Belmont Resources Inc.
TSX VENTURE : BEA
FRANKFURT : L3L

Belmont Resources Inc.

July 12, 2007 13:55 ET

Belmont Resources Inc.: Uranium Projects Exploration Updates

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2007) - Belmont Resources Inc. (TSX VENTURE:BEA)(FRANKFURT:L3L) is pleased to provide an update on activities for its portfolio of uranium projects located in prolific uranium districts in Canada. The Company currently has four uranium projects at various stages of exploration, and continues to make progress through joint venture and independant work activity. It is expected that the Company will commence drill programs in 2007 and will continue to identify quality uranium projects for potential acquisition.

Stormy Lake (26.5 sq.km), and Partridge River (5.75 sq.km) Uranium Projects, Central Mineral Belt, Labrador

These projects are currently part of a joint venture agreement with Crosshair Exploration (TSX VENTURE:CXX) whereby Crosshair has the option to earn up to a 75% interest in both projects by spending $800,000 over a period of 3 years. Crosshair has assembled a geological team and will be performing preliminary exploration work shortly with the intention of sending off samples for analysis prior to August 30, 2007.

Crackingstone Uranium Project (750 ha), Uranium City, Athabasca Basin, Saskatchewan

Belmont and partner International Montoro (TSX VENTURE:IMT) will be mobilizing a crew to begin surface exploration, trenching, further sampling of high grade areas and cutting of drill pads in anticipation of drill program to commence in third quarter 2007.

Orbit Lake Uranium Project (11,109 ha), Uranium City, Athabasca Basin, Saskatchewan

This project is currently part of a joint venture agreement with Ultra Uranium (TSX VENTURE:ULU) whereby Ultra has the option to earn up to a 65% interest in this project by spending $2,000,000 over a period of three years. Ultra and the joint venture partners intend to commence a 1250 km airborne magnetic and VTEM survey over the property in 2007.

Wollaston/Reindeer Lake (51,395 ha), south east of Athabasca Basin, Saskatchewan

This project is currently part of a joint venture agreement with McCallan Oil and Gas U.K. whereby McCallan has the option to earn up to a 60% interest in this project by spending $2,000,000 over a period of three years. The company and McCallan expect to launch its summer exploration program as soon as the technical report is completed and the recommendations are reviewed. The Company's consulting geologist Ray Bernatchez has gone to the Wollaston/Reindeer Lake to take samples of outcrops in preparing for the 43-101 technical report.

About Belmont Resources Inc.

Belmont Resources Inc. is an emerging mining company with uranium projects located in the Central Mineral Belt Uranium District in Labrador and in the Athabasca Basin, Northern Saskatchewan.

ON BEHALF OF THE BOARD,

Gary Musil, CFO/Director

For further information visit the Company website at www.belmontresources.com. The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Actual events or results could differ materially from the Companies 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.
    Dean Stuart
    (403) 517-2270 or (604) 683-6648
    (604) 683-1350 (FAX)
    Website: www.belmontresources.com