2017-03-15 16:16 ET - News Release

Mr. Gary Musil reports

BELMONT CLOSES PRIVATE PLACEMENT FOR $100,000

Further to its news release of March 6, 2017, Belmont Resources Inc. has completed the $100,000 private placement financing.

The company has issued two million units at a price of five cents 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. Each whole warrant will permit the holder to acquire one additional share of the company at a price of eight cents in the first year (up to March 15, 2018) and at 10 cents in the second year after closing on or before March 15, 2019. Seven placees participated.

The common shares and warrants are subject to a statutory hold period until July 16, 2017.

The company intends to use the net proceeds for drilling and exploration on the lithium property in the Kibby basin in Nevada, and for 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, United States.

On March, 30, 2016, the company acquired 16 placer mining claims, representing 1,036 hectares (2,560 acres) in Esmeralda county, Nevada, United States.

On July 11, 2016, the company reported it has arranged the staking of 213 20-acre additional placer mineral claims totaling approximately 1,724 hectares (4,260 acres) adjoining the 16 Kibby claims, increasing the total Kibby basin land position to 2,760 hectares (6,820 acres).

In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture opportunities for its two significant uranium properties (Crackingstone (982 hectares) and Orbit Lake (11,109 hectares)) in the Uranium City district in Northern Saskatchewan, Canada.

We seek Safe Harbor.