VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 23, 2008) - Belmont Resources Inc. ("BEA") (TSX VENTURE:BEA)(PINK SHEETS:BEAAF)(FRANKFURT:L3L) and International Montoro Resources Inc. ("IMT") (TSX VENTURE:IMT)(PINK SHEETS:IMTFF)(FRANKFURT:O4T) are pleased to report further drill results from the Phase 1 - 20 hole drilling program on their 100% owned Crackingstone property in the historic Uranium City/Beaverlodge mining camp which boasts historical production of over 70.5 million pounds of U3O8. The drilling program was planned to test a northeasterly trending electromagnetic conductor coincident with the Boom Lake Fault which hosts the Beck 94 mineralized zone where surface sampling returned 1.24% U3O8 in 2007. This drilling tested and confirmed the presence of uranium mineralization for a strike distance of 1800m (1.12 Miles) along the Boom Lake Fault. The drilling also intersected an east-west structure (North Crackingstone Fault) in holes C-09-08, C-10-08 and C-11-08. The drilling to this point strongly indicates increased width, intensity of alteration and uranium mineralization around the intersection point of these two faults. These intersection points provided ample fracturing for the transportation of uranium bearing hydrothermal fluids. The substantial drilling, sampling, radon gas survey, ground and airborne survey results obtained to date strongly warrant additional exploration programs including further drilling.
Hole C-09-08 was drilled northward at an angle of 45 degrees, to intersect an east-west lineament (North Crackingstone Fault) and to explain the cause of the radon gas anomaly trend detected in the 2007 fall exploration program. Hole C-09-08 assay results including a 10.6m intersection from 53.1m to 63.7m are listed below in Table 1:
Table 1 -------------------------------------------------------------------------- From (m) To (m) Length (m) U3O8 % Pounds per Ton -------------------------------------------------------------------------- 39.70 40.30 0.60 0.020 0.40 53.10 53.90 0.80 0.001 53.90 55.10 1.40 0.080 (including) 53.90 54.70 0.80 0.114 2.28 54.70 55.19 0.60 0.044 0.88 55.10 55.80 0.70 0.004 55.80 62.80 7.00 0.036 (including) 55.80 58.60 2.80 0.037 (including) 55.80 56.20 0.40 0.060 1.20 56.20 57.30 1.10 0.012 0.24 57.30 58.20 0.90 0.017 0.34 58.20 58.60 0.40 0.125 2.50 58.60 59.00 0.40 0.006 59.00 59.40 0.40 0.182 3.64 59.40 60.60 1.20 0.006 60.60 61.80 1.20 0.035 (including) 60.60 61.20 0.60 0.022 0.44 61.20 61.80 0.60 0.048 0.96 61.80 62.60 0.80 0.004 62.60 62.80 0.20 0.126 2.52 62.60 63.70 0.90 0.001 114.30 114.60 0.30 0.066 1.32 --------------------------------------------------------------------------
These mineralized systems are generally recognized with the presence of calcite, chloritization, silicification and hematization. The past producing Cinch Uranium Mine, with historical production of 661,000 lbs of uranium, is located along the Crackingstone Fault to the east of the drilling area and is suspected of being the westerly extension of the St. Louis Fault ("StLF"). The bulk of previous uranium production in the Beaverlodge Camp from the Ace, Fay and Verna Mines (40 million lbs) was contained within the StLF.
Hole C-10-08 is located at the same location as C-09-08 but was drilled northward at an angle of 60 degrees to intersect the down dip extension of the mineralization intersected in Hole C-09-08. A total of 10 samples were taken from this hole. The assays ranged from 0.001% up to 0.256% U3O8 over sample widths from 0.3m to 1.7m. The best results were obtained in a 7.3m intersection between 106.3m and 113.6m including 108.5m to 108.9m (0.4m) assaying 0.256% U3O8 (5.12 lbs/ton) and 108.5m to 110.5m (2.0m) averaging 0.058% U3O8 (1.17 lbs/ton).
Hole C-11-08 is located 100m east of C-09-08 and C-10-08 and was drilled at an angle of 45 degrees northward and intersects the easterly extension of uranium mineralization intersected in the above two holes. A total of 9 samples were taken from this hole. The assays ranged from 0.001% up to 0.137% U3O8 over sample widths from 0.3m to 1.3m. The 0.137% U3O8 came from a 0.3m section off a 5.7m wide zone of anomalous uranium mineralization from 39.1m to 44.8m.
Hole C-12-08 is located approximately 200m southeast of C-09-08 and was drilled northwesterly to intersect the Boom Lake Fault. This hole intersected uranium mineralization on the east flank of the Boom Lake Fault. A total of 28 samples were taken from this hole. The assays ranged from trace up to 0.173% U3O8 over sample widths from 0.3m to 1.5m. The best results obtained were: 36.7m to 37.6m (0.9m) assaying 0.082% U3O8 (1.64 lbs/ton) and 46.2m to 46.5m (0.3m) assaying 0.173% U3O8 (3.46 lbs/ton).
Hole C-13-08 is located 200m northeast of C-09-08 and was drilled northward and intersected uranium mineralization on the west flank of the Boom Lake Fault. A total of 5 samples were taken in this shallow hole. The assays ranged from 0.001% up to 0.015% U3O8 in a 4.5m intersection between 64.2m and 68.7m.
Additional information including detailed maps, images and complete drilling results of the Crackingstone Uranium Project will be posted soon on the respective company web sites.
This news release was reviewed and approved for technical disclosure by Raymond A. Bernatchez, P.Eng., Consulting Geologist, an independent qualified person under NI 43-101.
All samples were shipped in sealed containers to SRC Geo-analytical Laboratories in Saskatoon, Sask., for analysis. All samples were analyzed using standard ICP partial and total digestion methods. A QA/QC program was implemented as part of the sampling procedure for the drill program. Field duplicates and field blanks were inserted into the sample stream with at least one standard sample and duplicate inserted every 19 and 37 samples respectively for quality checks. The laboratory also has an extensive in-house quality control system.
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, Northern Saskatchewan (recently optioned the Orbit claim block to Ultra Uranium Corp. (TSX VENTURE:ULU)). Belmont has also staked (100% owned) 63,184 ha in the Wollaston/Reindeer Lake-Compulsion Bay area, southeast Athabasca Basin, 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, or by phoning 604-683-6648.
About International Montoro Resources Inc.
International Montoro Resources is focused on advancing its 100 percent optioned Elliot Lake uranium project in northern Ontario. In addition the Company is continuing development with Belmont (50/50) of its Crackingstone (982 ha) & Orbit (11,109 ha) properties in the Uranium City District, Northern Saskatchewan. The Company also holds interests in the Cup Lake/Donen uranium project in south-central British Columbia and two claim blocks (50/50 with Belmont) in the Central Mineral Belt in Labrador.
For further information phone 604-683-6648, visit the Company website at www.MontoroResources.com and watch the Smartstox interview with President Gary Musil (www.smartstox.com/interviews/imt.php).
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.
Dean Stuart
(403) 517-2270
Website: www.BelmontResources.com
CHF Investor Relations
Chris Haldane
(416) 868-1079, ext. 237
Website: www.MontoroResources.com
