Vancouver, B.C. Canada, November 9, 2021; Belmont Resources Inc. (“Belmont”), (or the “Company”), (TSX.V: BEA; FSE: L3L2) is pleased to announce the appointment of Mr. Geoffrey D.G. Peretz to the Company’s Board of Directors.

Mr. Peretz is a senior Investment Industry professional with over thirty-five years of market related experience. Through his Private Equity/Investment Banking firm, Camelot Capital Corporation, he has founded, co-founded or been an angel investor in some of Canada’s most successful start-ups. A number of these have gone to market capitalizations of over $1b CDN. He brings to the company extensive experience in Corporate Finance, Corporate Structure, Corporate Governance & Financial Controls.

Mr. Peretz founded Canaco Resources in 2003 and the company was named the top performing stock on the Toronto Stock Exchange in 2010. Today the company has been divided along geographic lines into East Africa Metals (TSX-V: EAM) which holds assets in Tanzania and Ethiopia, and Orca Gold (TSX-V: ORC) holding the assets in the Sudan. The Ethopian properties are currently in production.

Mr. Vojtech (Billy) Agyagos is stepping down from the Board at this time. Vojtech was the former CEO/President for 21 years until his retirement in 2018 and a director since December 1996.  He has contributed significantly to the Company during his tenure and helped advance a number of projects in both Canada and Eastern Europe.  The Board of Directors wish to express their thanks to Mr. Agyagos for his service to the Company.

The Company also announces that it has granted 600,000 incentive stock options to certain directors and consultants of the Company in accordance with the Company’s current stock option plan. Each option is exercisable into one common share of the Company at a price of $0.10 per share for a period of five years from the date of grant.

About Belmont Resources Inc.

Belmont Resources is engaged in the business of acquiring and re-developing past producing copper-gold-silver mines in southern British Columbia and Northern Washington State. This region is considered to have the highest concentration of mineralization and past producing mines in western North America. By utilizing new exploration technology, geological modelling and specialized 3D data analysis, the company is successfully identifying new areas of mineralization beneath and/or in the near vicinity of the past producing mines

The Company’s project portfolio includes 6 past producing mines:

  • Athelstan-Jackpot, B.C. – *Gold-Silver mines
    Belmont Resources Properties

    Belmont Resources Properties

  • Come By Chance, B.C. – * Copper-Gold mine
  • Lone Star, Washington – *Copper-Gold mine
  • Pathfinder, B.C. – * Gold–Silver mine
  • Black Bear, B.C. – Gold
  • Pride of the West, B.C.- Gold
  • Kibby Basin, Nevada – Lithium
    * past producing mine

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Ph: 604-505-4061

Email: george@belmontresources.com

Website: www.BelmontResources.com

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