Belo Sun Mining Corp.
TSX VENTURE : BSX

Belo Sun Mining Corp.

February 01, 2012 08:00 ET

Belo Sun Announces New Chair and VP, Engineering

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2012) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") announces today that Peter Tagliamonte, P.Eng, MBA, has been appointed as the independent Chair of the Board of Directors of the Company, replacing Mr. Stan Bharti, who will continue as a director of the Company. The Company also announces that it has appointed Mr. Mike Hoffman as its new Vice President of Engineering.

"Each of Mr. Tagliamonte and Mr. Hoffman brings a wealth of experience to their respective positions with the Company," stated Mark Eaton, President and Chief Executive Officer of the Company, "We are very excited that Belo Sun will benefit from their leadership and expertise as the Company proceeds into its key engineering stage."

Mr. Tagliamonte is a professional mining engineer and also holds an MBA from the Richard Ivey School of Business, at the University of Western Ontario. He is the former President and CEO of Central Sun Mining and Chief Operating Officer of Desert Sun Mining where he developed the Jacobina Mine in Brazil into a 4,200-tonne-per-day mining operation. Mr. Tagliamonte has over 25 years of progressive managerial experience building and operating mines worldwide, notably in Central and South America. In 2005, he received the Mining Journal's "Mine Manager of the Year" award in recognition for his work in the mining sector. He is currently the President and Chief Executive Officer of Sulliden Gold Corporation Ltd.

Mr. Hoffman is a professional mining engineer with over 25 years of experience in mine operations, projects, engineering and corporate development. He has held senior executive positions at Crowflight Minerals Inc., Goldcorp Inc., Desert Sun Mining Corp. and Yamana Gold Inc. He also serves on the Board of Directors of Crocodile Gold Corp., Castillian Resources Inc., Aberdeen International and Largo Resources Ltd.

The Company also announces that it has granted a total of 3,470,000 options under the rolling stock option plan of the Company to various officers, directors, employees and consultants of the Company. The options shall vest in accordance with the Company's stock option plan and are subject to regulatory approval. The options are exercisable at $1.15 per option and expire on January 31, 2017.

About the Company

Belo Sun Mining Corp. is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun's primary focus is on advancing and expanding its 100% owned Volta Grande Gold Project, located in Para State. Belo Sun trades on the TSX Venture Exchange under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com.

Cautionary Statement on Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of these appointments on the Company's financial success; statements with respect to the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER 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

  • Belo Sun Mining Corp.
    Mark Eaton
    President and CEO
    (416) 309-2137
    www.belosun.com