Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

May 16, 2011 16:17 ET

Belo Sun Drills 28.19 m Grading 8.76 g/t Gold Including 7.76 m Grading 30.67 g/t Gold in Grota Seca Central Deposit, Volta Grande Project, Brazil

- The above results include the highest grade sample ever drilled at the project with 0.5 m grading 415.8 g/t Au

- The intercepts noted above are within 15 and 70 meters of the surface.

TORONTO, ONTARIO--(Marketwire - May 16, 2011) -Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results from five additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil. The complete results and cross sections are presented below.

Results from the five drill holes being released include assays from four drill holes from the Grota Seca deposit and one drill hole from the Ouro Verde deposit. Multiple mineralized zones continue to be intercepted in both deposits.

Highlights:

  • Hole VVGD-083 (Grota Seca Cross Section 1950 W) which is part of the infill drilling for upgrading the Volta Grande Resources intersected multiple mineralized zones beginning at surface. The first 70 meters are well mineralized such as: 28.19 meters grading 8.76g/t Au (from 44.20 m depth), including 7.67 meters grading 30.67 g/t Au (from 61.83 m depth). This intercept includes the highest grade (415.8 g/t Au over 0.5m) sample from drilling at the Project to date. This hole also contains other well mineralized zones further down the hole as presented in Table 1 below.

  • Holes VVGD-077, 079 and 082 are also part of the infill drilling program at the Grota Seca Deposit and these intersections demonstrate the continuity of the mineralization between sections or along strike (see Table 1).

  • Hole VVGD-080 drilled at the Ouro Verde deposit successfully tested for extensions of the mineralization and will have a positive impact on the resource expansion.

To date, Belo Sun has completed 103 drill holes at the Volta Grande Gold Project, of which assays are pending for 19 holes. The current drilling program is designed to upgrade the resource designation in support of a planned feasibility study and expanding the existing mineral resource estimate. Further results will be released as they become available.

The geological map of the Volta Grande Gold Project, with diagrams setting out the main deposit locations, is included below.

Helio Diniz, the Vice President, Exploration for Belo Sun, stated, "It is really very exciting to have results such as the ones above with a very good combination of grades, width and shallow depth of the mineralization. These results are expected to have a positive impact on future economic modeling of the project."

TABLE 1 – DIAMOND DRILLING ASSAY RESULTS

The widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.

May 16, 2011
Ouro Verde Deposit
Hole #From (m)To (m)Width (m)Au g/t
VVGD-08011.0033.0022.000.51
and45.0049.004.001.37
and70.0073.003.001.26
Grota Seca Deposit
Hole #From (m)To (m)Width (m)Au g/t
VVGD-07772.7084.7812.080.83
and113.23116.803.570.77
and148.41151.543.131.26
VVGD-079162.02174.0011.980.57
and190.00198.408.400.67
and206.34231.1524.810.98
including214.15222.538.381.93
and282.00297.6415.641.47
VVGD-082107.90145.3037.401.18
including110.80125.7514.951.84
VVGD-0830.006.006.001.24
and15.4536.2020.751.72
and44.2072.3928.198.76
including61.8369.507.6730.67
and116.85120.003.154.73
and136.07158.2722.201.58
including142.55155.0012.452.31

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, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not 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 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 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 press release, please visit the following link: http://media3.marketwire.com/docs/belo_maps.pdf

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Contact Information

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