Bellamont Exploration Ltd.

TSX VENTURE: BMX.A, BMX.B
Bellamont Exploration Ltd.
Jan 19, 2010 12:13 ET.

Bellamont Increases Bought Deal Equity Financing to $20.0 Million

CALGARY, ALBERTA–(Marketwire – Jan. 19, 2010) –

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY 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 more information, please contact

Bellamont Exploration Ltd.
Steve Moran
President and CEO
(403) 802-6840
(403) 802-1315 (FAX)

or

Bellamont Exploration Ltd.
Suite 200, 1324 – 17th Avenue S.W.
Calgary, Alberta T2T 5S8
www.bellamont.com
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Bellamont Increases Bought Deal Equity Financing to $20.0 Million

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