UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

[X]	QUARTERLY REPORT UNDER TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2009
OR
[   ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 333-143816

BELVEDERE RESOURCES CORPORATION

(Exact name of registrant as specified in its charter)

NEVADA
(State or other jurisdiction of incorporation or organization)

#508 – 170 West 1^st Street,

North Vancouver, British Columbia

Canada V7M 3P2

 (Address of principal executive offices, including zip code.)

(778) 892-2490

(telephone number, including area code)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days.
YES [X]   NO [   ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer, “accelerated filer,” “non-accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [   ]

Accelerated filer   [   ]

Non-accelerated filer     [   ]

Smaller reporting company   [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [X]  NO [  ]

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 6,006,450 Common Shares as of May 12, 2009

 SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

Except for statements of historical fact, certain information contained herein constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.  Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates” or “intends” or by discussions of strategy or intentions.  Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements.  Such factors include, among others, our history of operating losses and uncertainty of future profitability; our lack of working capital and uncertainty regarding our ability to continue as a going concern; uncertainty of access to additional capital; risks inherent in mineral exploration; environmental liability claims and insurance; dependence on consultants and third parties as well as those factors discussed in the section entitled “Risk Factors”, “Business” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.  

If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected.  Forward looking statements in this document are not a prediction of future events or circumstances, and those future events or circumstances may not occur.  Given these uncertainties, users of the information included herein, including investors and prospective investors are cautioned not to place undue reliance on such forward-looking statements.  We do not assume responsibility for the accuracy and completeness of these statements.

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce.  The Company is an exploration stage company and its properties have no known body of ore.  U.S. investors are cautioned not to assume that the Company has any mineralization that is economically or legally mineable.

All references in this Report on Form 10-Q to the terms “we”, “our”, “us”, and “the Company” refer to Belvedere Resources Corporation.  

PART I – FINANCIAL INFORMATION

ITEM 1.

FINANCIAL STATEMENTS

Belvedere Resources Corporation

(An Exploration Stage Company)

Balance Sheets

(Unaudited)

	March 31, 2009	December 31, 2008
ASSETS:
Current Assets
Cash	$9,515	$21,729
Other Current Assets	2,095	1,160
Total Assets	$11,610	$22,889
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable	$3,679	$898
Due to Related Parties	53,149	51,649
	56,828	52,547
Stockholders' Deficit
Preferred stock, 100,000,000 shares authorized, $0.00001 par value
none issued
Common stock, 100,000,000 shares authorized, $0.00001 par value
6,006,450 shares issued and outstanding
	60	60
Additional paid-in capital	112,260	112,260
Deficit accumulated during the exploration
stage	(157,538)	(141,978)
Total Stockholders' Deficit	(45,218)	(29,658)
Total Liabilities and Stockholders'
Deficit	$11,610	$22,889

See accompanying notes to financial statements

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Belvedere Resources Corporation

(An Exploration Stage Company)

Statements of Expenses

 (Unaudited)

	Three Months	Three Months	Sept, 27, 2006 (Inception)
	Ended	Ended	Through
	March 31, 2009	March 31, 2008	March 31, 2009
Operating Expenses
Legal and accounting	$13,160	$3,828	$99,555
General and administrative	900	1,808	25,881
Mining exploration expense	-	-	12,500
Services provided by Directors	750	750	7,500
Rent	750	750	11,300
Total Operating Expenses	15,560	7,136	156,736
Other Income (Expense):
Foreign currency exchange gain	-	-	823
Interest Expense	-	-	(1,625)
Total Other Income (Expense)			(802)
Net Loss	$(15,560)	$(7,136)	$(157,538)
Net Loss Per Common Share
Basic and Diluted	$(0.00)	$(0.00)	n/a
Weighted Average Number of
Common Shares Outstanding	6,006,450	6,006,450	n/a

See accompanying notes to financial statements

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Belvedere Resources Corporation (An Exploration Stage Company) Statements of Cash Flows (Unaudited)
	Three Months Ended	Three Months Ended	September 27, 2006
	March 31, 2009	March 31, 2008	(Inception) through
			March 31, 2009
Operating Activities
Net Loss	$(15,560)	$(7,136)	$(157,538)
Adjustments to reconcile net loss to cash
used in operating activities:
Donated rent and consulting services	-	1,500	10,000
Imputed interest	-	-	1,625
Changes in:
Increase in other current asset	(935)	-	(2,095)
Increase (decrease) in accounts payable	2,781	(5,239)	(3,679)
Increase in accounts payable – related party	1,500	-	1,500
Net Cash used in Operating Activities	(12,214)	(10,875)	(142,829)
Net Cash Provided by Financing Activities
Proceeds from the sale of common stock	-	-	100,695
Advances from related parties	-	-	51,649
Net Cash Provided by Financing Activities	-	-	152,344
Increase (decrease) in Cash	(12,214)	(10,875)	9,515
Cash - Beginning of Period	21,729	78,378	-
Cash – End of Period	$9,515	$67,503	$9,515

See accompanying notes to financial statements

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 Belvedere Resources Corporation

(An Exploration Stage Company)

Notes to the Financial Statements

 (Unaudited)

NOTE 1 -  Basis of Presentation

The accompanying unaudited interim financial statements of Belvedere have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with Belvedere’s audited 2008 annual financial statements and notes thereto. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in Belvedere’s 2008 annual financial statements have been omitted.

NOTE 2 - Going Concern

These financial statements have been prepared on a going concern basis, which implies Belvedere Resources will continue to meet its obligations and continue its operations for the next fiscal year.  Realization value may be substantially different from carrying values as shown and these financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should Belvedere Resources be unable to continue as a going concern.  At March 31, 2009, Belvedere Resources has not generated revenues and has accumulated losses since inception.  The continuation of Belvedere Resources as a going concern is dependent upon the continued financial support from its shareholders, the ability of Belvedere Resources to obtain necessary equity financing to continue operations, and the attainment of profitable operations.  These factors raise substantial doubt regarding the Belvedere Resources’ ability to continue as a going concern.

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ITEM 2.

MANAGEMENT'S  DISCUSSION AND ANALYSIS

OR PLAN OF OPERATION.

This section of the report includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.

Plan of Operation

This section contains “forward looking statements” which may be subject to certain, risks, uncertainties and other factors affecting actual outcomes. See “Special Note on Forward Looking Statements” and “Risk Factors”.

We are a start-up, exploration stage corporation and have not yet generated or realized any revenues from our business operations.

Our auditors have issued a going concern opinion. This means that there is substantial doubt that we can continue as an on-going business for the next twelve months unless we obtain additional capital to pay our bills. This is because we have not generated any revenues and no revenues are anticipated until we begin removing and selling minerals. There is no assurance we will ever reach this point. Accordingly, we must raise cash from sources other than the sale of minerals found on the property. That cash must be raised from other sources. Our only other source for cash at this time is investments by other. We must raise cash to implement our project and stay in business.

Following geological tests, we  have let our Tenure on the Spanish Gold property lapse.  Which we have concluded, based on work to date, is not sufficiently prospective of mineralization to warrant further work at this time.  We intend to focus on locating and acquiring other projects or properties which offer more favourable prospects.  We have not identified any such projects at this time and, if we do, we anticipate we may require additional funding to either acquire such properties or projects or to conduct work programs on them.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties, and possible cost overruns due to price and cost increases in services.

We have no assurance that future financing will be available to us on acceptable terms. If financing is not available on satisfactory terms, we may be unable to continue, develop or expand our operations. Equity financing could result in additional dilution to existing shareholders.

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Liquidity and Capital Resources

Mr. Englmann has agreed to advance sufficient funds to maintain continuous disclosure filings until a suitable project is located.   

At the present time, we have not made any arrangements to raise additional cash, other than cash on hand. If we need additional cash and can't raise it we will either have to suspend operations until we do raise the cash, or cease operations entirely. Other than as described in this paragraph, we have no other financing plans.

Since inception, we have issued 6,006,450  shares of our common stock and received $100,695 for a portion of the shares.

In September 27, 2006, we issued 5,000,000 shares of common stock to our then sole officer and director, Shawn Englmann, pursuant to the exemption from registration contained in Regulation S of the Securities Act of 1993. The purchase price of the shares was $50.00. This was accounted for as an acquisition of shares. Shawn Englmann has covered expenses via advances totaling $53,149, all of which was paid directly to our stakeholder,  attorney and accountant. The amount owed to Mr. Englmann is non-interest bearing, unsecured and due on demand. Further the agreement with Mr. Englmann is oral and there is no written document evidencing the agreement.

In December 2007, we completed our public offering and raised $100,645 by selling 1,006,450 shares of common stock at an offering price of $0.10 per share.

As of March 31, 2009, our total assets are $11,610 and our total liabilities are $56,828.

ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4.

CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

We maintain “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. We conducted an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this Evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our Disclosure

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Controls were not effective because of the identification of a material weakness in our internal control over financial reporting. The material weakness relates to the lack of segregation of duties in financial reporting, as our financial reporting and all accounting functions are performed by an external consultant with no oversight by a professional with accounting expertise.  Our CEO and CFO do not possess accounting expertise and our company does not have an audit committee.  This weakness is due to the company’s lack of working capital to hire additional staff.  To remedy this material weakness, we intend to engage another accountant to assist with financial reporting as soon as our finances will allow.

Changes in Internal Controls

We have also evaluated our internal controls for financial reporting, and there have been no significant changes in our internal controls or in other factors that could significantly affect those controls subsequent to the date of their last evaluation

PART II. OTHER INFORMATION

ITEM 1A.

RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 2.

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

On July 6, 2007, the Securities and Exchange Commission declared our Form SB-2 Registration Statement effective, file number 333-143816, permitting us to offer up to 2,000,000 shares of common stock at $0.10 per share.  There is no underwriter involved in our public offering.

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ITEM 6.  

EXHIBITS.

EXHIBIT INDEX

Exhibit No.	Document Description
31.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following person on behalf of the Registrant and in the capacities on this 12^th  day of May, 2009.

BELVEDERE RESOURCES CORPORATION
BY:	“Shawn Englmann”
	Shawn Englmann, President, Principal Executive Officer, Treasurer, Principal Financial Officer, and Principal Accounting Officer

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