Belmont Closes Private Placement FOR $200,000
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 CLOSES PRIVATE PLACEMENT FOR $200,000
Vancouver, B.C. Canada, June 26, 2017 – Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; DTC Eligible –
CUSIP 080499403 ); (“Belmont”, or the “Company).
Financing:
Further to our news release of May 29, 2017, the Company has completed the $200,000 private placement financing.
The Company has issued 4,000,000 units (the “Units”) at a price of $0.05 per Unit for gross proceeds of $200,000.
Each Unit will consist of one commo n share of the Company and one transferable share purchase warrant (a
“Warrant”). Each whole warrant will permit the holder to acquire one additional share of the Company at a price of
$0.08 in the first year (up to June 26, 2018) and at $0.10 in the seco nd year after closing on or before June 26, 2019.
Nine placees participated including one insider for 100,000 units. A finder’s fee of $2,500 cash is being paid.
The Common Shares and Warrants are subject to a statutory hold period until October 27, 2017.
The Company intends to use the net proceeds for continued exploration on the Kibby Basin, Nevada lithium
property and general working capital.
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
-Facebook https://www.facebook.com/Nevadalithium/
-Twitter https://twitter.com/Belmont_Res
On March 30, 2016; the Company acquire d sixteen placer (16 ) mining claims, representing 1036 hectares (2,560 acres) in Esmera lda County,
Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley, Nevada -U.S.A. The Company believes the property to be
highly prospective to host lithium.
On July 11, 2016; the Company reported it has arranged the staking of 213 x 20 acre additional placer mineral claims totaling approx. 1724
hectares ( 4,260 acres) , adjoining the Kibby 16, increasing the total Kibby Basin land position (the “Property”) to 2760 hectares (6,820
acres).
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportuni ties for its two
significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan,
Canada
ON BEHALF OF THE BOARD OF DIRECTORS
“Gary Musil”
Gary Musil, Corporate Secretary/CFO/Director
This Press Release may contain forward -looking statements that may involve a number of risks and uncertainties, based on assum ptions and judgments of
management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk facto rs beyond its control. Forward looking
statements in this news release include statements about the possib le raising of capital and exploration of our properties. Actual events or results could differ
materially from the 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 fulfill ed and we may not be able to
organize and carry ou t an exploration program in 2016 ; 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 assum es no obligation to update
these forward-looking statements, or to update the reasons why actual results differed fr om 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 Vent ure Exchange) accepts responsibility
for the adequacy or accuracy of this news release.