Mr. Gary Musil reports

BELMONT COMPLETES 1ST PHASE DRILLING AND ARRANGES $200,000 FINANCING

Further to Belmont Resources Inc.'s news release dated May 9, 2017, Harris Exploration Drilling & Associates has completed the first phase HQ core drilling program, commencing with hole No. 1 on April 23, 2017. Hole KB-1c was drilled to a depth of 548 feet on the eastern basin-bounding fault, and hole KB-2c was drilled to a depth of 1,498 feet in the playa, about 5,000 feet southwest of Hole KB-1c.

Hole KB-1c targeted the approximate location of the basin-bounding fault as defined by a gravity survey, and was drilled east of the playa (dry lake bed). The hole encountered unconsolidated alluvial sand and gravel deposits with minor occurrences of silt, clay and water courses.

Hole KB-2c was advanced in the playa area and encountered fine-grained clay-rich sediments: silts and muds punctuated by thin gravel intervals and some thicker fine-grained sand zones typical of playa lake sediments. Layers containing groundwater were encountered at numerous depths. Core has been logged, photographed and sampled at Belmont's field office facility in Mina, Nev. Samples of clay-rich core intervals were transported to ALS Labs in Sparks, Nev., for analysis. Results of assays are expected by mid-June. Hydro sleeve samples of formation water were collected from the bottoms of both drill holes, where brine is likely to collect, and were also delivered to ALS for lithium analysis and testing of physical parameters. Core sample assay results will determine whether the sediments could be a potential source of lithium for the underlying aquifers.

Existing reports describing the geological history of the area and analysis of surrounding bedrock, volcanic ash and surface sediment testing have indicated a potential for lithium in the basin.

Belmont's next stage of evaluation will consist of studying the assay and water test results to confirm the presence of lithium and carrying out geophysical surveys (electromagnetic resistivity survey and possibly seismic surveys) of the property, which should generate higher aquifer probability targets for further drilling.

National Instrument 43-101 disclosure

Robert G. Cuffney, certified professional geologist, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

Private placement financing

The company is arranging a non-brokered private placement of up to four million units at a price of five cents per unit to raise gross proceeds of up to $200,000. 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 and at 10 cents 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 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 will pay finders' fees of up to 10 per cent in cash and/or warrants. The common shares and warrants are subject to a statutory hold period, and the financing is subject to exchange acceptance.

The company intends to use the net proceeds from the private placement for continued exploration on the Kibby basin, Nevada, property, and for 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 -- $15,000/$10,000;
• Legal and audit --$10,000/$10,000;
• Rent, office and miscellaneous -- $15,000/$11,000;
• Regulatory fees -- $7,000/$5,000;
• Salaries and administrative -- $20,000/$20,000;
• Transfer agent fees -- $5,000/$3,500;
• Travel and promotion -- $18,000/$15,000.

About Belmont Resources Inc.

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

We seek Safe Harbor.