Mr. George Sookochoff reports

BELMONT IDENTIFIES NEW EXPLORATION TARGETS AT ITS A-J GOLD PROPERTY AND PREPARES FOR ITS 2020 EXPLORATION PROGRAM

Belmont Resources Inc. has started its 2020 exploration program on its recently acquired Athelstan-Jackpot (A-J) gold property located in the Phoenix mining camp of Southern British Columbia.

About the Athelstan property

The Athelstan property was staked in the late 1890s, and was worked intermittently from 1901 through to 1940. The property has two past-producing gold mines, the Athelstan and Jackpot, which produced approximately 6,979 ounces gold and 8,234 ounces silver from 38,665 tons of material intermittently during the period from 1900 through 1940 (Minfile 082ESE047).

The A-J property is situated on a southeast mineralized trend, extending from the past-producing Phoenix mine three kilometres to the northwest. Belmont's Black Bear and Pride of the West claims lie on the trend as well.

The property adjoins the Golden Crown property. The Golden Crown mine has been previously mined with material being sent to Golden Dawn Minerals' 200-tonne-per-day Greenwood mill, 1.5 kilometres directly north of the A-J property. The Golden Crown mine has a 2017 preliminary economic assessment National Instrument 43-101 resource.

Along with the two past-producing gold mines, Athelstan and Jackpot, the property contains extensive amount of trenches, pits and adits throughout the property.

Property mineralization

Nine principal areas of mineralization are known on the property: the Athelstan, Jackpot, A, B, J-11, J-34, Oro, Bay Horse and Iron Clad zones.

The most prevalent style of mineralization consists of auriferous massive to semi-massive sulphide lenses (arsenopyrite-pyrite) along shear zones within listwanite, and along intrusive contacts and locally within Lexington porphyry.

Near-surface, massive sulphide zones can be strongly oxidized. All of the historic production from the property, and the vast majority of the previous exploration, has been directed at massive sulphide and oxidized sulphide zones within listwanite.

At the Jackpot mine, two lenses of mineralization, each ranging up to 7.6 metres in true thickness with horizontal dimensions of about 12 by 30 metres, were mined.

At Athelstan, the main mineralized lens measured about 12 by 18 metres, and had a true thickness of 0.9 and 2.4 metres. Other smaller lenses were mined at both locations. Mineralization is exposed in pits on the Butte Crown grant. The mineralization also occurs in pits on the Iron Clad Crown grant, 400 metres northeast of Jackpot.

Along with the numerous mineralized pits, the property contains extensive mine dumps that appear to contain further mineralization.

In a 2001 summary report on the A-J group prepared by R.E. Miller, BEng, Sci, PGeo, Mr. Miller stated "the identification of one to two areas of material having dimensions of 2.0 metres thick, 15 metres in width and 90 metres in length with an average grade of 0.3 ounce per ton gold."

Data compilation

Belmont has completed the digitizing and compiling all historic exploration data into a single comprehensive GIS digital database. This exercise included geo-referencing, digitization and interpretation of various layers of geological data, in addition to a 3-D modelling exercise aimed at generating drill targets at several mineralized zones.

Data acquisition, compilation and analysis are an important and necessary first step, which provides the company with a solid database and multiple layers of exploration data, which can now be readily analyzed and assessed for purposes of planning the best strategy for advancing the A-J property and to commence the field program for the 2020 exploration season.

2020 exploration program

Induced polarization survey

The company is making preparations for a 100-metre line space IP survey over the mineralized zones. IP highlights electrically chargeable rock, including those containing significant sulphides which the property contains and shows to be associated with mineralization.

The close line spaced IP survey will provide a highly detailed 3-D geophysical model beneath the surface mineralization to a depth of approximately 300 metres, which will be important for identifying further drill targets.

Drilling

Multiple drill targets have been selected from surface exploration data, and the results of the IP survey will help in identifying possible deep-seated vertical open space pathways for mineralized-bearing hydrothermal solutions.

The company is preparing a permitting application of a five-year 10-site drilling program and potentially envisions conducting first-pass drilling on one or more targets before the end of the 2020 field season.

Airborne imagery survey

A property-wide low-level, high-resolution imagery airborne survey is being planned for the first week of July. The survey will provide very fine resolution elevation and photographic data that will be very useful for accurately locating and detailing mapping workings, showings and rock exposures over the entire property.

George Sookochoff, president and chief executive officer, commented, "I was initially very excited at being able to have the opportunity of acquiring the Athelstan-Jackpot Crown-granted mineral claims, in particular with the properties situated in a highly mineralized region of British Columbia and also having two past-producing gold mines, but now that we have completed the arduous task of digitizing, compiling and reviewing all the historic data, I am only now able to fully appreciate the tremendous potential the A-J property holds for the discovery and development of both near-surface and deeper gold deposits."

The Phoenix -- Republic mining districts

The Phoenix mining camp is a highly mineralized district which ranks as the sixth-largest gold-producing camp in British Columbia, with a total production of over one million ounces of gold. The majority of this gold production is from the past-producing Phoenix copper-gold mine, located only three kilometres northeast of the A-J property.

Approximately 40 kilometres to the south, recent exploration in the area between Republic Washington and the international border has resulted in the discovery of nine new gold deposits within the past 10 to 15 years with a total contained gold content in excess of four million ounces with 2.5 million ounces being produced from epithermal veins.

The total gold (produced and known reserves), in an area measuring 50 by 40 kilometres, which includes the Phoenix and Republic districts, exceeds 7.4 million ounces gold.

Although the Phoenix area has a similar geologic regime as the Republic area, comparatively little exploration has targeted epithermal gold mineralization.

The ability of this area to continue to produce attractive gold deposits by utilizing newly recognized metallogenic models used in the discovery of gold deposits in the south justifies acquisition and exploration of properties with good epithermal exploration models and targets.

Qualified person

The scientific and technical information that forms the basis for parts of this press release was prepared and/or reviewed by Laurence Sookochoff, PEng, who is a qualified person as defined by National Instrument 43-101.

The qualified person has not verified the data disclosed, through sampling, or analytical or test data. The information was obtained from assessment reports submitted to the B.C. government and publicly available company reports.

The qualified person has not completed sufficient work to verify the historical information on the property.

About Belmont Resources Inc.

The company is systematically exploring and acquiring gold properties in Southern British Columbia and northern Washington State.

We seek Safe Harbor.