BEATTY TOWNSHIP - LARDER LAKE UPDATE

Further to our May 12/04 news release Belmont Resources Inc. (“BEO”) is pleased to report that five holes comprising a total of 584 meters have been completed on its 100% owned claim holdings in Beatty Township; near Matheson, Ontario.

The five holes were specifically sited to intersect 3 disparate HLEM conductor axis. “Drill holes l and 2 were targeted upon a 400 meter long conductor to the north which displayed intrusive magnetic qualities. Drill hole 4 and 5 were targeted upon a 250 meter long conductor to the south east which was also strongly magnetic, and drill hole 3 was targeted upon a 125 meter long conductor to the south west which displayed qualities of magnetic depletion locally but represented a valid target based upon the style of alteration normally accompanying gold mineralization.” The geophysics evaluation was completed by Mr. John B. Boniwell, Geophysical Consultant, FGAC, B.Sc. of Excalibur International Consultants Ltd.

The preliminary results of the drill program are encouraging. Drill holes 1, 2, 4 and 5 all intersected mineralized alteration zones with widespread silicification and semi-massive concentrations locally of pyrrhotite and pyrite with minor chalcopyrite. It is believed that the lithologies encountered on the Beatty claims appear consistent with the Komatiitic-Tholeiitic volcanic succession which typifies the Kidd-Munro stratigraphic assemblage. A total of 161 samples have been split and shipped to Swastika Laboratories for fire assay analyses (on a 30 gm split) and multi-element ICP Analysis under the Aqua Regia Leach Package. Assays are pending.

The above information was provided by our independent project supervisor, Peter Caldbick, P.Geo. of Timmins, Ontario. The overall program is being managed by James Burns, B.Sc., P.Eng. of Timmins, Ontario; a qualified person under National Instrument 43-101.