Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

September 16, 2011 18:58 ET

Belvedere Grants Options to Investor Relations Firm

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 16, 2011) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere" or the "Company") today announced that the Board of Directors approved the granting of the option to acquire 400,000 common shares (the "Options") at an exercise price of $0.185 per share to Humbercrest Capital as part of the compensation package for Investor Relations services to be provided to the Company. The Investor Relations Agreement with Humbercrest Capital was announced in a news release dated August 16, 2011. The Options will vest as follows: 25% three months after the date of the grant and an additional 25% each three month period thereafter until the Options granted to Humbercrest are 100% vested. The Options expire on September 16, 2016. The primary focus of the planned investor relations campaign is to introduce Belvedere to a wider audience within the North American investment community including investment advisors, sell side analysts and certain institutional investors.

The Investor Relations Agreement and the grant of the Options are conditional upon acceptance by the TSX Venture Exchange.

About Belvedere:

Belvedere Resources Limited is a mining company incorporated in British Columbia with a primary focus on nickel, gold, cobalt and copper in Finland. The Company currently produces 2500t of nickel in concentrate/year from the Hitura nickel mine in Central Finland. The Company has a number of advanced gold projects in close proximity to the Hitura mine.

BELVEDERE RESOURCES LTD.

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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