Mr. Gary Musil reports

RESULT OF ANNUAL AND SPECIAL GENERAL MEETING

Belmont Resources Inc. held its annual and special general meeting on July 25, 2014.

At the meeting, the shareholders re-elected Vojtech Agyagos, Gary Musil, Jake Bottay, Roger Agyagos and Vadim Degen for the coming year. The scrutineer reported that there were a total of 45 shareholders holding 1,091,831 shares represented in person or by proxy at the meeting. This represents 7.49 per cent of the total 14,577,653 shares issued and outstanding.

Votes cast for each director were as follows:

• Mr. Agyagos: 1,091,831;
• Mr. Musil: 1,089,331;
• Mr. Bottay: 1,089,331;
• Mr. Agyagos: 1,091,831;
• Mr. Degen: 1,091,822.

Shareholders approved, subject to acceptance by the TSX Venture Exchange, the company's 2014 incentive stock option plan. Shareholders also approved the reappointment of Dale Matheson Carr-Hilton Labonte LLP, chartered accountants, as auditor for the ensuing year and authorized the directors to fix its remuneration.

All other resolutions submitted by management to shareholders for consideration were approved as presented including the special resolution adopting the new articles of incorporation as described in more detail in the AGM information circular under the heading "adoption of new articles."

At the director meeting following, the directors reappointed Mr. Agyagos as president and chief executive officer and Mr. Musil as corporate secretary and chief financial officer for the coming year. The audit committee will comprise Mr. Musil, Mr. Bottay and Mr. Degen.

The board of directors would like to thank the company's shareholders for their continued support throughout the past year.

We seek Safe Harbor.