Belmont Engaging Drilling Contractor FOR Kibby Basin, Nevada Lithium Property
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 ENGAGING DRILLING CONTRACTOR FOR KIBBY BASIN, NEVADA
LITHIUM PROPERTY
Vancouver, B.C. Canada, February 23, 2017 – Belmont Resources Inc. (TSX.V: BEA; FSE: L3L1; (“Belmont”,
or the “Company).
Kibby Basin Drilling:
Belmont Resources Inc. is in the process of engaging a Nevada drilling contractor with lithium brine drilling
experience to commence the first phase drilling program consisting of approx. 1500 feet of sonic drilling.
Robert Cuffney, Exploration Geologist has recommended the first fo ur holes (two 500 f oot holes and two
approximately 250 foot deep holes ), based on the results received by the ground geophysics report and gravity
survey completed in 2016. Three of the proposed drill holes are locat ed near the eastern basin -bounding fault,
where lithium brines are likely to well up in the structural zone, analogous to the concentration of lithium brines
along the Paymaster fault in Clayton Valley. The fourth hole is a stratigraphic hole located near the central axis of
the basin, designed to test for porous basin sediments, which could serve as aquifers for lithium brines.
The decision to begin with sonic drilling was made for several reasons:
1) Continuous core yields far better geologic information than does percussion or reverse circulation (RC)
samples, which in fine playa sediments tend to wash away;
2) Using core, we will not have to run downhole geophysics to find the aquifers, saving time and cost;
3) Good water/brine samples can be obtained without contamination from drilling fluids/muds;
4) Sonic drilling does not require injecting water, which reduces costs for hauling and construction of
large sumps
5) Sonic drilling tends to not destabilize the hole walls through vibration as does percussion/hammer
drilling
Belmont anticipates the drilling to commence as soon as possible, depending on availability of drill crews and
access to the drill sites following an unusually wet winter.
NI 43-101 Disclosure
Robert (“Bob”) G. Cuffney, Certified Profession al Geologist, a Qualified Person as defined by National Instrument
43-101, has reviewed and approved the technical information in this news release.
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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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 Internationa l Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities 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
“Vojtech Agyagos”
Vojtech Agyagos
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 fu ture 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 pr operties. 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 fulfilled 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 from those p rojected 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.