Mr. Patrick Brandl reports

BELMONT RESOURCES REPORTS GRAVITY SURVEY RESULTS AT CRACKINGSTONE URANIUM PROJECT

Belmont Resources Inc. has released the results of the ground gravity survey on its Crackingstone uranium project near Uranium City, Sask. The survey outlines a series of gravity lows along the northeast-trending fault system that hosts the 2008 drill intercepts. Most of these lows have never been drilled.

Key results:

• 2,179 gravity stations at approximately 40-metre spacing, covering about 6.7 square kilometres;
• A corridor of gravity lows follows the northeast-trending fault system for about 2.8 km, from the Beck 93 showing to the 2008 drill area;
• Mineralization tracks the lows: samples grading greater than or equal to 0.05 per cent triuranium octoxide occur about four times as often per 100 metres of bedrock inside the cores of the low-density bodies as outside of them;
• One low-density body lies directly beneath the 2008 holes and contains intercepts including 2.09 per cent U3O8 over 0.3 m (hole C14) and up to 0.37 per cent U3O8 (hole C8);
• The strongest lows are undrilled: most low-density bodies in the 3-D model lie outside of the area drilled in 2008;
• Several of the strongest lows lie where northeast faults meet east-west or northwest-trending faults.

The 2008 drill results show that uranium mineralization at Crackingstone is concentrated where the gravity data indicate low-density rock. The company interprets these lows as zones of alteration and fracturing, which are the setting for fault-hosted (Beaverlodge-type) uranium deposits in the district.

Uranium does not simply sit at surface. Around Uranium City, it is typically found in fault zones, where uranium-bearing fluids have fractured and altered the rock over long periods of time. This broken, altered rock is less dense than the intact rock around it.

A gravity survey makes that difference visible: Where the rock shows lower density, the pull of gravity is very slightly weaker, producing a gravity low.

The actual gravity survey sharpens the targeting for future drill programs. Instead of drilling on broad structural trends, the company will plan to place each hole into the specific low-density zones where the altered, fractured rock potentially holds uranium mineralization.

Two swamps could not be accessed, and a gravity low runs off the southwestern edge of the survey. All three areas show very low readings on the nearest stations.

The central swamp lies where several interpreted faults cross, between the 2008 drill area and the Beck 93 showing. Because gravity drops toward both swamps from every surveyed side, the lowest values may lie beneath them.

Next steps

Once the swamps freeze, the survey crew will return to complete both areas. The survey will also be extended to the southwest to close off the open low. Final drill targets will then be selected by integrating the new results with the existing gravity, structural and drill data.

Qualified person

The technical information was reviewed and approved by Ken Wheatley, PGeol, MSc, senior geological adviser to Belmont, a qualified person as defined by National Instrument 43-101.

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