BELO HORIZONTE, BRAZIL--(Marketwire - Feb. 15, 2013) - BELO SUN MINING CORP. (TSX:BSX) confirms that the environmental licensing process for the company's Volta Grande Project (the "Project") continues in the ordinary course. To correct recent media reports, Belo Sun confirms that its licensing application has not been rejected.
Belo Sun has applied for the "preliminary licence" for the Project, which would attest to the feasibility of the Project from an environmental perspective. The Environmental Secretary Office of the State of Pará is the regulatory authority responsible for evaluating and determining the appropriateness of the preliminary licence. As part of the standard application process, on January 10, 2013, the Environmental Secretary Office held a second public hearing. Like the first public hearing, the January 10 hearing was very well attended with Belo Sun management, Brazilian federal, state and local government officials, residents from the local communities and representatives of non-governmental organizations and other stakeholders all given the opportunity to address the forum. At present, this second public hearing is the final scheduled public hearing at this stage of the licensing process.
The preliminary licensing process has been conducted in accordance with legislated practice in Brazil and all applicable laws and guidelines. Pursuant to the ordinary process, Belo Sun understands that the technical aspects of the licence application are currently the subject of review by the Environmental Secretary Office. At this point, Belo Sun has not received any comments or recommended changes from the technical team of the Environmental Secretary Office.
Mark Eaton, Belo Sun's president and chief executive officer, commented on the licence application process as follows: "The Para State Environmental Secretary Office has conducted our licence application process in a professional, open and insightful manner that is consistent with best practices and the applicable laws of Brazil. I would like to take this opportunity to reiterate Belo Sun's commitment to promote human rights through indigenous consultation and cooperative development, and our overriding dedication to transparent and accountable operations. We will provide public updates of all material developments regarding the Volta Grande project."
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 Toronto Stock 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 licensing process, the impacts of the Project on the local environment, communities and economies; statements with respect to the development potential and timetable of the project; costs of future activities; capital and operating expenditures; 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.