Belmont Completes 8-Hole Drill Program on Lumby/Bufo Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 17, 2011) - Belmont Resources Inc. (TSX VENTURE:BEA)(PINK SHEETS:BEAAF)(FRANKFURT:L3L) ("BEA") (the "Company"). Further to our news release dated February 3, 2011, announcing the results of the first three holes, the Company has now completed the final five holes of its 8 hole – 2443.8 meter winter drill program, on its Lumby/Bufo property. A total of 348 samples were taken from the first 3 holes for a total of 497.5 meters of sampling. A further 792 samples were taken from the next 5 holes BB-10-9 to BB-10-13, for a total of 1697.3 meters of sampling.

All samples have been delivered to Accurassay Labs in Thunder Bay for analysis. All samples are being analyzed for Au via fire assay + AA finish, Ag via AA, and for 34 multi-elements. Assay results will be released once they are all received and compiled.

Other

Further to our news release of November 15, 2010 the Company has terminated the Option Agreement with Dorex Minerals Inc. (TSX VENTURE:DOX) or ("Dorex") under which Dorex had an option to earn a 60% interest in the Lumby/Bufo property.

Dorex was unable to complete the terms of the Option Agreement required by December 15, 2010 and February 28, 2011.

About Belmont Resources Inc.

Belmont has recently entered into an option to acquire 100% interest in 3,040 ha. (23 contiguous mineral claims), known as the Lumby/Bufo property located approximately 35 km. northeast of the town of Atikokan and adjoining on strike to the north-northeast with the Osisko Mining Corp. (former Brett Resources Inc.) "Hammond Reef" deposit.

Belmont Resources Inc. has interests in uranium properties in developed and emerging uranium districts. Belmont (50/50) with International Montoro Resources Inc. has acquired two significant uranium properties (Crackingstone –982 ha & Orbit Lake –11,109 ha) in the Uranium City District in Northern Saskatchewan. The Company also holds interests (50/50 with Int. Montoro) in one rare earth mineral and one uranium claim block in the Central Mineral Belt in Labrador. 

Further information can be obtained from the Company website at www.BelmontResources.com and www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Gary Musil, CFO/Director

The statements used in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Companies forward-looking statements and expectations.