TORONTO, Feb. 22 /PRNewswire-FirstCall/ -- Goldbelt Resources Ltd. (TSXV: GLD) is pleased to announce further drill results from an additional 50 RC drill holes spanning four prospect areas along the Souma Trend at the Belahouro licenses in Burkina Faso, West Africa. Some of this drilling was planned to follow-up on excellent results from the BSF1 Prospect including 23m @ 15.51g/t gold - which was reported in November, 2006. Other drill holes were planned to test a number of high priority targets along the 13 kilometer Souma Trend where Goldbelt has identified at least six high quality gold prospects. Significant mineralization (>0.5 g/t gold) is reported in 21 of these drill holes. December's drilling also identified a new target area directly south of Souma Village which has been called Dynamite Pit (Figure 2). Drill hole SRC093 intersected 30m @ 3.06g/t gold in this new target area, and it is believed that the mineralization can be traced to Bouili, one kilometer to the south-east, where there are reports of artisanal activity. In addition, there is a 1,500m soil anomaly extending from Dynamite Pit to the northeast which will be tested in due course. Dynamite Pit lies 18 kilometers ENE of the proposed mill site at Goldbelt's flagship Inata Project. The latest significant results are shown in Table 1 and Figures 1 & 2 below. They include: Souma Village ------------- - 8m @ 5.07g/t gold from 43 meters (SRC064) - 12m @ 2.57g/t gold from 48 meters (SRC065) - 4m @ 3.88 g/t gold from 17 meters (SRC069) - 13m @ 1.97g/t gold from 4 meters (SRC075) - 6m @ 13g/t gold from 87 meters and 10m @ 12.63 g/t gold from 101metres (SRC081) Dynamite Pit ------------ - 30m @ 3.06g/t gold from 20 meters (SRC093) N'Darga ------- - 17m @ 1.18g/t gold from 91 meters (SRC050) - 3m @ 2.15g/t gold from 47 meters (SRC087) BSF1 ---- - 2m @ 4.8g/t gold from 58 meters (SRC049) ------------------------------------------------------------------------- Depth of Inter- Gold Hole hole From To val grade Number Prospect East North (m) (m) (m) (m) (g/t) ------------------------------------------------------------------------- SRC049 BSF1 705330 1590000 70 58 60 2 4.8 including 58 59 1 7.41 ------------------------------------------------------------------------- SRC050 N'Darga 701950 1590965 150 91 108 17 1.18 including 106 107 1 6.42 ------------------------------------------------------------------------- SRC058 Dynamite Pit 701500 1594800 117 98 99 1 10.1 ------------------------------------------------------------------------- SRC064 Souma Village 701580 1596130 70 43 51 8 5.07 including 45 49 4 9.71 ------------------------------------------------------------------------- SRC065 Souma Village 701570 1596180 72 48 60 12 2.57 ------------------------------------------------------------------------- SRC069 Souma Village 701570 1596280 70 17 21 4 3.88 including 17 20 3 4.60 ------------------------------------------------------------------------- SRC070 Souma Village 701625 1596320 62 50 60 10 0.92 including 51 52 1 2.81 ------------------------------------------------------------------------- SRC071 Souma Village 701595 1596470 70 55 66 11 0.92 including 60 63 3 1.94 ------------------------------------------------------------------------- SRC075 Souma Village 701620 1596630 40 4 17 13 1.97 including 8 13 5 3.37 ------------------------------------------------------------------------- SRC081 Souma Village 701700 1595859 123 87 93 6 13.00 including 91 93 2 28.80 SRC081 101 111 10 12.63 including 108 111 3 40.09 ------------------------------------------------------------------------- SRC087 N'Darga 702000 1590400 153 47 50 3 2.15 including 48 49 1 4.2 ------------------------------------------------------------------------- (x)SRC089 N'Darga 702580 1590150 183 84 88 4 1.63 ------------------------------------------------------------------------- SRC093 Dynamite Pit 701480 1594600 111 20 50 30 3.06 including 28 31 3 11.09 including 42 43 1 23.50 ------------------------------------------------------------------------- Table 1. Significant 2006 drill results from the Souma Trend ------------------------------------------------------------------------- (x)Denotes that the mineralization is quoted from a 4m composite sample Notes for 2006 RC drilling - All holes are drilled by reverse circulation - All holes have been drilled to Grid East (between 085 degrees and 098 degrees magnetic) and at an inclination of -60 degrees. All holes have been downhole surveyed at least every 50m - All samples are 1m interval riffle split RC samples (unless stated otherwise) where the original 4m composite samples returned values in excess of 0.3 g/t gold - All samples were prepared at the SGS Laboratory in Ouagadougou by lead recuperation, fire assay with an atomic absorption spectrometry (AAS) finish (a detection limit of 0.01 ppm Au quoted by SGS) - Internationally recognized geo-reference standards, duplicate samples and blank samples are inserted in sequence with all drilling samples at a frequency of 1 in every 25, 20 and 30 respectively to monitor the accuracy of the procedure - All results of geo-reference standards and blanks are routinely monitored to be within acceptable limits for the type and method of analysis used - All results are reported to two decimal places - The intercepts quoted are down-hole lengths and therefore might not represent the true widths of the mineralisation - All intercepts are greater than 5 gramme-metres and are quoted using a 0.5 g/t gold lower cut-off, no upper cut-off and less than 4m of internal dilution (