Belmont Announces Election of Directors and AGM Results

VANCOUVER, BC / ACCESSWIRE / August 4, 2020 / Belmont Resources Inc. ("Belmont"), (or the "Company"), (TSXV:BEA)(FSE:L3L1)(DTC Eligible - CUSIP 080499502 -new).

Annual General Meeting Results;

Belmont Resources Inc. (TSX-V: BEA) is pleased to announce that the nominees listed in the management Information Circular for the 2020 Annual General Meeting of Shareholders (the "AGM") held on July 30, 2020 were elected as directors of the Company. The shareholders re-elected James H. Place, Gary Musil, and Vojtech Agyagos, and newly elected George Sookochoff and Laurence Sookochoff for the upcoming year.

The scrutineer reported that there were a total of 24 shareholders holding 2,766,169 common shares represented in person or by proxy at the meeting. This represented 11.45% of the total 24,162.155 issued and outstanding at record date. Detailed results of the vote for the election of directors are set out below:

Other resolutions submitted by management to shareholders for consideration were approved as presented, including the approval of the Company's Stock Option Plan as summarized in the Information Circular (98.90% For; 1.10% Against). Approval of the re-appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as auditors for the ensuing year, and authorized the Directors to fix their remuneration (99.93% For; 0.07% Withheld).

George Sookochoff joined the Board of Directors in October 2019 and was appointed President & CEO in November 2019.

The Company would like to welcome a new Director - Laurence Sookochoff, P.Eng.

Laurence has had over 50 years of experience in the mining and mineral exploration industry. He has authored well over 1,400 reports and was a founding director of many companies including Corona Resources Ltd. which was instrumental in the discovery of the Hemlo gold deposit in 1982. The Hemlo discovery was the most significant gold discovery in North America and was in production as the David Bell Mine from 1982 to 2013 having produced over four million ounces of gold.

Having been born and raised in Grand Forks and having consulted and written numerous reports for junior mining companies with projects in this area Laurence brings a wealth of experience to Belmont Resources Ltd. in Belmont's acquisition of mineral properties in the historic Phoenix Mining Camp located between Grand Forks and Greenwood in the southern interior of British Columbia.

He worked at the Phoenix Mine when Granby operated the Phoenix Mine from 1959 to 1976. He was the supervisor of the diamond drilling and drift development at the adjacent Golden Crown Mine, in addition to the supervision of an exploration program at the recent Belmont acquisition of the Pathfinder Property.

Laurence commented "I look forward joining the Belmont Board and returning to the prolific Greenwood mining camp as I strongly believe, along with Belmont management, that this area has significant potential for the discovery of deep seated copper gold porphyry deposits".

At the Directors Meeting following the AGM; the directors appointed George Sookochoff as President/Chief Executive Officer & Chairman, and Gary Musil as Corporate Secretary/Chief Financial Officer. The Audit Committee appointees are: Gary Musil, Vojtech Agyagos & Laurence Sookochoff.

The Board of Directors would like to thank the Company's shareholders for their continued support throughout the past year, and a looking forward to a very active exploration season in the Greenwood Gold Camp.

About Belmont Resources Inc.

Belmont Resources Inc. is a Canadian based resource company traded on the TSX-V under the symbol "BEA". The Company is systematically evaluating and acquiring gold properties in Southern British Columbia and Northern Washington State.

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.