VANCOUVER, BRITISH COLUMBIA, Jul. 12, 2010 (Marketwire) -- 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.
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.