News Release dated: February 26, 2003

BELMONT ACQUIRES GOLD PROSPECT IN TIMMINS MINING CAMP

Belmont Resources Inc. (“BEO”) is pleased to announce the signing of a Letter of Intent to acquire 100% interest in 17 claims (approx. 680 acres) in Beatty Township, Northeastern, Ontario (Larder Lake Division)

Subject to regulatory approvals, Belmont can acquire 100% interest in the property by making a $3,500 cash payment and issuing 250,000 common shares in the capital stock of Belmont. The property is subject to a two percent (2%) NSR.

The property is located in the Timmins – Kirkland Lake mining district within proximity to existing and past producing mines. Both Newmont’s Holloway Mine and Barrick’s Holt-McDermott Mine lie to the east along the same structural trend. Also, in the vicinity, and along trend, is Tom Exploration Inc.’s (TSX-“TUM”) – Lalonde gold property which has reported significant gold mineralization throughout its +10,000 – foot drilling program. Further details of Belmont’s property and location will be forthcoming.

ON BEHALF OF THE BOARD

Gary Musil,
Secretary/Director