater Basin in Esmeralda County, Nevada. The permit application will cover Belmont’s Kibby Basin property.
Tom Gallagher, PE, Manager, of NWS will be carrying out the work for Belmont. He is highly qualified in this field having more than 31 years of experience with the Nevada Division of Water Resources, working for 6 different State Engineers; including 2 years as the Water Rights Section Chief for Jason King who is the current State Engineer.
The contract will expire when the permit is approved for the fully requested amounts of water. The initial application has been filed to establish a priority date in Belmont’s favor. These approvals will represent a significant investment and component in the operation and possible expansion plans of Belmont in Kibby Basin.
As per previous news releases, Belmont is planning on drilling mineral exploration holes in the basin and, as part of this program may wish to drill and develop up to two new wells for the project.
Mr. Gallagher will be in direct contact with United States Department of the Interior, Bureau of Land Management, the Nevada Division of Minerals (NDOM), the Nevada Division of Water Resources (NDWR), and the Office of the State Engineer as part of his work for Belmont.
Terms of the consulting contract require that NWS will follow up as needed to insure the applications are approved.
About Belmont Resources Inc.
Belmont has recently optioned 31 mineral claims encompassing approx. 7 sq.km; located 24 km northwest of Saint John, New Brunswick - the Mid Corner/Johnson Croft - a Zinc, Cobalt prospect.
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. Subsequent ground geophysics & gravity surveys, surface sampling and a two hole- 2046 ft. diamond drill program have confirmed the presence of lithium on Kibby.
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 2,760 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
“James H. Place”
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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