Belo Sun Mining
TSX VENTURE : BSX

Belo Sun Mining

July 18, 2011 07:00 ET

Belo Sun Mining Advances Volta Grande Project, Brazil-Awards Bankable Feasibility Study

TORONTO, ONTARIO--(Marketwire - July 18, 2011) - Belo Sun Mining Corp. (TSX VENTURE:BSX) (the "Company" or "Belo Sun") announces that AMEC Minproc Engenharia e Consultoria Limitada (AMEC), AMEC's mining and metals business based in Brazil, has been selected to conduct the Bankable Feasibility Study for its Volta Grande Gold Project in Para State, Brazil.

AMEC is an internationally recognized leader in the design, engineering and construction of gold projects, with extensive experience developing projects in Brazil. Their experience and expertise in developing mining projects, as well as their knowledge of regulations specific to Brazil will be an important part for the development of the Volta Grande Project. The Feasibility Study will commence immediately and is expected to be completed in July 2012.

The Bankable Feasibility Study will also include an updated mineral resource model, which will incorporate the results from the current exploration drill program. The updated mineral resource model is expected for completion in the third quarter of this year. Belo Sun anticipates that this portion of the study will further demonstrate a continued expansion of estimated mineral resources, which could potentially have positive effects on production projections as well as the overall economics of the Volta Grande Project as was initially outlined in a 2009 Preliminary Economic Assessment.

Mark Eaton, CEO commented, "Awarding the Feasibility Study represents an important milestone for Belo Sun as we move the Volta Grande Project forward. We are very pleased to announce the next stage of development working with AMEC Minproc, and we believe their solid experience in gold operations design will be a definite advantage for this project."

About Belo Sun

Belo Sun Minerals Corporation is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun's prime 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" and has approximately 206.3 million common shares issued and outstanding. 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 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 and analysis; 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.

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