Belmont Resources Updates Private Placement Financing
Belmont Resources Updates Private Placement Financing
April 7, 2025 -Vancouver, B.C., Canada; Belmont Resources Inc. (“Belmont” or the “Company”) (TSX.V:
BEA; FSE: L3L2) announces that further to its press release dated April 3, 2025 wherein it was announced
the intention to undertake a private placement to raise $1,363,500 through the issuance of 30,300,000
common shares at $0.045 , the Company will now apply to the TSX Venture Exchange for conditional
approval to the financing and request approval to close a 1st tranche as to $180,000 and issue 4,000,000
common shares. The common shares to be issued will be subject to a hold period expiring four months
and one day from issuance.
The 2nd tranche of the private placement will close after the Company receives shareholder approval at
the annual and special meeting to take place at 11:00 AM (Pacific Time) on May 30, 2025 (the “Meeting”).
The record date for the Meeting has been set for April 25, 2025. Refer to the Company’s press release
dated April 3, 2025 for more information.
The Company intends to use the net proceeds from the private placement as to $1,100,000
exploration/drilling; $75,000 management fees; $15,000 accounting; $20,000 legal; $2,500 wire services;
$151,000 unallocated working capital. While the Company intends to spend the proceeds from the
financing as stated above, there may be circumstances where, for sound business reasons, funds may be
reallocated at the discretion of the Board.
About Belmont
Belmont has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths
projects located in British Columbia, Saskatchewan, Washington and Nevada States.
NEWS RELEASE
April 7, 2025
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
Crackingstone Uranium –Located in Saskatchewan's uranium-rich Athabasca Basin. Key highlights of the
project include:
• Exceptional High-Grade Uranium Potential: The property has demonstrated historic grab sample grades
of up to 15.6% U₃O₈. Previous mining on the site produced 11 tons at an average grade of 2.3% U₃O₈.
• Extensive Mineralized Corridors: Three major conductive and structural mineralized corridors, totaling
10 kilometers in length, have been identified and are associated with high-grade uranium occurrences.
• Comprehensive Drilling Program: Belmont has submitted a permit application for a two -year drilling
initiative, which includes 40 drill holes totaling 10,000 meters. This program reflects the company’s
confidence in the property’s potential to host significant uranium resources.
Situated just six kilometers from Uranium City, the Crackingstone property benefits from excellent
infrastructure, including road access, power availability, and logistical support. Belmont’s exploration
efforts also include evaluating rare earth element ( REE) potential on the property, further enhancing its
strategic importance.
Come By Chance (CBC) Copper-Gold Porphyry Target – British Columbia:
• Drill Permits Secured: Drilling to date has intersected the outer phyllic alteration zone of the
porphyry system, a key indicator of proximity to the porphyry core.
• Compelling Target Identified: Exploration results are vectoring toward a large, untested chargeability
and magnetic anomaly. This anomaly is considered one of the most promising targets for a vertically
extensive porphyry center.
• Phase 2 Drilling Scheduled: A second phase of drilling is planned for Q3 2025 to test this high-priority
target.
The CBC project is situated in the Greenwood mining camp, an area known for its rich history of copper
and gold production. This next phase of exploration aims to unlock the potential of a significant porphyry
copper-gold system.
Athelstan-Jackpot (A-J) Gold – British Columbia: Drill Permitted;
A-J Gold Project, which includes two historically productive gold mines—Athelstan and Jackpot—that
yielded 7,600 ounces of gold and 9,000 ounces of silver. Key highlights of the project include:
• Extensive Surface Mineralization: A 1,500 -meter gold trend with widespread surface gold
mineralization has been identified.
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Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615 – 800 W. Pender Street,
Vancouver, B.C. V6C 2V6
Ph: 604-505-4061
BEA TSX.V
• Potential Resource Estimate: Previous trenching and sampling suggest a potential resource of 2,000
to 5,000 ounces of gold in surface and near- surface mineralized areas (2002 Summary Report by R.E.
Miller, P.Geo).
• Exploration Focus: Belmont is investigating the potential for economic gold grades in mineable
surface and near-surface ore zones along this trend.
• Upcoming Drilling Program: In Q2 2025, drilling will target high -resistivity zones identified as
potential feeders coincident with surface gold occurrences.
Lone Star Copper-Gold - Washington: 50% optioned to Australian Marquee Resources ASX:MQR; MQR
has spent $2.5M in drilling, completed new resource in Dec. 2022 and a PEA in November 2023.
Kibby Basin Lithium - Nevada: 80% optioned to Australian Marquee Resources ASX:MQR; project located
60 kilometers north of the lithium rich Clayton Valley Basin. MQR has spent $2.5M in drilling in 2022 for
potential deep seated lithium brine. 2022 Drilling confirmed high levels of lithium -bearing sediments
along with dissolved lithium in the groundwater.
ON BEHALF OF THE BOARD OF DIRECTORS
“George Sookochoff”
George Sookochoff, CEO/President
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 control. 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 out an
exploration program in 2025, 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.