Bellhaven Expands Footprint and Adds More Shallow +1.0 g/t Gold at the Middle Zone Deposit, La Mina Project, Colombia

Thu Sep 6, 2012 7:30am EDT

* Reuters is not responsible for the content in this press release.

  DENVER, COLORADO, Sep 06 (MARKET WIRE) --
Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the
"Company") is pleased to report drill results from eleven recent holes at
the La Mina Project in Colombia (Figure 1). The holes tested areas
peripheral to the known shallow mineralization, and also probed zones
within the deposit where the block model demonstrated unrealized
mineralized potential. The most significant intercept is shown below:


--  LME-1082 - 115.82m averaging 1.01 g/t Au and 0.08% Cu, or 1.15 g/t Au
    Equiv; 
    including 63.32m at 1.48 g/t Au and 0.09% Cu, or 1.62 g/t Au Equiv


    Two of the drill holes in this release (LME-1073 and LME-1074) have
already been included in the Middle Zone resource dated July 9, 2012. The
remainder will be incorporated in a future updated resource. 

    The program succeeded in delivering higher grade compared to key areas of
the current block model, enlarging the mineralized footprint, and better
defining the eastern and western edges of mineralization. For maps
showing the location of the drill holes, as well as relevant geologic
cross sections highlighting the gold-copper intercepts, please use the
following link: http://file.marketwire.com/release/bhvFigs1-9.pdf

    Patrick Highsmith, Bellhaven's CEO, commented on the latest drilling:

    "These results are a strong finish to the 2012 Middle Zone drill program.
Not only have we extended the footprint of mineralization on three sides
of the deposit, but we have also identified considerably higher-grade
gold-dominant mineralization in the northeast lobe. Furthermore, all of
the significant intercepts reported here today come from less than 200m
vertically below surface. The near-surface gold-dominant mineralization
at La Mina bodes well for the potential economics of its future
development." 

    "We expect these drill results to make accretive contributions to the
Middle Zone resource model. We are developing additional drill targets
between La Cantera and Middle Zone, and we expect to include all this
work in a significant resource update and preliminary economic assessment
in the first half of 2013." 

    The table below summarizes the significant intercepts from the most
recent drilling at the Middle Zone.

    Table 1 - Significant New Drill-Hole Results for la Mina Gold-(Copper)
Project, Colombia


----------------------------------------------------------------------------
               From      To  Intercept      Au     Cu     Ag   AuEq         
Drill Hole      (m)     (m)        (m)   (g/t)    (%)  (g/t)  (g/t) Prospect
----------------------------------------------------------------------------
LME-1073(ii)  44.10   60.60      16.50    0.25   0.09    0.7   0.39   Middle
                                                                        Zone
----------------------------------------------------------------------------
             137.00  178.00      41.00    0.21   0.17    0.8   0.49         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1074(ii)   6.09   13.71       7.62    0.29   0.07    0.5   0.40   Middle
                                                                        Zone
----------------------------------------------------------------------------
              34.13   48.15      14.02    0.19   0.19    0.9   0.49         
----------------------------------------------------------------------------
              71.62   77.72       6.10    0.24   0.12    1.2   0.43         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1075      95.60  109.90      14.30    0.51   0.15    1.4   0.74   Middle
                                                                        Zone
----------------------------------------------------------------------------
             120.40  126.10       5.70    0.95   0.18    1.7   1.24         
----------------------------------------------------------------------------
             132.40  157.80      25.40    0.41   0.06    1.2   0.50         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1076(i)   30.48   39.62       9.14    0.26   0.24    1.6   0.64   Middle
                                                                        Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1077      12.19   65.53      53.34    0.33   0.21    2.3   0.66   Middle
                                                                        Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1078      18.28   28.95      10.67    0.72   0.06    2.9   0.81   Middle
                                                                        Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1079                                                              Middle
                         No significant mineralization                  Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1080      66.75  101.19      34.44    0.69   0.10    2.3   0.85   Middle
                                                                        Zone
----------------------------------------------------------------------------
             136.55  179.26      42.71    0.72   0.08    1.9   0.84         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1081      48.76   64.00      15.24    0.39   0.11    1.5   0.57   Middle
                                                                        Zone
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1082     107.43  129.54      22.11    0.72   0.08    1.1   0.84   Middle
                                                                        Zone
----------------------------------------------------------------------------
             138.68  254.50     115.82    1.01   0.08    0.8   1.14         
----------------------------------------------------------------------------
including    138.68  202.00      63.32    1.48   0.09    0.8   1.62         
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LME-1083                                                              Middle
                         No significant mineralization                  Zone
----------------------------------------------------------------------------
(i) LME-1076 was stopped due to ground conditions at 39.62m and re-drilled  
 as LME-1077.                                                               
(ii) Results from LME-1073 and LME-1074 are already included in the inferred
 resource estimate released on July 9, 2012.                                


    NOTE: Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq
(g/t) = gold equivalent (g/t). AuEq (g/t) calculated assuming a long-term
gold price of US $1200/oz and a long-term copper price of US $2.75/lb. No
adjustment has been made for metallurgical recoveries or net-smelter
returns as these remain uncertain at this time. AuEq formula: AuEq g/t =
Au g/t + ((Cu% x 22.0462 x 2.75)/(1200/31.1035)) g/t;Ag values are not
included. Gold and copper grades capped at 5 g/t Au and 2% Cu,
respectively. Intercepts reported as down-hole lengths and may not
represent true thicknesses.

    Discussion of the Drill-Hole Results  

    The group of holes reported here are located around the western,
southern, and southeastern periphery of the Middle Zone, with a few
drilled through the central part of the deposit (See Figure 2 and Table
2). After finalizing the cutoff date for inclusion in the resource
calculation, one rig continued to test peripheral and emerging targets as
the Middle Zone drill program wound down. Since February the program has
been successful in advancing the shallow, gold-dominant mineralization at
Middle Zone, particularly in the southwest and northeast lobes of the
deposit (See Company news releases dated February 9, 2012, March 22,
2012, May 3, 2012, and May 14, 2012).  

    A number of these holes were drilled to test and expand the known shallow
mineralization on the western, southern, and northeastern edges of the
deposit. These target areas included shallow intercepts in LME-1068
(101.69m of 0.84 g/t Au Equiv, in Company news release dated May 14,
2012) and LME-1061 (42.67m of 0.88 g/t Au Equiv, in Company news release
dated March 22, 2012). The objective of LME-1082 was to fill in an area
outside of the current resource envelope on the eastern side of the
deposit. It was drilled from outside the mineralizing porphyries into an
area below LME-1068, and was intended to extend into the
post-mineralizing X2 unit. Drill hole LME-1082 was very successful in
undercutting the intercept from LME-1068, thickening and extending that
mineralization at least 50m deeper, and at considerably higher gold
grades than previously encountered in that area (See Figure 3). 

    The southern end of the deposit has been the focus of significant shallow
drilling since realizing the near-surface potential of the gold
mineralization there in February (See Company news release dated February
9, 2012). Hole LME-1080 was collared approximately 75m south of LME-1052,
well south of any known mineralization, and directed to the northwest.
The strong intercepts in LME-1080 extended the footprint of
mineralization to the south by at least 50m and to depth by at least 100m
(See Figure 4).  

    Five additional drill holes extended known near-surface gold
mineralization in several other areas. Hole LME-1073 was drilled to the
southeast from the northern side and extended moderate mineralization
approximately 50m to the north. LME-1074 was drilled to the southeast
from the same platform as LME-1072, and encountered several near-surface
pockets of gold mineralization (See Figure 5). The grade of these new
intercepts is consistent with the average grade of the resource. 

    LME-1076 and LME-1077 were drilled from the same platform as LME-1074,
but directed to the southwest (See Figure 6). LME-1076 was stopped due to
bad ground conditions. The hole was steepened and re-drilled as LME-1077.
Both of these holes encountered moderate intervals of near-surface gold
and copper. 

    Hole LME-1078 was directed southwest along the southern end of
mineralization in an attempt to tie together a number of intercepts (See
Figure 7). While confirming some of the near surface intercepts in
LME-1070 and LME-1068 with an 11m gold-rich interval, it undercut most of
the strong mineralization further southwest. Similarly, but on the
northwest side of the mineralized corridor, drill hole LME-1075 was
drilled to the southwest to validate near surface intercepts and test the
southwestern limits of mineralization (See Figure 8). The results
confirmed the earlier mineralization with a few moderate near-surface
intercepts, but encountered the limits of mineralization when it entered
unmineralized Limon porphyry. 

    Drill hole LME-1081 addressed a gap in the drill hole database by
drilling from the shallow X3 mineralization across the down-dropped X1
porphyry on the south end of the deposit. The hole was collared between
planned drill sections and directed to the southeast (See Figure 9).
While encountering a moderate shallow intercept of gold and copper, the
hole otherwise missed the deeper target and crossed into un-mineralized
Limon porphyry. Drill holes LME-1079 and LME-1083 encountered no
significant mineralization as they confirmed the outer limits of
mineralization on the southwest and northeast, respectively. 

    The Company plans further drilling in the Middle Zone while exploration
on additional mineralized targets is ongoing. 

    Table 2 - Drill Hole Location Data for La Mina Gold-(Copper) Project,
Colombia


----------------------------------------------------------------------------
Hole                     East UTM             North UTM            Elevation
Number                 Coordinate            Coordinate           (m.a.s.l.)
----------------------------------------------------------------------------
LME-1073               418985.483            655224.786             1952.558
----------------------------------------------------------------------------
LME-1074               419110.873            655124.027             1895.075
----------------------------------------------------------------------------
LME-1075               418982.279            655151.707             1940.171
----------------------------------------------------------------------------
LME-1076               419109.971            655125.654             1894.898
----------------------------------------------------------------------------
LME-1077               419110.232            655125.839             1895.027
----------------------------------------------------------------------------
LME-1078               419192.963            655173.375             1931.678
----------------------------------------------------------------------------
LME-1079               418922.512            655101.389             1880.536
----------------------------------------------------------------------------
LME-1080               418995.289            654991.698             1868.104
----------------------------------------------------------------------------
LME-1081               418998.895            655098.643             1906.892
----------------------------------------------------------------------------
LME-1082               419248.663            655100.044             1939.188
----------------------------------------------------------------------------
LME-1083               419273.919            655231.909             1973.803
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                   Total                    
Hole              Azimuth         Plunge          Length                    
Number          (degrees)      (degrees)        (metres)            Prospect
----------------------------------------------------------------------------
LME-1073              135            -52          307.20         Middle Zone
----------------------------------------------------------------------------
LME-1074              135            -70          303.27         Middle Zone
----------------------------------------------------------------------------
LME-1075              225            -50          236.10         Middle Zone
----------------------------------------------------------------------------
LME-1076              225            -50           39.62         Middle Zone
----------------------------------------------------------------------------
LME-1077              225            -65          153.92         Middle Zone
----------------------------------------------------------------------------
LME-1078              225            -50          422.09         Middle Zone
----------------------------------------------------------------------------
LME-1079              315            -50          147.82         Middle Zone
----------------------------------------------------------------------------
LME-1080              335            -60          188.36         Middle Zone
----------------------------------------------------------------------------
LME-1081              135            -51          292.60         Middle Zone
----------------------------------------------------------------------------
LME-1082              315            -50          322.78         Middle Zone
----------------------------------------------------------------------------
LME-1083              135            -50          333.75         Middle Zone
----------------------------------------------------------------------------


    m.a.s.l. = metres above sea level

    Laboratory Methodology and Quality Assurance 

    After logging, cutting, and sampling on site at the La Mina camp,
Bellhaven employees transport the core samples to the sample preparation
laboratory in Medellin, ALS Colombia Ltda. The lab prepares sample pulps
for analysis according to industry standard methodologies and ships the
pulps to ALS Laboratories in Lima, Peru and La Serena, Chile. The copper,
silver and multi-element analyses are performed by a four-acid digestion
and ICP-AES finish at the ALS Lima lab. The gold is determined by fire
assay of a 30-gram sample with an atomic-absorption finish in Lima or La
Serena, depending on laboratory workflow. Check samples are sent
separately by Bellhaven to the SGS Laboratory in Lima, Peru, where they
are analyzed by the same methods as listed above for ALS. 

    The ALS Minerals laboratory in Lima, Peru is registered to ISO 9001:2008
and has received ISO 17025:2005 accreditation for certain specific
methods, such as fire assay/AA gold. The SGS laboratory in Lima, Peru,
has also received accreditation to ISO/IEC 17025 for certain relevant
methods. In addition to the internal QA-QC program used by these
accredited laboratories, Bellhaven also maintains an independent QA-QC
program that includes the use of certified standard reference materials,
blanks, as well as field and pulp duplicates. The quality control data
associated with these results falls within acceptable ranges for all
relevant parameters. 

    This news release has been prepared under the supervision of Mr. Thomas
J. Drown, P.Geo. Mr. Drown has more than 25 years relevant experience and
is a British Columbia Professional Geoscientist. He is a senior project
geologist with the Company at the La Mina Project and serves as the
qualified person as defined by National Instrument 43-101. 

    About Bellhaven 

    Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV)
exploration company exploring for gold and copper in Panama and Colombia.
The Company's objective is to be a leader in responsible gold and copper
development in Panama and Colombia. Bellhaven will focus on discovery,
acquisition, and development of high-quality resources in a safe and
responsible manner for the benefit of all of its stakeholders. 

    The Company's flagship project is the La Mina porphyry gold-(copper)
project in the Middle Cauca belt of Colombia. In July 2012, the Company
increased the mineral resource inventory at the La Mina Project by 60%
with the announcement of an inferred resource at Middle Zone. The total
La Mina resource now includes 1.6 Moz gold and 419 million pounds of
copper (or 2.55 Moz gold equivalent) contained in 79.87 million tonnes
averaging 0.62 g/t Au, 0.24% Cu, or a gold equivalent grade of 1.0 g/t
(based on a 0.30 g/t Au cutoff grade). The Company is currently seeking
to grow these resources through ongoing exploration on the La Mina
concession. For more information regarding Bellhaven, please visit our
website at www.bellhavencg.com.

    On behalf of the board of directors,

    R. Patrick Highsmith, Chief Executive Officer 

    BELLHAVEN COPPER & GOLD INC. 

    Statements in this press release, other than purely historical
information, including statements relating to the Company's future plans
and objectives or expected results, may include forward-looking
statements. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual results may
vary materially from those described in the forward-looking statements. 

    Neither the 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.

Contacts:
Bellhaven Copper & Gold Inc.
Nico Wells
Corporate Communications
North America:
+1-303-470-8700, ext 24

Bellhaven Copper & Gold Inc. - Panama
Julio Benedetti
President/Director
Int'l No: +507-226-3967
www.bellhavencg.com

Copyright 2012, Market Wire, All rights reserved.

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