Exchange: TSX V Symbol: BEL
VANCOUVER, Oct. 2 /CNW/ - Belvedere Resources Ltd. BEL:TSX-V
("Belvedere") is pleased to announce that concentrate deliveries have
commenced from the Hitura mill in Finland to Jinchuan Group in China. The
first shipment of approximately 2000 dry metric tonnes of nickel, copper
cobalt concentrate has left from Rauma Port in Finland, today. Shipments will
continue weekly at the current rate until inventory backlogs are cleared by
the end of October.
David Pym CEO comments, "Management is extremely pleased that deliveries
into the new offtake agreement have now commenced. Now the system is in place
the Company can look forward to rapidly clearing the inventory backlog and a
regular shipment schedule in the future. Production from the Sarkiniemi and
Hitura Nickel mines is on target to meet the goal of 2500 t of nickel metal in
concentrate for 2008 our first full year of production."
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.
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
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
David Pym, CEO
Suite No. 404, Vancouver World Trade Centre
999 Canada Place, Vancouver. BC.
V6C 3E2, Canada
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of the contents of this news release.
For further information:
For further information: David Pym (CEO) or Toby Strauss (COO) at (604)
844-2838 or visit www.belvedere-resources.com