Mr. Vojtech Agyagos reports

BELMONT RESOURCES INC. ACQUIRES MID CORNER/JOHNSON CROFT ZINC, COBALT PROSPECT NEW BRUNSWICK

Belmont Resources Inc. has entered into a purchase agreement to acquire a 100-per-cent interest in the Mid Corner/Johnson Croft property (the MC property) northwest of Saint John, N.B.

The MC property consists of 31 mineral claims encompassing seven square kilometres and is located 24 kilometres northwest of Saint John, N.B. The property has paved road accessibility, with a three-phase transmission line running through the property.

Geology

A quartz-carbonate breccia filling occurs along a north-northwest-trending fault that, to the north, cuts the contact of the Welsford granite with the Silurian Jones Creek formation. The intrusions are mainly alkali granite and quartz syenite; the Jones Creek formation is grey to green finely laminated siltstone and fine sandstone.

Mineralized veins occur in or along the contacts of reddish granitic rocks and in the faulted sedimentary rocks. Irregular veins and pods in a breccia zone up to three feet (0.9 metre) wide are associated with a prominent north-northwest-trending transverse fault.

Historical exploration

Previous exploration on the property consisted of reconnaissance geological surveys and the collection of a few rock samples. The first mineralized samples were collect during 1970. No further work was done until 1991.

A single sample of breccia collected during the 1970 reconnaissance contained silver, cobalt and zinc mineralization.

                                    ASSAYS
Commodity                                                              Value

Silver                                                              17.3 g/t
Cadmium                                                                 0.1%
Cobalt                                                                 0.96%
Copper                                                                 0.16%
Lead                                                                   2.81%
Zinc                                                                  16.04%

Details                                     One sample from the breccia zone
Source                      Ruitenberg (1970) DNR Report of Investigation 13
Start year                                                              1970

These results were followed up by D. Rose in 1991 and M.J. McLeod in 1999, who collected two and five samples, respectively. Their results were as follows:

D. Rose:

• Sample No. 012-1 -- two parts per billion gold, 5.3 parts per million silver, 0.08 per cent copper, 0.07 per cent lead, 1.66 per cent zinc and 85 ppm cadmium;
• Sample No. 012-1A -- less than one ppb Au, 1.8 ppm Ag, 0.004 per cent Cu, 0.006 per cent Zn and less than one ppm Cd.

M.J. McLeod:

• 99MM002A -- four ppb Au, 20,000 ppm Zn and 175 ppm Cd;
• 99MM003A -- one ppb Au; less than 0.5 ppm Ag, 23 ppm Cu, 28 ppm Pb, 459 ppm Zn and two ppm Cd;
• 99MM003C -- one ppb Au; less than 0.5 ppm Ag, two ppm Cu, 129 ppm Pb, 227 ppm Zn and one ppm Cd;
• 99MM003D -- less than one ppb Au, 2.2 ppm Ag, 164 ppm Cu, 1,675 ppm Pb, 10,413 ppm Zn and 49 ppm Cd.

All previous work is of a historical nature. The work was conducted prior to implementation of National Instrument 43-101 standards, and assay results cannot necessarily be relied upon. Belmont Resources intends to confirm the reported mineralization with its own sampling program.

Conclusions

The well-defined geochemical anomalies are believed to reflect the presence of a lead-zinc-mineralized zone beneath thick overburden (A.D. Hudgins -- 1968). Management cautions that past results or discoveries on the prior claims may not necessarily be indicative of the presence of mineralization in the current claim area. The current land package also extends farther to the west and northeast, and this area has little to no documented exploration undertaken.

Proposed exploration program

High-resolution ground electromagnetic and/or gravity surveys over the area are recommended to better define locations of high conductivity for surface sampling. In 1968, it was concluded that there was too much noise from power lines to detect mineralization; however, with today's technology, the noise can be cancelled out and you will be able to see what is in the subsurface.

Acquisition terms

In consideration for a 100-per-cent interest in the MC property, the company will issue two million common shares and make cash payments totalling $10,000 over a 12-month period to the vendor. The agreement is subject to a 2.5-per-cent NSR (net smelter return royalty), of which the company has the right to purchase 1 per cent.

The company is acquiring the MC property as a secondary property and will continue to focus all near-term exploration and development efforts on its wholly owned Kibby Basin lithium property in Nevada. The company does not anticipate conducting any field exploration on the MC property until 2018. In the coming weeks, the company will complete a review of all historical information in advance of the proposed MC property exploration program.

NI 43-101 disclosure

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

About Belmont Resources Inc.

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

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