Belvedere Resources Ltd.: Proposed Private Placement and Share Consolidation

Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") announces that it is
proposing to undertake a non brokered private placement to raise up to C$ 1.0
million through the issuance of up to 66,666,667 common shares of Belvedere at a
price of C$ 0.015 per share on a best efforts basis. In addition, the directors
of Belvedere are proposing that after the private placement Belvedere
consolidate its issued and outstanding common shares at a rate of nine
pre-consolidation shares to one post-consolidation share and intend to convene a
special meeting of shareholders of Belvedere for purposes of considering a
resolution to approve such proposed consolidation. The directors intend that
such special meeting will be convened and held by the end of February, 2014, and
that, if the consolidation is approved, the board of directors currently intends
to implement the consolidation as soon as practicable following the approval of
the consolidation by the shareholders and the TSX Venture Exchange. Belvedere
currently has 151,812,291 common shares issued and outstanding. If the share
consolidation is approved and completed, that would result in there being
approximately 24,275,440 common shares issued and outstanding, assuming that
66,666,667 pre-consolidation shares are issued under the private placement.
Belvedere does not anticipate that its name will be changed in conjunction with
the consolidation.


Management and the directors of Belvedere believe that the proposed
consolidation is in the best interests of Belvedere and its shareholders and is
necessary in order to provide Belvedere with an authorized share capital
structure that will position the company to better attract equity financing.


The net proceeds from the private placement will be applied to the general
working capital of the Company and to develop mineral assets.


Directors and officers of Belvedere may acquire securities under the private
placement. Any such participation would be considered a related party
transaction as defined under Multilateral Instrument 61-101 ("MI 61-101"). The
transaction will be exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 provided that neither the fair market value
of any securities issued to or the consideration paid by such persons will
exceed 25% of Belvedere's market capitalization, which is anticipated to be the
case.


The private placement and proposed consolidation are each subject to acceptance
and approval by the TSX Venture Exchange.


BELVEDERE RESOURCES LTD.

David Pym, CEO

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 this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Belvedere Resources Ltd.
David Pym
CEO
+1-604-844-2838


Belvedere Resources Ltd.
Steven Cuthill
CFO
+1-604-513-0007
www.belvedere-resources.com

Belvedere Resources Ltd. (TSXV:BEL)
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