Belmore Resources (Holdings) plc

February 26, 2009 02:15 ET

Share Placement

                                                                                  26 February 2009

                                 Belmore Resources (Holdings) Plc
                                          ("the Company")
                                          Share Placement
The  Board of Belmore, a minerals exploration company with a focus on projects in the Republic  of
Ireland, is pleased to announce that the Company has placed 1,000,000 new Ordinary Shares of €0.01
each  at  a  price of €0.10 per share with Lundin Mining Exploration Ltd a wholly owned subsidiary
company  of  Lundin  Mining Corporation, a diversified base metals mining company  quoted  on  the
TSX:LUN.  Lundin will own 2.99% of the total shares in issue.  The proceeds of the placement  will
be used as working capital for the Company.

Following the placement, the Company has 33,390,200 ordinary shares in issue.

Starvest  Plc  holds 5,885,164 which now represents 17.62%. Global Finance and Petroleum  Products
Inc holds 1,735,183 which now represents 5.19%.

The  Directors  shareholdings  following  the issue of  shares  remain  at  14,897,239  which  now
represents 44.6% of the issued share capital of the Company.

              The directors of the issuer accept responsibility for this announcement


Belmore Resources (Holdings) Plc
Patrick Mahony

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

Rivington Street Corporate Finance                Tel: 020 7562 3389
Monisha Varadan

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  mineralization.  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.

The mineralisation is open in all directions and further diamond drilling is required to determine
the extent of the mineralisation.

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.

Donegal  Blocks  (Republic  of  Ireland): Belmore has 100% interest in  two  prospecting  licences
covering 80.76 sq kilometres.

For further information please visit

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

  • Belmore Resources (Holdings) plc