Belmore Resources (Holdings) plc
LSE : BEL

January 25, 2010 02:00 ET

Kilbricken Drilling Results

                                                                                       25 January 2010
                                                   
                                                   
                                                   
                                   Belmore Resources (Holdings) Plc
                                                   
                                            ("the Company")
                                                   
                                      Kilbricken Drilling Results



Belmore  Resources, a minerals exploration company, is pleased to announce further  results  from  the
continuing appraisal drilling of its Kilbricken Zinc- Lead- Silver discovery. The project is  a  joint
venture  with  Lundin  Mining Exploration Ltd., a wholly owned subsidiary  company  of  Lundin  Mining
Corporation (TSX:LUN, OMX:LUMI), which is currently the operator of the drilling programme.

The  drilling  has  continued to locate mineralisation in the Kilbricken area.  Drillhole  09-3679-19,
which  intersected  3.85m  at  10.23% Zn (Zinc), 5.99% Pb (Lead)  and  76.2g/tonne  Ag  (Silver),  was
particularly encouraging. Mineralisation in drillholes 09-3679-14 and 18 indicates an extension of the
mineralising  system  to  the  west-northwest and the massive  pyrite  in  09-3679-20  also  indicates
potential targets to the east and southeast.

Diamond  drilling  is continuing along a prospective zone running through licence  3679  and  probably
extending eastwards into licence 3643 and westwards into licence 3787.

Geophysical surveying methods, in particular gravity, as well as geochemistry, will be used to develop
additional targets within the prospective Waulsortian Reef horizon.

Following  a  recent review of the Clare results Lundin remains committed to and optimistic  regarding
the East Clare exploration programme.

Company  Chairman, Mr. Ian Forrest, commented:  "I am encouraged by the results of drilling  in  2009,
and appreciate the professionalism of Lundin Mining in their pursuit of this exploration programme. We
look  forward  both to progressing these targets with Lundin Mining and to a continued high  level  of
activity in 2010."


DETAILED RESULTS

DRILLHOLE 09-3679-14

This  drillhole constituted a major step out to the northwest and tested the target horizon 275 metres
from high grade drillhole 09-3679-06.

Two mineralized intervals were encountered:
        403 - 406m               3m at 3.3% Zn, 1.085% Pb and 33g/tonne Ag
and     423.5 - 424.8m           1.3m at 6.83% Zn, 3.87% Pb and 48g/tonne Ag

The  presence of resource grade mineralisation in such a large step out is very encouraging. A  second
drillhole (09-3679-18) was collared to test the target horizon 110m west of drillhole 09-3679-14.


DRILLHOLE 09-3679-18

This  drillhole  also  encountered a thick zone of mineralisation, again  with  two  main  mineralised
horizons:
        437.2 - 449.2m           12m at 0.43% Zn and 0.10% Pb
and     462.15 - 470.7m          8.55m at 1.675% Zn and 0.885% Pb

There  is high likelihood that these two holes are peripheral to high grade mineralisation and further
drilling is in progress in the area.


DRILLHOLE 09-3679-15

This  drillhole  was  collared 70m south of drillhole 09-3679-6 and intersected  trace  mineralisation
only.


DRILLHOLE 09-3679-16

This  drillhole  was  collared  west of barren drillholes 3679-10 and 12.  It  intersected  15.55m  of
mineralized (0.6% combined Zn/Pb) strata. The presence of such a thick mineralised zone gives  grounds
for optimism in this area.


DRILLHOLE 09-3679-17

This  hole intersected the target horizon about 110m north-northeast of drillhole 09-3679-6.  A  1.25m
interval from 446.25 - 447.5m assayed 1.26% Zn, 5.4% Pb and 14.2g/tonne Ag.


DRILLHOLE 09-3679-19

This  hole intersected the target horizon 70 metres north of drillhole 09-3679-06. The hole  was  well
mineralised with the following result:

        431 - 434.85m            3.85m at 10.23% Zn, 5.99% Pb and 76.2g/tonne Ag

This  drillhole provides further evidence that the Kilbricken discovery is not an isolated pod but  is
part of a larger mineralising system.


DRILLHOLE 09-3679-20

This  hole  is  located 220m east-southeast of drillhole 09-3679-06. It intersected 4.95m  of  massive
pyrite  (Iron Sulphide). The pyrite contained minor lead and trace zinc but experience from Irish  ore
bodies  indicates  that  massive  pyrite  often  passes  laterally  into  high  grade  zinc  and  lead
mineralisation.


DRILLHOLE 09-3679-21

This  drillhole is 60m north of drillhole 09-3679-17. It intersected 2.8m at 2.08% Zn and 0.4% Pb  but
more  significantly  it  also  intersected a major Fault Zone which cuts  out  approximately  150m  of
stratigraphy. The fault is thought to trend in an east - west direction but more drilling is needed to
better  define  it. Faults of this type are believed to have an important role in the  emplacement  of
Irish ore bodies.

                                               --ENDS--


                The directors of the issuer accept responsibility for this announcement



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

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

Rivington Street Corporate Finance                                     Tel: 020 7562 3389
Eran Zucker



Notes to Editors

About Belmore

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
mineralisation.   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.


As  announced  on  the 26th February 2009, Belmore has entered into an agreement  with  Lundin  Mining
Exploration  Ltd, in respect of Prospecting Licences that the Company currently holds  in  Co.  Clare.
Lundin  has  a  right to earn up to a 70% interest in the Prospecting Licences that Belmore  currently
holds  in  Co.  Clare  by spending up to €14.7 million over a number of years.  In  June  2009  Lundin
exceeded  the agreed initial expenditure of €700,000 and has since that time accelerated  its  earn-in
spending.


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.


For further information please visit www.belmoreresources.com


About Lundin

Lundin  Mining  Corporation is a diversified base metals mining company with operations  in  Portugal,
Spain  and  Sweden,  producing  copper, nickel, lead and zinc. In  addition,  Lundin  Mining  holds  a
development project pipeline which includes the world class Tenke Fungurume copper/cobalt  project  in
the  Democratic  Republic  of  Congo and holds an extensive exploration  portfolio  and  interests  in
international mining and exploration ventures. Lundin Mining keeps corporate offices in Canada and the
United Kingdom.

Contact Information

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