Belmont reports Drilling to Re-commence in November on Kibby Property; Assays Define 139 ft. Intersection Averaging 393 ppm from Drill Hole (KB-3) completed in August at Kibby Basin, Nevada Lithium Project; Belmont to Exhibit at Edelmetall & Rohstoffmesse “Gold Show” in Munich,

BELMONT RESOURCES INC.

#600 – 625 Howe Street, Vancouver, B.C. V6C 2T6

Ph: (604) 683-6648 Fax: (604) 683-1350 E-Mail: [email protected]

Belmont reports Drilling to Re-commence in November on Kibby Property;

Assays Define 139 ft. Intersection Averaging 393 ppm from Drill Hole (KB-3)

completed in August at Kibby Basin, Nevada Lithium Project;

Belmont to Exhibit at Edelmetall & Rohstoffmesse “Gold Show” in Munich,

Germany - November 9 & 10th.

Vancouver, B.C. Canada , November 1, 2018; (“Belmont Resources Inc. (“Belmont” or the

“Company”) (TSX.V:BEA; FSE: L3L1; DTC Eligible – CUSIP 080499403).

Kibby Basin – Plans are Underway for November Drilling Start

Belmont continues with Harris Exploration Drilling and Associates of San Diego , California to

undertake further exploration drilling at Belmont’s Kibby property . Exploration will include

down-hole geophysical survey s in conjunction with drilling, in order to identify lithium brine

prospective permeable and conductive zones above and within the conductive anomaly identified

by Quantec’s MT survey from Feb ruary, 2018 (see Belmont N ews Release March 1, 2018 ).

Using geophysical survey results concurrent with drilling is intended to allow Belmont’s crew to

obtain groundwater samples that are representative of the layers of interest. As with previous

drilling, sediment samples will be collected and logged throughout the advancement of the holes.

Kibby Basin – Additional Assay Results below 1270 feet

Previous news release (September 12, 2018) described assays from samples between 970’ and

1210’ (240’ thickness) that contained an average of 390 ppm lithium.

On September 28 th we reported 20 samples which exceeded 100 ppm Li with seven (7) samples

assaying greater than 375 ppm, and up to 580 ppm Li at 1791 feet.

Belmont has received the results of the remaining 59 core samples from the lower section of drill

hole KB-3. The results are further encouraging, as follows (Table 1):

Assay results from ALS Canada of North Vancouver, B .C., show consistently high levels of

lithium in the core between 1270 feet and the bottom of the hole at 179 8 feet including a 139 -

foot intersect ion between 1389 and 1528 feet that had a weighted average of 393 ppm

lithium (Table 1 ). Of the additional 59 samples tested , 6 were above 500 ppm, and 41 were

above 300 ppm.

Table 1: Anomalous Core Section - Chart of Samples Tested Between 1389 and 1528

Feet, with Thickness and Lithium Concentrations

From

(ft) To (ft) Thickness (ft) Li (ppm)

1389 1403 14

440

1403 1406 3

386

1406 1408 2

480

1408 1411 3

560

1411 1412 1

52

1412 1412.3 0.3

13

1412.3 1413 0.7

460

1413 1414.5 1.5

226

1414.5 1418 3.5

500

1418 1428 10

530

1428 1434 6

390

1434 1438 4

418

1438 1440 2

480

1441.8 1442 0.2

34

1442 1448 6

530

1448 1452 4

440

1452 1454.5 2.5

375

1454.5 1458 3.5

490

1458 1468 10

520

1468 1478 10

470

1478 1485 7

450

1485 1490 5

10

1490.5 1492.5 2

408

1492.5 1498 5.5

460

1498 1508 10

510

1508 1518 10

480

1518 1528 10 420

Weighted Average (ppm) Li 393

Note: no recovery 1440-1441.8 ft.

The Kibby Basin shares many characteristics with Clayton Valley, where lithium brines are

being exploited, including: closed structural basin, large conductor at depth, lithium anomalies at

surface and depth, evidence of a geothermal system, and potential aquifers in porous ash and

gravel zones.

Belmont Resources Inc. is engaged in an option agreement with MGX Minerals Inc. (CSE:

XMG) to carry out assessment and development of the Kibby Basin Property. MGX has until

December 31, 2018 to earn another 25% (total 50%) interest with the goal of forming a 50/50

Joint Venture (the “Joint Venture”) to utilize MGX’s rapid lithium extraction technology.

NI 43-101 Disclosure

Robert (“Bob”) G. Cuffney, Certified Professional Geologist, a Qualified Person as defined by

National Instrument 43 -101, has reviewed and approved the technical information in this news

release.

Upcoming Exhibition

Mr. Gary Musil, CFO/Director of Belmont will be joining Zimtu Capital Corp. (TSX.V: ZC)

along with several other Zimtu associated companies showcasing the Company for two days at

the International Precious Metals & Commodities (Edelmetall & Rohstof fmesse) Show in

Munich, Germany – November 9th & 10th, 2018.

We invite you to join us at the above conference.

For additional show information click the following link:

https://www.edelmetallmesse.com/index.php?lang=en

About Belmont Resources Inc.

Belmont is an emerging resource company engaged in the acquisition, exploration and

development of mineral properties in Canada and Nevada, U.S.A.

For further information see our Website at: www.BelmontResources.com

-Facebook https://www.facebook.com/Nevadalithium/

-Twitter https://twitter.com/Belmont_Res

On March 30, 2016; the Company acquired sixteen placer (16) mining claims, representing 1036 hectares (2,560

acres) in Esmeralda County, Nevada, U.S.A. The Kibby Basin property is located 65 km north of Clayton Valley,

Nevada-U.S.A. The Company believes the property to be highly prospective to host lithium. Subsequent ground

geophysics & gravity surveys, surface sampling and a two hole - 2046 ft. diamond drill program have confirmed the

presence of lithium on Kibby.

In June 2018 ; the Company has updated its land position staking, and now holds 126 x 20 acre additional placer

mineral claims totaling approx. 1,020 hectares ( 2,520 acres) , adjoining the Kibby 16, for a total Kibby Basin land

position (the “Property”) to 2,056 hectares (5,080 acres).

In 50/50 ownership with International Montoro Resources Inc., Belmont has acquired and is exploring joint venture

opportunities for its two significant uranium properties (Crackingstone -982 ha & Orbit Lake – 11,109 ha) in th e

Uranium City District in Northern Saskatchewan, Canada

ON BEHALF OF THE BOARD OF DIRECTORS

“James H. Place”

James H. Place

CEO/President

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 a nd 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 fulfill ed and we may not be able to

organize and carry out an exploration program in 2016; 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 assum es 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Vent ure Exchange) accepts responsibility

for the adequacy or accuracy of this news release.