Belvedere Commissions New Nickel Mine in Finland and appoints new Director



    Exchange: TSX V Symbol: BEL

    VANCOUVER, June 4 /CNW/ - Belvedere Resources Ltd is pleased to announce
that its 100% owned subsidiary, Finn Nickel Ltd (Suomen Nikkeli Oy), has
received all mining approvals and started blasting waste rock in the new open
pit over the Sdrkiniemi West Orebody at the Sdrkiniemi Nickel Mine, eastern
Finland. First ore shipments are scheduled for late June at a rate of six to
ten thousand tonnes/month for a period of 10 months. Ore will be transported
to the concentrate facilities at the Hitura Nickel Mine, located in Nivala
town. The nickel copper concentrate will be delivered to Norilsk Nickel
Finland Oy's smelting and refining facilities at Harjavalta, Western Finland.
    Infill definition drilling will be started over the Sdrkiniemi East
mineralisation in July, to upgrade the resource status in preparation for a
desktop mining study. This drill program is part of a much larger summer
drilling campaign covering several Finn Nickel projects in the Kotalahti
region, including further delineation drilling on the Valkeisenranta nickel
project.
    Belvedere's CEO David Pym comments, "The commissioning of Sdrkiniemi
represents the successful implementation of the first phase of the Finn Nickel
business plan and is a tribute to the commitment and experience of the Finn
Nickel team. A further two mines are planned for commissioning in the
Kotalahti region over the next three years, capitalising on Finn Nickel's
strong internal growth profile."
    In addition, Belvedere Resources Ltd is pleased to welcome Mr Vesa-Jussi
Penttild to the Board of Directors. Mr. Penttild brings a wealth of mining
experience to the board. He was General Manager of the Hitura Nickel Mine
between 1988 and 2000 and was Vice President - Exploration, Precious Metals
Mining, with Outokumpu Mining Oy between 2000 and 2004. Since 2004 V-J
Penttild has been Chairman and CEO of Finn Nickel Ltd.

    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 plans and objectives of the Company are forward
looking statements that involve various degrees of risk. Forward-looking
statements in this release include statements regarding the Company's expected
future production of nickel ore from the Sdrkiniemi mine, the results of
further drilling on Sdrkiniemi East, as well as the future commissioning of
two further mines (Riihilahti and Valkeisenranta) over the next three years.
It is important to note that the Company's actual results could differ
materially from those in such forward-looking statements. Factors that may
affect expected future production and the opening of two further mines include
typical problems or delays with mining and processing, failure to convert
resources into mineable reserves, environmental and legal permitting problems,
as well as external factors such as lower commodity prices. 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 RE

SOURCES LTD. David Pym, CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release. %SEDAR: 00005717E

For further information:

For further information: David Pym: +44-7931-371869; Toby Strauss:
+353-87-9870344; Steve Cuthill: (604) 513-0007

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BELVEDERE RESOURCES LTD.

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