Belmore Resources (Holdings) plc

October 27, 2009 07:28 ET

Share Placement

                                                                                            27 October 2009
                                     Belmore Resources (Holdings) Plc
                                       ("Belmore" or "the Company")
                                              Share Placement

The  Board  of Belmore, a minerals exploration company, is pleased to announce that the Company has  placed
4,720,001  new  Ordinary  Shares of Euro0.01 each at a price of Euro0.07 (£0.063) per  share  with  various
investors for net proceeds of Euro330,400 (£300,003).

The proceeds of the placement will be used for strategic investment purposes and as working capital for the

Following the placement, the Company has 38,110,201 Ordinary Shares in issue.

The  Directors shareholdings following the issue of shares is 9,781,486 Ordinary Shares representing 25.67%
of the issued share capital of the Company.

Starvest  Plc  holds  5,885,164 Ordinary Shares representing 15.44% of the  issued  share  capital  of  the
Company.  Global Finance and Petroleum Products Inc holds 1,735,183 representing 4.55% of the issued  share
capital.  Panares Resources Inc of which W. I. L. Forrest is a Director holds 1,428,572 representing  3.75%
of the issued share capital.

Company  Chairman, Mr. Ian Forrest commented:  "The Board is extremely pleased to have raised this funding.
It is intended that the investment will be applied to further shareholder value in Belmore.

"Progress  at our Clare JV prospect is advancing well and Lundin Mining exploration continues to  drill  at
pace.  The Company will provide a drilling update in due course. The Company also continues to evaluate new
investment opportunities."

The  above  figure may be used by shareholders as the denominator for the calculations by which  they  will
determine  if they are required to notify their interest in, or change to their interest in, Belmore  under
the FSA's Disclosure and Transparency Rules.


The directors of the issuer accept responsibility for this announcement


Belmore Resources (Holdings) Plc                  Tel: 0035 387 681 2883
Patrick Mahony

Bishopsgate Communications Ltd                    Tel: 020 7562 3350
Nick Rome/Michael Kinirons

Rivington Street Corporate Finance                Tel: 020 7562 3389
Monisha Varadan/Eran Zucker

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