Belvedere Resources Ltd

Belvedere Signs New Off-take Agreement

Vancouver, British Columbia, Belvedere Resources Ltd. BEL: TSX-V (“Belvedere” or the ‘Company’) is pleased to announce that it has signed a new off-take agreement for its nickel concentrate with Jinchuan Group in China. This will replace the Company’s existing off-take agreements which expire at the end of June 2008. Belvedere welcomes the opportunity to commence a partnership with Jinchuan Group which has shown considerable interest in Belvedere’s product and has followed the Company’s development since the initial move into production in June 2007.

Effective July 1, 2008 Belvedere’s nickel concentrate will be sold at prevailing LME rates resulting in a material increase in revenues, margins and cash flows. All of the Hitura mine’s production to date has been subject to a fixed price agreement paying considerably less than current LME pricing levels.

David Pym, CEO, commented;
“This agreement is extremely important for the Company as it signifies the end of the fixed price legacy off-take agreement acquired with the purchase of the Hitura Mine. Previously approximately 80% of nickel production was subject to a fixed price agreement paying considerably less than current LME pricing levels. The new agreement should contribute substantially to revenues allowing management to fast track their development projects in the Kotalahti area”

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,500 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland, and its 100% owned Särkiniemi Nickel Mine in Eastern Finland.

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 future revenues, mining rates, drilling plans and exploration results, and future plans and objectives of the Company 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.

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.

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Belvedere Reports 2007 Financial and Operating Results

For full version of this release please click here

Vancouver, British Columbia, Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that is has filed it’s audited consolidated financial statements and management discussion and analysis (MD&A) for the financial year ended December 31st, 2007 with the Canadian securities regulators. All results and filings are also available for review on SEDAR. All figures are reported in Euro’s.

Highlights
•Belvedere reports first revenues of €14.8 million from mining operations at the Hitura and Särkiniemi Nickel Mines in Finland started in June 2007
•Production for the first nine months of operations of 2,040 metric tons (mt) of nickel in concentrate, fully in line with managements target
•First operating profit recorded in Q4 2007 of €34,180
•Positive operating margins for first two quarters of operations

Revenues for 2007 totalled €14.8 million with operating costs totalling €15 million prior to depletion, depreciation, amortization and stock-based compensations resulted in an operating loss of € 0.2 million overall.

This loss was primarily due to heavy exploration and development investment in operations, in combination with Hitura production being sold under a legacy fixed price sales contract. This contract yielded an approximately 40% lower average nickel sale price compared to the Särkiniemi sales over the same period, lowering Hitura revenues for the period by approximately € 7 million. This sales contract will continue to negatively affect revenues for the first half of 2008 until it expires in June. Despite this handicap fourth quarter figures were in profit.

Net loss for the year ended December 31st, 2007 was €4.7 million or €0.07 per share, compared to a loss of €0.9 million or €0.03 per share reported for fiscal 2006.

Revenues for the quarter ended December 31, 2007 (Q4) of €7.7 million, (Q3 €6.8 million,) yielded a positive operating margin of € 0.58 million before depletion, depreciation and amortization and stock-based compensation. Overall the Company reported a small net profit of €34,000 or €0.01 per share, which compares with a loss of €3.6 million or €0.07 per share for the previous quarter and a loss of €0.6 million or €0.01 per share reported for the same period of fiscal 2006. Stock based compensation expenses caused the large increase in reported losses in the third quarter of fiscal 2007.

David Pym, CEO commented; “We are pleased to present our 2007 results generating maiden revenues from our two mines which commenced operation in June, fully in line with our original expectations. We remain strongly committed to growing our business further in 2008 when a new offtake agreement will come into effect, significantly increasing our revenues.”

Outlook for 2008:
•Belvedere is continuing to invest heavily in exploration and development to support rapid production growth. Investment is predominantly focussed on near mine resource development around the Hitura and Kotalahti Production Centres. Definition drilling will commence in the Pori area.
•Significant emphasis is being placed on developing our gold business, with a large programme of resource delineation drilling commencing in Q2, 2008.
•The fixed price agreement for the Hitura concentrate expires on June 30, 2008 and effective July 1, 2008, all of Belvedere’s base metal concentrate will be exposed to LME pricing.
•Subject to positive feasibility studies and permitting approvals, the second production centre in the Kotalahti district is scheduled to come on stream in 2009. The Luikonlahti mill will be commissioned with ore from the nearby Hautalampi deposit.
Further Details Presented Below:

Effective January 1, 2007, the Company changed its measurement and reporting currency from the Canadian dollar (“Cdn$”) to the Euro (“€”). For year ending December 31, 2006 and all prior reporting periods, the Company reported its financial statements in Canadian dollars so all comparative figures disclosed in these 2007 financial statements have been restated to the Euro.

Belvedere commences 5,000 m diamond drilling programme on their Hirsikangas Gold Property in Finland

Vancouver, British Columbia, April 16th, 2008. Belvedere Resources Ltd. BEL:TSX-V (“Belvedere”) is pleased to announce that it has started a 5,000 metre diamond drilling programme on its 100% owned Hirsikangas Gold Property, Finland.

Historical drilling on 50-100m spaced profiles across the gold bearing structure, has intersected gold mineralisation over a strike length of at least 1000m and remains open along strike and at depth. The drilling programme is aimed at verifying and infilling previous drilling to produce an NI 43-101 compliant resource estimate.

David Pym (CEO) comments “This drilling programme is the start of an aggressive resource delineation phase within our gold projects in Finland. The Hirsikangas project is one of several similar advanced gold projects in the area within an 80 km radius of Belvedere’s Hitura Nickel Mine. The area is developing into a significant gold district in which Belvedere is the principle claim holder, with obvious synergies with existing mining operations.”

The Hirsikangas Gold Property is an orogenic, shear zone hosted gold deposit, located in western Finland, 65 km northwest of Belvedere’s Hitura Nickel Mine. The property consists of two claims covering about 150 hectares.

The Geological Survey of Finland (GTK) discovered the source of a gold mineralised boulder in 2004, and during the period 2004 – 2006 conducted an exploration program consisting of: boulder tracing, bedrock mapping, geophysical surveys (magnetics and IP), petrological and mineralogical studies, geophysical surveys and diamond drilling totalling 4094 m over 32 drillholes. Although the density of drilling was not sufficient to estimate a resource, it showed that gold mineralisation occurs within a sheared and altered host rock (felsic schist) that is mineralised along a strike length of at least 1,000 m.

Historically drilled intersections were announced by Belvedere in a press release on 9th November 2007. Current modelling suggests the main zone of mineralisation has a true thickness from 4 – 20m and averages 1.5-2.5 g/t gold although higher grade intervals are reported (e.g. 7.40 m @ 9.2 g/t Au). Preliminary studies suggests gold is predominantly free and is associated with quartz grain boundaries

More information on the Hirsikangas property can be found on the GTK’s website

About Belvedere:
Belvedere Resources Ltd. is a publicly-listed resource company engaged in the business of nickel production and exploring, discovering and developing mineral wealth in Finland. Belvedere currently produces 2,400 tonnes annually of payable nickel metal in concentrate from its 100% owned Hitura Nickel Mine in Western Finland.

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 future mining rates, drilling plans and exploration results, and future plans and objectives of the Company 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.

Belvedere takes no responsibility for the accuracy of information found on the GTK website.

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

For further information, please contact David Pym (CEO) or Toby Strauss (COO) at +1-604-844-2838 or visit www.belvedere-resources.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.