Belmont Responds to Lawsuit

2023-04-06 / @thenewswire

(TheNewswire)

Vancouver, BC - TheNewswire - April 6, 2023 - Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V:BEA) (FSE:L3L2) was notified, last Monday April 3, of a lawsuit filed in the Supreme Court of British Columbia by Marquee Resources. The lawsuit relates mainly to Marquee’s claim that Belmont has failed and refused to transfer an 80% interest in the Kibby Center lithium property in Nevada, USA to Marquee pursuant to an option agreement dated November 1, 2021.

The Company believes that the complaint against it is unfounded and without merit. Belmont is not commenting further at this time as these matters are before the courts.

About Belmont Resources

Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:

Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry
2022 drilling suggest interception of peripheral of porphyry; planned 2023 drilling to target porphyry core.
Athelstan-Jackpot (AJ): 2 former gold mines with extensive mine dump material grading up to 1oz/t gold; 2023 plan to test gold extraction from mine dumps using “environmentally friendly” gold recovery system
CrackingstoneUranium/Rare Earths: Review of exploration 2008 drill data shows Pegmatite was intercepted for over 1.3 kilometers. Excellent potential for “Rare Earth Elements – REEs“. 2023 plans to re-assay 2008 drill core for Rare Earth Metals which was previously only assayed for uranium
Pathfinder, B.C. – Historic Bertha Pathfinder Gold–Silver mines. Optioned. Optioned 75% of the project to Highrock Resources. Highrock completed a financing of $350,000 and will commence an exploration program on the Pathfinder in Q2 2023
Lone StarCopper-Gold: optioned to Australian Marquee Resources ASX:MQR; MQR spending $2.5M in drilling and must produce PEA to earn 80% interest; MQR completed new resource in Dec. 2022 now working on PEA.
Kibby Basin Lithium project located 60 kilometers north of Clayton Valley Basin, Nevada.: Optioned Kibby Center claim blocks to Australian Marquee Resources MQR; MQR spending $2.5M in drilling for potential deep seated lithium brines, to earn 80%.

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ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061

Email: george@belmontresources.com

Website: www.BelmontResources.com

We seek safe harbor. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.