Belmont Arranges $50,000 IN Loans & Issues Bonus Shares
BELMONT RESOURCES INC.
#600 – 625 Howe Street, Vancouver, B.C. V6C 2T6
Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: [email protected]
BELMONT ARRANGES $50,000 IN LOANS & ISSUES BONUS SHARES
Vancouver, B.C. Canada , August 16, 2019; Belmont Resources Inc. (“Belmont”), (or the
“Company”), (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499502).
Financing:
Belmont has arranged two Demand Loans for $25,000 each from non -related parties. The
proceeds of the loans are to be used to renew its Bureau of Land Management (“BLM”) claims
in the Kibby Basin, Nevada, for a further 12 months and working cap ital. The Company will
continue to explore other financing to proceed with the exploration of its Pathfinder, Greenwood
gold prospect and seeking a joint venture/option party to continue exploration for further lithium
in the Kibby Basin.
The loans bear interest at 1.5% per month. In consideration for the loans, the Company has also
agreed to issue, an aggregate of 166,666 bonus common shares, at a deemed price of $0.06 per
share. The loans and issuance of bonus shares are subject to regulatory approval , and the shares
issuable pursuant to the agreements will be subject to a four -month + 1 day hold fro m the date
issued.
About Belmont Resources Inc.
Belmont is an emerging resource company engaged in the acquisition, exploration and
development of mineral properties in Canada and Nevada, U.S.A.
For further information see our Website at: www.BelmontResources.com
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-Twitter https://twitter.com/Belmont_Res
(i) On March 28, 2019 Belmont entered into an agreement to acquire 100% interest in 253.34
hectares of mineral claims (now increased to 295.56 ha) which are part of the former
Pathfinder Property, located in the historically productive Republic -Greenwood Gold
District. Copper and gold mining in this camp dates back to the turn o f the century. The
property is currently surrounded on 3 sides by claims held by KG Exploration (Canada) Inc.
(a wholly owned subsidiary of Kinross Gold Corporation).
(ii) Belmont owns 75% of the Kibby Basin Lithium project covering 2,056 hectares (5,080
acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km
north of Clayton Valley, Nevada the location of the only US Lithium producer. MGX
Minerals Inc. (CSE: XMG) has earned a 25% interest in the Kibby project.
(iii) In 50/50 ownership with International Montoro Resources Inc., Belmont owns and is
exploring joint venture opportunities for its significant uranium properties (Crackingstone -
982 ha) in the Uranium City District in Northern Saskatchewan, Canada
ON BEHALF OF THE BOARD OF DIRECTORS
“Gary Musil”
Gary Musil
CFO/Director
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 control. 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 th e
Companies forward-looking statements and expectations. 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 an d we may not be able to organize and carry out an exploration program in 201 9, 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 Company 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.
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.