BELMONT/MONTORO COMPLETES PROPERTY ACQUSITION IN RED LAKE CAMPBELMONT/MONTORO COMPLETES PROPERTY ACQUSITION IN RED LAKE CAMP

Belmont Resources Inc. (“BEO”) and Montoro Resources Inc. (“MNQ”) previously reported an Acquisition Agreement (March 22/04 News Release) whereby the companies agreed to acquire 100% interest in patented mineral claim rights covering an area of 21.5 hectares. The properties are strategically located approximately 3 km south/southwest of and along strike from the Wolfden/Placer Dome GAZ (Green Altered Zone) discovery. On March 25/04 the TSX Venture Exchange accepted for filing this agreement.

Belmont and Montoro have now completed this transaction with the vendors (Lawrence Shewchuk – 90%/Dan Patrie – 10%). In consideration the companies have paid $10,000 cash ($5,000 each) and have issued 200,000 treasury common shares (100,000 shares each) to the Vendors. The shares are subject to a four-month hold period expiring July 26/04.

SOUTHERN BLOCK – WALSH LAKE/BATEMAN TOWNSHIP – RED LAKE UPDATE

Further to our news release of February 13/04, Belmont and Montoro are pleased to announce that the preliminary geophysical interpretation for the southern property (16 units – 256 ha) has indicated at lease three drill hole targets clustered close to grid centre. These claims are bordered by Rubicon/Goldcorp along the west side. These holes totalling approx. 465 metres will provide some hard facts about the nature of the bedrock and its expectations of hosting gold mineralization.

The companies have been fortunate to contract St. Lambert Drilling Co. who was able to immediately mobilize and commence drilling on the weekend. The results from this drilling will be disseminated as soon as available.