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Bell Coast Acquires Uranium Exploration Properties.

VANCOUVER, British Columbia -- Bell Coast Capital Corp. ("Bell Coast") (TSX VENTURE:BCP) is pleased to announce that it has acquired 2,240 acres of mineral claims within an area of abundant uranium mineralization found in the Wasatch and Battle Springs Formation, Sweetwater County and Fremont County, Wyoming.

The claims have historically been the subject of extensive exploration for Uranium. In particular, Newpark Resources (NYSE - NP) held a larger block of claims covering this area during the 60's, 70's and 80's, and as evidenced by affidavits filed with the Sweetwater County Recorder, completed geologic studies, exploration drilling, surveying and geophysical work. The Bell Coast claims were strategically located to cover an extensive system of historical drill roads and drill pads.

The Company has agreed to purchase the claims from Southwest Geothermal Inc., ("SWG") a private Nevada Company. Under the terms of the purchase agreement the Company will pay US$30,000 and 10,000 common shares of the Company on closing and US$25,000 and 100,000 common shares on the first, second and third anniversary of the closing date. In addition, the Company will reserve a 3% Net Smelter Return Royalty for SWG, which can be repurchased by the Company for a total of US$ 3 million or portion thereof.

The claims are located in the Great Divide Basin - Crooks Gap area that encompasses approximately 3,500 square miles in south-central Wyoming. Uranium mineralization has been found in three types of deposits in this area: (1) low-grade deposits associated with Eocene sub-bituminous coal and carbonaceous shale in the central and eastern part; (2) low grade caliche-type deposits of schroeckingerite in Eocene sediments in the north-central part; and (3) higher grade deposits in Eocene sandstone and conglomerate at Crooks Gap at the north edge of the basin. The Company's newly acquired claims are within the north edge of the basin and are situated immediately south of the historic Green Mountain, and Sheep Mountain Mines, which are reported to contain in excess of 100 million pounds U3O8 and approximately 5 miles north of the Sweetwater Uranium Mine and Mill.

Claim block one (the "GH" claims) consists of 44 lode mining claims on Federal Lands, covering approximately 880 acres, and Claim block two consists of 1360 acres of Wyoming State Board Lands. The majority of the claims are located in Sweetwater County, with the remainder in Fremont County. Both blocks are situated approximately 15 miles South of Jeffrey City, Wyoming. An excellent mining infrastructure exists in the Crooks Gap - Green Mountain districts. Access to claims is via well maintained paved and gravel roads via Rawlins from the south or Jeffrey City from the north. The district is supplied by telephone, water and natural gas lines and the eastern boundary of the claims, is adjacent to a high-voltage power grid.

Since the first production, Wyoming mines have produced 193 million pounds of U3O8. The energy contained in one pound of uranium is equivalent to 31 barrels of fuel oil or 10 tons of coal; so the total energy produced from Wyoming uranium is equivalent to 5.9 billion barrels of fuel oil or 1.9 billion tons of Wyoming coal. Indeed, Wyoming leads the nation in uranium production.

Bell Coast is evaluating historical data on the claims acquired and will be pursuing exploration on the claims as weather permits. This acquisition remains subject to regulatory approval.

BELL COAST CAPITAL CORP.

Rahoul Sharan, President

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
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Publication:Business Wire
Date:Oct 25, 2004
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