Belmont Receives Final TSX Venture Exchange Approval for $688,125 Private Placement

VANCOUVER, August 25, 2020 - Belmont Resources Inc. (TSXV:BEA)(Frankfurt:L3L2) ("Belmont"), (or the "Company) is pleased to announce that pursuant to the press release of the Company dated August 25, 2020, it has received final approval from the TSX Venture Exchange to close the previously announced non-brokered private placement financing of units for gross proceeds of $688,125.

About Belmont Resources Inc.

Belmont Resources is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties located in the highly prospective Greenwood-Republic mining camps. The Company has over a short period of time systematically acquired six past producing gold-silver and copper-gold mines.

• Athelstan & Jackpot Gold mines (Athelstan-Jackpot property - 100%)
• Bertha & Pathfinder Gold-Silver mines (Pathfinder property - 100%).
• Betts Copper-Gold mine (Come By Chance property - 100%)
• Lone Star Copper-Gold mine (Lone Star Property - LOI)

Click to view property map

ON BEHALF OF THE BOARD OF DIRECTORS

"George Sookochoff"

George Sookochoff, CEO/President
Ph: 604-683-6648
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.

This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Forward looking statements in this news release include statements about the possible raising of capital and exploration of our properties. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2020, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

SOURCE: Belmont Resources Inc.