TORONTO, Feb. 16 /PRNewswire-FirstCall/ -- Goldbelt Resources Ltd. (TSXV: GLD) has granted 650,000 incentive stock options exercisable at $1.08 which will expire in February, 2012. Of these options, 500,000 have been granted to officers and directors of the company and 100,000 have been awarded to an employee of the company engaged in investor relations activities. These stock options have been granted in accordance with the company's 2005 stock option plan. 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 of this news release. DATASOURCE: Goldbelt Resources Ltd. CONTACT: please visit the Company's website http://www.goldbeltresources.com/ or contact Laura Sandilands, Investor Relations or Collin Ellison, President and CEO at (416) 364-0557 or by email

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