Belmont Resources Inc.
TSX VENTURE : BEA
FRANKFURT : L3L
PINK SHEETS : BEAAF

Belmont Resources Inc.

February 20, 2009 09:30 ET

Belmont Resources Inc.: $160,000 Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 20, 2009) - Belmont Resources Inc. (TSX VENTURE:BEA)(PINK SHEETS:BEAAF)(FRANKFURT:L3L) ("Belmont" or the "Company") is arranging a non-brokered private placement financing to raise up to $160,000. The units being sold are as follows:

1) The sale of 8,000,000 units at $0.02 per unit. Each unit will consist of one common share and one non-transferable common share purchase warrant. One warrant will entitle the holder thereof to purchase one additional common share of the Company for a period of two years at a price of $0.05 per share in the first year and $0.10 per share in the second year from issuance.

The Company intends to utilize the proceeds of the private placement for maintenance of its Uranium City area -Saskatchewan properties, and general working capital.

The Company will pay a finder's fee or commission in accordance with the policies of the TSX Venture Exchange. The private placement is subject to the approval of the TSX Venture Exchange.

About Belmont Resources Inc.

Belmont Resources Inc. is focused on acquiring and developing uranium properties in developed and emerging uranium districts. Belmont (50/50) with International Montoro Resources Inc. has acquired two significant uranium properties (Crackingstone - 982 ha & Orbit Lake - 11,109 ha) in the Uranium City District in Northern Saskatchewan. Belmont & Montoro recently optioned 50% interest in the Crackingstone property to Merrex Gold Inc. (TSX VENTURE:MXI). Belmont has also staked (100% owned) 63,184 ha in the Wollaston/Reindeer Lake-Compulsion Bay area, southeast Athabasca Basin, Saskatchewan. The Company also holds interests (50/50 with Int. Montoro) in two claim blocks in the Central Mineral Belt in Labrador.

Further information can be obtained from the Company website at www.BelmontResources.com and www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Musil, CFO/Director

The statements used in 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 Company's forward-looking statements and expectations.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Belmont Resources Inc.
    Gary Musil
    CFO/Director
    (604) 683-6648
    (604) 683-1350 (FAX)
    or
    Belmont Resources Inc.
    Dean Stuart
    (403) 517-2270
    Website: www.BelmontResources.com