DRILLING UPDATE ON SOUTHERN BLOCK, WALSH LAKE/BATEMAN TOWNSHIP-RED LAKE

Further to our news release of April 6/04, Belmont Resources Inc. (“BEO”) and Montoro Resources Inc. (“MNQ”) are pleased to announce the completion of three drill holes on its Walsh Lake, Bateman Township property, Red Lake Mining Division. This claim block is bordered on the west and south side by Rubicon/Goldcorp.

The drilling (Holes BWL-04-01, -02, &-03) totalled 534 metres, and was targeted from the earlier completed detailed ground geophysical surveys (magnetic and VLF-em). Drill holes, significant mineralization and alteration are summarized below:

Hole BWL-04-01: Depth – 195 metres
This hole encountered approximately 101 meters of altered and mineralized mafic volcanic rocks. The remaining rock types consisted of granites and feldspar porphyry. The altered volcanic rocks were mineralized with pyrrhotite, pyrite, chalcopyrite and sphalerite. Alteration consisted of silicification, chloritization, sericitization in a skarn environment. Fe carbonate, calcite and/or calcite-quartz veining were also present. (Assay results pending)

Hole BWL-04-02: Depth – 153 metres
No significant mineralization was encountered.

Hole BWL-04-03: Depth – 186 metres
Sections of silicifed, foliated and mineralized granite rocks were encountered in this hole. Four samples totalling 3.3 meters were cut and sampled from this hole and sent for gold analysis. (Assay results pending)

63 samples (59 from BWL-04-01 and 4 from BWL-04-03) totalling 55 metres of core were taken for gold assay and multi element analysis. Core samples were cut by diamond saw, bagged and sent for preparation to ALS Chemex in Thunder Bay, Ontario to be forwarded to ALS Chemex in Vancouver, B.C. for fire assay with A.A. finish for the gold and analysis by ICP for an additional 30 elements. Based on the visual observation of sulphides in Hole BWL-04-01, Belmont/Montoro have staked an additional 3 claim blocks (48 units-approx. 768 hectares) along strike to the east and northeast of the drilling area.

The above information was provided by our independent project supervisor, Raymond A. Bernatchez, P.Eng. of Atikokan, Ontario. Mr. Bernatchez is an accredited Professional Engineer and a member Canadian Institute of Mining and Metallurgy.