Mr. Gary Musil reports

BELMONT PROCEEDS WITH EIGHT (8) TO ONE (1) CONSOLIDATION OF SHARE CAPITAL

Belmont Resources Inc., effective June 6, 2019, at market open, will consolidate its common shares on the basis of one new postconsolidated common share for every eight preconsolidated common shares. The company's common shares will begin trading on a postconsolidated basis on the TSX Venture Exchange on June 6, 2019.

As a result of the consolidation, the company's outstanding 92,229,906 common shares were reduced to 11,528,739 common shares. No fractional shares will be issued. Any fractions of a share will be rounded to the nearest whole number of common shares. The company's name and trading symbol will remain unchanged. The consolidation was approved by the directors of the company on May 24, 2019, and accepted by the TSX Venture Exchange. Registered shareholders will be required to exchange their share certificates representing preconsolidation common shares for new share certificates representing postconsolidation common shares. Registered shareholders will be sent a transmittal letter from the company's transfer agent, AST Trust Company (Canada), as soon as practicable after the effective date of the consolidation. The letter of transmittal will contain instructions on how certificate(s) representing preconsolidation shares may be surrendered to AST Trust Company (Canada). The transfer agent will forward to each registered shareholder who has provided the required documents a new share certificate representing the number of postconsolidation common shares to which the shareholder is entitled. Until surrendered, each certificate representing preconsolidation common shares of the company will be deemed for all purposes to represent the number of whole postconsolidation common shares to which the holder is entitled as a result of the consolidation.

It is the opinion of the board of directors of the company the consolidation will facilitate new equity investment in the company.

About Belmont Resources Inc.

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