Bellamont Increases Bought Deal Equity Financing to $20.0 Million

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Bellamont Exploration Ltd.("Bellamont" or the "Corporation") (TSX VENTURE:BMX.A)
(TSX VENTURE:BMX.B) is pleased to announce that, in connection with its
previously announced public offering, the Corporation and the syndicate of
underwriters led by FirstEnergy Capital Corp. and including, RBC Capital
Markets, GMP Securities L.P., National Bank Financial, Haywood Securities Inc.
and Research Capital Corp. have agreed to increase the size of the offering to
25,000,000 Subscription Receipts ("Receipts"). Under the revised terms, the
Underwriters have agreed to purchase, on bought deal basis, an aggregate of
25,000,000 Receipts at $0.80 per Receipt for aggregate gross proceeds of
$20,000,000.


The Corporation intends to use the net proceeds to fund the acquisition of a
private company with assets located in the Corporation's Peace River Arch core
area and the Pembina Cardium Fairway (the "Acquisition").


Each Receipt will entitle the holder thereof, without further payment of any
additional consideration or further action, to receive one Class A Share of
Bellamont upon the completion of the Acquisition.


For more information regarding the Corporation, please refer to the new
corporate presentation on Bellamont's webpage at www.bellamont.com.


Bellamont is an emerging oil and gas company focused on the acquisition,
exploration, development and production of oil and natural gas in western Canada
and trades on the TSX Venture Exchange under the symbols "BMX.A" and "BMX.B".
The Corporation has 81,861,426 Class A shares and 1,012,000 Class B shares
outstanding.


Bellamont trades on the TSX Venture Exchange under the symbols "BMX.A" and "BMX.B".

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the anticipated completion of the
offering and use or proceeds of the offering.


The forward-looking statements contained in this document are based on certain
key expectations and assumptions made by Bellamont, including expectations and
assumptions concerning receipt of required shareholder or regulatory approvals,
third party consents and the satisfaction of other conditions to the completion
of the acquisition and the offering.


Although Bellamont believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Bellamont can give no
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve inherent
risks and uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These include, but
are not limited to, the failure to obtain necessary regulatory or shareholder
approvals or satisfy the conditions to closing the acquisition and the offering.


The forward-looking statements contained in this document are made as of the
date hereof and Bellamont undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.