Belmont Receives 3DIP Survey Results on A-J Lode Gold Project, Greenwood Mining Camp, Southern British Columbia.

VANCOUVER, BC / ACCESSWIRE / November 12, 2020 / Belmont Resources Ltd. (TSXV:BEA)(FRA:L3L2) is pleased to report that it has received results from SJ Geophysic's 3DIP survey on the Athelstan-Jackpot (A-J) gold project in the prolific Greenwood mining district of southern British Columbia.

The 3DIP data is currently being reviewed by Belmont's consulting geophysicist Sergio Espenoza, PhD. along with consulting geologist Linda Caron, M.Sc., P.Eng.

The IP results are being correlated with detailed geological mapping on the property and the recently completed drone magnetic survey and will identify and prioritize drill targets. Belmont is currently awaiting approval of a 5 year work program permit application which will enable it to proceed with drilling scheduled for year-end or early 2021.

3DIP results are expected to be announced early next week.

The 3DIP survey covered primarily two mineralized gold zones.

East-West A-J Mineralized Gold Trend

A-J IP Survey Grid over Geology

This mineralized trend includes the two past producing Athelstan and Jackpot gold mines which collectively produced 7,000 ozs Au & 9,000 ozs Ag (Minfile 082ESE047). The two mines and at least 9 known gold mineralized zones extending over an approximate area of 240 by 1,000 metres are associated with listwanite. The A-J Group was one of the most productive gold mines in the area.

North-South Contact Mineralized Gold Trend

Listwanite-hosted gold-bearing massive sulfide mineralization occurs at the J-34 zone, 50 m east of a granodiorite intrusive contact which is interpreted to underlie the shallow north-dipping band of listwanite that hosts the near surface mineralization in this area.

In 2003, trenching was completed at the J-34 zone by a previous operator, with historic chip samples returning grades of 6.6 g/t Au over a 3.7 m true thickness in one area, and 1.9 g/t Au over 6.8 m true thickness in a second area.1

Listwanite

Known gold mineralization on the property is primarily hosted within listwanite. High-grade, coarse native lode gold in the North American Cordillera is characteristically found in quartz veins hosted by listwanite-altered, igneous ophiolitic crustal rocks in proximity to listwanite-altered ultramafic rocks.

Listwanite is directly associated with several multi-million ounce gold deposits in Atlin, Bralorne and Barkerville districts of British Columbia as well as the Motherlode District in California.

About Belmont Resources Inc.

Belmont Resources is engaged in acquiring and re-developing past producing gold-silver-copper mines located in the highly prospective Greenwood-Republic mining camps.

The Company's project portfolio includes:

• 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)

Qualified Person

Linda Caron, M.Sc., P.Eng. is the qualified person under National Instrument 43-101 who as reviewed and approved the technical content of this news release.

Belmont Property Map

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.

1 Caron, L., 2003. Assessment Report on the Athelstan-Jackpot Property, Trenching and Rock Sampling, for M. Hallauer and T. Hallauer. BC MEMPR Assessment Report 27302.

SOURCE: Belmont Resources Ltd.