May 14, 2014 16:16 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2014) - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("The Company") is pleased to announce that in response to the recent recovery in nickel prices it has initiated further tests to improve the marketability of nickel concentrate from the Hitura Mine open-pit.
Previous test mining during 2013 indicated that the open-pit ores, when blended with Hitura underground ores, produced a good concentrate; but that open-pit ore alone produced a low nickel tenor concentrate. The Company has dispatched samples for further flotation test work aimed at boosting the concentrate grades and recoveries from the Hitura open pit ores.
The open-pit at Hitura is fully permitted to be mined and is readily accessible. Currently, there are no plans to restart pumping at the underground operations. Meanwhile the Company continues with its Feasibility Study on the Kopsa gold copper project.
Forward Looking Statement: Some of the statements contained herein may be forward-looking statements, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company (including statements relating to possible re-commencement of production at Hitura and the improved marketability of nickel concentrate) are forward-looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.
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 produced 2,200t of nickel in concentrate in 2012 from its Hitura nickel mine in Central Finland which was put into care and maintenance in June 2013. The Company has a number of advanced gold projects in close proximity to the Hitura mine. The Company is focused on completing the feasibility study for its Kopsa gold copper project.
BELVEDERE RESOURCES LTD.
David Pym, CEO
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 this release.
Belvedere Resources Ltd.David PymCEO1-604-844-2838Belvedere Resources Ltd.Steven CuthillCFO1-604-513-0007www.belvedere-resources.com
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