March 3, 2008
Belmont Resources Inc. (“BEA”), and International Montoro Resources Inc. (“IMT”), the (“Companies”) are pleased to announce they have engaged the services of a drilling contractor for a Phase 1 – 30 hole -minimum 3,000 meter (10,000 ft.) diamond drilling program on the Crackingstone Uranium Project located north of Bushell Bay and 8 km west of Uranium City, Saskatchewan.. Drilling equipment, crews and materials are being mobilized and drilling will commence in approximately four to six weeks. A detailed map outlining the location of the drill holes, known uranium occurrences, radon gas anomalies and trace lines of the fault zones will be available on the Companies web sites at www.BelmontResources.com and www.MontoroResources.com. The objective of this drilling program is to explore the uranium potential of the Boom Lake Fault located on the Crackingstone claim number S-108022. The spring 2008 drilling program will test a 1.5 km section of the Boom Lake Fault north and south of Beck 94.
Belmont has completed a number of key initiatives at the Crackingstone Uranium Project including a NI 43-101 report, a preliminary report outlining development recommendations, mapping, line cutting, ground geophysics, soil sampling, grab and channel sampling, a radon gas survey, and an airborne radiometric and magnetic survey. These development programs were instrumental in defining this drill program for the Companies.
Crackingstone Uranium Project Highlights
Historically two bulk samples (46 ton and 6.5 ton) assaying 0.5% uranium were mined from the property. There are 6 known uranium occurrences located along and proximal to the Boom Lake Fault, all of which will be tested by the proposed drilling.
The Boom Lake Fault is a north northeast striking fault which is known to extend for over 3 kilometers. The fault was previously tested at the Beck 94 showing with four short (60 to 100 foot) holes and one 300 foot hole. The 300 foot hole intersected 5.1 feet grading 0.78% U3O8. Channel sampling reported the following U3O8 assay results: 3.11% over 1 foot, 1.09% over 1.5 feet and 0.90% over 1.2 feet.
The 2006-2007 winter ground geophysical VLF-EM survey identified a conductor coincident with the Boom Lake Fault and the Beck 94 Showing. The area covering the Boom Lake Fault was recently surveyed using the radon gas technique. Several radon gas anomalies were identified along the fault zone. (See February 13, 2008 news release).
Three major East-West, Southwest and Northwest trending cross-structures intersect the Boom Lake Fault; (1) between Rix 58 and Beck 94, (2) west of 66K showing, and (3) at Beck 48 (Adit #7). A property visit at the Adit #7 in 2006 returned an assay of 7.72% U3O8. A representative grab sample collected from Beck 94 during the 2007 sampling program assayed 1.24% U3O8. A third sample taken in 2007 from the 66K showing, assayed 0.56% U3O8.
The intersection of the NE trending Boom Lake Fault with the southwest, west and northwest structure is one of many other known uranium bearing structures located on the Orbit-Crackingstone property.
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.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
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