2016-09-21 09:53 ET - News Release

Mr. Gary Musil reports

BELMONT PLANS FOR KIBBY CLAIMS- NEVADA DRILLING PROGRAM & CONTRACTS CONSULTING GEOLOGIST & WHAT'S DRIVING THE LITHIUM MARKET

Belmont Resources Inc. has recently paid the 2016/2017 maintenance fees on the Kibby 1-16 Association Placer Mining claims at a cost of $19,840 (U.S.) ($26,300), to secure the originally acquired 2,560 acres (1,036 hectares) located 65 kilometres north of Clayton Valley, in Esmeralda county, Nevada.

The company will now be proceeding with the filing of the additional staked 213-acre-by-20-acre placer mineral claims totalling approximately 4,260 acres (1,724 hectares). This increases the total Kibby basin and position to 6,820 acres (2,760 hectares).

Following the completed gravity survey recommendations, the company is commencing the planning for approximately six direct push shallow drill holes (100 feet to 200 feet), as well as four deeper reverse circulation drill holes up to 1,500 feet, as proposed by the comapny's consulting geologist. The notice-of-intent-to-drill permit is being prepared, and quotes for the drilling, assaying and related work are being compiled.

Robert (Bob) G. Cuffney, exploration geologist of Reno, Nev., contracted

The company is pleased to announce that it has contracted Mr. Cuffney to oversee the continued exploration and development of the Kibby basin property. Mr. Cuffney has more than 35 years of diverse experience designing, organizing, implementing and managing exploration and development programs for precious metals, base metals, uranium, coal and industrial minerals in the Western United States, Alaska, Mexico, Indonesia, Fiji, the Philippines, China, Mongolia and Australia.

He is a qualified person for National Instrument 43-101 reporting, and his experience in all phases of geological, geochemical and geophysical exploration programs from grassroots exploration through discovery to development and mine/ore control geology will be a huge asset to Belmont's ongoing development of the Kibby basin property.

What is driving the lithium market

Lithium mining is a leading industry supporting three separate billion-dollar industries -- electric vehicles (EVs), energy storage and smart phones:

• China's lithium-ion battery production tripled in 2015.
• 12 lithium-ion battery megafactories are coming by 2020, including Panasonic, Tesla, LG Chem, Samsung SDI, BYD Co. and Foxconn.
• Goldman Sachs calls lithium the new gasoline. It forecasts 22-per-cent electric vehicle penetration by 2025, and lithium demand for all EV applications could grow more than 11 times by 2025.
• Ford is spending $4.5-billion (U.S.) to add 13 new EV models to electrify 40 per cent of its vehicle line up by 2020
• General Motors has the Bolt coming, Nissan has the Leaf, Toyota has the Prius, and Mitsubishi has the Highlander; Volkswagen, Audi/Porsche, BMW and Renault are all moving fast toward EVs. BYD Co. and Tesla are leading the pure EV plays, requiring more lithium each year.

In the news

The lithium-ion battery market is projected to reach $77.42-billion (U.S.) in 2024. Transparency Market Research has announced the release of a new report on the global lithium-ion battery market. The report examines the historical trajectory of the global market and presents detailed forecasts regarding the market's development from 2016 to 2024.

We seek Safe Harbor.