Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

May 30, 2011 17:38 ET

Belo Sun Increases Number of Drills to Eleven (11) at Its Volta Grande Gold Project, Para State, Brazil

TORONTO, ONTARIO--(Marketwire - May 30, 2011) -Belo Sun Mining Corp.(TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce that it has secured an additional four diamond drill rigs and one reverse circulation ("RC") drill rig for its Volta Grande Gold Project bringing the total number to eleven (11). The five new drill rigs are expected to arrive on site over the next three to four weeks.

With these additional rigs, Belo Sun is anticipating drilling a minimum of 6,500 meters per month in order to accelerate the resource upgrade program (infill drilling) and to continue its expansion of the resources at the Volta Grande Project. The new contractors are REDE ENGENHARIA E SONDAGENS, one of the largest Brazilian drill contractors, and GEOSEDNA which specializes in RC drilling.

The RC drilling program is designed to test the Greia Target, an area of 1,000 x 1,000 meters where strong soil geochemical anomalies as well as significant mineralized intercepts from limited historical drilling occurs (see location map and cross sections below).

The initial distribution of the ten drill rigs will be as follows: six rigs will be employed to complete the remainder of the infill drilling program which has been designed to convert Inferred resources to Measured and Indicated categories to be utilized in feasibility studies; three rigs will work to expand the resources, predominantly focused along strike; and one will continue to test targets on the South Block of the property. As the infill drilling program concludes, rigs will be redirected to further accelerate the other two programs.

In addition, Belo Sun announces that it has completed construction of a new on site sample preparation facility to be operated by ACME which has an installed capacity of two-hundred samples per day.

Mark Eaton, the President and Chief Executive Officer for Belo Sun, stated: "That our team in Brazil was able to secure these additional drill rigs in an intensely competitive exploration market speaks volumes not only of their aptitude but also of their esteem within the mining community. This is an important achievement for Belo Sun and the Volta Grande Project as it will ensure that our development plans for the Volta Grande Project continue to remain on track."

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.

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 additional drills on the Company and its development 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 Figure 1-Regional Geological Map (North Block), please visit the following link: http://media3.marketwire.com/docs/bsx-fig1.pdf

To view Figure 2-(Volta Grande Gold Project Greia Target), please visit the following link: http://media3.marketwire.com/docs/bsx-fig2.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
    www.belosun.com