Welcome!

News Feed Item

Belvedere Resources Limited: Disclosure Clarification

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/08/13 -- Belvedere Resources Limited (TSX VENTURE:BEL) ("The Company") announces as a result of a review by the British Columbia Securities Commission (BCSC), we are issuing the following news release to clarify our disclosure.

The issues identified by the BCSC involve the 2012 progress report and the September 2012 Corporate Presentation titled Investor Update and the Company website as detailed below. The Company retracts this presentation in its entirety and an updated presentation has been placed on the Company website. The Company retracts the 2012 progress report and has removed it from the Company website. The Company has clarified its disclaimer on the website in accordance with the issues identified below. The Company takes these issues very seriously and new systems have been put in place to make sure that the Company's current and future disclosure complies fully with NI 43-101.

Technical Disclosure Issues

1. Non-Compliant Disclosure of Mineral Resources

In its corporate presentation of September 2012, and on the Company's 2012 progress report which were available on the Company website, a number of issues were identified with the way in which the Company reported mineral resources that are contrary to NI 43-101:

a) Inferred mineral resources were added to other categories of resources.

b) The Company failed to disclose each category of mineral resources or mineral reserves separately.

c) The Company disclosed resources solely in the form of metal content.

The summary resources table which detailed the categories, tonnages and grades of the mineral resources for each project was inadvertently missing from the end of the September 2012 corporate presentation.

2. Restricted Disclosure

In both the corporate presentation of September 2012 and the 2012 progress report, the Company had added historical estimates to its current mineral resources, giving the impression that it was treating them as current resources. Subsequent to the dates of these reports, an NI 43-101 compliant resource estimate was announced for the Kopsa Au-Cu project (News Release, 29th October, 2012). The remaining historical resources are such a minor component of the Company's resource base that all references to historical resources have now been removed from the Company's disclosures. Consequently, the misleading historical figures have now been replaced or removed, and all Company disclosures (website, presentations etc) have been checked and replaced with the updated figures compliant with the requirements of NI 43-101.

3. Qualified Person

On its website, 2012 progress report and corporate presentation, the Company failed to properly identify, and disclose the relationship to Company, of the qualified person who approved, prepared or supervised the preparation of the technical information. The Company has now added the relationship of the Qualified Person to the Company and states that the qualified person prepared and approved the technical information contained within the relevant website and other disclosures.

For purposes of clarity, the Company retracts all previous references to its gold resources from the aforementioned disclosures, and replaces them with the following summary resources table, detailing the categories, tonnages and grades of the mineral resources listed above, as well as the titles and dates of the relevant supporting Technical Reports.

To see the resource table, please select the following link:

http://media3.marketwire.com/docs/bel_800.jpg

Relevant Technical Reports


--  "Mineral Resource Estimate of the Rantasalmi Gold Project in Finland"
    filed on SEDAR October 19th, 2011, prepared by Alexandra Akyurek (CSci,
    MSc MIMMM) acting as an Independent Qualified Person according to NI 43-
    101. 
    
--  "Kopsa Gold-Copper Deposit, Central Ostrobothnia, Finland" filed on
    SEDAR 29th October 2012, has been prepared under the supervision of
    Pekka Loven (MSc), MAusIMM(CP) #301822, who is acting as an Independent
    Qualified Person in compliance with NI 43-101. The results were first
    disclosed in a press release dated 29th October, 2012. 
    
--  "Hirsikangas Gold Deposit, Central Ostrobothnia, Finland." filed on
    SEDAR 30th November, 2009, prepared by Thomas Lindholm MSc (FAusIMM)
    acting as an Independent Qualified Person according to NI 43-101. 
    
--  "The Kiimala Property, Central Ostrobothnia, Finland." filed on SEDAR
    October 12th, 2011, prepared by Hannu Makkonen PhD (EurGeol) acting as
    an Independent Qualified Person according to NI 43-101. 

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.

Qualified Person Statement: The technical contents of this news release have been prepared and approved by Dr. Toby Strauss (CGeol), a person qualified under the terms of National Instrument 43-101. Toby Strauss is an Officer and a Director of the Company.

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.

Contacts:
Belvedere Resources Ltd.
David Pym
CEO

Belvedere Resources Ltd.
Suite #404, Vancouver World Trade Centre, 999 Canada Place
Vancouver. BC
V6C 3E2, Canada
www.belvedere-resources.com

Humbercrest Capital Inc.
Scott Findlay
+1 647 274 2536

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The financial services market is one of the most data-driven industries in the world, yet it’s bogged down by legacy CPU technologies that simply can’t keep up with the task of querying and visualizing billions of records. In his session at 20th Cloud Expo, Karthik Lalithraj, a Principal Solutions Architect at Kinetica, discussed how the advent of advanced in-database analytics on the GPU makes it possible to run sophisticated data science workloads on the same database that is housing the rich...
SYS-CON Events announced today that Calligo has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo is an innovative cloud service provider offering mid-sized companies the highest levels of data privacy. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalized support service from its globally located cloud platfor...
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.