News Release dated: April 25, 2003

BELMONT COMPLETES PROPERTY ACQUISITION IN RED LAKE CAMP

Belmont Resources Inc. previously reported an Option agreement (April 15/03 News Release) whereby the Company agreed to acquire a 100% interest in a gold prospect in Bateman Township – Red Lake Greenstone Belt – Northwestern, Ontario. On April 22/03 the TSX Venture Exchange accepted for filing this agreement.

The Company has now completed this transaction with the vendor (Jaroslav Ruza). In consideration the Company will pay $20,000 cash in stages ($4,000 has been paid) and has issued 200,000 common shares to the Vendor. The shares are subject to a four-month hold period. The property is also subject to a 2% NSR.

The Company will be reviewing nearby exploration activity of Rubicon-Anglo Gold and will be commissioning a geological report for a recommended exploration program.

ON BEHALF OF THE BOARD

Gary Musil,
Secretary/Director