Mr. James Place of Belmont reports

BELMONT ENGAGES HARRIS EXPLORATION DRILLING TO COMMENCE DRILLING KIBBY BASIN, NEVADA LITHIUM PROPERTY

Belmont Resources Inc. and MGX Minerals Inc. have engaged Harris Exploration Drilling and Associates Inc., a California company, to mobilize equipment and to commence drilling on the Kibby property with an anticipated start date of July 28, 2018.

Harris Drilling has extensive experience drilling in the Clayton Valley lithium brines, in recovering core in unconsolidated lakebed sediments, and in lithium brine testing.

Robert Cuffney, exploration geologist, has selected the first holes based on the results from the Quantec MT geophysical survey completed in January. The proposed drill holes are designed to test a large strong MT (magnetotelluric) conductor, which may represent aquifers containing lithium brines. Holes have been designed to intercept the MT anomaly starting at depths of 325 metres (1,065 feet) and continuing to as much as 760 m (2,500 feet) with the objectives of determining the nature of the conductor, collecting sediment samples for lithium analyses, identifying aquifers, and sampling water and any brines encountered.

Harris Drilling will employ an RD 10 rotary drill to complete the holes. Drill samples will be collected continuously on three m (10 feet) intervals and analyzed for lithium and associated elements. Water samples will be collected periodically as the hole progresses and will be analyzed for lithium, associated elements and physical properties (conductivity, pH, TDS). Downhole geophysical logging will be performed by Southwest Exploration Services of Chandler, Ariz., to identify permeable/aquifer zones and zones of conductivity. Aquifer water will be sampled using downhole packers to isolate the aquifer intervals.

Previous drilling by Belmont reached a depth of 457 m (1,498 feet) in playa sediments outside of the MT anomaly.

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.

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 (the United States).

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

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