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BELMONT/MONTORO COMPLETES PROPERTY ACQUISITION IN
RED LAKE CAMP
Belmont Resources Inc. (“BEO”) and Montoro Resources
Inc. (“MNQ”) previously reported an Acquisition Agreement
(March 22/04 News Release) whereby the companies agreed to acquire
100% interest in patented mineral claim rights covering an area
of 21.5 hectares. The properties are strategically located approximately
3 km south/southwest of and along strike from the Wolfden/Placer
Dome GAZ (Green Altered Zone) discovery. On March 25/04 the TSX
Venture Exchange accepted for filing this agreement.
Belmont and Montoro have now completed this transaction with the
vendors (Lawrence Shewchuk – 90%/Dan Patrie – 10%).
In consideration the companies have paid $10,000 cash ($5,000 each)
and have issued 200,000 treasury common shares (100,000 shares each)
to the Vendors. The shares are subject to a four-month hold period
expiring July 26/04.
SOUTHERN BLOCK – WALSH LAKE/BATEMAN TOWNSHIP
– RED LAKE UPDATE
Further to our news release of February 13/04, Belmont and Montoro
are pleased to announce that the preliminary geophysical interpretation
for the southern property (16 units – 256 ha) has indicated
at lease three drill hole targets clustered close to grid centre.
These claims are bordered by Rubicon/Goldcorp along the west side.
These holes totalling approx. 465 metres will provide some hard
facts about the nature of the bedrock and its expectations of hosting
gold mineralization.
The companies have been fortunate to contract St. Lambert Drilling
Co. who was able to immediately mobilize and commence drilling on
the weekend. The results from this drilling will be disseminated
as soon as available.
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