BEA Belmont Resources Inc

Belmont Resources Inc. ("Belmont", the "Company") (TSX
VENTURE:BEA)(PINKSHEETS:BEAAF)(FRANKFURT:L3L) announces that is has entered into
an agreement with EuroGas Inc. in respect of EuroGas' International Arbitration
against the Slovak Republic in connection with the soapstone talc mineral
deposit located near Gemerska Poloma, Slovak Republic. 


The Company has agreed to provide a Power of Attorney to a law firm located in
Paris, France which is acting on behalf of both Belmont and EuroGas Inc. in
filing an action for damages against the Slovak Federal Republic in the amount
of up to 1.65 billion US dollars before an International Arbitration Court
within the scope of the investor protection program provided by a Bilateral
Investment Treaty (BIT) between the United States of America and the Czech and
Slovak Federal Republic, which claimed amount is reported by Eurogas Inc. in its
news releases. The agreement with EuroGas Inc. also stipulates that Belmont will
not be responsible for any expenses, legal fees, or disbursements with respect
to the lawsuit, and that the Company would be entitled to receive from EuroGas
3.5% of any award or settlement from the lawsuit subject only to legal fees and
financing charges incurred by EuroGas in the Arbitration. The parties have also
agreed that subject to TSX Venture Exchange ("TSXV") approval, Belmont shall
grant to EuroGas 1,400,000 share purchase warrants (the "Warrants" and each, a
"Warrant") whereby upon the occurrence of both: i) an award or settlement in
favour of EuroGas in relation to the ICSID Arbitration; and ii) Belmont's
entitlement to a portion of the award or settlement being received in its
Canadian bank account, each Warrant may be exercised for the purchase of one
common share in the capital stock of Belmont at a price of $0.12 per share for a
period of two years from the date of grant.


Further information can be found on the Company's website at
www.BelmontResources.com and on www.Sedar.com, or by phoning 604-683-6648.


ON BEHALF OF THE BOARD OF DIRECTORS

Vojtech Agyagos, President and CEO, Director

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Belmont Resources Inc.
(604) 683-6648
(604) 683-1350 (FAX)
belmontr@telus.net
www.BelmontResources.com

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