Belmont Resources Inc. (“BEA”), the (“Company”) is pleased to announce the sample assay results from the summer exploration program on historical uranium occurrences on the Crackingstone-Orbit properties, Uranium City, Saskatchewan. The Company and its joint venture partners International Montoro Resources Inc. (“IMT” on TSX.V) and Ultra Uranium Corp. (“ULU” on TSX.V) have confirmed additional presence of strong uranium mineralization at several showings. These sample results and the recent airborne magnetic and radiometric surveys will be utilized for defining the drill program planned for the first quarter of 2008. A detailed map outlining the locations of each of the samples will be available on the Company web site located at: www.belmontresources.com.
The summer program consisted of 278 channel and 12 grab samples from 18 of
32 known uranium showings. All samples contained uranium 
values.
Two of the showings, Beck #236 and Beck #183 had spectrometer readings over
65,350 cps (beyond instrument limits). Some of the highest assays were obtained
from Beck 94 (1.24% U3O8), Beck 110 (0.132% U3O8), Beck 183 (0.12% U3O8), Beck
44 (0.75% U3O8) and Beck 89 (0.81% U3O8). A total of 81 of the 290 samples assayed
over 75 ppm uranium (>0.009% U3O8), 34 samples over 500 ppm uranium (>0.059%
U3O8), 21 samples over 1000 ppm uranium (>0.12% U3O8), and 5 samples over
5000 ppm uranium (>0.59% U3O8).
Conversion factor: multiply ppm uranium x 1.1792, then to convert to ppm U3O8, divide by 10,000 = % U3O8
CRACKINGSTONE CLAIMS – 982 ha
Beck 94 –near the intersection of Crackingstone & Boom Lake
Faults
The highest assay was taken from Beck 94, grab sample # 123845, which returned
10,500 ppm uranium (12,381 ppm U3O8 or 1.24% U3O8). Three additional samples
from this showing returned the following assays: chip sample # 123843 - 0.47%
U3O8 across 0.25 meters, chip sample # 825910 – 0.34% U3O8 across 0.25
meters, and grab sample #825905 – 0.13% U308. In the later 1960s, Mukta
(Canada) Ltee. drilled Hole # 230-10 under this showing returning an assay of
0.72% U3O8 over 5.1 feet. Also, 3 channel samples taken by Mukta assayed 3.11%
U3O8 over 1.0 foot, 1.09% U3O8 over 1.1 feet and 0.90% U3O8 over 1.2 feet. The
uranium mineralization may extend northward beneath a swampy area, based on
observations noted this summer, towards showings Beck 233, 236 and 237. No drilling
has been carried out northward into this area. These historical results have
not been confirmed by the Company and are not NI 43-101 compliant. Part of the
2008 drilling program will test the uranium potential of these showings.
Beck 236 (Rix 104)- adjacent to the Crackingstone Fault
Sample # 825901 from this showing assayed 0.56% U3O8. This showing is on strike
with to the northeast with Beck 232 and with Beck 233, Beck 94, Rix 57 and 58
to the southwest and along the Boom Lake fault. All of the above showings are
located along a series of uranium anomalies along this fault.
Beck 110 –west of Adit #7, between Spot Lake & Boom Lake Faults,
north of the Crackingstone fault.
A single sample # 123674 from here assayed 0.132% U3O8. Historical drill core
intersections of up to 15.6% U308 and two bulk samples (46 ton and 6.5 ton)
assayed 0.5% uranium. A sample #336915 taken from the #7 Adit during the 2006
property visit assayed 6.54% uranium.
Rix #57 and #58
This showing consists of a 5 to 10 meters wide ridge of uranium bearing massive
and brittle quartzite. Yellow staining can be observed on outcrop within fractures
and breccia zones for over 300 to 400 feet along the ridge. The 2007 exploration
program confirmed a previous notation of strong spectrometer readings (up to
13,000cps) northward from Rix 58. This showing appears to be on strike southwestward
from showing Beck 94.
ORBIT CLAIMS - 11,109 ha
Beck 183 - Kaput Lake Area
A grab sample # 123822 from the Kaput Lake showing, assayed 0.12% U3O8. A spectrometer
reading of 65,350+ cps was obtained from one of the pits on this showing. This
showing is located west and adjacent to a
1 km long NE trending airborne uranium anomaly. This anomaly is also located
adjacent to the Spot Lake Fault which hosts several uranium showing to the southwest
and northeast.
Beck 44 –Sask. Mineral Index (“SMI” # 1451) - Augier Lake
Showing and Shaft
The summer program identified three parallel radioactive zones at this location.
Two of the zones were sampled. Three samples returned the following assays:
representative grab sample # 123616 – 0.23% U3O8, grab sample # 123618
– 0.75% U3O8, and chip sample # 123623 – 0.40% U3O8. This showing
is coincident with one of the 2007 airborne radiometric anomalies. Much larger
and stronger uranium anomalies were detected west, northwest, north and northeast
of this showing. In 1951, Orbit Uranium Development obtained two additional
grab samples from the main zone assaying 2.85% and 2.88 % U3O8. Two of the zones
were traced on strike for 500 feet (1951-52). The main showing was drill tested
along a strike length of 2400 feet with 11 shallow diamond drill holes. A shaft
was sunk on the main east zone in 1959 and 15 tons of unreported grade was shipped
to a local mill. Orbit Uranium Developments Ltd took 9 channel samples along
131 feet of the main vein that averaged 0.53% U3O8 across 2.2 feet. These historical
figures are not confirmed by the Company and are not NI 43-101 compliant.
Beck 89 -SMI # 1454 -Near north shore of Orbit Bay
Two samples from this showing assayed as follows: a chip sample # 123700 –
0.81% U3O8 and a second chip sample # 123833 – 0.80% U3O8. Orbit Uranium
Development Limited (1951) reported 21 small selected grab samples containing
veined pitchblende assaying from 2.42% U3O8 to 22.12% U3O8. Two more samples
taken by Orbit Uranium from pegmatites located 800 feet to the west of this
showing, assayed 0.18 % U3O8 and 0.13 % U3O8. They concluded that the pegmatitic
zone has a potential for the discovery of a large tonnage low grade deposit.
These historical figures were not confirmed by the Company and are not NI 43-101
compliant, however the 2007 airborne radiometric survey has identified a significant
Uranium anomaly coincident with the pegmatite showing.
SUMMARY CONCLUSIONS
The results from the limited 2007 channel sampling program, has confirmed the presence of strong uranium mineralization at several showings. They are the Augier Lake showing (Beck 44 -SMI # 1451), Beck 94 showing and Beck 89 -SMI # 1454 located in the southwest portion of the property on the north shore of Orbit Bay.
The 2007 exploration sampling and airborne radiometric and magnetic survey program has identified and confirmed many uranium targets requiring follow-up evaluation for their uranium potential, especially in the East-West trending Crackingstone fault around Beck 94, the Orbit Bay area and west, northwest, north and northeast of Augier Lake (SMI# 1451).
All samples were processed at the Saskatchewan Research Lab in Saskatoon, Saskatchewan.
This news release was reviewed and approved for technical disclosure by Raymond A. Bernatchez, P.Eng., Consulting Geologist, an independent qualified person under NI 43-101.
About Belmont Resources Inc.
Belmont Resources Inc. is focused on acquiring and developing uranium properties
in developed and emerging uranium districts, and continued development of mineral
projects in Ontario. Belmont (50/50) with International Montoro Resources Inc.
has acquired significant uranium properties located in the Central Mineral Belt
Uranium District in Labrador (recently optioned to Crosshair Exploration (TSX.V:
CXX) and two claim blocks (Crackingstone –982 ha & Orbit Lake –11,109
ha) in the Uranium City District in Northern Saskatchewan (recently optioned
the Orbit claim block to Ultra Uranium Corp. (TSX.V:ULU). Belmont has also staked
(100% owned) 63,184 ha in the Wollaston/Reindeer Lake-Compulsion Bay area, southeast
Athabasca Basin, Saskatchewan.
Further information can be obtained from the Company website at www.BelmontResources.com and www.sedar.com, or by phoning 604-683-6648 or contact Dean Stuart at 403-517-2270.
ON BEHALF OF THE BOARD OF DIRECTORS
“VOJTECH AGYAGOS”
Vojtech Agyagos,
President/Directo
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.