Belmore Resources (Holdings) plc
LSE : BEL

November 17, 2010 02:00 ET

Significant drilling results at Kilbricken

                                           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 in Co. Clare, Ireland. 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.

Highlights -

    *       Six drill holes have returned thick, high grade zinc-lead-silver sulphide mineralisation;

    *       The highly prospective nature of this area continues to be reinforced by these recent drill hole results;
        
    *       Continuing intersection of massive sulphide at the base of the Waulsortian Reef;
        
    *       Drill hole 50 returned 11.8m at 15.57% combined lead/zinc and 178.23 g/t silver;

    *       Drill hole 44 returned 17.5m at 7.26% combined lead/zinc and 83.48 g/t silver;

    *       Drill  hole 52 returned 19.3m at 8.37% combined lead/zinc and 64.64 g/t silver - including 7.2m at 19.06%
            combined lead/zinc and 122.4 g/t silver; and
        
    *       Continued optimism that the project will define an economic silver-lead-zinc deposit in Co. Clare.

A  significant drilling programme continues on the Belmore/Lundin Joint Venture licences in County Clare.  Five  drill
rigs are active at the main Kilbricken Prospect (Prospecting Licence 3679) and a sixth drill rig is currently drilling
a new prospective area within the licence block.

Completed  drill  holes up to and including drill hole 10-3679-38 and also drill holes 10-3679-43 and 10-3679-46  have
previously been announced by the Company. This release covers drill hole 10-3679-44 and drill holes subsequent to  10-
3679-46 with the most recent hole for which results are available being 10-3679-68.

The  drilling has continued to intersect thick, high-grade zinc-lead-silver sulphide mineralisation in the  Kilbricken
area. Drillholes assayed since the last update include the following:

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-44    447.9      465.05     17.15         17.15               2.85     4.40      83.48    7.26
                                                                                                  

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-50    484.6      496.4      11.8          11.79               9.84     5.73      178.23   15.57
                                                                                                  

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-52    425.7      445        19.3          19.19               7.15     1.22      64.64    8.37
incl          437.8      445        7.2           7.2                 17.06    2.00      122.4    19.06
                                                                                                  
Note: Some of the lead values in this hole were above the maximum detection limit for the method used (ICP
Ultra-trace) so further assays by atomic absorption have been requested.  It is likely that the overall
figures for lead will increase when these values have been returned.

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-55    404.6      406.4      1.8           1.78                8.12     2.09      34.88    10.21
                                                                                                  

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-65    438.8      448.1      9.30          9.3                 3.57     1.61      23.26    5.18
                                                                                                  

Drill hole    From (m)   To (m)     Interval      True Thickness      Zn %     Pb %      Ag g/t   Zn+Pb %
no                                  (m)           (m)
10-3679-68    504.7      512.5      7.8           7.8                 7.66     1.76      68.33    9.42
                                                                                                  
Note: This 7.8m interval includes approximately 2 metres of cavities or no core recovery

Four  other drillholes, 10-3679-48, 49, 58 and 63 also contain significant amounts of mineralisation but assay results
are  not yet available. The Company will announce the results of those assay tests as soon as they are available  over
the coming weeks.

The  highly  prospective nature of this area continues to be reinforced by these recent drill hole results  and  gives
further  grounds  for optimism that the project will define an economic silver-lead-zinc deposit in  Co.  Clare.   The
drilling  continues  to assist the Company and Lundin to better understand the nature of the mineralisation  and  thus
further improve the effectiveness of the ongoing drilling programme.

The  recent  drilling  further  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  drill
programme  has  confirmed that the structural setting (stepped en-echelon normal faults) is similar  to  that  in  the
Lisheen-Galmoy area.

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  the
lead mineralisation and that silver will be an important component of the resource. Further drilling and mineralogical
studies are required to conclusively establish its full distribution and residence.

Four of the drillholes in the sequence between 10-3679-47 and 10-3679-68 are exploratory drill holes drilled elsewhere
on  the  Clare licences. These drillholes enhanced the understanding of the geology of the areas drilled but  did  not
intersect  significant  mineralisation. Two drillholes, 01-3679-45 and 3679-62, were  abandoned  without  testing  the
target due to drilling problems.

Company  Chairman, Mr. Ian Forrest, commented: "Belmore and Lundin are commited to advancing the Clare  discovery  and
continue  to  be  encouraged with the highly prospective zinc-lead-silver grades being intersected  over  considerable
width.

"The  Company continues to actively drill the Kilbricken target and expects a strong flow of results over  the  coming
months."

Belmore  Resources will be presenting to investors at a free seminar in Central London at 18.00 on the 17th  November.
For further details please contact Belmore@bishopsgatecommunications.com

                                                           
                                                       --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 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 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

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