Belmont Resources Revises News Release Regarding Option Agreement on its Pathfinder Property
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615- 800 W. Pender Street,
Vancouver, B.C. V6C 2T6
Ph: 604-505-4061
BEA TSX.V
Belmont Resources Revises News Release Regarding Option Agreement on
its Pathfinder Property
Vancouver, B.C. Canada, November 26, 2021 (TSX.V: BEA; Frankfurt: L3L2) - Further to the press release
issued by Belmont Resources Inc. (the “Company”) dated August 31, 2021 whereby it was announced of the
entering into a Property Option Agreement with Highrock Resources Ltd. for the disposition of up to a 75%
interest in the Company Pathfinder gold-silver project in the Greenwood Mining District, southeastern, BC.
The Company advises that Gary Musil is a director and officer of the Company and Highrock Resources Ltd.
Highrock Resources Ltd. is a private company.
Under the terms of the disposition agreement, Highrock Resources Ltd. may earn a 75 % interest upon
completion of the following:
• Cash payments totaling $15,000 consisting of: (i) $5,000 upon signing of the option agreement
(received); (ii) $10,000 within one year;
• Issuance of an aggregate of 200,000 shares of Highrock as follows: (i) 100,000 shares upon signing
(received); and (ii) 100,000 common shares on or before six months from the date of the initial listing
of the Highrock shares on the Canadian Securities Exchange (“CSE”);
• Expenditures on the Pathfinder Property totaling $200,000 consisting of: (i) $75,000 on or before the
first anniversary of signing the option agreement (completed); and (ii) $125,000 on or before the first
anniversary of the date of the initial listing of the Highrock shares on the CSE.
About the Pathfinder Property
The Pathfinder property comprises 3 claims covering 295.57 hectares and in the Greenwood Mining District
and is surrounded on three sides by KG Exploration Inc. ( Exploration Division of Kinross Gold ). The
Pathfinder property is part of the Belmont group of claims (see Project portfolio following) that they have
been acquiring in the Greenwood Mining District since 2019.
In 2019 the Company completed a sampling program than provided gold values up to 29.2 grams per tonne
(g/t) Au (quartz-sulphide vein material). (See News Releases from March 28th, May 9th & July 30, 2019). The
work report gives details of surface rock sampling and compilation of previous published and un -published
reports.
The work carried out included a detailed literature review as well as five days on the property carrying out
mapping of outcrops, old mine workings, and other significant features. Fifteen (15) surface rock samples
were also collected from outcrops and old mine waste piles. Gold values ranged from 0.006 ppm Au (altered
silty volcaniclastics) to 29.2 grams per tonne (g/t) Au (quartz -sulphide vein material), with seven (7) of the
samples returning grades of >1 g/t Au along with elevated to anomalous silver and base metal values.
NEWS RELEASE
November 26, 2021
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615- 800 W. Pender Street,
Vancouver, B.C. V6C 2T6
Ph: 604-505-4061
BEA TSX.V
The mapping and sampling program verified the presence of multiple zones of quartz s ulphide vein and
massive pyrite-pyrrhotite-chalcopyrite replacement/skarn mineralization that warrant follow-up.
The property has had small scale, high grade gold mining with silver as an accessory product since the late
1800’s. Belmont has information from mining reports and studies carried out by other companies as well as
the recent assay and survey data in order to plan the next stage of exploration on Pat hfinder including
strategically locating drilling targets.
Figure 1: Location of previous trenching work carried out in 2008 showing channel sample of massive
pyrite – pyrrhotite replacement of Triassic volcaniclastics and Cretaceous granodiorite
Figure 2: Old Collapsed Adit from the historic Pathfinder Workings.
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615- 800 W. Pender Street,
Vancouver, B.C. V6C 2T6
Ph: 604-505-4061
BEA TSX.V
Belmont Signs Finder’s fee Agreement on Kibby Lithium Property
Further to our news release of November 4, 2021 the Company reports it has signed a Finders Fee
agreement with an unrelated 3rd party regarding the agreement signed with Marquee Resources Ltd., on
the Kibby Basin, Nevada project.
The Company has agreed, subject to regulatory approval to issue 500,000 common shares, subject to
regulatory approvals at a deemed price of $0.06 per share. Shares are subject to a 4 month +1 day hold
period from issuance. The finder’s fee is subject to regulatory approval.
Qualified Person
Laurence Sookochoff, P.Eng., a director of Belmont Resources and a Qualified Person as defined by
National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained
within this news release.
About Belmont Resources
Belmont Resources is engaged in the business of acquiring and re-developing past producing copper-gold-
silver mines in southern British Columbia and Northern Washington State. This region is considered to have
the highest concentration of mineralization and past producing mines in western North America. By utilizing
new exploration technology, geological modelling and specialized 3D data analysis , the company is
successfully identifying new areas of mineralization beneath and/or in the near vicinity of the past producing
mines.
The Belmont project portfolio:
• Athelstan-Jackpot, B.C. – *Athelstan & Jackpot Gold-Silver mines
• Come By Chance, B.C. – *Betts Copper-Gold mine
• Lone Star, Washington – *Lone Star Copper-Gold mine
• Pathfinder, B.C. – *Bertha & Pathfinder Gold–Silver mines
• Black Bear, B.C. – Gold
• Pride of the West, B.C.- Gold
• Kibby Basin, Nevada – Lithium
• Crackingstone, Sask. – Uranium
* past producing mine
ON BEHALF OF THE BOARD OF DIRECTORS
Contact: George Sookochoff, President & CEO
Email: [email protected]
Suite 615- 800 W. Pender Street,
Vancouver, B.C. V6C 2T6
Ph: 604-505-4061
BEA TSX.V
“George Sookochoff”
George Sookochoff, CEO/President
Ph: 604-505-4061
Email: [email protected]
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.