PRELIMINARY REPORT – BEATTY TWP. – TIMMINS MINING CAMP

Belmont Resources Inc. (“BEO”) has received a preliminary report from its consultant James G. Burns, B. Sc., P. Eng. of Timmins, Ontario.

Belmont has acquired 100% interest in 4 claims – the West block – 96 hectares and the East block – 176 hectares, located in Beatty Twp. some 80 Km. ENE from the city of Timmins and 14 km northeast from the town of Matheson. Since much of the past work conducted in the area in general and on the ground in particular was geophysical in nature, the data was collected and summarized.

Mr. James Burns reports “Both claim blocks have potential to host gold deposits, more so for the western block. Favourable factors to support this statement are as follows:

• Both are underlain in the main by tholeiitic rocks and in part by iron-rich tholeiitic rocks which host many gold deposits in Ontario.
• There have been several past producers, albeit small producers, on strike in the immediate area in the same Kidd?Munroe assemblage of rocks. One of these deposits, the Croesus, was of exceptional high grade.
• Reserves at the Maude Lake deposit indicate that larger deposits might exist in the Kidd-Munroe assemblage.
• Recent exploration activity by Tom Exploration immediately to the southeast and on strike with Belmont's claims has resulted in the discovery of 10 new gold occurrences over a 6 km strike length.
• Structures favourable to the development of gold deposits are present in the area of the claims. The Painkiller Lake fault with which the Blue Quartz mine is associated, passes ~1 km south of the Western claim block. Flexures in the diabase dyke that cut through the western blocks are possible evidence for lithological strike parallel structures parallel to the Painkiller Lake fault. If these strike parallel faults exist, then their intersection with the cross faults interpreted from the Equinox ? Maude Lake JV airborne survey would provide a convenient locale for mineralizing fluid deposition.
• On the Western claim block electromagnetic anomalies detected during an airborne survey may indicate the presence of sulphide mineralization. Such mineralization often accompanies gold deposits.”

Belmont expects to mobilize field exploration crews in the next month to commence its initial program on these claims.

Belmont is a Canadian exploration company with projects in northeastern Ontario (Tolmie and adjacent Townships – James Bay Lowlands – 15 claims – diamond prospects); (Beatty Township – Larder Lake – Timmins Camp – 4 claims – gold prospects); and now in northwestern Ontario (Bateman/Shaver Townships – Red Lake Camp – gold prospect).