BELMONT/MONTORO – NOTICE OF PROPERTY TRANSACTION – RED LAKE CAMP

Further to our news release of April 6, 2004 Belmont Resources Inc. (“BEO”) and Montoro Resources Inc. (“MNQ”) the Companies have received notification from their solicitor in Red Lake that the Transfer/Deed of Land has been completed as to 50% each in the 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 and north/northwest of claims being developed by Rubicon Minerals Corp., Goldcorp and Rubicon/Goldcorp Joint Ventures. The claims are located in Bateman Township, largely on land, not covered by the waters of East Bay of Red Lake and readily accessible by road.

The Companies have received a preliminary review conducted by John B. Boniwell, Geophysical Consultant of Excalibur International Consultants Ltd. who reports the following:

- “they fall in a sector of the camp where gold showings are rather numerous, although no showing as such is embraced by them so far as is known.”

- “aeromagnetics for the area suppose that the bedrock geology for the claims and hereabouts are composed of mafic volcanics interbedded with ultramafic flows. A major contact bearing NNE passes through the western third of the property”.

- “structurally there is evidence for a fairly major fault sub-parallel to the contact but lying some 500m to the east. So located, it lips the SE corner of the claims. Locally there is hint of an ENE-WSW lineament intersecting this break within the confines of the property”.

- “the chance of such interaction being the focus for gold mineralization is definitely worth pursuit, especially if it is shown that an ultramafic contact is involved”.

- “detailed geophysics is called for, employing magnetics and VLF on the ground occupying stations every 25m on traverses 50m apart”.

- “since the aerial extent of the claims is not large, a cross-grid can be contemplated. On the face of it, this should provide extra detail both of lithology and structure but also, and most specifically, of alteration”.

The Companies are preparing a budget for the above recommended work and expect to embark on the exploration as soon as possible.

For further information, review our website at www.belmont-resources.com Projects – Red Lake Properties - map; for the location of these recently acquired claims west of the two larger Belmont/Montoro J.V. claim blocks.