Belmont Resources Completes 100% Acquisition Of Lumby/Bufo Property - Atikokan, Ontario
22.04.2013 | Marketwire
Vancouver, B.C. Canada, April 22, 2013 – Belmont Resources Inc. (“Belmont”, the “Company” or “TSX.V: BEA”). The Company has made its final $50,000 cash payment and issued 25,000 common shares to the vendor for the Lumby/Bufo property. The Company also paid a finder’s fee of $4,048 and 2,037 common shares. The shares are subject to a trading hold period until June 23, 2013. The property totals 23 contiguous mineral claims comprising 3,040 hectares, and adjoins along strike to the north-northeast of the “Hammond Reef” gold deposit, being developed by Osisko Mining Corp. Title transfer will take place in the next few weeks. The vendor retains a 3% NSR, with the Company having the right to acquire 1% for $1 million.Other
The Company has granted 200,000 incentive stock options to a consultant at a price of $0.12 for a period of three years. All securities are subject to regulatory approvals and the Company’s Stock Option Plan.
About Belmont Resources Inc.
In June 2012, the Company entered into a property option agreement to acquire four groups of mineral (51) claims, representing 2,254.27 hectares in the Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone of Northwestern, Quebec. This belt hosts several world- class deposits that have produced both gold and base metals.
The Company completed and fulfilled the final terms of the February 2010 option agreement and have now acquired a 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan. The property adjoins the “Hammond Reef” gold deposit, belonging to Osisko Mining Corp. (former Brett Resources Inc.), along strike to the north-northeast.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in the Uranium City District in Northern Saskatchewan.
Further information can be found on the Company’s website at www.BelmontResources.com and on www.Sedar.com, or by phoning 604-683-6648.
ON BEHALF OF THE BOARD OF DIRECTORS
“Vojtech Agyagos”
Vojtech Agyagos, CEO/President
This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. 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.