Belmont Resources : Updates Finder’s Fee On Lone Star & Kibby Properties
January 06, 2022
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Vancouver, B.C. Canada, January 7, 2022; Belmont Resources Inc. ("Belmont"), (or the "Company"), (TSX.V: BEA; FSE: L3L2) Further to the Company's news releases dated November 4, 2021 and November 26, 2021 with respect to the Option Agreements on the Lone Star - Washington and Kibby Basin - Nevada properties entered into with Marquee Resources Ltd. (ASX: MQR), this will clarify the finder's fee agreement. The Company has agreed, subject to regulatory approval, to issue an aggregate of 500,000 common shares at a deemed value of $0.06 as follows:
283,333 common shares upon approval of the TSX; and
216,667 common shares within six months of approval of the TSX.
The finder's fee is related to the introduction of both the Lone Star project and the Kibby Basin projects to Marquee Resources Ltd. by the same arm's length party.
The finder fee shares will be issued with the required regulatory hold period of four months +one day from issuance.
About Belmont Resources Inc.
Belmont Resources is engaged in the business of acquiring and re-developing past producing copper-gold-silver mines in southern British Columbia and Northern Washington State. This region is considered to have the highest concentration of mineralization and past producing mines in western North America. By utilizing new exploration technology, geological modelling and specialized 3D data analysis, the company is successfully identifying new areas of mineralization beneath and/or in the near vicinity of the past producing mines
The Company's project portfolio includes 6 past producing mines:
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Belmont Resources Properties
Athelstan-Jackpot, B.C. - *Gold-Silver mines
Come By Chance, B.C. - * Copper-Gold mine
Lone Star, Washington - *Copper-Gold mine
Pathfinder, B.C. - * Gold-Silver mine
Black Bear, B.C. - Gold
Pride of the West, B.C.- Gold
Kibby Basin, Nevada - Lithium
* past producing mine
ON BEHALF OF THE BOARD OF DIRECTORS
"George Sookochoff"
George Sookochoff, CEO/President
Ph: 604-505-4061
Email: george@belmontresources.com
Website: www.BelmontResources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Belmont Resources Inc. published this content on 07 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 January 2022 00:04:06 UTC.
Belmont Resources Inc. is a Canada-based company. The Company is engaged in operating a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holding includes Athelstan-Jackpot (A-J), Crackingstone Uranium-Rare Earths, Come By Chance, Lone Star Copper-Gold, and Kibby Basin Lithium. A-J is the Company's two former gold mines. It is into 2,000m drilling to target new lode-gold deposit target in North Zone. The Crackingstone Uranium-Rare Earths Projects has met the criteria for potentially discovering a large Rare-Earth Elements (REEâs) deposit with its high-grade uranium along with presence of thorium and pegmatite. The Come By Chance Project offers potential large copper-gold porphyry. The Kibby Basin Lithium project is located 60 kilometers north of the lithium rich Clayton Valley Basin.
BELMONT RESOURCES INC. 