Bellamont Exploration Ltd. announces grant of stock options

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CALGARY, March 2 /CNW/ - Bellamont Exploration Ltd. ("Bellamont" or the "Corporation") (TSXV: BMX.A, BMX.B) is pleased to announce it has granted stock options pursuant to its stock option plan. Bellamont has issued an additional 5,950,000 options to the Corporation's officers and directors. These options were issued at a price of $0.73 per share, Bellamont's closing price as of March 2, 2010. The options are exercisable over a five year period and vest over three years. Following the grant, 9,405,000 shares are reserved for issuance pursuant to Bellamont's stock option plan.

Bellamont's strategy to build a low risk reserve, production and cash flow base through acquiring, developing and exploring primarily in the Peace River Arch area of Alberta. The Corporation has a strong, technically focused management team that internally generates and develops high quality, large resource based prospects. Bellamont trades on the TSX Venture Exchange under the symbols "BMX.A" and "BMX.B". The Corporation now has 140,787,690 Class A shares and 1,012,000 Class B shares outstanding.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Bellamont Exploration Ltd., Suite 200, 1324 - 17th Avenue S.W., Calgary, Alberta, T2T 5S8, Telephone: [phone], Fax: [phone], Steve Moran, President and Chief Executive Officer, www.bellamont.com