Mr. George Sookochoff reports

BELMONT RESOURCES ANNOUNCES RESIGNATION OF PRESIDENT & CEO

Belmont Resources Inc.'s George Sookochoff has tendered his resignation, effective July 31, 2025, from his positions as president and chief executive officer. Mr. Sookochoff will remain on the board of directors and will assist with the transition to his successor. The board will immediately commence a search for a qualified candidate to fill the president and CEO roles, and will provide updates as appropriate.

Mr. Sookochoff commented:

"It has been a tremendous honour to lead Belmont Resources through its recent period of transformation and growth. The approval by shareholders of the change of control resolution, combined with the addition of strategic European partners, has set the stage for the company's next chapter. With this solid foundation, Belmont is now well equipped to pursue new opportunities, drive innovation, and accelerate expansion across both established and emerging markets.

"I am confident that now is the right time for fresh leadership to propel Belmont to new levels of success. This will ensure Belmont becomes a dynamic, resilient and competitive player in the global mining industry, poised to capture larger opportunities and build a more diversified portfolio.

"I'd like to highlight the strategic value of our new major European investors, and the benefits they bring to Belmont and its shareholders:

• "Access to new capital and resources: The investment from established European partners provides Belmont with additional financial strength, enabling accelerated exploration and development of high-potential projects.
• "Enhanced global networks and expertise: Our new partners bring extensive international networks and specialized knowledge in commodities trading, mining and investment, helping Belmont identify and acquire new opportunities worldwide and diversify its portfolio.
• "Broader market access: Leveraging our partners' presence in Europe and potentially Asia will increase Belmont's visibility and attractiveness to new markets and investment groups.
• "Strengthened board and leadership: The addition of experienced directors with strong backgrounds in finance, mining and international business further bolsters Belmont's ability to compete globally and pursue ambitious projects.

"I look forward to remaining on the board and supporting the transition to new leadership, ensuring a smooth handover and helping guide Belmont into its exciting new future."

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