Vancouver, B.C. Canada, September 21, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to welcome Mr. James Ebisch, P.Geo to the Belmont team as a consulting geologist. James is a resident of Washington State and will be supervising exploration programs on the Lone Star project and in particular the upcoming Lone Star drill program.

James is very familiar with the Lone Star having published several technical reports on the project.

  • Ebisch, J.F., 1990: Geology and Mineralization at the Lone Star Property, Ferry County, Washington and Greenwood Camp, B.C. for Kennecott Exploration Company, February.
  • Ebisch, J.F., 1991: Lone Star Project Report, Ferry County, Washington, January.
  • Ebisch, J.F., 1991: Geology of the Lone Star Property, Ferry County, Washington, for Northwest Washington Geological Society Meeting, July.

George Sookochoff, President & CEO commented, “I am very glad to have Jim returning to the Lone Star project on Belmont’s behalf. His knowledge and understanding of the project will prove to be invaluable as we advance the Lone Star through stages of drilling, bulk sampling and strategic planning for production.”

Mr. Ebisch has extensive experience in domestic and international mineral exploration, conducting generative and project level exploration activities for precious metals, base metals, and industrial minerals.

His forte is detailed geological mapping, structural interpretation, and resultant drill-target definition.

He received a Bachelor of Science Degree in Geology from the University of Wisconsin-Oshkosh (1980) and a Master of Science Degree in Geology from Sul Ross State University in Alpine, Texas (1984). He is a Registered Member of the Society of Mining Engineers (SME) since 2011 and an Oregon State Licensed Geologist in good standing since 1986. He is also a NI 43-101 Qualified Person and has completed a significant number of NI 43-101 reports for various publicly-traded Canadian resource companies.

Lone Star Drilling

As announced in an August 16, 2021 news release, Belmont is planning a 3,000+ metre drill program for the Lone Star copper-gold deposit with the objective of:

  1. Adding additional resources to the current historical resource.
  2. Moving a component of inferred resource to measured resource in preparation for a possible future Preliminary Assessment, Scoping or Feasibility Study.
  3. Generating a new current NI 43-101 compliant resource incorporating any additional resources generated from the drilling.

About the Lone Star Projecct

The 234 hectare Lone Star Property is comprised of a series of contiguous Washington State patented lode claims which covers the past producing Lone Star Mine.

The Lone Star mine operated over two time periods; underground from 1897-1918 producing 146,540 tonnes, and open-pit from 1977-1978 by Granby Mining Co. when 400,000 tonnes of ore were transported from the Lone Star open pit to its Phoenix mill in B.C, 11km to the north.

Lone Star 3D Model

Lone Star Historic Resource and Underground Workings

The Lone Star deposit has an historic resource estimate which was reported in a “Technical Report and Resource Estimate on the Lone Star Deposit, Ferry County Washington (September 23, 2007)” for Merit Mining Corp. and authored by P&E Mining Consultants Inc.

Lone Star Historic Resource Table

Lone Star Historic Resource Table

The 2007 historic resource estimation was based on US$593/oz gold and US$2.84/lb copper.

Golden Dawn’s Lexington Property lies adjacent to the Lone Star property on the Canadian side. The two properties cover a 3-kilometer long trend of gold-copper mineralization linked by geology, in both rock types and structure, as well as the accompanying gold-copper mineralization.

Lone Star and Lexington Mines

Lone Star and Lexington Mines

Nearby Toll Mill

Golden Dawn Minerals “Greenwood Toll Mill” is only 11km to the north of the Lone Star deposit. The Greenwood mill is currently under care and maintenance but Golden Dawn announced in an August 4, 2021 news release their plans to initiate refurbishment of the mill, a process that is currently underway.

Golden Dawn stated “The Greenwood Process Plant facility is a key component for potential production from surrounding precious metal deposits in southern BC.  Potential sources of process material could include gold-copper & silver material from the following:

  •     Lexington Mine (gold-copper) Golden Dawn GOM.v
  •     Golden Crown Mine (gold-copper) Golden Dawn GOM.v
  •     May Mac Mine (silver-gold) Golden Dawn GOM.v
  •     Deadwood deposits (Golden Dawn GOM.v)
  •     Kenville mine at Nelson (Ximen Mining Corp. XIM.v )
  •     Gold Drop property (GGX Gold Corp. GGX.v )
  •     Lone Star Mine (Belmont Resources BEA.v ”

About Belmont Resources Inc.

Belmont Resources is engaged in the business of acquiring and re-developing past producing copper-gold-silver mines in southern British Columbia and Northern Washington State. This region is considered to have the highest concentration of mineralization and past producing mines in western North America. By utilizing new exploration technology, geological modelling and specialized 3D data analysis, the company is successfully identifying new areas of mineralization beneath and/or in the near vicinity of the past producing mines

The Company’s project portfolio includes 6 past producing mines:

Belmont Resources Properties Map

Belmont Resources Properties Map

  • Athelstan-Jackpot, B.C. – *Athelstan & Jackpot Gold-Silver mines
  • Come By Chance, B.C. – *Betts Copper-Gold mine
  • Lone Star, Washington – *Lone Star Copper-Gold mine
  • Pathfinder, B.C. – *Bertha & Pathfinder Gold–Silver mines
  • Black Bear, B.C. – Gold
  • Pride of the West, B.C.- Gold
  • Kibby Basin, Nevada – Lithium

* past producing mine

Qualified Person

NI 43-101 Disclosure:

Technical disclosure in this news release has been approved by James Ebisch P.Geo, a Qualified Person as defined by National Instrument 43-101.

A qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves.  As such the issuer, Belmont Resources, is not treating this historical estimate as current mineral resources or mineral reserves.

(1) Mineral resources which are not mineral reserves do not have demonstrated economic viability.

(2) Gold equivalent (AuEq) grade was calculated utilizing a gold price of US$593/oz and copper price of US$2.84/lb., based on the 24 month (at July 31, 2007) trailing average of gold and copper prices, to obtain a conversion factor of % copper x 3.284 + gold g/t = Au Eq g/t. Metallurgical recoveries and smelting/refining costs were not factored into the gold equivalent calculation.

 

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061

Email: george@belmontresources.com

Website: www.BelmontResources.com

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.