Vancouver, B.C. Canada, January 7, 2022; Belmont Resources Inc. (“Belmont”), (or the “Company”),  (TSX.V: BEA;   FSE: L3L2)   Further to the Company’s news releases dated November 4, 2021 and November 26, 2021 with respect to the Option Agreements on the Lone Star – Washington and Kibby Basin – Nevada properties entered into with Marquee Resources Ltd. (ASX: MQR), this will clarify the finder’s fee agreement.  The Company has agreed, subject to regulatory approval, to issue an aggregate of 500,000 common shares at a deemed value of $0.06 as follows:

  • 283,333 common shares upon approval of the TSX; and
  • 216,667 common shares within six months of approval of the TSX.

The finder’s fee is related to the introduction of both the Lone Star project and the Kibby Basin projects to Marquee Resources Ltd. by the same arm’s length party.

The finder fee shares will be issued with the required regulatory hold period of four months +one day from issuance.

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:

Belmont Resources Properties

Belmont Resources Properties

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

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.