Mr. James Place reports

BELMONT ACQUIRES B.C. GOLD PROSPECT IN HISTORIC REPUBLIC-GREENWOOD GOLD DISTRICT

Belmont Resources Inc. has entered into an arm's-length acquisition agreement with David Heyman and Clive Brookes to acquire 253.34 hectares of mineral claims which are part of the former Pathfinder property, located in Southern British Columbia, approximately 18 kilometres north of Grand Forks, in the Greenwood mining division. The property covers a highly mineralized area at the northeastern edge of the Boundary mining camp, also known as the historically productive and larger Republic-Greenwood gold district. Copper and gold mining in this camp dates back to the turn of the century. More recently, other companies carrying out exploration drilling in the area have announced outstanding intersections of precious metals (Ximen Mining Corp., GGX Gold Corp. and Grizzly Discoveries Inc.).

The Belmont property is currently surrounded on three sides by claims held by KG Exploration (Canada) Inc. (a wholly owned subsidiary of Kinross Gold Corp.).

A great deal of historical prospecting, outcrop sampling, diamond drilling, and, more recently, magnetic survey and soil sampling has been carried out throughout the property and there is evidence of old mine workings in several locations on the former Pathfinder property, some going back to the late 1800s.

In the late 1990s systematic and integrated exploration programs by Cassidy Gold Corp. resulted in the discovery of several vein and skarn showings/zones with geophysical and geochemical anomalies in the area. Following up on Cassidy's work, Conlon Resources Corp. optioned the property in May of 2000 and carried out more thorough soil sampling and geochemical analysis on the property. The work by Conlon, carried out and documented by R.C. Wells, PGeo, of Kamloops Geological Services Ltd. (December, 2000, report), identified several prospective targets and recommended further study, including core drilling of high-probability areas.

In his December, 2000, report for Conlon, Mr. Wells stated: "The gold-silver mineralization at Pathfinder has several features in common with the past-producing mines in the Rossland mining camp, 60 km to the southeast. This camp was historically the second-largest B.C. gold producer. Sulphide-rich ores consisted of massive pyrrhotite-rich replacement veins averaging close to 0.5 ounce per ton (17.1 grams per tonne) gold, with significant copper and silver."

All previous work is of a historical nature, and may not have been conducted under National Instrument 43-101 standards, therefore assay results cannot necessarily be relied upon. Belmont intends to confirm the reported mineralization on its claims with the company's own sampling program. Significant historical information/data will be compiled as soon as possible to assist in the 2019 exploration program and completion of an updated geological report.

Jim Place, PGeo, chief executive officer, commented: "This was an opportunity that Belmont could not pass up. On the heels of a very positive Vancouver Resources Investment Conference (VRIC), the Prospectors & Development Association of Canada (PDAC), and with the optimism in the market surrounding growth in gold prices, mergers and acquisitions, and mine development, we were presented with a portion of the Pathfinder property. Other exciting gold news from companies exploring the historic Greenwood area mining camp have received much investor attention recently."

Other active companies in the Greenwood camp include Golden Dawn Minerals and Grizzly Discoveries. Under the terms of a Sept. 23, 2015, agreement, KG Exploration (Canada) Inc. (the subsidiary of Kinross Gold Corp.) can earn a 75-per-cent interest in certain mineral claims within Grizzly's Greenwood gold project, covering approximately 27,000 hectares (approximately one-third of the area comprising the Greenwood gold project), by incurring $3-million (U.S.) in exploration over a five-year period, with a minimum of 3,000 metres of diamond drilling and expenditures totalling $750,000 (U.S.) by Sept. 23, 2017 (which has been completed). Kinross has incurred approximately $1,280,500 in exploration to date (see Grizzly's news release dated Feb. 25, 2019). Kinross is planning further exploration within the Greenwood option for 2019.

Details of Belmont's acquisition

Pursuant to the agreement, in order to complete the acquisition the company must:

• Pay the vendors $25,000 upon signing (paid);
• Issue to the vendors 750,000 common shares of the company and 750,000 transferable warrants exercisable at a price of 10 cents per share for a period of two years from the approval date, as set out below:
  1. 625,000 shares and 625,000 warrants to the vendors on the approval date;
  2. 125,000 shares and 125,000 warrants to the vendors on the one-year anniversary of the agreement date;
• A 1.5-per-cent net smelter return royalty (NSR); the company may acquire one-half of the NSR for $1-million upon commencement of commercial production on the property.

The agreement is subject to TSX Venture Exchange approval.

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.

We seek Safe Harbor.