Update On The Kibby Basin Lithium Project

VANCOUVER - Belmont Resources Inc. reported on the Belmont-Marquee Resources Kibby Joint Venture (JV) 3,000 meter drill program in Nevada. The objective of Kibby drill program is to delineate a lithium-enriched brine aquifer deposit in Kibby Basin, Nevada that is amenable to mining using wells to extract brine for processing to a saleable lithium hydroxide monohydrate (LiOH·H2O) product, Kibby KB22-01. Drill hole KB22-01 has been completed at a total depth of 2,888 feet (880 meters). This drill hole targeted a highly conductive geophysical (magnetotelluric - MT) anomaly, which has the signature for a potential lithium enriched brine aquifer within the Kibby Playa (dried lakebed). Drill core from KB22-01 has been sent to Belmont’s core cutting facilities in nearby Mina, N, where it is being processed for lithium analyses. Formation water samples were collected at various depths and have been sent to Western Environmental Testing Laboratory in Sparks NV for lithium and water chemistry analyses. Water sampling was conducted by Geoffrey Baldwin, P.G. of Applied Hydrologic LTD.

President and CEO, George Sookochoff, said, “Unlike standard hardrock drilling, drilling in Nevada’s dry lake bed closed basins presents numerous challenges even for an adept driller. The stratigraphy changes constantly between swelling clays, sand, loose gravel, cemented gravel, volcanic ash and wet muds. Then there is the additional challenge of taking water samples at various depths while avoiding cross contamination between various levels and destabilization of the drill hole. It is because of these numerous challenges that very few exploration companies are willing to take the risk of drilling for lithium brines at these depths in Nevada, one exception being Albermarle, who own the only lithium producing mine in North America and have been extracting lithium brines from 1,000+  meter depths in Clayton Valley basin, 60kms south of Kibby basin. From drilling KB22-01 our drillers have now developed a system which enables them to successfully drill through various stratigraphic layers efficiently at depth and with minimal down time. With this new system our drillers are now very confident that they can effectively drill KB22-02 and KB22-03 to depths of up to and even deeper than 1,000 meters if necessary.”