Belvedere discovers new mineralised zone at the Hitura Nickel Mine

Vancouver, British Columbia, July 10th, 2008. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce further assay results from ongoing diamond drilling at the company’s 100% owned Hitura Nickel Mine, in Central Finland. The Hitura intrusive complex is 1.3 km long and consists of three tectonically separated intrusive bodies, Hitura North, Mid and South. All mining activities to date have been concentrated on the North Hitura intrusion. This phase of drilling has been focussed on the Mid Hitura intrusion as part of an extensive exploration program to develop new areas for mining in Mid and South Hitura.

Drilling Highlights – New Area (E Zone)
•R 196461.49m @ 0.59% Ni, 0.17% Cu
•R 196919.32m @ 0.69% Ni, 0.19% Cu

David Pym (CEO) comments “This new discovery in Mid Hitura underlines our belief in the development potential at Hitura. The new zone may indicate the continuity of mineralisation from North Hitura into Mid-Hitura of the very thick eastern ore zone which constitutes a large portion of the current reserve base of the mine. ”

Table 1: Assay results from exploration drilling at Mid Hitura

The drilling to date consists of fans drilled in profiles from an exploration drift on the 335m level. The drilling reported here (Table 1) is directed eastwards into Middle Hitura. The drilling has intersected two zones of mineralisation close to the western and eastern margins of the intrusion respectively. The western mineralised zone was previously known, but has now been better constrained. The eastern mineralised zone however, represents a new discovery and has so far been intersected in four profiles over a strike length of 100 metres at depths varying between 300 and 570 m below surface. Mineralisation remains open up to at least the 250 m level, downwards and along strike.
In addition, exploration drilling continues to be conducted on the depth extents of the North Hitura ore zones, and will be reported on in due course.

The drilling was undertaken by Nivalan Timanttikairaus Oy of Finland, providing 30 mm diameter core. A company geologist logs the core, and marks the sample intervals based on sulphide mineralisation and lithology. Sample lengths are typically between 0.20 metres and 6 metres in length. Core samples are split in half on site, with half being crushed in a cone crusher. A 500g sub sample is milled using a ring mill. 200mg of the milled sample is dissolved in HNO3 and assayed for Ni and Cu by AAS at the Hitura Mine Laboratory, as has been the practice for many years. Approximately 5% of samples are sent to Labtium Oy of Finland (Accredited Laboratory) for check assays, and are subject to the typical Labtium Oy QA/QC procedures. The remaining half core and crushed sample is retained on site for verification and reference purposes.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere Signs New Off-take Agreement

Vancouver, British Columbia, Belvedere Resources Ltd. BEL: TSX-V (“Belvedere” or the ‘Company’) is pleased to announce that it has signed a new off-take agreement for its nickel concentrate with Jinchuan Group in China. This will replace the Company’s existing off-take agreements which expire at the end of June 2008. Belvedere welcomes the opportunity to commence a partnership with Jinchuan Group which has shown considerable interest in Belvedere’s product and has followed the Company’s development since the initial move into production in June 2007.

Effective July 1, 2008 Belvedere’s nickel concentrate will be sold at prevailing LME rates resulting in a material increase in revenues, margins and cash flows. All of the Hitura mine’s production to date has been subject to a fixed price agreement paying considerably less than current LME pricing levels.

David Pym, CEO, commented;
“This agreement is extremely important for the Company as it signifies the end of the fixed price legacy off-take agreement acquired with the purchase of the Hitura Mine. Previously approximately 80% of nickel production was subject to a fixed price agreement paying considerably less than current LME pricing levels. The new agreement should contribute substantially to revenues allowing management to fast track their development projects in the Kotalahti area”

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,500 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland, and its 100% owned Särkiniemi Nickel Mine in Eastern Finland.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere Reports 2007 Financial and Operating Results

For full version of this release please click here

Vancouver, British Columbia, Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that is has filed it’s audited consolidated financial statements and management discussion and analysis (MD&A) for the financial year ended December 31st, 2007 with the Canadian securities regulators. All results and filings are also available for review on SEDAR. All figures are reported in Euro’s.

Highlights
•Belvedere reports first revenues of €14.8 million from mining operations at the Hitura and Särkiniemi Nickel Mines in Finland started in June 2007
•Production for the first nine months of operations of 2,040 metric tons (mt) of nickel in concentrate, fully in line with managements target
•First operating profit recorded in Q4 2007 of €34,180
•Positive operating margins for first two quarters of operations

Revenues for 2007 totalled €14.8 million with operating costs totalling €15 million prior to depletion, depreciation, amortization and stock-based compensations resulted in an operating loss of € 0.2 million overall.

This loss was primarily due to heavy exploration and development investment in operations, in combination with Hitura production being sold under a legacy fixed price sales contract. This contract yielded an approximately 40% lower average nickel sale price compared to the Särkiniemi sales over the same period, lowering Hitura revenues for the period by approximately € 7 million. This sales contract will continue to negatively affect revenues for the first half of 2008 until it expires in June. Despite this handicap fourth quarter figures were in profit.

Net loss for the year ended December 31st, 2007 was €4.7 million or €0.07 per share, compared to a loss of €0.9 million or €0.03 per share reported for fiscal 2006.

Revenues for the quarter ended December 31, 2007 (Q4) of €7.7 million, (Q3 €6.8 million,) yielded a positive operating margin of € 0.58 million before depletion, depreciation and amortization and stock-based compensation. Overall the Company reported a small net profit of €34,000 or €0.01 per share, which compares with a loss of €3.6 million or €0.07 per share for the previous quarter and a loss of €0.6 million or €0.01 per share reported for the same period of fiscal 2006. Stock based compensation expenses caused the large increase in reported losses in the third quarter of fiscal 2007.

David Pym, CEO commented; “We are pleased to present our 2007 results generating maiden revenues from our two mines which commenced operation in June, fully in line with our original expectations. We remain strongly committed to growing our business further in 2008 when a new offtake agreement will come into effect, significantly increasing our revenues.”

Outlook for 2008:
•Belvedere is continuing to invest heavily in exploration and development to support rapid production growth. Investment is predominantly focussed on near mine resource development around the Hitura and Kotalahti Production Centres. Definition drilling will commence in the Pori area.
•Significant emphasis is being placed on developing our gold business, with a large programme of resource delineation drilling commencing in Q2, 2008.
•The fixed price agreement for the Hitura concentrate expires on June 30, 2008 and effective July 1, 2008, all of Belvedere’s base metal concentrate will be exposed to LME pricing.
•Subject to positive feasibility studies and permitting approvals, the second production centre in the Kotalahti district is scheduled to come on stream in 2009. The Luikonlahti mill will be commissioned with ore from the nearby Hautalampi deposit.
Further Details Presented Below:

Effective January 1, 2007, the Company changed its measurement and reporting currency from the Canadian dollar (“Cdn$”) to the Euro (“€”). For year ending December 31, 2006 and all prior reporting periods, the Company reported its financial statements in Canadian dollars so all comparative figures disclosed in these 2007 financial statements have been restated to the Euro.

Belvedere commences 5,000 m diamond drilling programme on their Hirsikangas Gold Property in Finland

Vancouver, British Columbia, April 16th, 2008. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that it has started a 5,000 metre diamond drilling programme on its 100% owned Hirsikangas Gold Property, Finland.

Historical drilling on 50-100m spaced profiles across the gold bearing structure, has intersected gold mineralisation over a strike length of at least 1000m and remains open along strike and at depth. The drilling programme is aimed at verifying and infilling previous drilling to produce an NI 43-101 compliant resource estimate.

David Pym (CEO) comments “This drilling programme is the start of an aggressive resource delineation phase within our gold projects in Finland. The Hirsikangas project is one of several similar advanced gold projects in the area within an 80 km radius of Belvedere’s Hitura Nickel Mine. The area is developing into a significant gold district in which Belvedere is the principle claim holder, with obvious synergies with existing mining operations.”

The Hirsikangas Gold Property is an orogenic, shear zone hosted gold deposit, located in western Finland, 65 km northwest of Belvedere’s Hitura Nickel Mine. The property consists of two claims covering about 150 hectares.

The Geological Survey of Finland (GTK) discovered the source of a gold mineralised boulder in 2004, and during the period 2004 – 2006 conducted an exploration program consisting of: boulder tracing, bedrock mapping, geophysical surveys (magnetics and IP), petrological and mineralogical studies, geophysical surveys and diamond drilling totalling 4094 m over 32 drillholes. Although the density of drilling was not sufficient to estimate a resource, it showed that gold mineralisation occurs within a sheared and altered host rock (felsic schist) that is mineralised along a strike length of at least 1,000 m.

Historically drilled intersections were announced by Belvedere in a press release on 9th November 2007. Current modelling suggests the main zone of mineralisation has a true thickness from 4 – 20m and averages 1.5-2.5 g/t gold although higher grade intervals are reported (e.g. 7.40 m @ 9.2 g/t Au). Preliminary studies suggests gold is predominantly free and is associated with quartz grain boundaries

More information on the Hirsikangas property can be found on the GTK’s website

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,400 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere increases reserves by 156% at the Hitura Nickel Mine

Vancouver, British Columbia, March 31st, 2008. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that it has received the updated reserve and resource estimate for its 100% owned, 620,000 tonne per annum Hitura Nickel Mine, Finland.

Highlights

• Total Ore Reserves are 2,350,000 tonnes – an increase of 156% (compared to 31.12.2006).

• Measured and Indicated Resources of 1,372,000 tonnes and Inferred Resource of 430,000 tonnes.

The Qualified Person responsible for the Independent Technical Report has determined that the Hitura Mine has NI 43-101 compliant Reserves and Resources as follows:

David Pym (CEO) comments “Management’s first goal after the acquisition of Hitura, has been to increase the reserve base. We acquired Hitura with around 12 months of mineable reserves. Just six months later we have four years of reserves, and have replaced the converted resources. This is a great complement to our production and exploration teams and demonstrates our belief in the long term future of Hitura”.

Belvedere is also pleased to announce that the VT3 ramp, that was started in August 2007, is progressing according to schedule, and should be completed in May 2008. This ramp has been developed in the more competent country rocks hosting the intrusion, and will go a long way to reducing the risks of production stoppages associated with the poor ground conditions within the intrusion itself. In addition, the exploration programme initiated in June 2007, is ongoing and proceeding according to schedule.

Ore Resource Statement:
The ore reserve and resource estimate for Hitura is effective from 31st December, 2007, and has been prepared by Markku Meriläinen of Outotec Oyj, acting as an independent “Qualified Person”. The ore resource was calculated using block modelling, made up of 5m x 5m x 5m parent blocks, with sub-blocks of 2.5m x 2.5m x 2.5m constrained by a 0.47% Ni grade envelope. The grades inside the blocks were calculated using a combination of ordinary Kriging and an inverse distance squared method, depending on the quality of the variograms associated with the different ore zones. The maximum search distance was 200m for all estimations. The distance between the drilling profiles used for constructing the grade envelopes, varies from 6 m to 25 m but the most frequent one is 12.5 m. The minimum of 3 and maximum of 15 composites were used to estimate the block grade. An average specific gravity of 2.7 was assigned for all blocks.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere Commences Underground Production at Sarkiniemi West Nickel Mine- Infill Drilling Completed on the Sarkiniemi East Orebody

VANCOUVER, BRITISH COLUMBIA—(Marketwire – March 19, 2008) – Belvedere Resources Ltd. (TSX VENTURE:BEL) (“Belvedere”) is pleased to announce that it has begun ore shipments from the underground development at Sarkiniemi to Belvedere’s Hitura Nickel Mine for processing. The Sarkiniemi ore is now being produced entirely from underground operations after the successful mining of the open pit portion of the deposit.

David Pym (CEO) comments “Management is delighted with the rapid progress made with the underground development at Sarkiniemi, enabling production to start ahead of schedule. The infill drilling results from Sarkiniemi East have now been received and a resource study is currently underway. An underground development tunnel is being extended to the Sarkiniemi East ore. This will enable mining activities to continue at Sarkiniemi into 2009.”

Sarkiniemi Nickel Mine: at its 100% owned Sarkiniemi Nickel Mine, in eastern Finland. The open pit phase of mining was completed in December, 2007, with the ore stockpile being fully processed by the end of February, 2008. In total Belvedere has mined and processed 61,361 t averagimg 0.94 % Ni from the open pit phase for a total production of 371.9 t of nickel in concentrate. The Sarkiniemi West orebody had a pre-mining Indicated Resource of 116,000 averaging 1.17 % Ni and 0.53 % Cu. The underground operation on the higher-grade deeper portions of the western ore body is expected to mine approximately 32,000 tonnes of ore. This will be transported to Hitura at an expected 8,000 – 9,000 tonnes per month.

Sarkiniemi East Drilling: The infill drilling at the Sarkiniemi East orebody, approximately 200 m east of the open pit has now been completed. The true thicknesses of these intersections are approximately 80 % of the reported intersections.

Table 1: Assay results from infill drilling at Sarkiniemi East

The drilling and surveying of holes has been contracted to Suomen Malmi Oy (SMOY). Drilling provides 42 mm diameter core. Due to the short hole lengths, only downhole dip deviations are surveyed, with no azimuthal variation being surveyed. A company geologist logs the core, and marks the sample intervals based on sulphide mineralisation and lithology. Sample lengths are typically between 0.10 metres and 2.70 metres in length. Core samples are sawn in half on site, with half being sent to the Labtium Oy Laboratory (ex Geological Survey of Finland) in Kuopio for sample preparation and assay. The remaining half core is retained for verification and reference purposes. At the Labtium Oy laboratory half-core samples are crushed and split into sub-samples by riffle splitter. A sub-sample is then milled and assayed by utilizing an aqua regia digestion of a 15 g sub sample, followed by analysis by ICP-AES. The Labtium laboratory has been accredited since 1994 according to the SFS-EN ISO/IEC 17025 standard to perform chemical analyses of geological samples. The quality system of the laboratory complies with the requirements of the Standards Council of Canada (CAN-P-1579) “Guidelines for Accreditation of Mineral Analysis Testing Laboratories”. The quality assurance-quality control (QAQC) program of Labtium Oy inserts into every batch of 50 samples, two standards, one blank and three laboratory duplicates. Standards, blanks and duplicates make up approximately 12% of the samples assayed.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit
www.belvedere-resources.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the contents of this news release

Belvedere intersects 2.25 % Nickel over 20.93 metres at North Hitura

Vancouver, British Columbia, January 17th, 2008. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce assay results from recent and ongoing diamond drilling at the company’s 100% owned Hitura Nickel Mine, in Central Finland. Drilling has been focussed in two areas: in North Hitura, where all mining is currently taking place, and in mid and south Hitura as part of an extensive exploration program to develop new areas for mining.

David Pym (CEO) comments “The excellent intersects in the NE-arch area of the North Hitura mine are well above the mine average of 0.6 % Ni and demonstrate there is high grade potential to the North Hitura ore-bodies. The new results will be incorporated into an updated Resource/Reserve estimate which is expected soon. Access to this area is planned from the VT3 ramp, which is already under development and the company expects mining of the high-grade area in the second half of 2008.

In addition, there have been several significant intersections of Nickel mineralisation outside of the known resource areas from the first phase of the exploration programme on the Middle and South Hitura intrusions, which demonstrate the potential of these areas to host further resources”

North Hitura: The exploration drilling at North Hitura has been focusing on the NE-arch area, drilling downwards from the 500m level. The high-grade zone has been intersected by several drillholes, suggesting a minimum strike length for the zone of approximately 40 metres and extending downdip for at least 50 metres. The zone remains open at depth.

Mid & South Hitura: The drilling at Mid- and South Hitura has to date been focused on drilling fans in 50 metre spaced profiles from an exploration drift on the 225m level. Drilling is directed eastwards into Middle Hitura and westwards into South Hitura. The true thicknesses of these intersections are unknown at present, although are likely to be in the range of 70 – 100 % of the intersection.

The drilling was undertaken by Nivalan Timanttikairaus Oy of Finland, providing 30 mm diameter core. A company geologist logs the core, and marks the sample intervals based on sulphide mineralisation and lithology. Sample lengths are typically between 0.20 metres and 6 metres in length. Core samples are split in half on site, with half being crushed in a cone crusher. A 500g sub sample is milled using a ring mill. 200mg of the milled sample is dissolved in HNO3 and assayed for Ni and Cu by AAS at the Hitura Mine Laboratory, as has been the practice for many years. Approximately 5% of samples are sent to Labtium Oy of Finland (Accredited Laboratory) for check assays, and are subject to the typical Labtium Oy QA/QC procedures. The remaining half core and crushed sample is retained on site for verification and reference purposes. The drillhole plans and sections will be available on the company’s website http://www.belvedere-resources.com/

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere produces 969 tonnes of nickel in concentrate in the first 4 months of operations

Vancouver, British Columbia, November 13th, 2007. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that during the last four months it produced 969 tonnes of nickel in concentrate.

Belvedere is also pleased to provide an update on its activities since entering nickel production in June 2007.

Significant milestones since June 2007:

• Commissioning of the Särkiniemi West Open Pit
• Smooth transition of the Hitura Mine operations to Belvedere
• Hitura North mine deeps programme initiated with 1.5 M euro ($2.2 M CAN) decline extension
• A 3.5 M euro ($5 M CAN) exploration project initiated on the Hitura Mid and South Intrusions
• Successful blending of Särkiniemi and Hitura ores to make a combined concentrate
• Securing a separate offtake agreement for Särkiniemi West – exposing those ores to LME pricing
• Additional mill and concentrate facilities acquired, to form the nucleus of the Kotalahti production centre
• Definition drilling commenced on Särkiniemi East and Hautalampi projects

David Pym, CEO, states;

“We have comfortably met our targets in the first four months of operations with production totalling over 969 tonnes of nickel in concentrate. The successful transition from exploration company to producer is largely thanks to the hard work and professionalism of our Finnish production team who have supported the operation throughout, and competently managed all operational challenges. Existing production is running smoothly and we are well on the way to commissioning a second production centre in the Kotalahti area and initiating the second phase of production growth.”

Nickel Production

During the last four months Belvedere has produced 969 tonnes of nickel in concentrate. The bulk of the nickel has come from the Hitura mine but importantly around 22% of the total has come from the Särkiniemi West satellite operation. Särkiniemi West open-pit ore will continue to be milled at Hitura till the end of January. Underground production is scheduled to come on stream in Q2 2008.

Mill Feed

Concentrate Produced

Concentrate is delivered to Norilsk Nickel – Finland’s Harjavalta refinery. The mixed concentrate is subject to different payables; the Särkiniemi concentrate is subject to nickel LME market price, while the Hitura concentrate is locked into a legacy offtake agreement until the end of June 2008.

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,200 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD.
David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere awarded Hirsikangas Gold Property in Finland through Public Tender

Vancouver, British Columbia, November 9, 2007. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that it’s 100% owned subsidiary Belvedere Resources Finland Oy has been awarded the Hirsikangas Gold Property that was put to public tender on March 2nd 2007 by the Finnish Ministry of Trade and Industry (MTI).

David Pym CEO states “The gold mineralisation occurs in a new area in Finland and is perhaps the most significant gold discovery in Finland in the last 10 years. The initial drilling by the GTK has outlined substantial gold mineralisation along a strike length of at least 500m. The mineralisation is sparsely drilled but appears to
be open in all directions. It appears broadly analogous to many of the new gold discoveries along the “gold line” in Sweden. We are extremely happy with the acquisition and believe it adds significantly to our existing gold portfolio in the region ”

The Hirsikangas Gold Property is an orogenic, shear zone hosted gold deposit located in western Finland, 65 km northwest of Belvedere’s Hitura Nickel Mine. The property consists of two claims covering about 150 hectares.

The Geological Survey of Finland (GTK) discovered the source of a gold mineralised boulder in 2004, and during the period 2004 – 2006 conducted an exploration program consisting of: boulder tracing, bedrock mapping, geophysical surveys (magnetics and IP), petrological and mineralogical studies, geophysical surveys and diamond drilling totalling 4094 m over 32 drillholes. Although the density of drilling was not sufficient to estimate a resource, it showed that gold mineralisation occurs within a sheared and altered host rock (felsic schist) that is mineralised along a strike length of at least 800-1000 m. Some of the better intersections drilled by the GTK include:

Initial studies suggest the gold occurs freely in grain sizes up to 1-2 mm and is associated with cracks and boundaries of silicate minerals and rarely with sulphides.

An environmental baseline study has already been completed on the property and there are no protected areas within the vicinity.

More information can be found on the GTK’s website : http://en.gtk.fi/ExplorationFinland/Commodities/Gold/hirsikangas.html

The drilling was undertaken by several contractors, providing 40—42 mm diameter core. Samples are comprised of half diamond core. Core samples were sawn in half, and prepped and assayed at the accredited GTK laboratory in Kuopio, Finland. Gold was assayed by 10 – 50g fire assay with an ICPAES finish. The quality assurance-quality control (QAQC) program of the samples was that typically employed by the accredited GTK laboratory in Kuopio. The remaining half core has been retained for verification and reference purposes.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD. David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838
or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere acquires Luikonlahti Mill and Concentrate Facility in Eastern Finland

Vancouver, British Columbia, October 9, 2007. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that it’s 100% owned subsidiary Finn Nickel Oy has acquired the Luikonlahti mill and concentrate facility from talc producer, Mondo Minerals Oy of Finland.

The Luikonlahti facility is located in eastern Finland, close to a number of Belvedere’s 100% owned nickel projects in the Outokumpu and Kotalahti mining districts. The deal consists of 35 hectares of land and buildings, a valid mining lease, tailings dam, and an assay laboratory.

David Pym, CEO comments “This acquisition represents a significant step in expanding Belvedere’s production capacity. The mill is ideally located for processing ore from Belvedere’s eastern Finland operations, has been well maintained and is in excellent condition. The tight supply of processing equipment globally, means this acquisition adds substantial value at low cost to the company, and enables the fast-track commissioning of our second production centre in Finland.”

The Luikonlahti concentrate facility was commissioned in 1968 with a nominal capacity of 500,000 tonnes per annum of copper-cobalt-zinc ore. Mondo Minerals Oy purchased the facility in the early 1980’s, and converted it to talc-nickel production. At this time, one of the 3 mills was removed leaving a capacity of 200,000 tonnes per annum talc ore. The Luikonlahti mill was in production until December 2006, and since then the facility has been under care and maintenance.

The purchase price is €1.2 million (approx. $C 1.68 million) plus VAT, with an additional payment of €300,000 (approx. $C 420,000) plus VAT conditional on the awarding of an environmental permit for continuation of operations on site. Should production commence on site, a royalty is payable on the first 7000 tonnes each of nickel and copper produced in concentrate. The royalty commences from 0 euros/tonne at a nickel price of 12,128 USD/tonne and increases linearly up to a maximum of 410 euros/tonne at a price of 29,700 USD/tonne. In similar fashion, the copper royalty commences at a price of 3,528 USD/tonne and increases linearly up to a maximum of 94 euros/tonne at a price of 7,667 USD/tonne. The royalty is payable until aggregate metal contents are reached or December 2013, whichever is the sooner.

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,200 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland.

Forward Looking Statement:
Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements in this release include statements regarding any future production of concentrate at Luikonlahti, from any of its projects. It is important to note that the Company’s actual results could differ materially from those in such forward-looking statements.

This statement is prepared by Dr. Toby Strauss, who is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release.

BELVEDERE RESOURCES LTD. David Pym, CEO
Suite #404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.