News Release dated: July 24, 2002

BELMONT COMPLETES AGM

The Annual General Meeting of Belmont Resources Inc. ("BEO") was held in Vancouver, B.C. on July 23, 2002. In excess of 7,000,000 shares (32.8% of the issued and outstanding) were voted.

Six directors were re-elected including Vojtech Agyagos, Gary Musil, Kenneth B. Liebscher, Peter. E. Serck, Peter John and Jake Bottay.

All other resolutions proposed to the shareholders were also approved.

ON BEHALF OF THE BOARD

Gary Musil,
Secretary/Director