Belvedere Closes Non-Brokered Private Placement (Revised)

Belvedere Resources Ltd. (TSX VENTURE:BEL) ("Belvedere") is pleased to announce
that it has closed the non-brokered private placement previously announced on
July 4, 2014 and has issued 5,000,000 common shares at a price of C$0.16 per
share for gross proceeds of C$800,000. The shares issued pursuant to this
private placement are subject to a hold period of four months and one day,
expiring November 30, 2014. 


A director and officer of Belvedere has acquired securities under the private
placement. Such participation is considered a related party transaction as
defined under Multilateral Instrument 61-101 ("MI 61-101"). This acquisition is
exempt from the formal valuation and minority shareholder approval requirements
of MI 61-101 as neither the fair market value of the securities issued to or the
consideration paid by such person exceeds 25% of Belvedere's market
capitalization. 


The net proceeds from the private placement will be applied to the general
working capital of the Company and to develop mineral assets. The private
placement is subject to final acceptance by the TSX Venture Exchange. A finder's
fee will be payable in an amount not to exceed 5%, and such finder's fee will be
subject to TSX Venture Exchange acceptance.


BELVEDERE RESOURCES LTD.

David Pym, CEO; Suite #404, Vancouver World Trade Centre, 999 Canada Place,
Vancouver, B.C. V6C 3E2, Canada


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
[phone]


Belvedere Resources Ltd.
Steven Cuthill
CFO
[phone]
www.belvedere-resources.com