Effective December 29, 2006
FORM 51-102F3
MATERIAL CHANGE REPORT
1. | Name and Address of Company |
Goldbelt Resources Ltd.
372 Bay Street, Suite 1201
Toronto, ON M5H 2W9
2. | Date of Material Change |
March 22, 2007
3. | News Release |
Issued March 22, 2007 and distributed through the facilities of CCN Matthews.
4. | Summary of Material Change |
Updated mineral resource statement.
5. | Full Description of Material Change |
(a) | Full Description of Material Change |
Goldbelt Resources Ltd. received an updated resource calculation from independent consultants, Ravensgate of Perth, Australia. The new resource is estimated at 21.6 MT @ 1.7 g/t gold for 1,200,000 ounces of measured and indicated resources and an additional 8.0MT @ 1.4 g/t gold for 356,000 ounces of inferred resources at Inata (includes the Sayouba and Minfo resources as previously estimated). This new estimation, calculated using a 0.5 g/t gold lower cut-off grade, represents a 50% increase in tonnes and a 37% increase in contained gold in all resource categories from the previous estimate completed in May 2006.
(b) | Disclosure for Restructuring Transactions |
Not applicable
6. | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 |
Not applicable.
7. | Omitted Information |
No information has been omitted on the basis that it is confidential information.
8. | Executive Officer |
Contact: Collin Ellison, President & CEO
Telephone: (416) 364-0557
9. | Date of Report |
March 22, 2007