Belo Sun Mining Corp.
TSX VENTURE : BSX

Belo Sun Mining Corp.

December 14, 2010 17:00 ET

Belo Sun Continues to Extend Gold Mineralization at Volta Grande

New Mineralized Zones Extend Grota Seca Deposit to the East

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2010) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce the assay results of nine additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil.

Assay results from seven holes from the Grota Seca Deposit were received, of which five of the holes (VVGD-027, 035, 036, 038 and 040) are from the current program and two (VVD-126 and VVD-131) are from samplings of historic drill core not previously sampled. Holes VVGD-027 and VVGD-036 (Grota Seca Deposit – Section 850W) returned more than 10 mineralized zones which extend over approximately 400 meters in width. Holes VVGD-035, 038 and 040 intersected new mineralized zones, including 12 meters grading 2.18 g/t Au (VVGD 035). Three intervals, including 8.6 meters with grades of 2.2 g/t, were intersected in hole VVGD 040 (section 550W). These new zones extend the Grota Seca Deposit to the east and confirm that there is potential to expand the resource in that direction.

A complete summary of the assay results are included in Table 1 below. The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, are included at the end of this news release commencing at Figure 1 below.

Assays from historic drill hole VVD-126 (Grota Seca Deposit – Section 1950W) that were not sampled by previous operators have proved to be well mineralized with an intercept of 29.00m grading1.16 g/t Au (from 174m) including 13.50m grading 1.76 g/t Au (from 175m). Assays from hole VVD-131 (Grota Seca Deposit – Section 200W) also have significant, unsampled intervals, including 21 meters grading 1.54 g/t Au (from 134 meters depth). Belo Sun intends to review and analyze all other drill hole intervals that have not yet been sampled.

From the Ouro Verde Deposit, current assay results from hole VVGD-037 (Section 525NW) show multiple mineralized zones confirming continuity down dip to depths of 350 meters below surface. Hole VVGD-042 did not intercept any significant gold mineralization and was collared to test possible new zones in the footwall of the Ouro Verde Deposit.

Belo Sun has completed approximately 50 drill holes of its ongoing program. Results from 15 of these holes remain pending from the lab. Further results of the drilling program, which is designed to upgrade and expand the existing mineral resource, will be released as they are received.

Mark Eaton, the President and CEO for Belo Sun, stated "Our decision to re-examine and assay the 40,000 meters of historical drill core in light of the new geological model is yielding very positive results and is adding significant grade mineralization in areas that were previously modeled as waste in the PEA conceptual pit. The positive drill results on the eastern extent of the deposit demonstrate that mineralization continues in that direction, which bodes well for the 2011 drill campaign."

TABLE 1 – DIAMOND DRILLING ASSAY RESULTS
NR 12/09/2010
Grota Seca target   Ouro Verde target
Hole # From (m) To (m) Width (m) Au g/t   Hole # From (m) To (m) Width (m) Au g/t
VVGD-027 24.80 31.14 6.34 0.56   VVGD-037 141.55 150.75 9.20 5.14
and 123.20 143.15 19.95 2.16   and 172.95 179.70 6.75 1.05
including 123.20 129.60 6.40 6.24   and 199.42 232.35 32.93 0.76
and 160.15 170.40 10.25 1.23   including 224.66 232.35 7.69 2.00
and 239.03 257.90 18.87 0.70   and 302.30 343.31 41.01 0.82
including 239.03 244.00 4.97 1.15   including 315.86 324.40 8.54 2.13
and 332.10 343.70 11.60 0.52   including 331.53 336.85 5.32 1.31
and 407.34 412.35 5.01 0.67   and 357.75 378.50 20.75 0.51
and 416.41 420.00 3.59 0.55   and 401.95 406.30 4.35 0.49
VVGD-035 72.00 74.60 2.60 1.51   VVGD-042  NSR 
and 87.00 99.00 12.00 2.18            
and 136.30 141.50 5.20 0.79            
VVGD-036 30.66 61.65 30.99 0.97            
including 52.86 61.65 8.79 2.27            
and 69.25 76.95 7.70 1.24            
and 86.95 91.10 4.15 0.83            
and 143.85 147.35 3.50 0.54            
VVGD-038 16.35 20.35 4.00 0.72            
and 86.48 106.60 20.12 0.96            
including 86.48 95.48 9.00 1.53            
VVGD-040 103.00 111.00 8.00 2.02            
and 135.00 143.60 8.60 2.20            
and 153.00 169.00 16.00 1.45            
VVD-126 39.00 45.00 6.00 0.68            
and 53.00 99.00 46.00 1.59            
including 71.00 82.00 11.00 2.90            
including 95.00 99.00 4.00 2.68            
and 108.00 116.00 8.00 1.22            
and 174.00 203.00 29.00 1.16            
including 175.00 188.50 13.50 1.76            
including 207.00 210.15 3.15 0.71            
VVD-131 0.00 3.00 3.00 0.88   New Results        
and 25.00 29.00 4.00 0.55            
and 53.00 68.00 15.00 0.64            
and 78.00 95.00 17.00 0.82            
and 137.00 158.00 21.00 1.54            
including 141.00 148.00 7.00 2.38            
including 151.00 156.00 5.00 2.47            
 
The widths reported above represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.

Investor Relations Coordinator

As previously announced the Company has hired Ms Darcie Ladd as Investor Relations Coordinator. The Company will pay Ms. Ladd $1,200 per month for her work in this capacity.

Quality Assurance and Quality Control

The scientific and technical information in this press release has been reviewed and approved by David Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos Cravo, Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized and suspected mineralized intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility in Itaituba, Para, Brazil. The assay samples are then fine-crushed to better than 85% passing 10 mesh screen, with an assay pulp split of up to 500 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the Company that the assay data is representative of the original sample.

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 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 drill results on the Company and its understanding of the project; 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.

To view the figures associated with this release, please visit the following link: http://media3.marketwire.com/docs/BSXmaps.pdf.

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