Belmont Resources Completes Relogging of 2008 Drill Core at Crackingstone Uranium Project, Saskatchewan

On December 11, 2025, Belmont Resources Inc. announced the completion of its relogging and resampling program on 20 historical drill holes (3,029.4 metres) from the 2008 Crackingstone Uranium Project drill campaign in Saskatchewan. Axiom Exploration Group Ltd. conducted the program, utilizing modern techniques such as portable X-ray fluorescence (pXRF) and visible and near-infrared spectroscopy (VNIR) to generate new geochemical data. The objective of this work is to update geological models, evaluate rare earth element (REE) potential, and define drill targets for the planned 2026 exploration program. Samples have been sent for analysis, with results pending. George Sookochoff, Chairman, highlighted that this modern relogging provides a new perspective on the uranium system and is crucial for defining strong drill targets.

This news is a positive, but routine, update on the progression of Belmont's Crackingstone Uranium-REE Project. It confirms the successful completion of a previously announced exploration phase. The relogging program was initiated on October 15, 2025, and the company received its multi-year drill permit for Crackingstone on December 2, 2025, explicitly for a 2026 drilling campaign. The current news release aligns perfectly with these prior announcements, indicating that the company is systematically executing its exploration strategy.

The material impact is positive as it signifies operational progress and a step closer to the highly anticipated 2026 drilling. However, it is not a game-changer as it reports the completion of preparatory work rather than new assay results or a definitive discovery. The critical next step, the assay results from the relogged samples, is still pending. Without these results, the actual geological implications and potential for defining high-quality drill targets remain unconfirmed. This is a necessary but expected milestone in the exploration cycle.

The market has not yet reacted to this specific news, as the provided price data only extends up to December 10, 2025. Given the previous routine news releases (e.g., drill permit received, relogging started), market reaction to this kind of procedural update is typically muted unless it comes with unexpected positive findings.

Belmont Resources Inc. (TSX-V: BEA) is a Canadian mineral exploration company primarily focused on uranium, rare earth elements (REE), copper, gold, and lithium projects. The company's portfolio includes properties in British Columbia, Saskatchewan, Washington State, and Nevada.

Its flagship project is the Crackingstone Uranium-REE Project in Saskatchewan, Canada, held 100% by Belmont. Located near Uranium City in the Beaverlodge Domain, 6 km from the Athabasca Basin, it benefits from good infrastructure. Historical grab samples have graded up to 15.6% U3O8, and previous mining produced 11 tons at an average of 2.3% U3O8. The company has identified three major conductive and structural mineralized corridors (totaling 10 km) and received a multi-year drill permit (valid through November 30, 2028) for up to 40 drill holes (10,000 metres) for 2026 exploration. An Exploration Agreement has been established with the Ya'thi Néné Lands and Resource Office to foster collaboration with Athabasca First Nations. The recent news confirms the completion of a relogging and resampling program of 2008 drill core, utilizing modern analytical techniques, with results pending to define future drill targets.

Other key projects include: * Come By Chance (CBC) Copper-Gold Project (British Columbia): A porphyry-CRD target project. A 2,000-meter drilling program was completed in Q2 2025, with assay results pending. * Athelstan-Jackpot (A-J) Gold Project (British Columbia): Hosts two past-producing gold mines. A 1,500-meter gold trend with widespread surface mineralization has been identified, and drilling is planned for Q3 2025. * Lone Star Copper-Gold Project (Washington State) and Kibby Basin Lithium Project (Nevada): Both are 50% and 80% optioned, respectively, to Australian Marquee Resources, which has made significant expenditures and advanced exploration including resource estimates (Lone Star) and drilling for deep-seated lithium brine (Kibby Basin).

Several properties (Kibby Basin, Lone Star, Pathfinder, Athelstan Group, Athelstan-Jackpot) are subject to Net Smelter Return (NSR) royalties, with buy-back options for a portion of the royalties.