Belvedere Resources Ltd.
TSX VENTURE : BEL

Belvedere Resources Ltd.

July 12, 2010 19:31 ET

Belvedere Signs Mandate to Issue Convertible Debt

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2010) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") announces that it has signed an exclusive mandate with Investec Resources for the issuance of up to two million euros as a convertible debenture. Proceeds will be applied to working capital and financing feasibility studies for the Kopsa gold deposit. The mandate is non-binding to both parties and is subject to final due diligence and internal credit control arrangements by Investec. A break fee must be paid by Belvedere should the arrangement be terminated during the period of the mandate.

About Belvedere:

Belvedere Resources Limited is a Canadian incorporated mining company with a primary focus on gold, nickel, copper and cobalt in Finland. Work is currently underway to recommence mining at the Hitura Nickel Mine, with production expected in August/September 2010. In addition, the company has a considerable portfolio of advanced gold properties in Finland and plans to use the extensive mining experience developed in the company to rapidly progress these towards production.

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

Contact Information

  • Belvedere Resources Ltd.
    David Pym
    CEO
    +1-604-844-2838
    or
    Belvedere Resources Ltd.
    Toby Strauss
    COO
    +1-604-844-2838
    or
    Belvedere Resources Ltd.
    Suite #404, Vancouver World Trade Centre
    999 Canada Place, Vancouver. BC. V6C 3E2, Canada
    www.belvedere-resources.com