Mr. George Sookochoff reports

BELMONT RESOURCES WELCOMES WELL-FUNDED NEW NEIGHBOUR PHOENIX METALS CORP. TO THE GREENWOOD GOLD CAMP

Belmont Resources Inc. has noted the recent developments at Phoenix Metals Corp. (Toronto Stock Exchange: PCA), whose Greenwood precious metals project claims are directly adjacent to two of Belmont's properties in the Greenwood mining camp of Southern British Columbia: the Athelstan-Jackpot (A-J) gold property, 100 per cent owned by Belmont and the Lone Star copper-gold project, held 50 per cent by Belmont in joint venture with Marquee Resources Ltd. (Australian Securities Exchange: MQR).

According to Phoenix's NI 43-101 technical report on the Greenwood precious metals project (P&E Mining Consultants Inc., report No. 490), Phoenix's 2026 recommended exploration program totals 148 drill holes and 55,285 metres across seven targets within the Greenwood precious metals project. Of this, 27,827 metres across 67 drill holes are planned along the JD-Golden Crown trend, JD Deep and Golden Crown Deep targets -- directly adjacent to the boundary of Belmont's A-J gold property near the historic Golden Crown underground mine (Section 26.1.4) -- and 3,835 metres across 12 drill holes are planned at the Lexington target along the No. 7 fault trend (Section 26.1.6), which lies in British Columbia immediately north of the international border, directly across from Belmont's Lone Star property on the Washington state side. Phoenix closed its initial public offering on July 9, 2026, and on July 24, 2026, announced partial exercise of the underwriters' overallotment option, bringing aggregate gross proceeds from the offering to $46,402,625.

"We're pleased to see a well-capitalized neighbour committing this level of exploration investment along strike from two of our properties in the Greenwood camp," said George Sookochoff, chairman of Belmont. "Both the Golden Crown trend adjacent to our A-J property and the No. 7 fault trend adjacent to our Lone Star property have a history of high-grade production, and we look forward to Phoenix's exploration results as they become available."

Belmont's A-J gold property hosts two past-producing gold mines (the Athelstan and Jackpot), with historical production of 7,600 ounces gold and 9,000 oz silver, and lies within the same Greenwood camp as Belmont's Pride of the West and CBC copper-gold properties. Belmont's Lone Star property, held in joint venture with Marquee Resources Ltd., hosts a historical mineral resource along the Washington state portion of the No. 7 fault system.

Belmont has no ownership interest in, or operational involvement with, Phoenix's Greenwood precious metals project. Information regarding Phoenix's property, financing and exploration plans in this release has been derived solely from Phoenix's public disclosure, including its National Instrument 43-101 technical report (report No. 490), and has not been independently verified by Belmont. Belmont makes no representation as to the accuracy of such information, and readers should refer to Phoenix's own filings for complete details.

NI 43-101 disclosure

The technical and scientific information in this news release has been reviewed and approved by Laurence Sookochoff, PEng, technical adviser of the company, who is a qualified person as defined by NI 43-101

About Belmont Resources Inc.

Belmont Resources is a Canadian junior mineral exploration company listed on the TSX Venture Exchange (TSX-V: BEA) and Frankfurt Stock Exchange (FSE: L3L2). The company's portfolio includes the Athelstan-Jackpot gold-silver property, the Pride of the West property and the Come By Chance copper-gold project in British Columbia, the Crackingstone uranium-REE project in Saskatchewan, the Lone Star copper-gold project in Washington state (50/50 JV with Marquee Resources Ltd.), and the Kibby basin lithium project in Nevada.

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