Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

August 31, 2011 16:19 ET

Belo Sun Intersects 30.75 Meters Grading 11.14 g/t Gold in New High Grade Extension of the Grota Seca Deposit, Volta Grande Project, Brazil

- VVGD-137 (Grota Seca Cross Section 825 W) Intersected 30.75 Meters Grading 11.14 g/t Au (from 132.75 m Depth) Including 13.06 Meters Grading 23.84 g/t Au

TORONTO, ONTARIO--(Marketwire - Aug. 31, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") is pleased to announce assay results for 22 additional drill holes from the diamond drilling program at its Volta Grande Gold Project located in Para State, Brazil, including the discovery of a new high grade extension at the Grota Seca Deposit. The results include assays from 14 drill holes from the Grota Seca deposit, seven drill holes from the Ouro Verde deposit and one from the South Block target. The complete results and cross sections are presented in Table 1 below.

Highlights include:

  • Hole VVGD-137 (Grota Seca Cross Section 825 W), which is located at the Eastern part of the Grota Seca deposit, has intersected a new structurally controlled high grade gold mineralization zone. High grade gold mineralization of 11.14 g/t Au occurs over a 30.75 meter interval (see above and Table 1) in this drill hole.
  • Hole VVGD-109 (Grota Seca Cross Section 1900 W), which is located at the Central part of the Grota Seca deposit, has intersected high grade gold mineralization near surface with significant true thickness and continuity along strike and down dip. VVGD-109 (Grota Seca Cross Section 1900 W) with 37.47 meters grading 4.38 g/t Au (from 61.20 m depth) including 13.15 meters grading 10.00 g/t Au
  • Hole VVGD-127 (Grota Seca Cross Section 775 W), which is part of the infill drilling, is located at the eastern part of this deposit and indicates the potential to find another high grade zone (similar to the Central part of the deposit) at depth. VVGD-127 (Grota Seca Cross Section 775 W) with 35.35 meters grading 3.33 g/t Au (from 200.35 m depth) including 10.30 meters grading 7.08 g/t Au
  • Hole VVGD-111 (Ouro Verde Cross Section 475 NW) intercepted multiple high grade mineralized zones near surface showing, as expected, significant continuity along strike and down dip. VVGD-111 (Ouro Verde Cross Section 475 NW) intersected 27.00 meters grading 2.36 g/t Au (from 112.75 m depth) including 8.89 meters grading 5.09 g/t Au.

As part of the ongoing drill program at Volta Grande, Belo Sun has completed a total of 187 drill holes (48,167m), of which assays remain pending for 56 holes. The current drilling program is designed to upgrade and expand the existing mineral resource estimate and 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.

Mark Eaton, the President and CEO for Belo Sun, stated, "With ten diamond drill rigs operating we expect that we will complete the infill drilling program by the end of September. Once the infill drilling is complete, we will then focus all 10 diamond drill rigs on expanding the deposits. At present the Ouro Verde Deposit remains open along strike to the northwest and the Grota Seca Deposit is open along strike to the East, both deposits continue at depth. We are particularly excited to drill additional holes in the area of the newly identified high grade mineralization on the east side of the Grota Seca deposit."

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.

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-108 164.00 192.65 28.65 0.67 VVGD-111 10.30 22.15 11.85 2.13
and 205.00 248.36 43.36 1.08 and 42.79 48.00 5.21 0.97
and 269.70 273.70 4.00 2.80 and 54.60 66.45 11.85 1.31
and 304.90 308.40 3.50 0.90 and 78.00 82.15 4.15 4.37
and 321.00 325.70 4.70 2.22 and 112.75 139.75 27.00 2.36
VVGD-109 20.48 34.00 13.52 0.71 including 112.75 121.64 8.89 5.09
and 61.20 98.67 37.47 4.38 and 170.34 188.47 18.13 1.25
including 85.52 98.67 13.15 10.00 including 173.44 178.59 5.15 2.11
and 133.61 137.00 3.39 4.18 and 194.27 200.60 6.33 0.79
and 173.55 183.90 10.35 1.53 VVGD-113 0.00 9.15 9.15 0.80
and 195.90 210.90 15.00 3.85 and 110.50 113.50 3.00 1.04
VVGD-110 78.42 89.18 10.76 0.52 and 124.40 131.90 7.50 1.85
and 102.17 115.00 12.83 1.17 and 170.10 191.80 21.70 1.04
and 120.85 137.38 16.53 0.88 VVGD-115 0.00 3.70 3.70 0.92
and 187.42 193.21 5.79 1.34 and 19.70 33.00 13.30 0.65
and 208.95 213.06 4.11 0.63 and 48.00 61.00 13.00 0.57
and 226.96 230.37 3.41 1.52 and 81.85 101.05 19.20 1.67
and 251.36 254.84 3.48 0.72 including 84.25 89.45 5.20 4.07
VVGD-114 85.30 97.35 12.05 0.84 and 108.60 121.00 12.40 0.86
and 114.20 121.65 7.45 0.74 and 188.00 196.15 8.15 1.01
and 127.60 135.70 8.10 0.62 and 206.64 252.60 45.96 0.64
VVGD-116 81.30 88.30 7.00 0.86 and 272.08 275.60 3.52 2.17
and 94.10 138.05 43.95 0.69 and 307.85 311.08 3.23 0.80
and 171.85 176.55 4.70 3.35 VVGD-119 0.00 10.60 10.60 1.03
VVGD-117 34.00 37.85 3.85 0.52 and 21.60 28.60 7.00 0.54
and 50.90 72.60 21.70 0.79 and 104.25 108.00 3.75 0.75
and 99.70 104.70 5.00 8.03 and 166.00 169.00 3.00 1.02
VVGD-118 104.00 110.00 6.00 1.05 VVGD-124 135.45 139.00 3.55 0.55
and 123.70 141.00 17.30 0.61 and 150.00 153.75 3.75 0.74
and 157.76 183.84 26.08 0.94 VVGD-125 0.00 6.00 6.00 0.96
including 169.29 175.05 5.76 2.73 and 83.00 91.00 8.00 1.45
and 211.80 219.20 7.40 0.58 and 134.90 141.12 6.22 0.53
and 234.26 245.43 11.17 0.59 VVGD-131 118.30 125.55 7.25 0.62
VVGD-120 93.25 106.45 13.20 0.53 and 156.00 159.00 3.00 0.55
and 115.80 125.70 9.90 0.69 and 178.58 209.96 31.38 1.00
and 138.50 142.35 3.85 0.80 and 253.95 303.05 49.10 0.88
and 147.55 161.25 13.70 0.61 including 265.00 276.43 11.43 1.73
VVGD-121 22.60 28.70 6.10 3.13 and 310.18 318.80 8.62 0.77
and 36.90 99.11 62.21 0.74 and 345.75 359.45 13.70 0.69
including 64.00 73.33 9.33 1.22
VVGD-122 88.60 104.45 15.85 1.13
and 110.50 117.50 7.00 0.50 South Block
and 124.50 145.65 21.15 0.73 Hole # From (m) To (m) Width (m) Au g/t
VVGD-123 34.85 45.45 10.60 0.74 VVGD-112 NSR
and 51.15 87.50 36.35 1.39
including 54.95 66.00 11.05 2.90
and 118.50 124.67 6.17 1.27
VVGD-126 65.15 71.65 6.50 1.32
and 92.00 96.00 4.00 0.81
and 153.00 160.55 7.55 0.91
and 179.00 189.56 10.56 0.76
and 197.80 209.20 11.40 4.30
VVGD-127 122.45 125.15 2.70 1.26
and 145.35 161.30 15.95 0.73
and 168.15 179.50 11.35 4.34
and 185.50 188.50 3.00 1.18
and 200.35 235.70 35.35 3.33
including 222.90 233.20 10.30 7.08
and 244.70 249.30 4.60 0.65
VVGD-130 158.00 193.70 35.70 1.07
including 181.10 192.70 11.60 2.20
VVGD-137 0.00 10.95 10.95 0.80
and 132.75 163.50 30.75 11.14
including 136.35 149.41 13.06 23.84
and 168.63 171.70 3.07 0.79
and 177.32 188.30 10.98 0.84
and 199.25 221.20 21.95 2.15
including 209.25 219.35 10.10 4.07

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 at the Volta Grande Gold Project site. The assay samples are then fine-crushed to better than 85% passing 10 mesh screens, with an assay pulp split of up to 1000 grams pulverized to better than 80% 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 Figure 1, please visit the following link: http://file.marketwire.com/release/BeloFigure1.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