Mr. George Sookochoff reports

BELMONT PROVIDES UPDATE ON PREVIOUSLY ANNOUNCED FINANCINGS

Further to the news release of Aug. 23, 2022, whereby Belmont Resources Inc. announced it is undertaking a non-brokered private placement of up to $210,000 through the issuance of three million units at seven cents, due to market conditions at the time, this private placement did not proceed.

Further to the news release of Jan. 24, 2023, whereby the company announced it is undertaking a private placement to raise total gross proceeds of up to $875,000, consisting of 7.5 million flow-through units at seven cents and 7.0 million non-flow-through units at five cents, due to deteriorating market conditions following that announcement, the company was unable to complete this financing, and the financings were cancelled.