Private Placement

Belvedere Resources Ltd. (the “Company”) is pleased to announce that it has arranged a private placement with Middlemarch Partners Limited acting as portfolio managers of up to 1,800,000 units at $ 0.55 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one share for a period of 12 months at a price of C$ 0.80. The Company will pay Middlemarch Partners Limited a fee of $ 39,600 in respect of the private placement. The Company will receive gross proceeds of up to $ 990,000 of which the net proceeds will be applied to the general working capital of the Company.

As the Company has filed an annual information form under the SHAIF System these securities will be eligible for a four month hold period rather than a 12 month hold period.

The issuance of the common shares are subject to regulatory acceptance.

BELVEDERE RESOURCES LTD.

Andrew Aylwin
President
For further information, please contact:
Andrew Aylwin: 011-44-7779-128125
Steve Cuthill: 1-604-408-0550

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