URANIUM PROJECTS EXPLORATION UPDATES

Belmont Resources Inc. (TSX.V-BEA) is pleased to provide an update on activities for its portfolio of uranium projects located in prolific uranium districts in Canada. The Company currently has four uranium projects at various stages of exploration, and continues to make progress through joint venture and independent work activity. It is expected that the Company will commence drill programs in 2007 and will continue to identify quality uranium projects for potential acquisition.

Stormy Lake (26.5 sq.km), and Partridge River (5.75 sq.km.) Uranium Projects, Central Mineral Belt, Labrador

These projects are currently part of a joint venture agreement with Crosshair Exploration (CXX on TSX.V) whereby Crosshair has the option to earn up to a 75% interest in both projects by spending $800,000 over a period of 3 years. Crosshair has assembled a geological team and will be performing preliminary exploration work shortly with the intention of sending off samples for analysis prior to August 30, 2007.

Crackingstone Uranium Project (750 ha), Uranium City, Athabasca Basin, Saskatchewan

Belmont and partner International Montoro (IMT on TSX.V) will be mobilizing a crew to begin surface exploration, trenching, further sampling of high grade areas and cutting of drill pads in anticipation of drill program to commence in third quarter 2007.

Orbit Lake Uranium Project (11,109 ha), Uranium City, Athabasca Basin, Saskatchewan

This project is currently part of a joint venture agreement with Ultra Uranium (ULU on TSX.V) whereby Ultra has the option to earn up to a 65% interest in this project by spending $2,000,000 over a period of three years. Ultra and the joint venture partners intend to commence a 1250 km airborne magnetic and VTEM survey over the property in 2007.

Wollaston/ Reindeer Lake (51,395 ha), south east of Athabasca Basin, Saskatchewan

This project is currently part of a joint venture agreement with McCallan Oil and Gas U.K. whereby McCallan has the option to earn up to a 60% interest in this project by spending $2,000,000 over a period of three years. The company and McCallan expect to launch its summer exploration program as soon as the technical report is completed and the recommendations are reviewed. The Company’s consulting geologist Ray Bernatchez has gone to the Wollaston/ Reindeer Lake to take samples of outcrops in preparing for the 43-101 technical report.