Belmont Resources Inc. has received a drilling permit from the Bureau of Land Management to drill up to nine holes on its Kibby Basin lithium project in Nevada. The drilling will test for lithium deposits and is designed to demonstrate the existence of lithium. Belmont is also arranging a private placement to raise $300,000 for exploration at Kibby Basin and general working capital. The funds will allow the company to explore the project further and secure a drilling contractor to begin drilling. Belmont's Kibby Basin project is located near an operating lithium mine and Tesla's Gigafactory, making it a highly prospective target for lithium exploration.