Mr. George Sookochoff reports

BELMONT RESOURCES PROVIDES CORPORATE AND EXPLORATION UPDATE

Belmont Resources Inc. has provided a corporate and 2025 exploration update.

Over the past 18 months Belmont has successfully attracted strategic investors who are committed to investing capital in the company's continuing projects as well as facilitating the pursuit of new opportunities for further property acquisitions.

These strategic investors include the following.

HMS Bergbau AG (HMS), Berlin, Germany

HMS is a public company which trades on the Deutsche Borse Exchange (HMU), Berlin Stock Exchange (HMUG) and Frankfurt Stock Exchange (HMU.DE)

HMS is one of the leading independent commodity trading companies in Germany. Its core business is the international purchase and sale of energy commodities, metals, ores and other renewable raw materials. Currently, the company is actively expanding towards commodity production and logistical solutions. Their reported sales FY2024 were 1.35 billion euros* (approximately $2.12-billion).

* HMS Bergbau AG news release Jan. 29, 2025.

Total HMS investments in Belmont:  $951,000

ERAG Energie & Rohstoff AG PCC (ERAG) of Liechtenstein

ERAG is a privately owned investment holdings which invest in companies that are active in the commodities sector including mining and energy.

Total ERAG investments in Belmont:  $600,000

LaVo Verwaltungsgesellschaft MBH, Berlin, Germany

LaVo is a private investment company based in Berlin, Germany.

Total LaVo investments in Belmont:  $328,000

Commodities and Resources Pte. Ltd. (C&R) of Singapore

(C&R) is also a privately owned investment holdings which invest in companies that are active in the commodities sector including mining and energy.

Total C&R investments in Belmont:  $600,000

1. Note: Total investments in Belmont includes previous financings and financing announced April 3, 2025, which is subject to shareholder approval at a special general meeting scheduled for 11 a.m. Pacific Time on May 30, 2025. See Belmont NR April 3, 2025, for more information.
2. Note: CR total investments in Belmont include previous financings along with financings announced April 3, 2025, which is not subject to shareholder approval. Belmont announced on April 7, 2025, news release that it is applying to TSX Venture Exchange for conditional approval to close $180,000 CR financing.

New board members appointed

In September, 2023, the company announced the appointment of Mr. Brandl as a new director. Mr. Brandl holds a master's degree in law and business administration and serves as a senior partner at bgm Partners, which operates offices in Vienna, Austria, and Luzern, Switzerland. bgm Partners Group specializes in investment banking and corporate finance services, with a focus on the commodity and mining industries.

In December, 2023, the company announced the appointment of Michael Kriebel to the board of directors. Mr. Kriebel is head of accounting at Berlin-based HMS Bergbau AG.

The newly appointed board members bring a broad network of connections within the European and Asian financial sectors, positioning Belmont to link its project portfolio with a wider range of investment groups throughout these regions.

Summary

George Sookochoff, president and chief executive officer of Belmont Resources, stated: "Over the past 18 months, we have strategically established strong relationships with key European investors who recognize both the potential of our current exploration projects and the opportunities for acquiring additional projects in the future. These partnerships have also enhanced our board of directors, strengthening its leadership and expanding its expertise."

"With the anticipated $1,363,500 from the April 3, 2025, financing (pending shareholder approval) and the $778,000 secured through the Dec. 10, 2024, Nevada water permit sale, Belmont is now financially well positioned to advance its three flagship projects at an accelerated pace in 2025."

About Belmont Resources Inc.

Belmont has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare-earths projects located in British Columbia, Saskatchewan, Washington and Nevada states.

National Instrument 43-101 disclosure

Laurence Sookochoff, PEng, independent consultant for Belmont Resources, is a qualified person for the purposes of National Instrument 43-101 and has reviewed and approved the technical content in this news release.

We seek Safe Harbor.