VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2009) - International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) and Belmont Resources Inc. ("BEA") (TSX VENTURE:BEA)(PINK SHEETS:BEAAF)(FRANKFURT:L3L) (the Companies")were unable to negotiate amended option terms pursuant to the original April 16, 2007 property option agreement (the "Agreement") with Ultra Uranium Corp. ("Ultra"). Belmont/Montoro consider the Agreement to be terminated and accordingly the option ended on the Orbit and Crackingstone properties.
Belmont/Montoro are exploring other joint ventures and potential options to continue development of this Uranium prospect, and were pleased with the results derived from the 2007/08 $350,000 exploration programs performed on the Orbit property (11,109 ha), located 8 km SW of Uranium City, Saskatchewan.
Some highlights from the sampling program included grab samples assaying 0.12% up to 0.81% U3O8. Historical samples recorded in these areas tested up to 2.88% U3O8 and an area near the north shore of Orbit Bay reported 21 small selected grab samples containing veined pitchblende assaying from 2.42% to 22.12% U3O8 (Orbit Uranium Development Limited -1951) (see February 1, 2008 news release). The 2007 helicopter airborne radiometric and magnetic survey identified and confirmed many uranium targets requiring follow-up evaluation for their uranium potential (see April 30, 2008 news release). A second 2008 geophysical airborne (electromagnetic/magnetic) survey confirmed 19 conductors of which 6 have significant strike length from 1 km to 3.5 km. These conductors are considered prime exploration targets for the discovery of uranium mineralization. Four of the conductors are coincident with significant radioactive zones detected in the 2007 survey and with historical uranium showings (see September 8, 2008 news release).
The Orbit claims are adjoining the Belmont/Montoro (982 ha) Crackingstone Uranium Property. In 2008 the Companies completed a $1.2 million Phase 1 (20 hole-3,075 m) drilling program which tested and confirmed the presence of uranium mineralization for a strike distance of 1800 meters (1.12 miles). The most significant results were obtained in hole C-14 encountering 3.0m of 0.36% (7.19 lbs./t) including 1.7m assaying 0.633% (12.66 lbs./t), including 0.3m assaying 2.087% (41.74 lbs./t) U3O8, and 0.5m assaying 0.873% (17.46 lbs./t).
About Belmont Resources Inc.
Belmont Resources Inc. is focused on acquiring and developing uranium properties in developed and emerging uranium districts. Belmont (50/50) with International Montoro Resources Inc. has acquired two significant uranium properties (Crackingstone -982 ha & Orbit Lake -11,109 ha) in the Uranium City District in Northern Saskatchewan. The Company also holds interests (50/50 with Int. Montoro) in two claim blocks in the Central Mineral Belt in Labrador.
Further information can be obtained from the Company website at www.BelmontResources.com and www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, CFO/Director
The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.
FOR FURTHER INFORMATION PLEASE CONTACT:
Belmont Resources Inc.
(604) 683-1350 (FAX)
Belmont Resources Inc.