BELMORE RESOURCES (HOLDINGS) PLC
                         ("BELMORE" OR "THE COMPANY")

                             CLARE DRILLING UPDATE

Belmore  Resources (Holdings) Plc reports that it has completed six holes of an
ongoing programme  on  its  zinc  prospective licences in Co. Clare, Ireland. A
resource of 400,000 tonnes grading  12% zinc plus lead and 75 grammes per tonne
of silver had previously been identified at Milltown. Because of its geological
position at the base of the reef and  the  high grades in six of the previously
drilled holes, the Milltown resource could represent  part  of  an undiscovered
ore-forming system within the region. As suggested by Professor Murray  Hitzman
of  the Colorado School of Mines, the potential exists for an economic sulphide
deposit in the vicinity. 

In the  Milltown  area  further  drilling  may  add  to  the  resource  already
delineated.   However,  holes  now  drilled  elsewhere  on  the  licences  have
intersected the  Waulsortian Limestone which hosts most of the zinc-lead-silver
deposits in Ireland  including  the  resource  delineated at Milltown. One such
hole  contained  traces  of  base  metals  and,  in another,  heavy  alteration
indicates  the  passage  of  hydrothermal fluids which  could  carry  dissolved
metals.

Three  holes  indicated a more complex  geological  structure  than  previously
recognised and  further  geological  and  geophysical  work will be required to
locate the position and direction of additional holes to  be drilled later this
year.

Drilling  in the current programme largely satisfies work obligations  required
by the authorities to keep the licences in good standing. Detailed results will
be announced following drilling of the last two holes.

The Company  is  fully funded to complete this work and to meet its exploration
commitments on its Dromore licence in the Northern Ireland.


                                   --ENDS--


    The directors of the issuer accept responsibility for this announcement


ENQUIRIES:

BELMORE RESOURCES (HOLDINGS) PLC          TEL: 00 35387 681 2883
Patrick Mahony                         

BISHOPSGATE COMMUNICATIONS LTD            TEL: 020 7430 1600
Maxine Barnes                             MOBILE: 07860 489 571
Dominic Barretto                          MOBILE: 07930 450 156
                             
VSA RESOURCES LIMITED                     TEL: 020 7628 3989
William Voaden