GOLDBELT RESOURCES LTD.
TSX : GLD

GOLDBELT RESOURCES LTD.

January 29, 2008 15:07 ET

Goldbelt Resources Announces Further Postponement of Annual General Meeting Date

TORONTO, ONTARIO--(Marketwire - Jan. 29, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goldbelt Resources Ltd. (TSX:GLD) ("Goldbelt") announced today that its board of directors has decided to postpone the Goldbelt Annual General Meeting, currently scheduled to occur on January 31, 2008, until April 30, 2008. Goldbelt has received confirmation from the Toronto Stock Exchange that it does not object to the holding of the annual meeting on or before April 30, 2008.

About Goldbelt Resources Ltd.

Goldbelt Resources is a Canadian junior mining company focused on exploring and developing known gold prospects in Burkina Faso. The common shares of Goldbelt are traded on the TSX under the symbol GLD.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as such term is defined by regulations under the United States Securities Act of 1933, as amended. Certain statements contained in this press release constitute forward-looking statements which are not historical facts. When used in this release, words like "anticipate", "believe", "estimate", "expect", "will", "intend" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are inherently subject to significant business, economic, political and competitive uncertainties and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance, achievements or position of the parties to be materially different from the estimated or anticipated future results, performance, achievements or position expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future results, performance, position or achievements.

The risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price and/or demand for gold and certain other commodities (such as zinc, copper, silver, fuel and electricity) and fluctuations in currency rates; material adverse changes in economic conditions generally or in relevant markets or industries in particular; future regulatory and legislative actions and conditions or political or economic developments affecting the companies operating areas; obtaining and retaining skilled workers and key executives; the occurrence of natural disasters, hostilities, acts of war or terrorism; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the companies' projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. These risks and factors are discussed in greater detail in Goldbelt's most recent annual information form available on SEDAR at www.sedar.com.


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