New High-Grade Gold Zone Identified At Lone Star Project

VANCOUVER - Belmont Resources Inc. reported on the  the Lone Star Joint Venture (JV) in North Eastern Washington State. To date, 20 diamond drill holes for 3,578m have been completed at Lone Star with full assay results from the first nine drill holes received. Batches of core are being delivered to the laboratory approximately every fortnight with results to continue filtering through over the coming months. Drilling continues 24 hours a day as part of the forty-three hole, ~6,000m diamond drilling program. Drilling is expected to be completed at the Lone Star Copper-Gold Project in Q1-2022 with the phase 1 drill program Lone Star 2021-22 Drill Results With  Historical Drill Intercepts >1.5% CuEq and Resource.

LS21-010 was drilled at a dip of 70o to the east on the same drill pad that LS21-009 was collared from. Initial results from LS21-010 have been reported previously highlight the near surface potential of the project with multiple zones of disseminated and vein hosted, massive sulphide mineralization observed in both the Upper Zone and Lower Zones. Final results from LS21-010 have been received and form part of the content. Significant assay results received from LS21-010 36.9m @ 1.3% CuEq (0.4g/t Au & 4.5g/t Ag) from 7.8m including and 12.2m @ 2.8% CuEq (1.1g/t Au & 8.8g/t Ag) (LS21-010 previously reported).

LS21-006 intersected serpentinite and rhyolite hosted mineralization with abundant sulphides logged from 76.8-114.6m. Assay results identified mineralization underneath the historical resource wireframe with significant results including 11.9m @ 2.3% CuEq (2.0g/t Au & 3.3g/t Ag) from 99.7m (including: 1.6m @ 9.8% CuEq (11.7g/t Au & 7.0g/t Ag))

Mineralization in LS21-007 is serpentinite hosted with abundant sulphides logged from 106.7-125.6m. Interestingly, LS21-007 provided key information about the nature and timing of the polymetallic copper-gold-silver mineralization of the Lone Star deposit. High-grade gold mineralization is discordant with high-grade copper-silver mineralization and it is interpreted that early volcanogenic massive sulphide (VMS) style copper-silver mineralization has been overprinted by late shearing, brecciation and hydrothermal gold deposition. As such, the results indicate the potential to define further high-grade, structurally controlled gold mineralization that was not a focus of historical exploration programs. Significant results from LS21-007 include 17.7m @ 3.5% CuEq (2.8g/t Au & 5.9g/t Ag) from 107.9m (including 4.1m @ 6.4% CuEq (1.5g/t Au & 16.8g/t Ag) and 4.9m @ 5.7% CuEq (7.9g/t Au & 2.6g/t Ag))

Drilling continues 24 hours a day with batches of samples being delivered weekly to MSA Laboratories in Langley, British Columbia, Canada. Despite the winter conditions, production rates remain high and drill holes are being extended well beyond historical drill hole depths.

George Sookochoff, President & CEO commented, “Identifying new gold zones has the potential to add significant value to our upcoming Preliminary Economic Assessment of the Lone Star deposit.”