Belmont Completes LIDAR Survey on AJ Gold Project Greenwood Mining District, B.C

VANCOUVER, BC / ACCESSWIRE / September 22, 2020 / Belmont Resources Ltd. (TSXV:BEA)(FRA:L3L2) is pleased to report that the helicopter-borne Lidar survey on the company's A-J property in the historic Greenwood Mining Camp has been completed. The 5.3 square km survey was flown by Pioneer Exploration Consultants Ltd., with point cloud data acquired at a density of 20 points per square metre.

The AJ property contains two past producing gold mines Athelstan & Jackpot which produced 7,600 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The two mines and at least 9 known gold mineralized zones extending over an approximate area of 240 by 1,000 metres are associated with listwanite rock.

A-J Property LIDAR Survey

Lidar is an effective, low cost method of accurately mapping the bare-earth surface (i.e. the ground surface as it would appear stripped free of vegetation) and showing centimetre-scale variations in surface elevation. It has many uses in geological exploration, including identifying the location and distribution of historic pits and other areas of disturbance which can then be ground-truthed. Lidar bare-earth data can also reveal linear topographic low features. These may coincide with the surface trace of fault zones that are important controls to mineralization.

LIDAR Survey Highlighting Jackpot Fault

The recently completed A-J Lidar survey identified over 100 historic exploration pits, trenches and other workings on the property, many of which were unknown from more recent work on the property. Known mineralization on the property is primarily hosted within listwanite which has been emplaced along deep-seated low-angle north-dipping faults. These deep faults, along with later, steep fault zones, provide pathways for later intrusive emplacement and for mineralizing fluids. The distribution of the historic exploration pits indicates separate trends of mineralization, intersecting near the J-34 zone and near the easternmost surface expression of a granodiorite intrusive.

J34 Zone Geology

Listwanite-hosted gold-bearing massive sulfide mineralization occurs at the J-34 zone, 50 m east of the intrusive contact. In 2003, trenching was completed at the J-34 zone by a previous operator, with historic chip samples returning grades of 6.6 g/t Au over a 3.7 m true thickness in one area, and 1.9 g/t Au over 6.8 m true thickness in a second area.¹ The J-34 zone is a gently north dipping zone and is interpreted to be underlain by the intrusive that is exposed a short distance west. It is untested at depth by any drilling.

Belmont expects to receive the results of the drone-based magnetic survey which has been completed over the property shortly, and anticipates that the Lidar and magnetic data, combined with historic exploration data, will define targets for follow-up work, including drilling.

A multi-year area-based exploration permit application has been submitted to the Ministry of Energy and Mines to cover this next phase of work on the property.

Belmont President & CEO George Sookochoff commented, "Where fault zones are proven to be important controls of gold mineralization on the A-J property, the LIDAR survey has already provided invaluable "bare earth" data revealing the surface trace of several major faults on the property with centimeters accuracy, which were previously hidden by thick surface vegetation. I look forward to receiving the high resolution, low flight level, drone magnetic survey data which combined with the LIDAR, geological, rock & soil and trenching data will provide high quality drill targets for our upcoming drill program."

About Belmont Resources Inc.

Belmont Property Map

Belmont Resources is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Greenwood-Republic mining camps. The Company has over a short period of time systematically acquired six past producing gold-silver and copper-gold mines.

- Athelstan & Jackpot Gold mines (Athelstan-Jackpot property - 100%)
- Bertha & Pathfinder Gold-Silver mines (Pathfinder property - 100%).
- Betts Copper-Gold mine (Come By Chance property - 100%)
- Lone Star Copper-Gold mine (Lone Star Property - LOI)

Qualified Person

Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who as reviewed and approved the technical content of this news release.

ON BEHALF OF THE BOARD OF DIRECTORS

"George Sookochoff"

George Sookochoff, CEO/President
Ph: 604-683-6648
Email: george@belmontresources.com
Website: www.BelmontResources.com

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. 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 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 2020, 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.

¹ Caron, L., 2003. Assessment Report on the Athelstan-Jackpot Property, Trenching and Rock Sampling, for M. Hallauer and T. Hallauer. BC MEMPR Assessment Report 27302.

SOURCE: Belmont Resources Inc.