Belvedere Commences Drilling at their Osikonmaki Gold Deposit

Belvedere Resources Limited is pleased to announce that definition drilling started today at its 100% owned Osikonmäki gold deposit in Southern Finland.

Belvedere has contracted Suomen Malmi Oy (SMOY) to drill a 750 – 1000 metre diamond drill program designed to improve the confidence and grade of the existing historical resource at Osikonmäki East and extend mineralization up-dip.

The drilling will extend eastwards from the 1,000 kg bulk metallurgical sample, averaging 5.7 g/t Au blasted from outcrop by the Geological Survey of Finland in 1987*. Drilling is planned on an 80×40 metre grid, targeting the near-surface up-dip extents of known mineralization along a strike length of over 400m.

A map of the planned drill program can be found at the company’s website at www.belvedere-resources.com.

*Leppinen, Jaako & Kontoniemi, Olavi 1998. Beneficiation study of the Osikonmaki refractory type gold ore at Rantasalmi southeastern Finland. Geological Survey of Finland, Special Paper 25. 101-110

This statement is prepared by a qualified person, Dr. Toby Strauss under the terms of National Instrument 43-101.