Belmont Continues Drilling at Kibby, Nevada Lithium Project & Extends Terms with Mgx Minerals Inc.
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 CONTINUES DRILLING AT KIBBY, NEVADA LITHIUM PROJECT & EXTENDS
TERMS WITH MGX MINERALS INC.
Vancouver, B.C. Canada , March 4, 2019 ; (“Belmont Resources Inc. (“Belmont” or the
“Company”) (TSX.V: BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403).
Kibby Basin –Hole KB-4 Update:
Further to our March 1, 2019 news release, Belmont and MGX announces drilling KB -4 has
reached a depth of 615 feet and will continue to a targeted depth of approximately 900 feet into
lakebed sediments. The hole targets a potential fault as interpreted from the geophysical survey
data, which looks deep into sub-surface layers.
MGX Minerals Inc. extension:
Belmont is pleased to announce the signing of a Letter of Extension to April 30, 2019 with MG X
Minerals Inc. (CSE: XMG) on its earn-in agreement on the Kibby, Nevada lithium project.
MGX has currently earned a 25% interest in the Kibby, Nevada project. At the discretion of
MGX they may acquire an additional 25% interest (for a total of 50%) by MGX incurring
exploration expenditures of $300,000 (the “Additional Funds”) on additional drill holes and upon
completion of the additional expenditures become the operator on Kibby.
About Belmont Resources Inc.
Belmont is an emerging resource company eng aged 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
Belmont owns 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 currently earned a 25%
interest in the Kibby project and has the right to increase this to 50% by expending an additional
$300,000 on exploration and become the operator.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is explori ng
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
“James H. Place”
James H. Place, CEO/President
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 a nd 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 the Companies for ward-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 a s 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.