Pyhäsalmi Mine Oy commences drilling on Belvedere’s Arkala zinc- copper property, Finland

Posted on Friday February 16, 2007

Belvedere Resources Ltd. (the “Company”) is pleased to announce that Pyhäsalmi Mine Oy (PMOY), a wholly owned subsidiary of Inmet Mining Corporation of Canada, is now drilling on Belvedere’s Arkala zinc-copper property in Central Finland. PMOY owns and operates the nearby Pyhäsalmi Mine. PMOY signed an earn-in agreement in June 2006 on the Arkala property.

PMOY completed a PROTEM Electromagnetic (EM) ground geophysical survey along the western extents of the Arkala property by the end of 2006. The programme covered an eight kilometre strike of altered felsic volcanics hosting numerous occurrences of copper and zinc mineralisation outlined by Belvedere in previous exploration. This package of rocks forms the strike extents of the now closed Mullikkoräme zinc, copper, gold mine.

The PROTEM survey highlighted several untested EM conductors in the right stratigraphic position for Mullikkoräme type mineralisation. A drill programme totalling 855 metres in five holes is planned. The drillhole plan can be viewed on the company’s website http://www.belvedere-resources.com.

It is estimated by the end of 2007 PMOY will have completed it’s earn in obligations for 75% of the Arkala property. After which each party can contribute on a pro-rata basis or dilute to a 1% NSR.

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 the future expenditure of PMOY on the Arkala project. 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
For further information, please contact:
David Pym: +44-7931-371869
Steve Cuthill:+1-604-408-0550
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.