Mr. Gary Musil reports

BELMONT CLOSES 1ST TRANCHE OF PRIVATE PLACEMENT FOR $195,000

Belmont Resources Inc., further to the company's news release of March 30, 2016, and the TSX Venture Exchange bulletin of April 28, 2016, has closed the first tranche of the private placement.

The company has issued 3.9 million units at a price of five cents per unit for gross proceeds of $195,000. 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 10 cents in the first year and at 15 cents in the second year on or before April 28, 2018. Two pro group placees participated for a total of 500,000 units.

The company paid a finder's fee in cash of $2,000 to Kenneth Liebscher, and Haywood Securities Inc. will receive a finder's fee of $7,500 cash and 150,000 warrants that are exercisable into common shares under the same terms as described above.

The common shares and warrants are subject to a statutory hold period until Aug. 29, 2016.

The company intends to use the net proceeds from the private placement for exploration on the Kibby basin property and general working capital. The company is continuing to receive subscriptions for the second tranche of the private placement.

We seek Safe Harbor.