2017-03-06 13:04 ET - News Release

Mr. Gary Musil reports

BELMONT CONTINUES SUBSCRIPTIONS FOR $100,000

Further to Belmont Resources Inc.'s news releases of Feb. 15, 2017, and the closing of the first tranche of 4.21 million units on Feb. 22, 2017, and on March 1, 2017, the closing of the second (final) tranche of 3.14 million units, the company successfully completed a total of 7.35 million units and received total gross proceeds of $367,500. As the Company is continuing to receive further subscriptions, the TSX Venture Exchange (the "Exchange") has asked the Company to issue a news release and therefore is announcing a new financing of up to 2,000,000 units (the "Units") at $0.05 per Unit for gross proceeds of $100,000.

Each Unit will consist of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each whole warrant will permit the holder to acquire one additional share of the Company at a price of $0.08 in the first year and at $0.10 in the second year after closing.

In addition to relying upon other available prospectus exemptions to effect the private placement, a portion of the private placement may be completed in accordance with the exemption set out in BC Instrument 45-536 (Exemption from prospectus requirement for certain distributions through an investment dealer), (the "Investment Dealer Exemption"). The Company also confirms there is no material fact or material change related to the Company which has not been generally disclosed.

The Company will pay finder's fees of up to 10% in cash and/or warrants. The Common Shares and Warrants are subject to a statutory hold period and the financing is subject to Exchange approval.

The Company intends to use the net proceeds from the private placement for drilling and exploration on the Kibby Basin, Nevada lithium property and general working capital.

About Belmont Resources Inc.

Belmont is an emerging resource company engaged in the acquisition, exploration and development of mineral properties in Canada and Nevada, U.S.A.