News Release dated: April 15, 2003

BELMONT ACQUIRES GOLD PROSPECT IN THE RED LAKE CAMP

Belmont Resources Inc. (“BEO”) is pleased to announce that the Company has entered into an Option Agreement whereby Belmont can earn a 100% interest in a gold prospect in the Red Lake Greenstone Belt, Ontario.

The property consists of 1 claim (16 units - approx. 640 acres) located in Bateman Township, adjacent to Rubicon-Anglo Gold joint venture properties, due east of Rubicon’s McFinley Gold Project and Goldcorp’s Abino Zone. Rubicon is advancing its key projects with important new discoveries and has attracted Anglo Gold, the world’s largest gold producer, as a partner in its Red Lake properties.

The Red Lake area is recognized as one of the richest gold camps in the world. The Red Lake Camp hosts two high-grade, world-class gold mines, including Placer Dome’s Campbell mine and Goldcorp’s phenomenally successful Red Lake Mine, where a new high-grade gold deposit has been recently discovered, 48 years after the mine first entered production. Red Lake is one of today’s most actively explored gold regions in North America, and has high potential to host several new world-class discoveries.

Belmont will have the right to acquire a 100% interest in the Bateman Twp. property by making cash payments totalling $20,000 in stages, issuing 200,000 shares and incurring $15,000 in exploration expenses by July 31, 2004. The property is also subject to a 2% NSR.

Belmont is Canadian exploration company with projects in northeastern Ontario (Tolmie and adjacent Townships – James Bay Lowlands – 15 claims – diamond prospects); (Beatty Township – Larder Lake – Timmins Camp – 4 claims – gold prospects); and now in northwestern Ontario (Bateman Township – Red Lake Camp – gold prospect).

ON BEHALF OF THE BOARD

Gary Musil,
Secretary/Director