Form 51-102F3 Material Change Report
Under Section 85(1) of the Securities Act (British Columbia)
Under Section 118(1) of the Securities Act (Alberta)
Form 27 Material Change Report
Section 74(
2) of the Securities Act (Ontario)
ITEM 1.
| NAME AND ADDRESS OF COMPANY
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| | |
| | Goldbelt Resources Ltd. 372 Bay Street, Suite 1201 Toronto, Ontario M5H 2W9
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| | |
ITEM 2.
| DATE OF MATERIAL CHANGE
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| | |
| | September 7, 2006
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| | |
ITEM 3.
| NEWS RELEASE
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| | |
| | Issued September 7, 2006 and distributed through the facilities of CNW.
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| | |
ITEM 4.
| SUMMARY OF MATERIAL CHANGE
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| | |
| | See news release attached.
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| | |
ITEM 5.
| FULL DESCRIPTION OF MATERIAL CHANGE
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| | |
| | See news release attached.
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| | |
ITEM 6.
| RELIANCE ON SUBSECTION 7.1(2) OR (3) OF NATIONAL INSTRUMENT 51-102
|
| | |
| | Not applicable.
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| | |
ITEM 7.
| OMITTED INFORMATION
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| | |
| | No information has been omitted on the basis that it is confidential information.
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| | |
ITEM 8.
| EXECUTIVE OFFICER
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| | |
| | Contact: Collin Ellison, President & CEO
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| | Telephone: (416) 364-0557
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| | |
ITEM 9.
| DATE OF REPORT
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| | |
| | September 18,2006
|
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Goldbelt continues to uncover excellent results from Inata
TORONTO, Sept. 7 /CNW/ - Goldbelt Resources Ltd. (TSXV: GLD) is pleased
to announce additional drill results from the ongoing 35,000m drill program at
its 100% owned Inata project within the Belahouro tenement licenses.
Drilling at Inata was interrupted for three weeks by heavy rains,
however, work is expected to resume in the next week for the second phase of
drilling, focusing on targets identified in the first half of the summer
program. Goldbelt has also mobilized a drill to Souma and Fete Kole, with work
also set to begin on promising targets in the next few days.
Significant intersections are outlined below. All intercepts are
down-hole widths.
<<
-------------------------------------------------------------------------
Significant Results (greater than)2g/t
-------------------------------------------------------------------------
Width Au
Location Hole ID Easting Northing Interval m g/t
-------------------------------------------------------------------------
Inata North INRC988 682900 1589350 167-210 43 2.80
-------------------------------------------------------------------------
Inata North INRC1005 682870 1588000 14-20 6 4.94
-------------------------------------------------------------------------
Inata North INRC1006 682825 1588000 25-28 3 2.53
-------------------------------------------------------------------------
Inata North INRC1007 682800 1588000 74-80 6 4.56
-------------------------------------------------------------------------
Inata North INRC1034 683025 1589500 37-46 9 2.07
-------------------------------------------------------------------------
Inata North INRC1044 683100 1589600 87-90 3 3.87
-------------------------------------------------------------------------
119-122 3 2.17
-------------------------------------------------------------------------
Inata Central INRC1008 682825 1587900 93-99 6 2.74
-------------------------------------------------------------------------
Inata Central INRC1010 682900 1587600 70-72 2 11.31
-------------------------------------------------------------------------
Inata Central INRC1011 682945 1587500 120-125 5 2.56
-------------------------------------------------------------------------
Inata Central INRC1012 682960 1587450 100-112 12 2.91
-------------------------------------------------------------------------
Inata Central INRC1013 683015 1587315 72-85 13 3.17
-------------------------------------------------------------------------
92-100 8 2.52
-------------------------------------------------------------------------
Inata Central INRC1020 682760 1586700 115-119 4 3.67
-------------------------------------------------------------------------
Inata South INRC1023 682730 1586550 92-100 8 4.17
-------------------------------------------------------------------------
Inata South INRC1024 682710 1586500 100-108 8 3.66
-------------------------------------------------------------------------
Inata South INRC1025 682700 1586400 106-108 2 4.49
-------------------------------------------------------------------------
Inata South Ext INRC1030 682400 1584850 73-77 4 2.79
-------------------------------------------------------------------------
153-158 5 3.34
-------------------------------------------------------------------------
>>
Collin Ellison, President & CEO said "The initial phase of the 2006
drilling program has successfully delineated strike extensions of known
mineralization at Inata. The second phase will develop these new additional
resources for inclusion in the feasibility study which is expected to be
completed in Q4, 2006."
We recently completed a 5,000m drill program at the Karba permit in the
south-western Hounde region, results of which are expected in the next few
days. The Company also has a rig engaged in a 1,000m scout drill program at
Bougouriba, which is an active artisanal mining area where more than 20,000
artisanal miners are currently working on one of the resource prospects.
Surface sampling was conducted in the region earlier this year, results of
which were reported on May 23, 2006.
Note that the drill widths presented above are drill intersection widths
and may not represent true widths. Collin Ellison, President and CEO, is the
qualified person who has reviewed the results, sampling procedures and data
contained in this release.
GOLDBELT RESOURCES LTD.
Per: "Collin Ellison"
Collin Ellison, President and CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release. No stock
exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein. Certain statements contained in
this disclosure document constitute forward-looking statements which are not
historical facts and are made pursuant to the "safe harbor" provisions under
the United States Private Securities Litigation Reform Act of 1995. When used
in this document, words like "anticipate", "believe", "estimate" and "expect"
and similar expressions are intended to identify forward-looking statements.
Information concerning exploration results and mineral reserve and
resource estimates may also be deemed to be forward-looking statements, as it
constitutes a prediction of what might be found to be present when and if a
project is actually developed. These forward-looking statements are
necessarily based upon a number of estimates and assumptions that, while
considered reasonable at the time they are made, are inherently subject to a
variety of risks and uncertainties which could cause actual events or results
to differ materially from those reflected in the forward-looking statements,
including, without limitation: uncertainties related to raising sufficient
financing to fund the planned work in a timely manner and on acceptable terms;
changes in planned work resulting from logistical, technical or other factors;
the possibility that results of work will not fulfill projections/expectations
and realize the perceived potential of the Company's projects; uncertainties
involved in the interpretation of drilling results and other tests and the
estimation of gold reserves and resources; risk of accidents, equipment
breakdowns and labour disputes or other unanticipated difficulties or
interruptions; the possibility of environmental issues at the Company's
projects; the possibility of cost overruns or unanticipated expenses in work
programs; the need to obtain permits and comply with environmental laws and
regulations and other government requirements; fluctuations in the price of
gold and other risks and uncertainties.
The United States Securities and Exchange Commission permits mining
companies in their filings with the SEC to disclose only those mineral
deposits that a company can economically and legally extract or produce. We
may use certain terms in this disclosure document such as resources that are
prescribed by Canadian regulatory policy and guidelines but are not provided
for in the SEC guidelines on publications and filings.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management or its independent professional
consultants on the date the statements are made. The reader is cautioned that
actual results, performance or achievements may be materially different from
those implied or expressed in such statements.
%SEDAR: 00004199E %CIK: 0001013785
/For further information: please visit the Company's website
www.goldbeltresources.com or contact Laura Sandilands, Investor Relations or
Collin Ellison, President and CEO at (416) 364-0557 or by email
lsandilands(at)goldbeltresources.com./
(GLDRF.OB GLD.)
CO: Goldbelt Resources Ltd.
CNW 10:16e 07-SEP-06
