|By Marketwired .||
|February 4, 2014 07:12 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/05/14 -- Belmont Resources Inc. ("Belmont", the "Company") (TSX VENTURE:BEA)(PINKSHEETS:BEAAF)(FRANKFURT:L3L) is pleased to announce it is arranging a non-brokered private placement to raise up to $600,000.
The Company will be issuing 5.0 million units at $0.12. Each unit will consist of one common share and one two year transferable share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company for a period of two years at a price of $0.18 per share.
The Company will pay a finder's fee of up to 8% in cash or warrants. The financing will be subject to TSX Venture Exchange acceptance.
In 2013 the Company contracted Geosig Inc. of Quebec who completed approx. 46.2 km. of induced polarization (TDIP) geophysical survey with a dipole-dipole configuration on the three areas line cut, as recommended in the NI 43-101 Report. The Company will use the funds for working capital and to continue ground geophysics and diamond drilling to test the high-priority anomalous zones and strong IP anomalies which identified new exploration targets on the Berthiaume ("Be") property in the Abitibi, Northwestern Quebec area in the Harricana-Turgeon Belt. The property is located halfway between the towns of Matagami and Lebel-sur-Quevillon.
The exploration program will be coordinated and supervised by Pierre O'Dowd, P.Geo., the Company's new V.P. of Exploration.
Previous exploration was done by Umex (1971), Shell Canada (1980) and Noranda Exploration (1983). In each case, exploration was directed at the many east-west conductive zones observed on the interpretation maps, with a target of volcanogenic massive sulphide mineralization detectable by EM airborne surveys. Umex drilled a few holes, intersecting semi-massive pyrite-pyrrhotite mineralization and graphitic sediments with traces of sulphides. In 1987, Falconbridge staked a large property including both Be blocks focusing on exploration for gold.
The Company has arranged a Quebec office for additional information and contact regarding the Abitibi area properties. The address is Suite 725, 999 De Maissonneuve W., Montreal, Quebec H3A 3L4 and telephone #514-845-1101.
About Belmont Resources Inc.
In June 2012, the Company entered into a property option agreement to acquire four groups of mineral (51) claims, representing 2,254.27 hectares in the Berthiaume, Orvilliers and Joutel Townships, all located within the Abitibi Harricana-Turgeon volcanic greenstone of Northwestern, Quebec. This belt hosts several world- class deposits that have produced both gold and base metals.
The Company completed and fulfilled the final terms of the February 2010 option agreement and has now acquired a 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan. The property adjoins the "Hammond Reef" gold deposit, belonging to Osisko Mining Corp. (former Brett Resources Inc.), along strike to the north-northeast.
In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake - 11,109 ha) in the Uranium City District in Northern Saskatchewan.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Musil, CFO/Director
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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do to...
Oct. 31, 2014 11:00 PM EDT Reads: 1,861
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worke...
Oct. 31, 2014 10:00 PM EDT Reads: 1,086
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
Oct. 31, 2014 08:15 PM EDT Reads: 2,223
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to mee...
Oct. 31, 2014 07:15 PM EDT Reads: 2,151
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also te...
Oct. 31, 2014 07:00 PM EDT Reads: 1,215
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and t...
Oct. 31, 2014 06:30 PM EDT Reads: 1,144
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, E...
Oct. 31, 2014 06:30 PM EDT Reads: 2,222
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
Oct. 31, 2014 06:00 PM EDT Reads: 1,521
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,...
Oct. 31, 2014 05:00 PM EDT Reads: 1,408
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composi...
Oct. 31, 2014 05:00 PM EDT Reads: 1,273