Bellhaven Copper & Gold Inc.
TSX VENTURE : BHV

Bellhaven Copper & Gold Inc.

October 31, 2011 15:52 ET

Bellhaven Files National Instrument 43-101 Mineral Resource Estimate Report for the La Mina Gold-Copper Project, Colombia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2011) - Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is pleased to announce today that it has filed the National Instrument 43-101 resource estimate for its 100%-controlled La Mina project, Colombia (the "Technical Report"). The Technical Report is available on the Company's website at www.bellhavencg.com and on SEDAR at www.sedar.com. Bellhaven first announced the resource estimate in a press release dated September 13, 2011.

The La Mina project currently has an inferred mineral resource containing 1.0 million ounces of gold and 279 million pounds of copper at a 0.3 g/t Au cut-off grade (1.6 million ounces gold equivalent; see table below) at the La Cantera prospect, one of twelve porphyry gold-(copper) prospects currently known at La Mina.


Cutoff Au
(g/t)

Tonnes
('000)

Au
(g/t)

Cu
(%)

AuEq
(g/t)

Contained Au Oz

Contained Cu lbs ('000)

Contained AuEq Oz

0.3

40,563

0.77

0.31

1.26

1,009,053

279,822

1,645,010
AuEq (g/t) calculated using the consensus (as of 6 Sept 2011) long-term prices for gold ($1,100/oz) and copper ($2.50/lb). No adjustment has been made for metallurgical recoveries or net-smelter returns as these remain uncertain at this time. AuEq formula: AuEq g/t = Au g/t + [(Cu% x 22.0462 x 2.50)/(1100/31.1)] g/t .
All quantities are rounded to the appropriate number of significant figures; consequently sums may not add up due to rounding.
All resources reported above are inferred resources. Mineral resources are no mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserves.

The resource estimate for the La Cantera prospect is based on 6,404 meters of diamond core drilling.

Qualified Person

Scott Wilson, President of Scott E. Wilson Consulting, Inc. of Highlands Ranch, Colorado prepared the La Mina resource estimate. For detailed information regarding important assumptions, parameters and exact methods used to estimate the mineral resources, please refer to the Technical Report.

About Bellhaven

Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV) exploration company exploring for gold and copper in Panama and Colombia. The Company's objective is to become one of the best gold-copper companies operating in Panama and Colombia by discovering, acquiring, and developing high-quality resources in a safe and responsible manner to the benefit of all of its stakeholders.

Bellhaven announced on October 26, 2011, a strategic investment by IAMGOLD Corporation, thereby providing IAMGOLD with a 10.2% equity interest in Bellhaven.

The Company's flagship project is the 100%-controlled La Mina porphyry gold-(copper) project in the Middle Cauca belt of Colombia. In September, 2011, Bellhaven announced its first NI 43-101 compliant resource for the La Cantera prospect at La Mina containing 1.0 Moz gold and 1.6 Moz gold equivalent contained in 40.56 Mt of inferred resources averaging 0.77 g/t gold, 0.31% copper, and 1.26 g/t gold-equivalent at La Cantera (based on 0.30 g/t Au cut-off grade), making La Cantera one of the highest grade porphyry gold prospects in the Americas. La Cantera is one of twelve prospects identified to date at the La Mina project.

Other important projects controlled 100% by Bellhaven include Pitaloza and three other high-sulphidation epithermal gold-(copper) and porphyry copper prospects located on the Azuero Peninsula in Panama.

For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.

On behalf of the board of directors,

Paul L. Zweng, CEO & Director

Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information

  • Bellhaven Copper & Gold Inc.
    Corporate Contact in North America
    Paul Zweng, CEO/Director
    +1-808-377-1947
    pzweng@bellhavencg.com

    Bellhaven Copper & Gold Inc.
    Corporate Contact in Panama
    Julio Benedetti, President/Director
    Int'l No: +507-226-3967
    www.bellhavencg.com