April 16, 2007 10:49 ET

eResearch Issues Initiating Report on Bellhaven Copper & Gold Inc.

TORONTO, ONTARIO--(CCNMatthews - April 16, 2007) - eResearch analysts, Nigel Heath CFA and Bob Weir CFA, have written an Initiating Report on Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV). Bellhaven is a Panama-based mineral exploration and development company that is engaged in the acquisition and exploration of copper and gold properties in the Republic of Panama.

The report's Highlights state the following:

- Bellhaven's prime property is Cerro Chorcha, a significant, porphyry copper deposit.

- Bellhaven recently announced a $21 million, 3 year farm-in agreement allowing Empire Minerals Corp. of New York to acquire a 65% stake in Cerro Chorcha. This will accelerate development of this key asset, provide Bellhaven with significant financial flexibility, and reduce its cash burn.

- Bellhaven is expected to use this new funding to accelerate the acquisition and development of other projects in Panama and, potentially, in Colombia.

- Despite potentially higher political risk in Panama, the government is mining friendly, and Bellhaven's management team is well connected within Panama's government and private mining sectors.

- Challenges include the native land claims on several properties, accessibility to the mountainous Cerro Chorcha property, and a lack of an experienced labour pool in Panama.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive Internet distribution network. eResearch does not trade in the securities of the companies it covers, nor does it accept any stock related compensation for research services. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Bellhaven Copper & Gold Inc. paid eResearch a fee of C$18,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

Contact Information

  • Bellhaven Copper & Gold Inc.:
    Julio C. Benedetti, President and CEO
    (507) 226-3967
    Bellhaven Copper & Gold Inc.
    Miguel Villahermosa, Investor Relations
    Toll Free: 1 (866) 599-5930
    Bob Weir, CFA, Director of Research
    (416) 643-7643
    To subscribe to eResearch and then view/download the report