Belo Sun Mining

TSX : BSX


Belo Sun Mining

September 18, 2012 18:11 ET

Belo Sun Clarifies News Articles Regarding Licensing Process

BELO HORIZONTE, BRAZIL--(Marketwire - Sept. 18, 2012) - BELO SUN MINING CORP. ("BELO SUN" or the "Company") (TSX:BSX) wishes to clarify the note released by the press service of the Federal Public Prosecutor Office (Ministério Público Federal) on September 17th, 2012 with regard to the Company's Volta Grande Project (the "Project").

The Company is honoured and pleased with the participation and interest of the Public Prosecutor Officers, both Federal and from Pará State, in the public hearing for the environmental licensing of the Volta Grande Project held on September 13th, 2012 (the "Public Hearing").

BELO SUN understands the importance of the Public Prosecutor Office as a defender of the fundamental social and individual rights of Brazilians, as well as the environment rights of all, and is pleased to reiterate its commitment to assist the Public Prosecutor Office with its task as it relates to the Volta Grande Project.

As stated in the Public Hearing, the Company will be fully transparent and available to the Public Prosecutor Office in order to present or deliver any information, explanation or clarification on the technical and legal aspects of the Project.

Further, BELO SUN welcomes the Federal Public Prosecutor Office, the State Public Prosecutor Office and the Public Defender to visit the Company's headquarters and the Project for further meetings and discussions regarding the Project. In all respects, BELO SUN will be available and willing to cooperate and present further information at the convenience of the representatives of such authorities to help them better understand the Project and address any concerns that may arise regarding the Company or the Project. In addition, BELO SUN is also available to meet such representatives at their convenience and headquarters upon invitation.

BELO SUN also wishes to clarify the specific matters raised concerning the Project in the note released by the press service of the Federal Public Prosecutor Office on September 17th, 2012. BELO SUN confirms that the Environmental Impact Study that it filed with the Environmental Secretary of the State of Pará on February 27th, 2012 addresses the synergy of the impacts of both the Volta Grande Project and the Belo Monte Project. The Environmental Impact Study also includes an analysis of the aspects related to the indigenous lands located in the region of the Project.

On September 18th, 2012, the Company's Brazilian legal counsel, Mr. Mauro Barros, contacted the Public Prosecutor and had a clarifying discussion with Ms. Thais Santi regarding the note released by the Public Prosecutor Press Service on September 17th, 2012.

According to Ms. Santi, any internal administrative procedure of the Public Prosecutor Office is called an "Investigation Proceeding" and any environmental licensing application in the State of Pará generates an Investigation Proceeding. In the ordinary course, the Investigation Proceeding includes a request of information by the Public Prosecutor to public authorities and agents involved in such projects. With regard to the Project, the Public Prosecutor has requested information from the State Environmental Secretary - SEMA, the National Department of Mining Production - DNPM, and will request information in the upcoming days from the National Indigenous Foundation - FUNAI and the National Institute of Environment and Renewable Natural Resources - IBAMA.

The Company wishes to emphasize that the Federal Public Prosecutor Office in the State of Pará opens an Investigation Proceeding for each and every environmental licensing process in the State. The Investigation Proceeding regarding the Project does not imply any irregularity or particular concern regarding the environmental licensing process for the Project.

The entire process for environmental licensing of the Project has been conducted according to standard procedures, in the ordinary course and in accordance with all applicable regulation.

Mark Eaton, the President and Chief Executive Officer of the Company, stated, "BELO SUN MINING CORP. reiterates that it is honoured and pleased with the participation and interest of the Public Prosecutor Office in the Volta Grande Project. We will be open and transparent with all relevant public authorities to clarify any outstanding information requests, queries or eventual concerns regarding the Volta Grande Project."

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 Toronto Stock 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 licensing process, the impacts of the Project on the local environment, communities and economies; statements with respect to the development potential and timetable of the project; costs of future activities; capital and operating expenditures; 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.

Contact Information

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