Mr. George Sookochoff reports

LEADING GERMAN ENERGY AND COMMODITIES TRADING GROUP ACQUIRES MAJORITY CONTROL OF BELMONT RESOURCES

Belmont Resources Inc. has been notified that HMS Bergbau AG, a leading European energy and commodity trading group with global operations spanning coal, minerals, logistics and strategic resource supply, has acquired a total of 43.3 million common shares of the company from three existing shareholders, pursuant to private agreements, for total aggregate consideration of $1,737,940.

Specifically, HMS acquired: 18 million common shares from ERAG Energie & Rohstoff AG PCC at a price of 3.33 cents per share; 7.3 million common shares from LaVo Verwaltungsgesellschaft MBH at a price of 4.5 cents per share; and 18 million common shares from Commodities and Resources Pte. Ltd. at a price of 4.5 cents per share. ERAG and LaVo are joint actors in relation to HMS.

Immediately prior to the closing of these transactions, HMS held 24.2 million common shares while ERAG held 18 million common shares and LaVo held 7.3 million common shares, for combined holdings of 49.5 million common shares, representing approximately 37.1 per cent of the company's issued and outstanding common shares. C&R separately held 18 million common shares, representing approximately 13.6 per cent of the company's issued and outstanding common shares.

As a result of the completion of these transactions, HMS now holds 67.5 million common shares of the company, representing approximately 50.9 per cent of the company's issued and outstanding common shares. Following the transactions, none of ERAG, LaVo or C&R hold any common shares of the company.

The company has been advised that HMS acquired the common shares for business and investment purposes. HMS may, depending on market and other conditions, increase or decrease its beneficial ownership of or control or direction over the company's securities, whether in the open market, by privately negotiated agreements or otherwise.

About Belmont Resources Inc.

Belmont explores and develops resource projects in Western Canada and United States focused on uranium, copper, gold, lithium and critical metals. Its portfolio includes:

• Crackingstone uranium-rare-earth-element project (Saskatchewan);
• Athelstan-Jackpot gold project (British Columbia);
• Come By Chance copper-gold project (British Columbia);
• Lone Star copper-gold project (Washington State);
• Kibby Basin lithium (Nevada state).