Vancouver, B.C. Canada, December 5, 2011 – Belmont Resources Inc. (“Belmont”, the “Company” or “BEA”) and its 50% j.v. partner, International Montoro Resources Inc. (TSX.V –IMT) returned in September 2011 to the Orbit-Crackingstone property (12,091 ha) to conduct a sampling program.
The objective of this first sampling program was to collect channel samples from the strong anomalies identified from airborne radiometric, electromagnetic and magnetic surveys conducted on the Orbit Lake and Crackingstone properties in 2007-08. Previous work at two of the sites (Orbit Bay and Lake areas) are known to contain uranium in pegmatites and it was also the objective of this program to test these pegmatites for their rare earth elements contents and their control. A total of 25 samples were taken (24 channels and 1 grab) from three separate radiometric targets. Two targets were selected on the Orbit property, one near the north end of Orbit Lake and a second target near the north shores of Orbit Bay.
All samples were analyzed for uranium, thorium, and light and heavy rare earth elements, multi-elements and for whole rock analysis. The samples were assayed at Saskatchewan Research Council (SRC) Geo-analytical Laboratories in Saskatoon, Sask.
Belmont and Int. Montoro (the “Companies”) have been reviewing the progress of the Hoidas Lake Rare Earth Project, 100% owned by Great Western Minerals Group Ltd., one of North America’s most significant, neodymium-enriched, primary Rare Earth Element (REE) properties currently under development. Hoidas Lake lies just 50 km northeast of Uranium City, Saskatchewan.
Considering the nature of the program and the random channel sampling, the Companies believe the results were very positive and will be very helpful in pin-pointing where to focus on the next phase of exploration. 3 samples assayed over 1200 ppm TREO’s = Total Heavy Rare Earth Oxides (“HREO”) plus Light Rare Earth Oxides (“LREO”). 3 approx. 1metre trench channel samples assayed 1,424.0 ppm, 1,252.1 ppm, and 1,250.4 ppm TREO.
Light Rare Earth Elements (“LREE’s”) – The total of the various samples were from 246.3 to 1149.2 ppm LREE’s with the highest contents in Zr (Zirconium) up to 474 ppm and Rb (Rubidium) up to 337 ppm. The samples were anomalous in Ce (Cerium) up to 203 ppm, Ne (Neodymium) up to 117 ppm, La (Lanthanum), Pr (Praseodymium), Sm (Samarium) plus up to 652 ppm in Th (Thorium) and 620 ppm in V (Vanadium).
Heavy Rare Earth Elements & Y (Yttrium) (“HREE’s”) - The totals assays of the samples were from 11.67 to 149.4 ppm HREE’s with the highest in Y up to 81.3 ppm. The samples were anomalous in Ga (Gallium) up to 22.2 ppm, Gd (Gadolinium) up to 21.1 ppm, Dy (Dysprosium) up to 16.6 ppm, Tb (Terbium), Eu (Europium), Ho (Holmium), Er (Erbium) up to 8.53 ppm, and Yb (Ytterbium).
Orbit Lake Area - A total of 6 samples (5 channel and 1 grab) were taken from this radiometric target located along the west slope of a northeast trending valley. This anomaly was found to be caused by multi-parallel northeast striking pegmatite dykes varying 1 to 3 meters wide. The anomaly along the NW shores of Orbit Bay is traceable for over 4 km. The channel sampling was taken from one location along this anomaly and the grab sample was taken from an old trench located on strike, 400 m NE of the channel sample location. Spectrometer readings up to 1800 cps were used to locate the sampling area.
Orbit Bay Area (Beck #4) – This site was selected because of historical work by Orbit Uranium. They reported uranium values of up to 0.2% U308 in pegmatites. The 2011 sampling survey was successful in locating the old trenches located 500 meters north of the Orbit Bay. Our previous airborne survey shows an eq U count of about 500 ppm coincident with the old trenches. A total of 5 trenches were located of which 3 were sampled. Spectrometer readings up to 5500 cps were obtained from trench #1 and up to 6800 cps from Trench #5. A spot reading of 10,000+ cps was taken from a narrow fracture 3 meters west of trench #2. A total of 11 channel and chip samples were taken from Trenches #1, 2, and #5.
A traverse was carried out 300 to 400 meters further north of the old trenches were our airborne survey detached a higher and longer uranium count along a strike length of over 1 km. The geology of this area was found to be similar to that found around the old trenches to the south, however no historical records of trenching or drilling, therefore another prospective exploration area.
Spot Lake East – This area was selected because of the proximity to eq. U and eq. Th airborne anomalies, historical drilling south of Spot Lake and the presence of a high magnetic anomaly in the sampling area. Three radioactive areas were selected for sampling with readings ranging from 900 cps up to 7000 cps. A syenite rock was identified in one of the sampled areas. A total of 8 channel samples were taken from Spot Lake. The most significant was sample #1085509 which assayed 133.0 HREO and 780.9 LREO for a total 913.9 TREO.
The observations made from the analysis of the samples indicate that uranium and rare earth elements are associated with pegmatites and Syenitic rocks with higher values in the fractured and sheared rocks.
This press release has been reviewed and approved for technical disclosure by Raymond A. Bernatchez, P.Eng. Consulting Geologist an independent qualified person as defined in NI 43-101.
About Belmont Resources Inc.
Belmont has recently entered into an option to acquire 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan and adjoining on strike to the north-northeast with the Osisko Mining Corp. (former Brett Resources Inc.) “Hammond Reef” deposit.
Belmont (50/50) with International Montoro Resources Inc. has acquired and explored 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 Res.) in one rare earth mineral and one uranium claim block 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.
ON BEHALF OF THE BOARD OF DIRECTORS
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. 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.