Belmont Resources Announces Granting of Incentive Options and Approves Management Agreement

VANCOUVER, BC / ACCESSWIRE / August 28, 2020 / Belmont Resources Inc (TSXV:BEA)(FRA:L3L2) ("Belmont"), (or the "Company) reports that it has granted a total of 1,800,000 incentive stock options under the Corporation's stock option plan to certain Directors, Officers, and Consultants of the Corporation. The options were granted at a deemed price of $0.06 and are exercisable until August 28, 2025. The incentive options are subject to a hold period of four months and a day from issuance.

The granting of options is subject to approval by the TSX Venture Exchange.

The Corporation also announces that the board of directors has approved the entering into a management agreement with George Sookochoff, doing business as Cankor Capital Inc. The management agreement can be viewed on SEDAR

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

"James H. Place"
James H. Place, P.Geo, Director

Ph: 604-683-6648
Email: office@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.

SOURCE: Belmont Resources Inc.