BELMONT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Belmont Resources Inc. (“BEA”) (the “Company”) has closed the first tranche of the private placement as per the TSX Venture Exchange bulletin dated April 15, 2009.
The Company has issued 5.7 million units at a price of $0.02 per unit to net $112,080 to the treasury after paying finders’ fees of $1,920. 96,000 common shares were also issued as a finders’ fee. The units consist of one share and one share purchase warrant exercisable at $0.05 per share until April 17, 2010 and $0.10 per share after April 17, 2010 until April 17, 2011. The shares and warrants are subject to a four-month hold period expiring August 18, 2009.
The Company intends to utilize the proceeds of the private placement for maintenance of its Uranium City area –Saskatchewan properties, and general working capital.
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. The Company also holds interests (50/50 with Int. Montoro) in two uranium claim blocks in the Central Mineral Belt in Labrador. Other properties: Holds interests (50/50 with Int. Montoro) in three claim blocks in the Red Lake, Ontario gold camp and a 12.5% interest in a West Voisey’s Bay, Labrador joint venture –112.75 sq. km nickel/copper/cobalt property.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.