Belmont receives drill permit for Crackingstone

Executive Summary

• Belmont Resources Inc. has received a Crown land work authorization (CLWA) drill permit from the Saskatchewan Ministry of Environment for its 100%-owned Crackingstone uranium-rare-earth-element project.
• The multi-year permit is valid through November 30, 2028, and authorizes up to 40 drill holes, 2.5 km of new trail construction, 5 km of trail refurbishment, and ground geophysical surveys.
• The company is preparing for a 2026 drilling campaign, leveraging strong historical data where all 20 historical holes intersected uranium mineralization, and identifying three major mineralized corridors totaling 10 km.

Key Details

• Permit Details: Issued under the Provincial Lands Act, Crown Resource Land Regulations, and Environmental Management and Protection Act.
• Authorized Activities:
  • Up to 40 drill holes and drill pads.
  • Up to 2.5 kilometres of new trail construction.
  • Up to five km of trail refurbishment.
  • Ground geophysical surveys and grassroots exploration.
• Validity Period: Valid through November 30, 2028.
• Location: Crackingstone project area, Uranium City mining district, Saskatchewan (centered near UTM 627600 E/660200 N, Zone 12N).
• Historical Context: A 2008 diamond drill program completed 20 holes, all of which intersected uranium mineralization, confirming widespread uranium-bearing structures.
• Geological Potential:
  • Historic grab sample grades up to 15.6% triuranium octoxide.
  • Previous mining produced 11 tons at an average grade of 2.3% U3O8.
  • Three major conductive and structural mineralized corridors identified, totaling 10 km in length.
• 2026 Plan: Belmont is finalizing drill contractor selection, optimizing access routes, and integrating geological/radiometric/magnetic/structural data for the 2026 drill layout.

Notable Quotes

• "Receiving the Crackingstone drill authorization is an important milestone for Belmont... This multiyear permit gives us full flexibility to conduct drilling and associated exploration work across multiple high-priority uranium and rare earth targets. With strong historical results and compelling modern geophysical data, Crackingstone is positioned for a very meaningful drill campaign." — George Sookochoff, Chairman