Not for distribution to United States newswire services or for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / June 23, 2020 / Exro Technologies Inc. (CSE:XRO) (the "Company" or "Exro") is pleased to announce that it has filed a preliminary short form prospectus (the "Prospectus") with respect to an offering (the "Offering") of units ("Units") at a price of $0.70 per Unit for gross proceeds of up to Cdn $5,000,000. Each Unit will consist of one common share of the Company (a "Unit Share") and one-half of a common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (a "Warrant Share") at a price of $0.90 per Warrant Share for a period of 24 months following the closing of the Offering. The Warrants will be subject to an acceleration right (the "Warrant Acceleration Right") if on any 20 consecutive trading days, beginning on the date that is four months and one day following the closing date, the daily volume weighted average trading price of the Company's common shares on a recognized stock exchange is greater than $1.50 per common share. If the Company exercises its Warrant Acceleration Right, the new expiry date of the Warrants will be the 30th day following the notice of such exercise.

The Offering is being conducted on a commercially reasonable efforts basis by Gravitas Securities Inc. (the "Agent") in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario (the "Offering Jurisdictions").

The Company has granted to the Agent an option to increase the size of the Offering by up to 15%, exercisable in whole or in part at any time for a period of 30 days after and including the closing date of the Offering.

The net proceeds from the Offering will be used for further research and development of the Company's intelligent battery management system, micro, light and commercial electric vehicle programs, marketing, capital investments and general working capital requirements.

The Company has applied to list the Unit Shares and the Warrant Shares on the Canadian Securities Exchange (the "CSE"). There is no established trading market for the Warrants and the Company does not expect a market to develop. A copy of the Prospectus is available under the Company's profile at www.sedar.com or by request to Gravitas Securities Inc. at vancouvergsiib@gravitassecurities.com. The Offering is subject to certain customary conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE and the issuance of a receipt for the Company's final prospectus by each of the securities commissions of the Offering Jurisdictions.

Exro also announces that it has completed a non-brokered private placement financing and raised $115,000 through the issuance of 287,500 common shares in the capital of the Company ("Shares") at a price of $0.40 per Share.

The Shares will be subject to a hold period expiring October 24, 2020, pursuant to relevant prospectus or registration exemptions in accordance with applicable laws.

The net proceeds raised from the sale of this private placement will be used for working capital and general and administrative expenses.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Exro Technologies Inc.

Exro is a clean technology ​company that has developed patented coil driver technology which is used for electric motors to create ​greater speed, power and distance, while reducing weight and space. The Company's coil driver technology expands the capabilities and efficiency of electric motors by enabling two separate torque profiles within an electric motor; one profile for low speed and high torque and another profile for high speed and low torque. The coil driver technology ultimately translates into increased system efficiency and optimization for electric motors while consuming less energy and reducing costs. Exro has spent time and resources validating the coil driver technology with world-class partners and is now fully focused on commercializing its unique product as world governments push clean technology.

ON BEHALF OF THE BOARD OF DIRECTORS

Sue Ozdemir, Chief Executive Officer

CONTACT INFORMATION
Canada: Jake Bouma
VP of Investor Relations
604-317-3936

United States: Vic Allgeier
TTC Group Inc.
646-841-4220

Email: info@exro.com

Forward-Looking Statements

Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "believe", "may", "would", "could", "will" and similar expressions, as they relate to the Company or its management are intended to identify forward-looking statements. More particularly and without limitation, this news release contains forward-looking statements and information concerning the closing of the Offering, regulatory approvals, use of proceeds and the Company's intention to commercialize its product in the near term. Such statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Company's actual performance or achievements to vary from those described herein, including those risk factors described in the Prospectus and in the documents incorporated by reference therein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not assume any obligation to update these forward-looking statements, except as required by law.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

SOURCE: Exro Technologies Inc.

ReleaseID: 595021

LOS ANGELES, CA / ACCESSWIRE / June 23, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class-action lawsuit against Phoenix Tree Holdings Limited ("Phoenix Tree" or "the Company") (NYSE:DNK) for violations of the federal securities laws.

Investors who purchased the Company's American Depositary Shares ("ADSs") pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company's January 22, 2020 initial public offering ("IPO"), are encouraged to contact the firm before June 26, 2020.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Phoenix Tree misrepresented the number and nature of renter complaints before its IPO. The Company also misrepresented its exposure to adverse effects on the rental market in China due to the Wuhan coronavirus. Following its IPO, reports exposed that Phoenix Tree experienced significant financial problems based on the coronavirus outbreak. Based on these facts, the Company's public statements and Registration Statements were false and materially misleading. When the market learned the truth about Phoenix Tree, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 595024

LOS ANGELES, CA / ACCESSWIRE / June 23, 2020 /  The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Coty Inc. ("Coty" or "the Company") (NYSE:COTY) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Forbes reported on May 29, 2020, that Kylie Jenner had provided misleading financial data to the magazine regarding her cosmetics brand. Coty had acquired a majority stake in Jenner's cosmetics brand earlier in 2020. Based on this news, shares of Coty dropped by 13% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 595023

REDWOOD CITY, CA / ACCESSWIRE / June 23, 2020 / Avinger, Inc. (NASDAQ:AVGR), a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of patients with Peripheral Artery Disease (PAD), today announced the pricing of an underwritten public offering with gross proceeds to the Company expected to be $5.4 million before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company.

The proposed offering equates to 20 million shares of the Company's common stock at a price of $0.27 per share. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which may include research and development of the Company's Lumivascular platform products, preclinical and clinical trials and studies, regulatory submissions, expansion of sales and marketing organizations and efforts, intellectual property protection and enforcement and capital expenditures. The Company has not yet determined the amount of net proceeds to be used specifically for any particular purpose or the timing of these expenditures. The Company may use a portion of the net proceeds to acquire complementary products, technologies or businesses or to repay principal on its debt; however, the Company currently has no agreements or commitments to complete any such transactions or to make any such principal repayments and is not involved in negotiations to do so.

The Company has also granted the underwriters a 45-day option to purchase up to an additional 15% of the number of shares of common stock offered in the public offering to cover over-allotments, if any, at the public offering price. The offering is expected to close on or about June 26, 2020, subject to customary closing conditions.

Aegis Capital Corp. is acting as sole bookrunner for the offering.

This offering is being made pursuant to an effective registration statement on Form S-1 (No 333- 239177) previously filed with the U.S. Securities and Exchange Commission (the "SEC") and declared effective by the SEC on June 23, 2020. A final prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov.

Electronic copies of the final prospectus, when available, may be obtained by contacting Aegis Capital Corp., Attention: Syndicate Department, 810 7th Avenue, 18th floor, New York, NY 10019, by email at syndicate@aegiscap.com, or by telephone at (212) 813-1010. Before investing in this offering, interested parties should read in their entirety the final prospectus, which provides more information about the Company and such offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Avinger, Inc.

Avinger is a commercial-stage medical device company that designs and develops the first and only image-guided, catheter-based system for the diagnosis and treatment of patients with Peripheral Artery Disease (PAD). PAD is estimated to affect over 12 million people in the U.S. and over 200 million worldwide. Avinger is dedicated to radically changing the way vascular disease is treated through its Lumivascular platform, which currently consists of the Lightbox imaging console, the Ocelot family of chronic total occlusion (CTO) catheters, and the Pantheris® family of atherectomy devices. Avinger is based in Redwood City, California. For more information, please visit www.avinger.com.

Investor Contact:

Mark Weinswig
Chief Financial Officer
Avinger, Inc.
(650) 241-7916
ir@avinger.com

Matt Kreps
Darrow Associates Investor Relations
(214) 597-8200

Safe Harbor Disclosure

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements related to the Company's ability to complete the financing, its intended use of proceeds and other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that may cause actual results or events to differ materially from those projected. These risks and uncertainties, many of which are beyond our control, include: the effects of the COVID-19 pandemic on our operations and general economic conditions; the risk that the public offering of common stock may not close; risks relating to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; risks relating to the results of development activities; our ability to attract, integrate and retain key personnel; our need for substantial additional funds; patent and intellectual property matters; competition; as well as other risks described in the section entitled "Risk Factors" and elsewhere in our Annual Report on Form 10-K filed with the SEC on March 6, 2020 and in our other filings with the SEC, including, without limitation, our reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management's current estimates, projections, expectations and beliefs. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

SOURCE: Avinger, Inc.

ReleaseID: 595011

VANCOUVER, BC / ACCESSWIRE / June 23, 2020 / AMPD Ventures Inc. ("AMPD" or the "Company", (CSE:AMPD)(FRA:2Q0) is pleased to announce that Stephen Hynes has been appointed to its Advisory Board effective immediately. Mr. Hynes will assist in the proposed expansion of AMPD's network of smaller, distributed AMPD HPC (high-performance computing) data centres built within urban environments and connected by metro area and 5G networks. Mr. Hynes is the founder of Hynes Developments Inc. and has over thirty years of commercial and real estate experience across North America, with a special interest in the design and development of innovative and environmentally responsible facilities.

Stephen Hynes – Founder, Hynes Developments Inc.

Mr. Hynes has expertise in social architecture, caring deeply for building a brighter future. His work ranges from building development to the design and construction of data centres and control systems that form part of his vision of efficient buildings that decrease carbon footprint and increase urban resilience. His energy and creativity are the drive behind Hynes Developments, a division of Hynes Group – a North American real estate development company focused on creating environments that are responsive to the needs of people, headquartered in Vancouver, British Columbia. His early work on integrated systems proved key to the design of The Waterfall Building that he built in Vancouver, where AMPD's DC1 is now located.

Photo caption: (Left) The Waterfall Building in Vancouver, built in 2001 by Hynes Developments Inc.
(Right) AMPD's DC1 Data Centre housed within The Waterfall Building – Systems inside DC1 repurpose heat and create potable water for use in the surrounding environment, turning waste into valuable assets. DC1 is nearly at capacity and plans for DC2 are under way.

"We are pleased to welcome Stephen to our Advisory Board. Due to his commercial real estate experience and expertise in building environmentally responsible data centres, this collaboration will help AMPD carry forward the momentum from the launch of DC1, our operating proof-of-concept data centre that, with our current pipeline, we hope will exceed capacity. His guidance will help AMPD take the steps required to establish its position as an international internet infrastructure company, capable of meeting the highest environmental standards," stated AMPD CEO, Anthony Brown.

"I am confident that Stephen will strengthen our leadership team and propel us forward in our expansion and growth plans to benefit shareholders and customers. Physical distancing has accelerated an already growing demand for our remote computing solutions; with people working from home, the requirement for high-powered, low-latency remote computing has opened a window for AMPD to become a market leader in urban edge data centres built for sectors such as digital media and entertainment and artificial intelligence," added Mr. Brown.

Mr. Hynes commented, "Anthony and I share a common vision of adding value through innovation. AMPD's DC1 proof-of-concept data centre represents the future of compute infrastructure housed in sustainable data centres, realizing the full potential of the next generation of digital infrastructure that is accessible to customers in urban environments. I am excited to have the opportunity to be part of AMPD's journey of adding value through innovation".

Further to the announcement on January 21, 2020, plans for the development of AMPD's second data centre ("DC2") remain underway. Plans for DC2 were announced in parallel with Capilano University's Creative Technology Community Building, which is intended to house a three-megawatt data centre.

About AMPD Ventures Inc.

AMPD specializes in providing high performance cloud and compute solutions for low latency applications, including video games and eSports, digital animation and visual effects, and big data collection, analysis, and visualization.

ON BEHALF OF THE BOARD OF DIRECTORS

/s/ "Anthony Brown"

Anthony Brown
CEO & Director
AMPD Ventures Inc.
info@ampd.tech | Tel: 604-332-3329

For more information on AMPD, please contact:

Mishka Gounden
Tel: 604-332-3329 ext. 3
mishka.gounden@ampd.tech
Or visit http://www.ampd.tech

The CSE does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

Certain statements made herein may contain forward-looking statements or information within the meaning of the applicable Canadian securities laws. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "hopes", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information herein include, but are not limited, to statements or information with respect to the expansion of AMPD's network, growth of AMPD's data centre presence across North America and internationally, the impact of Stephen Hynes' contribution to AMPD, meeting capacity at DC1, development of DC2, and the demand of computing solutions.

Forward-looking statements and forward-looking information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. We have made certain assumptions about the forward-looking statements and information, including the DC1 pipeline, the successful development of DC2, successful growth of AMPD's data centre presence across North America and internationally, the effective impact of Stephen Hynes' contribution to AMPD via the AMPD Advisory Board, and the growing demand for computing solutions. Although our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statements or information will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. These risks, uncertainties and other factors include those factors discussed in the section entitled "Risk Factors" in the Company's Form 2A Listing Statement dated October 17, 2019 and "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.

There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Except as required by law, we do not expect to update forward-looking statements and information continually as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.

All forward looking statements and information contained in this News Release are qualified by this cautionary statement.

SOURCE: AMPD Ventures Inc.

ReleaseID: 594996

NEW YORK, NY / ACCESSWIRE / June 23, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Conn's, Inc. (NASDAQ:CONN)
Class Period: September 3, 2019 – December 9, 2019
Lead Plaintiff Deadline: July 14, 2020

Conn's, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Conn's was experiencing an increase in first payment defaults and 60-plus day delinquencies; (2) as a result, Conn's was reasonably likely to record an increase to its provision for bad debts; (3) the Company made certain underwriting adjustments, including tightening its standards for new customers and online applicants; (4) as a result, the Company's same-store sales would be adversely impacted; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in CONN: http://www.kleinstocklaw.com/pslra-1/conns-inc-loss-submission-form?id=7509&from=1

Sorrento Therapeutics, Inc. (NASDAQ:SRNE)
Class Period: May 15, 2020 – May 22, 2020
Lead Plaintiff Deadline: July 27, 2020

The SRNE lawsuit alleges Sorrento Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (i) the Company's initial finding of "100% inhibition" in an in vitro virus infection will not necessarily translate to to success or safety in vivo, or in person; (ii) the Company's finding was not a "cure" for COVID-19; and (ii) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in SRNE: http://www.kleinstocklaw.com/pslra-1/sorrento-therapeutics-inc-loss-submission-form?id=7509&from=1

Carnival Corporation & Plc (NYSE:CCL)
Class Period: September 26, 2019 – May 1, 2020
Lead Plaintiff Deadline: July 27, 2020

Throughout the class period, Carnival Corporation & Plc allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's medics were reporting increasing events of COVID-19 illness on the Company's ships; (2) Carnival was violating port of call regulations by concealing the amount and severity of COVID-19 infections on board its ships; (3) in responding to the outbreak of COVID-19, Carnival failed to follow the Company's own health and safety protocols developed in the wake of other communicable disease outbreaks; (4) by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in CCL: http://www.kleinstocklaw.com/pslra-1/carnival-corporation-loss-submission-form?id=7509&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

ReleaseID: 595009

VANCOUVER, BC / ACCESSWIRE / June 23, 2020 / George Sookochoff, CEO/President of Belmont Resources Inc (TSX.V:BEA)(Frankfurt:L3L2) ("Belmont"), (or the "Company") is pleased to announce the start of its 2020 exploration program on its recently acquired Athelstan-Jackpot (A-J) gold property located in the Phoenix mining camp of southern British Columbia.

View A-J Property Map
at: https://bit.ly/37QSDnf

About the Athelstan Property

The Athelstan property was staked in the late 1890's, and was worked intermittently from 1901 through to 1940. The property has two past producing gold mines, the Athelstan and Jackpot which produced approximately 6,979 ounces gold and 8,234 ounces silver from 38,665 tons of material intermittently during the period from 1900 through 1940 (Minfile 082ESE047).

The A-J property is situated on a south-east mineralized trend extending from the past producing Phoenix mine 3 kms to the north-west. Belmont's Black Bear and Pride of the West claims lie on the trend as well.

The property adjoins the Golden Crown property. The Golden Crown mine has been previously mined with material being sent to Golden Dawn Minerals 200 tpd Greenwood Mill, 1.5kms directly north of the A-J property. The Golden Crown mine has a 2017 PEA 43-101 resource.

*Mineralization on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property

View A-J Zones Map
at: https://bit.ly/2AZDeow

Along with the two past producing gold mines, Athelstan and Jackpot, the property contains extensive amount of trenches, pits and adits throughout the property.

Property Mineralization

Nine principle areas of mineralization are known on the property, the Athelstan, Jackpot, A, B, J-11, J-34, Oro, Bay Horse, and Iron Clad zones

Known gold and silver mineralization on the property occurs associated with massive arsenopyrite and pyrite lenses within listwanite (altered serpentinite).

View A-J Zones Map
at: https://bit.ly/2ZgUbDd

The most prevalent style of mineralization consists of auriferous massive to semi-massive sulfide lenses (arsenopyrite-pyrite) along shear zones within listwanite, along intrusive contacts, and locally within Lexington porphyry.

Near surface, massive sulphide zones can be strongly oxidized. All of the historic production from the property, and the vast majority of the previous exploration, has been directed at massive sulfide and oxidized sulfide zones within listwanite.

At the Jackpot mine two lenses of mineralization, each ranging up to 7.6 meters in true thickness with horizontal dimensions of about 12 by 30 meters, were mined.

At the Athelstan the main mineralized lens measured about 12 by 18 meters and had a true thickness of 0.9 and 2.4 meters. Other smaller lenses were mined at both locations. Mineralization is exposed in pits on the Butte Crown Grant. The mineralization also occurs in pits on the Iron Clad Crown Grant, 400 meters northeast of the Jackpot.

Along with the numerous mineralized pits the property contains extensive mine dumps that appear to contain further mineralization. In a 2001 Summary Report on the A-J Group prepared by R.E. Miller, B.Eng.Sci.,P.Geo Mr. Miller stated "the identification of one to two areas of material having dimensions of 2.0 metres thick, 15 metres in width and 90 metres in length with an average grade of 0.3 opt gold."

Data Compilation

Belmont has completed the digitizing and compiling all historic exploration data into a single comprehensive GIS digital database. This exercise included geo-referencing, digitization and interpretation of various layers of geological data, in addition to a 3D modeling exercise aimed at generating drill targets at several mineralized zones.

Data acquisition, compilation and analysis is an important and necessary first step which provides us with a solid database and multiple layers of exploration data which can now be readily analyzed and assessed for purposes of planning the best strategy for advancing the A-J property and to commence our field program for the 2020 exploration season.

2020 Exploration Program

IP Survey

The Company is making preparations for a 100m line space IP survey over the mineralized zones. IP highlights electrically chargeable rock including those containing significant sulphides which the property contains and shows to be associated with mineralization.

The close line spaced IP survey will provide a highly detailed 3D geophysical model beneath the surface mineralization to a depth of approximately 300m which will important for identifying further drill targets.

Drilling

Multiple drill targets have been selected from surface exploration data and the results of the IP survey will help in identifying possible deep seated vertical open space pathways for mineralized bearing hydrothermal solutions.

The Company is preparing permitting application of a 5-year 10-site drilling program and potentially envisions conducting first pass drilling on one or more targets before the end of the 2020 field season.

Airborne Imagery Survey

A property wide low level, high-resolution imagery airborne survey is being planned for the first week of July. The survey will provide very-fine resolution elevation and photographic data that will be very useful for accurately locating and detail mapping workings, showings and rock exposures over the entire property.

George Sookochoff, President & CEO commented "I was initially very excited at being able to have the opportunity of acquiring the Athelstan-Jackpot crown granted mineral claims, in particular with the properties situated in a highly mineralized region of British Columbia and also having two past producing gold mines. But now that we have completed the arduous task of digitizing, compiling and reviewing all the historic data, I am only now able to fully appreciate the tremendous potential the A-J property holds for the discovery and development of both near surface and deeper gold deposits."

View Phoenix-Republic Map
at: https://bit.ly/2B34UZJ

The Phoenix – Republic Mining Districts

The Phoenix mining camp is a highly mineralized district which ranks as the sixth largest gold producing camp in B.C., with a total production of over 1 million ounces of gold. The majority of this gold production is from the past producing Phoenix copper-gold mine, located only 3 km northeast of the A-J property.

Approximately 40 km to the south, recent exploration in the area between Republic Washington and the International Border has resulted in the discovery of nine new gold deposits within the past 10-15 years with a total contained gold content in excess of 4 million ounces with 2.5 million ounces being produced from epithermal veins.

The total gold (produced + known reserves), in an area measuring 50 x 40 km which includes the Phoenix and Republic Districts, exceeds
7.4 million ounces Au

*Mineralization on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property

Although the Phoenix area has a similar geologic regime as the Republic area, comparatively little exploration has targeted epithermal gold mineralization.

The ability of this area to continue to produce attractive gold deposits by utilizing newly recognized metallogenic models used in the discovery of gold deposits in the south, justifies acquisition and exploration of properties with good epithermal exploration models and targets

Qualified Person

The scientific and technical information that forms the basis for parts of this press release was prepared and/or reviewed by Laurence Sookochoff, P.Eng., who is a Qualified Person "(QP") as defined by National Instrument 43-101

The Qualified Person has not verified the data disclosed, through sampling, analytical, nor test data. The information was obtained from assessment reports submitted to the B.C. Government, and publicly available company reports.

The Qualified Person has not completed sufficient work to verify the historic information on the Property,.

About Belmont Resources Inc.

Belmont Resources Inc. is a Canadian based resource company traded on the TSX-V under the symbol "BEA". The Company is systematically exploring and acquiring gold properties in Southern British Columbia and Northern Washington State.

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.

SOURCE: Belmont Resources Inc.

ReleaseID: 595006