Belmont Resources Inc. (“BEA”) and International Montoro Resources Inc. (“IMT”) are pleased to report that a new uranium bearing structure has been discovered in its first drilling program on the Crackingstone property. A total of 10 of 20 proposed drill holes have been completed for a total of 1663.4 meters, on the Crackingstone property west of Uranium City, Northern Saskatchewan. This 20-hole drilling program is testing an 1800 meter long conductor coincident with the NE Boom Lake Fault. All 10 holes to date have intersected radioactive mineralization over variable widths. Eight of the holes have tested a 600 meter strike length of the 1800 meter long conductor starting from Beck 94 showing. The drilling is located in the northern portion of claim S-108022 (Crackingstone), with hole-depths ranging from 90.5 meters to 285.3 meters. The uranium mineralization intersected in the drilling is very similar to that observed at Beck 94 during the 2007 surface sampling program. A representative grab sample collected from Beck 94 during the 2007 sampling program assayed 1.24% U3O8.
The drilling program is about 55% completed with another 10 holes planned to test the northerly extension of the conductor. Multiple zones of radioactive mineralization have been encountered in all drill holes. Yellow staining is noted in the core, associated with radioactive mineralization. Uranium mineralization is usually contained in fractured and sheared, altered, hematized, chloritized and carbonatized sedimentary, and felsic intrusive rocks, and sometimes in pegmatitic rocks. Graphite, biotite and sulphide mineralization have also been noted in the radioactive mineralized zones. The mineralized widths vary from 0.1 meters up to 24 meters.
Several known showings are located further north, east and west of this conductor. The Beck 48 (the “Adit”) showing is located 500 meters north of the present drilling. A grab sample taken in 2006 from this Adit returned an assay of 7.72% U3O8. The remaining drill program will continue testing the conductor northward for an additional 900 meters. These drill holes will test the intersection points of four additional cross-structures along strike. High radon gas anomalies were detected along this conductor in proximity to these cross-structures. The Cinch Uranium Mine is located at the intersection point of the Black Bay Fault with the Crackingstone Fault. Beck 94 appears to be located at the intersection point of the NE striking Boom Lake Fault with the Crackingstone Fault (south splay cross fault). Uranium mineralization has also been intersected in holes C9 and C10 which are located at and on a cross-structure (65,350 + cps reading in 2007 sampling). At least three more holes are proposed at the intersection point of this cross-structure. The 2006-2007 winter geophysical survey identified a total of 25 conductors on this claim. Many of these conductors are coincident with known uranium occurrences and many of these conductors have not been drill tested.
Twelve historical trenches were excavated in 1951 across 18 meters near the Beck 94 showing. Historical channel sampling at Beck 94 returned assays from trace up to 1.09% U3O8, with 25 samples averaging 0.18% U3O8. The 1.09% was over 0.45 meters (1.5 feet). Grab samples taken by Belmont-Montoro in 2007 from these trenches assayed 1.24%, 0.40%, 0.09% and 0.05% U3O8.
The Uranium City camp has had historical production of over 70,584,000 lbs. U308. The average grade of some of the past producers was as follows: The Ace and Fay Mine was 0.28% U308 (30 mil. lbs.), 0.19% at the Verna-Bolger Mine (15.3 mil.lbs.), 0.20% U308 at the Rix-Smitty Mine (1.13 mil. lbs.), 0.18% U308 at the Gunnar Mine (19.25 mil lbs.), and 0.26% U308 at the Cinch Lake Mine (739,000 lbs.). The Gunnar Mine was an open pit operation, and 15 other past producers were underground operations.
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. Belmont (50/50) with International Montoro Resources Inc. has acquired two significant uranium properties (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. The Company also holds interests (50/50 with Int. Montoro) in two claim blocks in the Central Mineral Belt in Labrador.
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
“GARY MUSIL”
Gary Musil,
CFO/Director
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.