Belmont Resources Welcomes Well-Funded New Neighbour Phoenix Metals Corp. to the Greenwood Gold Camp
Neighbor drilling validates the Greenwood camp, though it offers no direct upside for Belmont.
Belmont Resources Inc. (BEA) highlighted a recent 2026 exploration program by adjacent neighbor Phoenix Metals Corp. Phoenix Metals announced a 148-hole, 55,285-meter drill program across seven targets in the Greenwood Precious Metals Project. Approximately 27,827 meters (67 holes) are planned along the JD-Golden Crown Trend, JD Deep, and Golden Crown Deep targets, located directly adjacent to Belmont’s 100%-owned Athelstan-Jackpot (A-J) Gold property. An additional 3,835 meters (12 holes) are planned at the Lexington target along the No. 7 Fault trend, situated directly across the international border from Belmont’s 50%-owned Lone Star Copper-Gold Project.
Phoenix Metals closed its IPO in July 2026, raising approximately $46.4 million in gross proceeds. Belmont explicitly states it holds no ownership interest or operational involvement in Phoenix’s project. Information is derived solely from Phoenix’s public disclosures.
Belmont Resources Inc. (BEA) issued a regional exploration update that provides no direct financial, operational, or ownership benefit to the company. While Phoenix Metals’ capital commitment validates the broader exploration potential of the Greenwood camp, Belmont’s own assets—A-J Gold, Lone Star, Crackingstone, and Come By Chance—remain at the grassroots exploration stage with no revenue or proven reserves.
The announcement is expected and incremental to regional exploration cycles. It does not alter Belmont’s capital requirements, dilution profile, or near-term cash burn. The market impact is limited to minor sentiment support for the Greenwood camp, with no material price catalyst for Belmont itself.
Belmont Resources Inc. (BEA) is a pre-revenue exploration company focused on critical and base metals. Its flagship asset is the Crackingstone Uranium/REE Project in the Beaverlodge district of Saskatchewan, which features historic uranium showings up to 15.6% U3O8, past production of 11 tons at 2.3% U3O8, and three major mineralized corridors totaling 10 km.
The company also holds interests in several other projects. The Athelstan-Jackpot (A-J) Gold Project in British Columbia has a history of production totaling 7,600 oz Au and 9,000 oz Ag. The Come By Chance (CBC) Copper-Gold Project in BC is a porphyry-CRD system with surface samples up to 17.05 g/t Au and 6.74% Cu. In Washington, the Lone Star Copper-Gold Project is a 50% joint venture with Marquee Resources, holding an indicated resource of 9.7 Mt @ 0.62% CuEq. Additionally, the Kibby Valley Basin Lithium Project in Nevada is a brine-type deposit with greater than 300 ppm Li over a thickness of more than 450 m. All projects are in exploration or development stages, and no revenue has been generated.