Belmore Resources (Holdings) plc
LSE : BEL

May 21, 2010 02:00 ET

Significant drilling results at Kilbricken

                                                                                                           21 May 2010
                                                                                                                      
                                           Belmore Resources (Holdings) Plc

                                             ("Belmore" or "the Company")
                                                           
                                      Significant drilling results at Kilbricken


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

An  active drilling programme is continuing on the Belmore/Lundin Joint Venture licences in County Clare. Three  drill
rigs  are  active  at  the  main Kilbricken Prospect (Prospecting Licence 3679) and a fourth drill  rig  is  currently
drilling other targets within the licence block.

Completed  drill  holes up to and including drill hole 3679-38 have been previously announced  by  the  Company.  This
release covers drill holes 3679-43 and 3679-46.

The  drilling has continued to intersect thick, high-grade zinc-lead-silver sulphide mineralisation in the  Kilbricken
area.   Excellent results were obtained in drill holes 3679-43 and 3679-46.  Drill hole 3679-43 is located 100  metres
east  of the mineralised drill hole 3679-38 (upper 2.85 metre interval grading 18.32% zinc plus lead, 85.38 g/t silver
and  lower  5.80 metre interval grading 10.98% zinc plus lead, 53.75 g/t silver) and drill hole 3679-46 is located  90
metres north of drill hole 3679-38, giving three contiguous, high-grade drill intercepts in this area.

Drill hole no   From (m)     To (m)   Interval (m)  True Thickness (m)     Zn %     Pb %     Ag g/t   Zn+Pb %
10-3679-46       415.25     435.75          20.50                20.5      7.21     9.52      74.50     16.73
incl.                                                                                            
10-3679-46       423.15     435.75          12.60                12.6      8.39    11.25      98.30     19.64


Drill hole No   From (m)     To (m)  Interval (m)   True Thickness (m)     Zn %     Pb %     Ag g/t   Zn+Pb %
10-3679-43       430.30     431.75        1.45                    1.5     12.73    27.22     123.60     39.95
And                                                                                            
10-3679-43       442.10     451.45        9.35                    9.4      4.11    12.04     242.75     16.15
incl.            442.10     443.30        1.20                    1.2      3.93    46.50     927.90     50.43


The  recent drilling confirms the presence of an important normal fault striking west-northwest to east-southeast  and
offsetting  the stratigraphic rock package approximately 180 metres down-dip to the south. The hanging  wall  area  of
this  fault  is a major target for concentrations of silver-lead-zinc mineralization as evidenced by the thick,  high-
grade  sulphide  intercepts in drill holes 3679-32, -46 and -43, all of which are positioned in the immediate  hanging
wall of this fault.

The  next phase of drilling will continue to test along the extent of this favourable hanging wall zone, including the
current  330  metre  gap between holes 3679-32 and 3679-46 in addition to step-out holes which will  test  for  strike
extensions to the west-northwest and east-southeast of these holes respectively.

The extremely high silver and lead values in holes 3679-43 and 3679-46 (including a 1.2 metre intersection of over 900
g/t  silver in drill hole 3679-43) provide strong evidence that drilling is now testing an area that was once a  major
conduit of silver-lead-zinc mineralising fluids, important for the development of an economic mineral deposit.

The  silver-rich  nature of the Kilbricken mineralisation differs from almost all other Irish lead-zinc  deposits  and
will  have a favourable impact on any future mine economics.  Results to date indicate silver is associated with  lead
and that silver will be an important component of the resource although further drilling and mineralogical studies are
required to conclusively establish its full distribution and residence.

In addition to zinc, lead and silver, the Kilbricken deposit also contains concentrations of other elements, including
iron  and arsenic, which requires further investigation.  Much of the iron is present as pyrite.  Preliminary  studies
indicate  that  the arsenic, along with additional iron, resides in the sulphide mineral arsenopyrite which  does  not
contain  the silver, lead or zinc and is present as a late phase of coarsely crystalline mineralisation of  restricted
extent,  most  occurring  separately from the silver-lead-zinc mineralisation. A programme of  detailed  petrographic,
mineralogical  and  geometallurgical  studies  has  been initiated  to  better  understand  the  implications  of  the
arsenopyrite in addition to the high silver concentrations.

The  detailed assay results for silver, zinc, lead, copper, arsenic and iron from the better mineralised  drill  holes
are presented in the table which accompanies this release.

The  highly prospective nature of this area has been reinforced by these recent drill holes and gives further  grounds
for  optimism that the project will define an economic silver-lead-zinc deposit in Co. Clare.  Lundin has proposed  to
further accelerate the exploration programme by adding two more drill rigs.

Company Chairman, Mr. Ian Forrest, commented: "Belmore and its partner Lundin are both enthused by these very positive
results which are beginning to delineate a highly prospective zinc-lead-silver target, comparable to any other in  the
Irish orefield."

"Lundin  and Belmore are committed to advancing the current drilling programme and will continue to drill aggressively
allowing us to better understand the potential of the silver-lead-zinc target."

                                                       --ENDS--


                        The directors of the issuer accept responsibility for this announcement



ENQUIRIES:

Belmore Resources (Holdings) Plc                                    Tel: 00353 876812883
Patrick Mahony

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

Rivington Street Corporate Finance                                  Tel: 020 80990571
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 silver-lead-zinc exploration  properties  in
County Clare.

Clare  Blocks  (Republic  of  Ireland): Belmore now has a 100% interest in 10 prospecting  licences  covering  360  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  drill  hole
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




Drillhole assays announced to date -


------------------------------------------------------------------------------------------------------------------
Drillhole         From       To  Interval    Zn %     Pb %    Ag ppm      Cu %       As %        Fe %   Zn + Pb %
------------------------------------------------------------------------------------------------------------------
08-3679-        448.10   458.10     10.00   13.84     5.52     62.84       0.08       6.42      24.06       19.36
04
------------------------------------------------------------------------------------------------------------------
09-3679-        473.00   476.50     3.50     1.64     3.82     58.68       0.01       1.08      1.75        5.46
05
------------------------------------------------------------------------------------------------------------------
09-3679-        441.90   463.15     21.25   11.00     4.82     94.41       0.06       1.28      15.95       15.82
06
                incl                                                                                                
                441.90   451.45     9.55    17.96     7.22     143.83      0.08       1.26      27.28       25.17
                and                                                                                                 
                459.20   463.15     3.95    12.39     6.23     116.71      0.11       3.25      13.35       18.62
------------------------------------------------------------------------------------------------------------------
09-3679-        442.75   447.70     4.95     4.94     1.31      59.26      0.01       0.69      18.19        6.25
07
                and                                                                                                    
                459.05   463.95     4.90     3.13     6.65     65.19       0.03       2.39       6.39        9.78
------------------------------------------------------------------------------------------------------------------
09-3679-        445.60   451.10     5.50     6.18     2.67     57.96       0.06       0.50      16.65        8.86
08
------------------------------------------------------------------------------------------------------------------
09-3679-        403.00   406.00     3.00     3.30     1.09     33.21       0.01       2.02       3.01        4.39
14
                and                                                                                                    
09-3679-        423.55   427.00     3.45     3.07     1.48     21.20       0.01       0.22       8.09        4.55
14
------------------------------------------------------------------------------------------------------------------
09-3679-        462.15   470.70     8.55     1.67     0.89     18.58       0.00       0.32       5.57        2.56
18
------------------------------------------------------------------------------------------------------------------
09-3679-        431.00   434.85     3.85    10.23     5.99     76.22       0.10       1.63      19.66       16.22
19
------------------------------------------------------------------------------------------------------------------
09-3679-        445.05   447.90     2.85     0.40     2.08     21.93       0.01       0.43      21.93       2.48
21
------------------------------------------------------------------------------------------------------------------
09-3679-        355.80   360.50     4.70     8.48     1.93     18.18       0.02       0.09      18.18       10.40
32
------------------------------------------------------------------------------------------------------------------
09-3679-        425.80   430.00     4.20     3.54     2.36     28.52       0.03       0.29       3.15        5.91
34
                and                                                                                                    
09-3679-        439.50   442.00     2.50     0.50     0.57     58.26       0.47       2.83       3.55        1.07
34
------------------------------------------------------------------------------------------------------------------
09-3679-        397.10   399.95     2.85     9.36     8.96     85.38       0.14       8.03      10.73       18.32
38
                and                                                                                                    
09-3679-        418.50   424.30     5.80     6.98     4.00     53.75       0.03       4.68      14.45       10.98
38
------------------------------------------------------------------------------------------------------------------
10-3679-        430.30   431.75     1.45    12.73    27.22    123.60       0.28       0.40       7.43       39.95
43
                and                                                                                                    
10-3679-        442.10   451.45     9.35     4.11    12.04    242.75      0.52        1.14       7.31       16.15
43
------------------------------------------------------------------------------------------------------------------
10-3679-        415.25   435.75     20.50    7.21     9.52     74.50      0.07        8.65      23.45       16.73
46
                incl                                                                                                   
10-3679-        423.15   435.75     12.60    8.39    11.25     98.30      0.09        10.24     24.52       19.63
46
------------------------------------------------------------------------------------------------------------------
                                                                                                                  






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