Belmont Resources Ltd. and Ya’thi Néné Lands and Resources Announce Exploration Agreement to Advance Collaboration in the Athabasca Region
Saskatoon, SK – January 16, 2025 – Belmont Resources Ltd. (“Belmont” or the “Company”) (TSX.V: BEA; FSE: L3L2) and the Ya’thi Néné Lands and Resource Office (“YNLR”), owned by the Athabasca Denesułiné First Nations of Hatchet Lake, Black Lake, and Fond du Lac, the Northern Hamlet of Stony Rapids, and the Northern Settlements of Uranium City, Wollaston Lake and Camsell Portage, are proud to announce the signing of an Exploration Agreement (the “Agreement”) aimed at fostering collaboration and promoting responsible mineral exploration within Nuhenéné, the traditional territory of the Athabasca First Nations located in Treaty 8 and Treaty 10 Territories.
This Agreement reflects the shared commitment of Belmont and YNLR to a partnership that respects the rights, values, and traditions of the Athabasca communities while supporting sustainable economic opportunities. The Agreement provides a framework to ensure exploration activities prioritize environmental stewardship, cultural preservation, and community engagement, while promoting local employment, training, and business development.
“Collaborations like this one reflect our commitment to protecting the land, fostering opportunity, and strengthening our communities,” said Mary Denechezhe, Board Chair of Ya’thi Néné Lands and Resources. “By working together with Belmont Resources, we are ensuring that exploration in our traditional territories benefits our people and aligns with our values.”
The Agreement enables active participation from the communities in the Athabasca Basin, with provisions for contracting northern businesses, compensating local harvesters, and contributing to YNLR’s community trust. It also establishes mechanisms for ongoing communication and environmental monitoring, facilitated by YNLR’s Community Land Technicians.
About Crackingstone Uranium Project
Belmont is set to launch a drilling initiative at its Crackingstone Uranium property, located a mere six kilometers from Uranium City which provides easy access to essential infrastructure and logistical support for drilling operations.
In June 2024 the company submitted a permit for 40 drill holes, totaling up to 10,000 meters over the next two years.
This program will not only focus on uranium exploration but will also involve Company geologists examining high-potential rare earth targets. These targets are characterized by extensive thorium-bearing pegmatites, which are considered strong indicators of rare earth element deposits. The dual focus on uranium and potential rare earth elements underscores the strategic importance of this exploration effort in Saskatchewan's uranium-rich Athabasca Basin region.
With the consultation with the YNLR now complete and an exploration agreement in place, the Company awaits final permit approval from the Saskatchewan Ministry of Environment.
“We are honored to establish this Exploration Agreement, acknowledging the significance of a joint partnership that respects the principles and entitlements of the First Nations and the communities represented by YNLR. This agreement lays the foundation for meaningful engagement, environmental stewardship, and shared economic benefits, ensuring that our exploration activities align with the values and aspirations of the Athabasca Nations and Communities,” said George Sookochoff, CEO and President of Belmont Resources.
About YNLR and the Athabasca First Nations and Municipalities
YNLR is a non-profit organization owned by the Athabasca Denesułiné First Nations of Hatchet Lake First Nation, Black Lake First Nation, and Fond du Lac First Nation and the Athabasca Municipalities of Stony Rapids, Wollaston Lake, Uranium City, and Camsell Portage.
YNLR was established in June 2016 with the mandate to promote and enhance the environmental, social, economic, and cultural well-being of current and future Athabasca residents.
About Belmont Resources
Belmont Resources has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:
Crackingstone Uranium: Drill Permit Pending: Crackingstone uranium project has several unique and promising characteristics that set it apart from other uranium projects: Strategic Location, High-Grade Potential, Multiple Mineralized Corridors, Proven Mineralization, Rare Earth Element (REE) Potential, Accessibility and Infrastructure. Drilling planned for Q1-Q2 2025.
Come By Chance Copper-Gold: – Drill Permitted; Drilling to date encountered outer phyllic zone of porphyry system. Results are vectoring towards large untested chargeability and magnetic anomaly which presents one of the most compelling targets for a vertically extensive porphyry center. Phase 2 drill program planned for Q1 2025.
Athelstan-Jackpot Gold: Drill Permitted; 2 former gold mines. Initial 2023 drill results from Athelstan gold mine area drilling indicates peripheral alteration zone to a potential deep-seated gold-copper porphyry.
The Lone Star Copper-Gold: 50% optioned to Australian Marquee Resources ASX:MQR; MQR has spent $2.5M in drilling, completed new resource in Dec. 2022 and a PEA in November 2023.
The Kibby Basin Lithium: 80% optioned to Australian Marquee Resources ASX:MQR; project located 60 kilometers north of the lithium rich Clayton Valley Basin. MQR has spent $2.5M in drilling in 2022 for potential deep seated lithium brine. 2022 Drilling confirmed high levels of lithium-bearing sediments along with dissolved lithium in the groundwater.
For further information, please contact:
George Sookochoff Kathy Hay
CEO/President Manager of Corporate Affairs
Belmont Resources Ltd. Ya’thi Néné Lands and Resources
604-505-4061 306-270-4083
george@belmontresources.com katherine.hay@yathinene.com
www.belmontresources.com www.yathinene.ca
Forward-Looking Statements
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