Phoenix Metals’ NI 43-101-Supported 2026 Program Totals 148 Holes/55,285 m, With Drilling Adjacent to Both Belmont’s A-J Gold and Lone Star Properties

Vancouver, British Columbia – September 22 2026 – Belmont Resources Inc. (TSX-V: BEA) (FSE: L3L2) (“Belmont” or the “Company”) is pleased to note the recent developments at Phoenix Metals Corp. (TSX: PCA) (“Phoenix”), 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%-owned by Belmont, and the Lone Star Copper-Gold Project, held 50% by Belmont in joint venture with Marquee Resources Ltd. (ASX: MQR).

Figure 1: Regional Overview of Belmont’s A-J Gold, CBC Copper-Gold, Pride of the West, and Lone Star Properties Relative to Phoenix Metals’ Property, Greenwood Mining Camp, Southern British Columbia
Source: Belmont Resources Inc., compiled from Company claim maps and Phoenix Metals Corp. public disclosure.

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’ over-allotment 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 oz 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.

Figure 2: Belmont’s A-J Gold, Pride of the West, and CBC Copper-Gold Properties Relative to Phoenix Metals’ Property, Golden Crown Mining Camp, Southern British Columbia
Source: Belmont Resources Inc., compiled from Company claim maps and Phoenix Metals Corp. public disclosure.

Figure 3: Phoenix Metals’ Lexington Drill Program (3,835 m, 12 Holes) Along the No. 7 Fault Trend, Immediately North of Belmont’s Lone Star Property Across the BC–Washington State Border
Source: Belmont Resources Inc., compiled from Company claim maps and Phoenix Metals Corp. NI 43-101 Technical Report (P&E Mining Consultants Inc., Report No. 490, Section 26.1.6).

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 NI 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, P.Eng. Technical Advisor of the Company, who is a Qualified Person as defined by NI 43-101.

About Belmont Resources Inc.

Belmont Resources (TSX-V: BEA; FSE: L3L2) is a Canadian resource company focused on advancing a diversified portfolio of discovery-stage assets including Crackingstone (Uranium–REE, SK), Come By Chance (Copper-Gold Porphyry/CRD, BC), Athelstan-Jackpot (Gold, BC), Kibby (Lithium, Nevada), and Lone Star (Copper-Gold, Washington).

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, Chairman

604-505-4061
www.belmontresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements that are based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. Forward-looking statements include, but are not limited to, the proposed work programs at Limousine Butte, the exploration potential at Limousine Butte, the expansion of the recently announced MRE at Limo Butte, and future potential project milestones such as the potential Preliminary Economic Assessment (“PEA”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, general economic, market and business conditions, and the ability to obtain all necessary regulatory approvals. There is some risk that the forward-looking statements will not prove to be accurate, that the management’s assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.