(TheNewswire)
September 22, 2023 – TheNewswire - Vancouver, B.C., Canada -Belmont Resources Ltd. (“Belmont” or the “Company”)(TSXV:BEA ) ; ( FSE:L3L2) announces that the Board hasapproved the adoption of a 10% fixed stock option plan effective July28, 2023 which replaces the Company’s legacy 10% rolling plansubject to the approval of the TSX Venture Exchange (TSX.V).
The new stock option plan provides for the granting of7,868,372 options (10% of the total 78,683,372 issued and outstanding)of which currently 3,158,372 are available for new grants.
The Board has reasoned that the new stock option planwill satisfy the objective to attract and retain our personnel as wellas aligning with the interests of our shareholders. All previouslygranted options shall be continue to exist and be exercisable underthe new plan.
About Belmont Resources
Belmont Resources has assembled a portfolio ofhighly prospective copper, gold, lithium, uranium and rare earthsprojects located in British Columbia, Saskatchewan, Washington andNevada States.
-
Athelstan-Jackpot (A-J): 2 former gold mines. Planned 2,000m drilling to target multi-coincident geophysical anomaly on strike withneighboring gold trend and gold mines.
-
Crackingstone Uranium-Rare Earths: Some of the highest grade Rare Earth Elements (REE’s) are beingdiscovered in Northern Saskatchewan due to the presence of Uranium,Thorium Pegma ti tes.Crackingstone project meets the criteria for poten ti ally discovering a large REE’sdeposit with its high grade uranium along with thorium and pegmatite.A review of 3,000m of 2008 drill data shows a 1.3km pegmatite dykedrilled but only assayed for uranium at that time. 2023 plans are to re-assay pegmatitesections for REE’s ;
-
Come By Chance (CBC): 2021 geophysics delineated potential large copper-goldporphyry
2022 drilling provided further vectors towardspotential core of porphyry;
-
The LoneStar Copper-Gold: optioned to Australian Marquee Resources ASX:MQR. MQR hasspent in excess of $2.5M in drilling, completed new resource in Dec.2022, and is currentlypreparing a Preliminary Economic Assessment inorder to earn 80% interest.
-
The Kibby BasinLithium project located 60 kilometers north ofthe lithium rich Clayton Valley Basin: Optioned 80% of the centralKibby Playa claim block to Australian Marquee Resources - MQR. MQR hasspent in excess of $2.5M in drilling in 2022 for potential deep seatedlithium brine. 2022 Drilling confirmed high levels of lithium-bearingsediments along with dissolved lithium in the groundwater. Mineralizedintervals containing up to 924 ppm lithium with greater than 300 ppmlithium over thicknesses in excess of 450m have been identified incore samples of clay-rich playa sediments.
ON BEHALF OF THE BOARD OF DIRECTORS
“GeorgeSookochoff”
George Sookochoff, CEO/President
Neither the TSX Venture Exchange nor its RegulationServices Provider (as the term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this news release.
This Press Release may contain forward-lookingstatements that may involve a number of risks and uncertainties, basedon assumptions and judgments of management regarding future events orresults that may prove to be inaccurate as a result of exploration andother risk factors beyond its control. Actual events or resultscould differ materially from the Companies forward-looking statementsand expectations. These risks and uncertainties include, among otherthings, that we may not be able to obtain regulatory approval; that wemay not be able to raise funds required, that conditions to closingmay not be fulfilled and we may not be able to organize and carry outan exploration program in 2023, and other risks associated with beinga mineral exploration and development company. These forward-lookingstatements are made as of the date of this news release and, except asrequired by applicable laws, the Company assumes no obligation toupdate these forward-looking statements, or to update the reasons whyactual results differed from those projected in the forward-lookingstatements.
Copyright (c) 2023 TheNewswire - All rights reserved.