Belmont Updates Finder's Fee on Lone Star & Kibby Properties

2022-01-04 / @thenewswire

(TheNewswire)

Vancouver, B.C. Canada - TheNewswire - January 4, 2022 - Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSXV:BEA) (FSE:L3L2) . Further to our news release of November 4th regarding the Option Agreements on the Lone Star- Washington and Kibby Basin-Nevada properties with Marquee Resources Ltd. (ASX: MQR), and November 26th, 2021; the Company wishes to clarify the Finder’s Fee agreement with an unrelated arm’s length 3rd party.

The Company has agreed, subject to regulatory approval to issue a total of 2 x 250,000 common shares at a deemed price of $0.06 per share. The finder’s fee is related to the introduction of both the Lone Star project and the Kibby Basin projects to Marquee Resources Ltd., by the same unrelated arm’s length 3rd party.

Upon TSX Venture Exchange approval and issuance of the finder’s fees, the common shares issued will be subject to a regulatory hold period of four months +one day from issuance.

Check out our updated website at www.BelmontResources.com and watch for upcoming news, as both projects will be proceeding rapidly forward in 2022.

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. – * Gold-Silver mines
Come By Chance, B.C. – * Copper-Gold mine
Lone Star, Washington – * Copper-Gold mine
Pathfinder, B.C. – * 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

“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 2021, 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.