Highlights during Period -

• Joint Venture agreement with Lundin Mining Exploration Limited ("Lundin") giving Lundin the right to earn up to a 70% interest in the Prospecting Licences ("PLs") that Belmore currently holds in Co. Clare;
• Lundin to spend up to €14.7 million over a number of years to earn up to the 70% interest;
• Lundin's agreed initial expenditure will be €700,000 by June 2009; and
• Acquisition of the remaining interest in the Prospecting Licences that were not already held from Central Mining Finance Limited.

Post Period Highlights -

• Commencement of active drilling programme on the PLs held by Belmore in Co. Clare, Republic of Ireland;
• Significant results from the initial appraisal drilling of its Kilbricken Zinc-Lead-Silver discovery - including: 21.25 m (21.2 m true thickness) grading 11.0% Zinc, 4.8% Lead, 94.4 gm/tonne Silver; and
• Pace of diamond drilling increased with three additional drillholes currently in progress.

Company Chairman Mr. Ian Forrest said: "We are delighted with the results from the Kilbricken discovery. The initial drill hole was impressive enough in its own right to attract the attention of Lundin who agreed to cover exploration costs so as to advance the prospect.

"The further excellent drill results are very exciting and we look forward to updating the market as the project continues to advance."