NEW URANIUM PROPERTY - 78,525 HECTARES STAKED EAST OF THE ATHABASCA BASIN WITHIN THE WOLLASTON DOMAIN, SASKATCHEWAN

Belmont Resources Inc. (the “Company”) is pleased to announce the completion of staking of 14 contiguous claims. 9 claims totaling 51,395 ha have been receipted. and 5 additional claims in the same area, totaling 27,130 ha.are awaiting acceptance. The staked claim block is located 50 kilometers east of the Athabasca Basin, Saskatchewan, within the Wollaston and Peter Lake Domain. More precisely, the area is commonly known as the Compulsion Bay-Reindeer Lake area, 160 km east-northeast of the Key Lake Mine, 110 km east of McArthur River (457 million lb. U308 deposit), and 90 km east southeast of Cigar Lake (232 million lb. U308 deposit). The claims are accessible via helicopter, 80 km north from Southend and 25 km south from Wollaston Lake, Saskatchewan. The west boundary of the property is located approximately 40 km east of the gravel road going from Southend to Stony Rapids, Saskatchewan.

The Company will be commissioning Raymond A. Bernatchez, P. Eng. to write a NI 43-101, Technical Report as soon as the property can be accessed for further prospecting and sampling. The Company is considering joint venture partnerships to explore and advance these claims.

The Athabasca Basin occupies an area of about 100,000 sq km in northern Saskatchewan and accounts for approximately 30% of global primary uranium production. This uranium property further complements the Company’s uranium projects located in the Northwest Athabasca Basin near Uranium City, Saskatchewan and the Central Mineral Belt of Labrador , and continues its business strategy of becoming a prominent uranium development Company.

The area was staked based on strong radiometric anomalies identified in airborne surveys in a joint survey carried out by the Saskatchewan Industry & Resources/Natural Resources Canada (Geophysical Series-64-E-Compulsion Bay). The property straddles along the northeast trending contact between the Wollaston East Domain and the Peter Lake Domain. The Needle Falls Shear Zone follows a northeasterly trend along this contact and through the property.

The geology of the property is underlain with older (3.2-2.5 Ga) felsic granitoid rocks overlain by significant amount of 2.5 to 1.83 Ga metasedimentary rocks. These rocks were later intruded by 1.92-1.77 Ga felsic granitoid and migmatite rocks of the Wollaston Group. The sedimentary rocks consist of calc-silicate gneiss, marble, amphibolite, meta-arkose, fine to medium, massive to foliated, to locally layered gneiss, consisting of biotite, hornblende, diopside, muscovite, sillimanite, garnet, cordierite, magnetite, pyrite, interlayered with meta-quartzite, pelite and graphitic schist. Similarily, the Eagle Point and Rabbit Lake Uranium deposits are located within Early Proterozoic intermediate-felsic paragneiss, calc-silicate, meta quartzite and graphitic paragneiss of the Wollaston Domain.

Four periods of exploration from 1963 to 1970, 1976 to 1979, 1981 to 1986 and 1995 to 1996 in the area NTS 64-E, were successful in discovering numerous base metal (Zn-Pb-Cu-Ag) showings. This exploration was also successful in discovering uranium mineralization. However the main exploration efforts were placed on base metals. Most of the work was of a preliminary nature.

The uranium mineralization is contained in a variety of host rocks, such as in pegmatites, silicified meta-sediments, fault related shear zones, granite gneiss, quartz-biotite paragneiss and graphitic pelitic schist. Uranium mineralization appears to be structurally controlled within the basement rocks in this area. The Needle Falls Shear Zone and the Tabburnor Structural Shear System intersects each other in the central portion of the property.

The geology and structure is similar to that reported on JNR Resources Inc. nearby Yurchison, Way, and Pendleton Lake properties. Maps allowing a view of the newly staked property will be available shortly on the website.

This news release was reviewed and approved for technical disclosure by Raymond A. Bernatchez, P.Eng., Consulting Geologist of Atikokan, Ontario, an independent qualified person.