Belmont Acquires Two Additional Claims in the Historic Greenwood Gold Camp
News Release
Belmont Acquires Two Additional Claims
in the Historic Greenwood Gold Camp
Vancouver, B.C. Canada, November 21, 2019; Belmont Resources Inc (TSX.V: BEA)
(“Belmont”), (or the “Company”) is pleased to announce the acquisition of 100% interest in the
Pride of the West Crown Granted Claim and the Great Bear Reverted Crown Grant (the
“Claims”) containing approx. 45 hectares in the historic Greenwood Gold Camp in southern
British Columbia.
The properties are located six kilometer west of the city of Greenwood, B.C. and nine kilometers
north-west from the city of Grand Forks, B.C. The properties have year-round access, are easily
accessible from the nearby Highway #3 and a powerline crosses the claims.
The Claims are situated 1 km south -east of the historic Phoenix Open Pit Mine which produced
over 1 million ounces of Gold and 500 million pounds of Copper up to 1978 (historical results) and
500 meters north-west of the Golden Crown Mine which contains a NI 43-101 compliant indicated
resource of 163,000 tonnes containing 62,500 of gold equivalent ounces and an inferred resource
of 42,000 tonnes containing 13,100 of gold equivalent ounces (source: GOM website).
(click here to view map)
Suite 600 - 625 Howe Street,
Vancouver, B.C. V6C 2T6
Ph: 604-683-6648
A total of 2,488 tonnes grading 15.4 g/t Au and 1.5% Cu were reportedly mined from the Golden
Crown Vein during the early part of the 1900’s, although the extent of workings and dumps
suggest more (BC Minfile). Production came from a steep south dipping vein averaging 1.5 m in
thickness, via three stopes on the 100-foot level within 55 m of the shaft.
(click here to view map)
The Great Bear and Pride of the West properties run parallel to a corridor of west northwest
trending sub parallel and closely spaced, steeply dipping massive sulfide and quartz-sulfide veins
occurring in the southeastern part of the adjacent Golden Crown property as part of a 4 km long
gold/copper system defined by drill hole intercepts, trenches, gold soil geochemical anomalies
and geophysical (“VLF”) anomalies. The Glenora claims lie directly South East of the gold/copper
system.
(click here to view map)
Golden Dawn Minerals reported in a December 4, 2017 news release results from surface
diamond drilling at its Golden Crown property. Drill hole GC17-02 intercepted 12.3 meters (9.24-
21.58 m), 3.53 g/t Au, 0.11% Cu, Including: 4.6 meters (17.0-21.58 m), 7.60 g/t Au, 0.13% Cu.
Drill hole GC17-05 intercepted 6.95 meters (14.65-21.60m), 6.77 g/t Au, 1.18% Cu, Including:
2.69 meters (18.13-20.82m), 16.48 g/t Au, 1.96% Cu.
Belmont plans to compile additional data on the ‘Black Bear’ reverted crown grant; and the ‘Pride
of the West’ crown grant as well as the Glenora claims in order to plan the best possible
exploration program to further enhance the properties.
Terms of the Acquisition Agreements:
The Claims have been acquired from two non -related third parties (the “Vendors”) under the
following terms:
1) 100,000 common shares (the “Shares”) to each Vendor upon TSX Venture Exchange
approval. The Shares will be subject to a 4 month+1 day hold period from the
issuance date;
2) On completion of a financing or 120 days whichever comes first , the payment of
$25,000.
Other Business:
Re: EuroGas Inc. and Belmont Resources Inc. v. Slovak Republic.
(International Centre for Settlement of Investment Disputes – “ICSID” – Annulment Proceedings)
Proceedings through ICSID have formally come to a close in Belmont’s action for compensation
from the Republic of Slovakia regarding the Ge merska Poloma talc deposit investment. The
Company has received official notice that the ‘Application for A nnulment of the Decision’
rendered on August 18, 2017 has been discontinued.
About Belmont Resources Inc.
Belmont Resources Inc. is a Canadian based resource company traded on the TSX-V under the
symbol “BEA”. The Company is systematically exploring its extensive property positions in British
Columbia (Gold), Nevada (Lithium) and Saskatchewan (Uranium).
Technical disclosure in this news release has been approved by Laurence Sookochoff, P.Eng., a
Qualified Person as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
Director
Ph: 604-683-6648
Email: [email protected]
Website: www.BelmontResources.com
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.
This Press Release may contain forward -looking statements that may involve a number of risks and uncertainties,
based on assumptions and judgments of management regarding future events or results that may prove to be
inaccurate as a result of exploration and other risk factors beyond its contro l. Forward looking statements in this news
release include statements about the possible raising of capital and exploration of our properties. Actual events or
results could differ materially from the Companies forward -looking statements and expectation s. These risks and
uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may
not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to
organize and ca rry out an exploration program in 2019, and other risks associated with being a mineral
exploration and development company. These forward -looking statements are made as of the date of this news
release and, except as required by applicable laws, the Compa ny assumes no obligation to update these forward -
looking statements, or to update the reasons why actual results differed from those projected in the forward -looking
statements.