Mr. Gary Musil reports

BELMONT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $210,500

Further to its news release of Feb. 15, 2017, Belmont Resources Inc. has closed the first tranche of its private placement.

The company has issued 4.21 million units at a price of five cents per unit for gross proceeds of $210,500. 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 eight cents in the first year (up to Feb. 22, 2018) and at 10 cents in the second year after closing on or before Feb. 22, 2019. Nine placees participated, two being directors/insiders each subscribing for 500,000 units.

The company is paying finders' fees in the amount of 42,000 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 June 23, 2017.

The company intends to use the net proceeds from the private placement for drilling and exploration on the Kibby basin, Nevada, property and general working capital.

We seek Safe Harbor.