UPDATE ON LARDER LAKE – BEATTY TOWNSHIP - DRILLING

Further to our March 17/04 news release Belmont Resources Inc. (“BEO”) is pleased to report that drilling is progressing on its claim holdings in Beatty Township; near Matheson, Ontario.

The drilling of five holes (totalling an est. 580 metres) was targeted from the earlier completed detailed ground geophysical surveys (Magnetic, VLF-em and MaxMin II). Four holes have been completed to date. Drill hole detail, significant mineralization and alteration will be reported as the information is released from our onsite independent project supervisor, Peter Caldbick, P.Geo of Timmins, Ontario.

The Company is also monitoring other exploration activity in the area. The area has seen a new resurgence in gold exploration due to recent discoveries in Munro Township, which adjoins Beatty to the east. Within the Beatty / Munro Township region there are numerous gold occurrences, including several past producers and two current producing mines. The recently acquired property by Big Red Diamond Corp. (“DIA” – TSX Venture Exchange) - formerly explored by Tom Exploration Inc., which is on strike to the east from the Belmont claims, hosts 10 new gold occurrences discovered over a 6 km strike length. Values for grab samples from these occurrences ranged from 2.49 to a very impressive 2500 g/t. The nearby Croesus Mine (a past producer) had an average grade of 2.78 oz/ton. Two current producing gold mines, the Holt-McDermott (Barrick) and Harker Holloway (Newmont) gold Mines, and a past producer the Glimmer Mine (Apollo Gold), are also located in the area.