Mr. Gary Musil reports

BELMONT CLOSES 2ND TRANCHE OF PRIVATE PLACEMENT FOR $157,000

Further to the news release of Feb. 22 and 27, 2017, Belmont Resources Inc. has closed the second tranche of the private placement.

The company has issued 3.14 million units at a price of five cents per unit for gross proceeds of $157,000 in the second tranche. 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 1, 2018) and at 10 cents in the second year after closing on or before March 1, 2019. Fifteen placees participated, including three pros and one insider/director.

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

The company is paying finders' fees in the amount of $8,500 in cash and 170,000 warrants that are exercisable into common shares under the same terms as described herein. The common shares and warrants are subject to a statutory hold period until July 2, 2017.

The company intends to use the net proceeds from the two tranches of the private placement completed ($367,500) for drilling and exploration on the Kibby basin, Nevada, property (approximately $150,000), further property acquisitions ($35,000), and general working capital.

The working capital use of proceeds comprises the following (maximum/minimum for the next six months of estimated operating expenditures): consulting fees $30,000/$15,000; legal and audit $15,000/$10,000; rent, office and miscellaneous $16,000/$11,000; regulatory fees $8,500/$7,500; salaries and administration $60,000/$60,000; transfer agent fees $5,000/$3,500; travel and promotion $48,000/$35,000.

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 of America.

We seek Safe Harbor.