Belmont receives Drill Permit for Crackingstone Uranium–REE Project, Saskatchewan

Press Release

Vancouver, British Columbia, December 2, 2025 — Belmont Resources Inc. (TSX-V: BEA; FSE: L3L2) (“Belmont” or the “Company”) is pleased to announce that it has received the drill permit (Crown Land Work Authorization, “CLWA”) from the Saskatchewan Ministry of Environment for its 100%-owned Crackingstone Uranium–REE Project in the Uranium City mining district. This multi-year authorization enables Belmont to advance drilling across multiple high-priority uranium and rare earth targets recently refined through comprehensive geological and geophysical work.The permit authorizes Belmont to carry out all activities outlined in its exploration proposal dated October 15, 2024, including:

• Up to 40 drill holes and drill pads
• Up to 2.5 km of new trail construction
• Up to 5 km of trail refurbishment
• Ground geophysical surveys and grassroots exploration

The authorization is issued under The Provincial Lands Act, Crown Resource Land Regulations, and the Environmental Management and Protection Act (EMPA). It is valid through November 30, 2028 and covers the Crackingstone Project area centered near UTM 627600 E / 660200 N, Zone 12N.

Belmont Comments on Permit Approval

“Receiving the Crackingstone drill authorization is an important milestone for Belmont,” stated George Sookochoff, Chairman. “This multi-year permit gives us full flexibility to conduct drilling and associated exploration work across multiple high-priority uranium and rare earth targets. With strong historical results and compelling modern geophysical data, Crackingstone is positioned for a very meaningful drill campaign.”

Historical Drilling: All 20 Holes Intersected Uranium

Crackingstone benefits from a strong historical foundation. In 2008, a 20-hole diamond drill program was completed on the property — all 20 holes intersected uranium mineralization, confirming widespread U-bearing structures and alteration zones across multiple target areas.

The 2008 program was considered successful, and follow-up drilling was recommended by the operators at the time. However, due to the global 2008 financial crisis, exploration companies across the sector sharply reduced activity, and the Crackingstone project was placed on hold for economic reasons — not geological ones.

These historical results, combined with modern radiometric and structural datasets, highlight the potential for significant mineralized corridors that warrant renewed drilling.

Project Preparation for 2026 Drilling

Belmont has completed a comprehensive geological and geophysical review and is preparing to finalize drill locations for the 2026 program.

Preparatory work now underway includes finalizing drill contractor selection, optimizing access routes under the newly permitted trail allowances, and integrating geological, radiometric, magnetic, and structural layers into the final 2026 drill layout.

Next Steps

With the CLWA permit in place, Belmont will proceed with:

• Final drill site planning and pad layout
• Field readiness and access preparation
• Scheduling and mobilization for the 2026 drilling season

About Crackingstone

Located near Saskatchewan’s uranium-rich Athabasca Basin, and situated just six kilometers from Uranium City, the Crackingstone property benefits from excellent infrastructure proximity, including road access, year-round airport, power availability, and logistical support. Belmont’s exploration efforts also include evaluating rare earth element (REE) potential on the property, further enhancing its strategic importance.

• Exceptional High-Grade Uranium Potential: The property has demonstrated historic grab sample grades of up to 15.6% U₃O₈. Previous mining on the site produced 11 tons at an average grade of 2.3% U₃O₈ (A qualifying 43-101 Report on the Crackingstone River-Ruza Property Beaverlodge district SE of Uranium City Saskatchewan, R.A. Bernatchez, P. Eng Consulting Geologist, July 11, 2006).
• Extensive Mineralized Corridors: Three major conductive and structural mineralized corridors, totaling 10 kilometers in length, have been identified and are associated with high-grade uranium occurrences.

Other Flagship Projects:

Come By Chance (CBC) Property – British Columbia

• A compelling porphyry-CRD system under active exploration by Belmont
• 2025 drilling results pending.

Athelstan-Jackpot (A-J) Gold – British Columbia:

• A-J Gold Project, which includes two past producing gold mines—Athelstan and Jackpot—that yielded 7,600 ounces of gold and 9,000 ounces of silver (Minfile 082ESE047). Key highlights of the project include:
• Extensive Surface Gold Mineralization: A 1,500-meter gold trend with widespread surface gold mineralization has been identified.
• Exploration Focus: Belmont is investigating the potential for economic gold grades in mineable surface and near-surface ore zones along this trend.

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Laurence Sookochoff, P.Eng. Technical Advisor of the Company, who is a Qualified Person as defined by NI 43-101

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, Chairman

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.

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