Belvedere Resources Limited: Significant New Gold Discovery on Antikanperä Property

VANCOUVER - Sept. 19, 2012 - Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") is pleased to announce results from a sixteen hole, 1367 metre drill campaign at their 100% owned Antikanperä gold property in Finland, located 35km north of Belvedere's Hitura Nickel Mine. The property covers a 10 km2 area containing numerous gold anomalies in till and bedrock associated with a geophysical signature similar to other gold properties in the area. The drill results are presented in Table 1.


Highlights:

- All five holes drilled at the Pöntio Target intercepted significant widths of gold mineralisation

- Best intersection to date is 62 m @ 1.1 g/t Au including 14.8 m @ 2.3 g/t Au

- High grade gold in quartz veins intersected in BELANP007 in a separate target some 1.3 km to NE

- Many anomalies on property remain to be tested

David Pym CEO comments: "We have waited six years to be able to drill-test this property from when management first identified the area as a high priority target for Intrusive Related deposits similar to Fort Knox in the Alaska/Yukon Tintina Gold Province. These deposits are typically very large with > 3 million oz's of contained gold. Drilling at the Pöntio target to date has intersected consistent mineralisation over considerable widths, which is a good first indication of size potential. A ground geophysical survey is underway to try and determine extents to the mineralisation and guide the next phase of drilling on that target. This is an exciting time for the company, with more than half of the high priority targets on the property still remaining to be tested."

HOLE_ID 	From(m) 	To(m) 	Interval(m) 	Au g/t 	Cu ppm 	Gram Metres
BELANP007 	27.97 	28.3 	0.33 	15.35 	50 	5.1
BELANP011 	24.99 	45.84 	20.85 	1.13 	499 	23.6
BELANP012 	8.95 	81.05 	72.1 	0.88 	621 	63.1
Including 	59.24 	78.02 	18.78 	1.34 	583 	25.1
BELANP013 	19.14 	81.18 	62.04 	1.08 	614 	67.1
Including 	53.22 	68.04 	14.82 	2.29 	1220 	33.9
BELANP014 	25.3 	32.2 	6.9 	1.01 	704 	7.0
BELANP014 	38.26 	43.15 	4.89 	0.95 	280 	4.6
BELANP014 	54.12 	78.18 	24.06 	1.44 	498 	34.6
BELANP015 	5.5 	12.61 	7.11 	0.63 	367 	4.5
BELANP015 	18.87 	21.84 	2.97 	1.85 	1043 	5.5
BELANP015 	27.01 	50.7 	23.69 	1.44 	668 	34.0
Including 	27.01 	36.07 	9.06 	2.32 	729 	21
BELANP015 	73.29 	77.14 	3.85 	0.83 	482 	3.2

Table 1: Intersections using a 0.5 g/t Au cut-off. No top cut is applied. Maximum grade is 15.35 g/t Au over 0.35 m, one of four individual samples over 5 g/t Au. Intersections are estimated to be 70-90% of true width.


Belvedere staked a claim Reservation, over the property in 2006 and after completing a compilation of historical data, exploration claims were applied for in 2007 and were finally granted in late 2010 after substantial delays in the claim processing due to legislative changes around the implementation of the new mining law in Finland.

The Pöntio gold mineralisation is hosted primarily in Proterozoic aged dioritic sills/dykes intruded into interpreted turbidite sequences that have been metamorphosed to upper amphibolite facies. Gold mineralisation appears to be associated with quartz veins and silicification, is highly strained and appears to predate peak metamorphism. Overall sulphide content is low with chalcopyrite and pyrrhotite being associated with gold mineralisation ± trace arsenopyrite. Mineralisation sub-crops under 3-5m of overburden, strikes in a northerly direction and appears to dip steeply to the east. It is at least 60 m in true width and has been intersected on four 50 m spaced profiles, giving a strike length of at least 200m to date. The mineralisation is largely confined to the diorite sills/dykes, with the mica gneiss being mineralised only in the contact zone. Limited drilling and outcrop sampling has detected further gold, copper anomalous sills/dykes to the south, east and west which warrant further follow up.

BELANP001-7 were drilled on the 4km long M1 trend, with BELANP007 being the only drill hole to intersect significant mineralisation on this trend to date. BELANP008-15 were drilled on the M2 trend, with BELANP008-10 targeting geophysical anomalies and BELANP011-15 all being drilled into the Pöntio geochemical target some 500m to the south.

Hole_ID 	x 	y 	z 	azimuth 	dip 	length
BELANP001 	2549168 	7121998 	84.888 	268.7 	45 	89.3
BELANP002 	2548836 	7121996 	83.401 	96 	45 	44.35
BELANP003 	2548918 	7122012 	85.91 	273.8 	45 	102.65
BELANP004 	2549187 	7122203 	82.113 	275.1 	45 	75.75
BELANP005 	2549140 	7122215 	82.03 	279.1 	45 	79.9
BELANP006 	2549197 	7122393 	81.305 	277.7 	45 	80.55
BELANP007 	2548876 	7122855 	81.02 	272.9 	45 	77.35
BELANP008 	2548053 	7122804 	81.968 	92.6 	45 	98.6
BELANP009 	2548050 	7122804 	81.867 	273.1 	45 	83.2
BELANP010 	2548134 	7122518 	82.863 	277 	45 	90.05
BELANP011 	2548106 	7121756 	85.055 	269.1 	45 	85.85
BELANP012 	2548141 	7121755 	85.468 	271 	45 	119.45
BELANP013 	2548143 	7121807 	86.859 	271 	45 	90.65
BELANP014 	2548140 	7121709 	85.658 	271 	45 	83.25
BELANP015 	2548131 	7121853 	85.275 	269 	45 	89.15
BELANP016 	2548897 	7122855 	80.703 	267 	45 	76.45

Table 2: Details of drillhole locations


The drilling was undertaken by Drillcon SMOY of Finland, providing 42 mm diameter core. Samples are comprised of half diamond core. Intersections are estimated to be 70-90% of true width. No top cut is applied. Maximum grade is 15.35 g/t Au over 0.35 m, one of four individual samples over 5 g/t Au. Core samples are sawn in half on site, prepped and assayed by 30g fire assay with an AAS finish at the internationally accredited laboratories of ALS Chemex in Finland. The quality assurance-quality control (QAQC) program of Belvedere consists of the insertion of certified standards of known gold content every 20 samples, with blanks at the beginning of each batch. In addition, ALS Chemex inserts a number of blanks and standards into the analytical process. Standards, blanks and duplicates make up approximately 15% of the samples assayed. The remaining half core is retained on site for verification and reference purposes.


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 currently produces 2200t of nickel in concentrate/year from the Hitura nickel mine in Central Finland. The Company has a number of advanced gold projects in close proximity to the Hitura mine.


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 future drillingand interpreted continuity of the new mineralised zones) 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.


Qualified Person

The technical aspects of this statement have been prepared by Dr Toby Strauss (CGeol), Chief Operating Officer of Belvedere Resources Ltd, who is acting as a Qualified Person in compliance with National Instrument 43-101 with respect to this release. Dr Strauss has verified the data supporting this press release. Verification included checking the data to the original Laboratory certificates, examining photographs of the core, and reviewing the geological interpretation.


BELVEDERE RESOURCES LTD.

David Pym, CEO


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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contact

Humbercrest Capital Inc.
Scott Findlay
1 647 274 2536
www.belvedere-resources.com