$450,000 PRIVATE PLACEMENT PROCEEDING

Belmont Resources Inc. (BEA-TSX.V) is pleased to announce it has arranged non-brokered Private Placements to raise up to $450,000 by the sale of 3,600,000 non flow-through units at $0.125 per unit. Each unit will consist of one common share and one full warrant entitling the holder to purchase one additional non flow-through common share of the Company at a price of $0.175 per share in the first year and $0.25 per share in the second year. Where applicable a finder’s fee in cash or units of the Company may be payable in connection with this financing, in accordance with the policies of the TSX Venture Exchange. The Company intends to utilize the proceeds of the private placement for general working capital, and exploration on its 50% owned North Athabasca Basin, Saskatchewan and Labrador Uranium properties.

All of the above is subject to TSX Venture Exchange acceptance.