Exhibit 99.1
News release via Canada NewsWire, Toronto 416-863-9350
Attention Business Editors:
Goldbelt signs agreement to acquire Barrick's West African properties
TORONTO, Feb. 28 /CNW/ - Goldbelt Resources Ltd. (TSXV: GLD) is pleased
to announce that subject to completing a final agreement, it has entered into
an exclusive option to acquire all of Barrick Exploration Africa Limited's
assets in Burkina Faso, Mali and Guinea.
Per: "Paul J. Morgan"
Paul J. Morgan, Chairman
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: on Goldbelt's projects in Burkina Faso, 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 GLD.)
CO: Goldbelt Resources Ltd.
CNW 10:05e 28-FEB-07
