Belmont Cancels Zimtu Capital Digital Marketing Agreement

VANCOUVER, November 4, 2020 - Belmont Resources Ltd. ("Belmont"), (or the "Company"), (TSXV:BEA)(FSE: L3L2) reports that it has cancelled its digital marketing agreement with Zimtu Capital as announced in Belmont's October 6, 2020 news release.

The Company also reports that the complete private placement announced as per press release dated October 13, 2020 has been cancelled and the Company will not be proceeding and did not close as per press release dated October 14, 2020.

Belmont Properties Map

About Belmont Resources Inc.

Belmont Resources is a British Columbia based junior mining company engaged in the business of acquiring past producing gold-copper mineral properties located in the highly prospective Greenwood-Republic mining camps. Belmont is utilizing new exploration technology as well as new geological modelling to identify gold-copper mineralized feeder systems to the relatively shallow historic mines.

Belmont's recent acquisitions:

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

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 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 Ltd.