Belmont Resources Inc. (“BEA”), and International Montoro Resources Inc. (“IMT”); report International Alliance Resources Inc. (“ALL.H”) will not be proceeding with the planned acquisition of an interest in the Shaver Lake Property in the Red Lake Camp, Ontario.
The Shaver Lake property was explored by BEA/IMT at costs of $31,000 in 2004 and $135,000 in 2006. In 2004 BEA/IMT completed line cutting and a combined VLF and magnetic ground geophysical survey. In 2006 a 930 metre, 6 hole diamond drilling program was completed on a portion of the property to test a number of interpreted structures. Additional exploration and drilling was recommended.
BEA & IMT have received other interest and inquiries regarding this property
and its adjoining Walsh Lake property, however no agreements or letters of intent
have been signed.
ON BEHALF OF THE BOARD
Gary Musil, CFO/President/Director
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