Belmore Resources (Holdings) plc

May 21, 2009 02:00 ET

Significant New Results from Clare Appraisal Drilling

                                                                                           21 May 2009
                                   Belmore Resources (Holdings) Plc
                                            ("the Company")
                         Significant New Results from Clare Appraisal Drilling
              Further exceptional Zinc-Lead-Silver mineralisation encountered by drilling

The  Board  of  Belmore  Resources, a minerals exploration company with a focus  on  projects  in  the
Republic  of  Ireland,  is  pleased to announce the following significant  results  from  the  initial
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.

Hole 09-3679-06

Intercepted  massive sulphide mineralisation approximately 50 metres west of similar massive  sulphide
mineralisation encountered in discovery hole 08-3679-04 (previously reported 3 April 2008 as 10 metres
grading  13.84% Zinc, 5.52% Lead and 62.84 gm/tonne Silver).  Hole 09-3679-06 returned  the  following

441.9 to 463.15 m depth:
21.25 m (21.2 m true thickness) grading 11.0% Zinc, 4.8% Lead, 94.4 gm/tonne Silver


441.9 to 451.45 m depth:
9.55 m (9.53 m true thickness) grading 18.0% Zinc, 7.2% Lead, 143.8 gm/tonne Silver


459.2 to 463.15 m depth:
3.95 m (3.94 m true thickness) grading 12.4% Zinc, 6.2% Lead, 116.7 gm/tonne Silver

Hole 09-3679-05

Intercepted  a  broad  zone  of  strong rock alteration hosting mostly minor  sulphide  mineralisation
approximately  50  metres  south  of  the  discovery hole (08-3679-04)  intercept,  including  a  more
mineralised zone returning the following results:

473.0 to 476.5 m depth:
3.5 m (true thickness) grading 1.6% Zinc, 3.8% Lead, 58.7 gm/tonne Silver

The  results  from  drillhole 09-3679-06 are better than the already excellent results  obtained  from
discovery  drillhole  08-3679-04 of last year. The pace of diamond drilling has  been  increased  with
three additional drillholes currently in progress, aiming to intercept the target horizon to the  east
and  north  of  the  two strongly mineralised drillholes using a 50 metre grid  pattern.   An  initial
downhole  induced  polarization  ("IP") geophysical survey has  been  completed  which  is  aiding  in
targeting the step-out drilling.

The  purpose of this step-out drilling is to evaluate the "Kilbricken Discovery" on PL 3679 so  as  to
determine  the extent of the mineralisation.  This will enable the Company to establish the  direction
and size of the mineralisation.

Company Chairman, Mr. Ian Forrest commented:  "These excellent drill results are very exciting for the
Company  and confirms and enforces the excellent result from the initial discovery hole.   Lundin  are
busy on site with three rigs currently active."
                The directors of the issuer accept responsibility for this announcement

Belmore Resources (Holdings) Plc                                     Tel: 0035 387 681 2883
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
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.  Lundin's agreed  initial
expenditure  will be €700,000 by June 2009 allowing for an active drilling and associated  exploration
programme over the coming months.

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

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.

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