Belmont Announces Completion of First Drill Program at Come By Chance

Vancouver, B.C. Canada, April 27, 2022; Belmont Resources Inc. ("Belmont"), (or the "Company"), (TSX.V: BEA; FSE: L3L2) is pleased to announce that the first drill program at its 100% owned Cu-Au Come By Chance (CBC) Property located in southern B.C has been completed. A total of 1,970 metres were drilled in 6 holes. Core logging, geotechnical work, and sampling are ongoing and assays from the drill program will be released when they are received, expected to be in four to six weeks.

George Sookochoff, President and CEO commented: "We are excited to have successfully completed Phase I of our maiden drill program on our CBC project. The upcoming assay results will provide us with valuable feedback in regards to determining the correct geophysical signatures and geology which best correlate to mineralization for Phase II drilling at Eagle and Hardy Mountain zones."

2022 Drilling Program

The Phase I program tested three initial zones; Betts, Iron Chief and Lady M. for skarn/epithermal potential along the NW-SE trending Eagle Fault. The first holes targeted the known Betts zone at depth, with subsequent holes targeting various magnetic, chargeability, and resistivity anomalies. The targets were traced to surface sampling where possible.

Come By Chance 2022 Phase I Drilling

About the Come By Chance Project

The Come By Chance (CBC) property is situated in the Greenwood mining camp, considered to be one of the highest concentrated areas of past producing mines in North America

Although the Phoenix mine was the major producer, some of the smaller mines were also productive from a number of different types of deposits. From 1900 to 1975 production from these 26 principal mines was produced over 600 million pounds of copper and 1.4 million ounces of gold (Church, 1986).

The CBC Property, located three kilometres to the southeast of the Phoenix deposits, is on a comparative geological trend and hosting skarn, epithermal, volcanogenic, and massive sulphide mineralization.

The property contains mineralized skarns and epithermal zones, which are potentially associated with a concealed porphyry intrusive of copper/gold mineralization.

2020 and 2021 geophysical surveys further support the potential for discovering a deep‐seated copper/gold porphyritic, bulk tonnage, mineral resource.

About Belmont Resources

Belmont Resources has assembled a portfolio of highly prospective copper-gold-lithium & uranium projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include the Come By Chance (CBC), Athelstan-Jackpot (AJ) and Pathfinder situated in the prolific Greenwood mining camp in southern British Columbia. The Crackingstone Uranium project in the uranium rich Athabaska Basin of northern Saskatchewan. The Lone Star copper-gold mine in the mineral rich Republic mining camp of north central Washington State. The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin.

Kibby Basin Conductive Anomaly - Drill Target

NI 43-101 Disclosure:

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and has been reviewed and approved by Laurence Sookochoff, P.Eng. Mr. Sookochoff is a Director of Belmont Resources Inc.