Belmore Resources (Holdings) plc

September 05, 2008 02:00 ET

Licence Interests Increased

                                                                                  5 September 2008
                                 BELMORE RESOURCES (HOLDINGS) PLC
                                   ("Belmore" or "the Company")

Belmore  Resources  (Holdings) Plc announces that its has reached agreement  with  Central  Mining
Finance  Limited ("CMF") whereby the Option Agreement between its wholly owned subsidiary, Belmore
Resources  Limited, and CMF over Prospecting Licences 3787, 3788, 3789, 3863,  3508  and  3643  be
terminated  and,  in consequence, the Joint Venture with CMF has been dissolved. In  consideration
thereof, Belmore has allotted 1,000,000 new ordinary shares of €0.01 each to CMF.

As  a  result  of  this agreement Belmore Resources Limited has increased its  interest  in  these
licences from circa 70% to 100%.

The issued share capital of Belmore after this transaction is 32,390,200 ordinary shares.

              The directors of the issuer accept responsibility for this announcement


Belmore Resources (Holdings) Plc                    Tel: 00 35387 681 2883
Patrick Mahony

Bishopsgate Communications Ltd                      Tel: 020 75623350
Nick Rome/Michael Kinirons

VSA Capital Limited                                 Tel: 020 7096 9580
Paul Renken

Notes to Editors

Belmore  is  a minerals exploration company with a focus on projects in the Republic  of  Ireland.
Whilst prospects for any mineral will be considered, priority will be given to the Company's  zinc
exploration properties in County Clare.

Clare  Blocks (Republic of Ireland): Belmore now has a 100% interest in 11  prospecting  licences
covering 392.75 sq kilometres.

As  announced by the Company in April 2008 diamond drilling on Prospecting Licence 3679, in  which
Belmore  holds a 100% interest, near Quin in County Clare, intersected newly discovered  zinc  and
lead  mineralization.  The drillhole intersected 18 metres of massive sulphide at the base of  the
Waulsortian Reef.  The top part of that massive sulphide consists of virtually barren  pyrite  but
the  bottom  part contains high-grade zinc and lead sulphides as well as pyrite and  arsenopyrite.
The  interval from 448.1 to 458.1 metres gave the following composite result:  10 metres at 13.84%
Zinc, 5.52% Lead and 62.84 gm/tonne Silver.

The mineralisation is open in all directions and further diamond drilling is required to determine
the extent of the mineralisation.

Previous  exploration  identified a high-grade resource of zinc and lead  rich  massive  sulphides
(approximately 400,000 tonnes @ 12% zinc plus lead and 75g/t silver) in the area of Milltown.

Donegal  Blocks (Republic  of  Ireland): Belmore has 100% interest in  two  prospecting  licences
covering 80.76 sq kilometres.

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