Belmont Resources Inc. announced that it has entered into subscription agreements to issue 7,000,000 common shares at an issue price of CAD 0.06 for the gross proceeds of CAD 420,000 on July 18, 2023. The transaction will include participation from new investors Commodities and Resources Pte.Ltd of Singapore and ERAG Energie & Rohstoff AG PCC of Liechtenstein. Closing of the Private Placement is anticipated to occur on or around July 24, 2023, and is subject to certain customary conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX.V Exchange.

The Common Shares issued pursuant to the Private Placement will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. There are no share purchase warrants attached to the offering nor are there any finder?s fees payable.