Bellhaven Launches ZTEM Airborne Survey at La Mina Project, Colombia

Thu Dec 6, 2012 7:30am EST

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

Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the
"Company") reports the commencement of the previously announced ZTEM
(airborne electro-magnetics) survey over the entire La Mina property
(1,800 Ha). The survey is also being extended to include an adjacent
concession, which the Company is currently in discussions to acquire. The
work is contracted to Geotech Ltd., a Canadian geophysical survey company
specializing in leading edge airborne technology. The survey is designed
to help refine the targets at La Mina, with a particular emphasis on the
Garrucha and Cristalina target areas.

    The helicopter-borne geophysical survey will result in approximately 132
line kilometres of data along east-west lines, spaced at 200 metres. The
Z-TEM Electromagnetic (EM) system is an innovative technique making use
of naturally occurring or passive EM fields from worldwide thunderstorm
activity as the source of transmitted energy. The passive source combined
with a proprietary receiver design, advanced digital electronics, and
signal processing results in low noise levels, exceptional resolution,
and unparalleled depth penetration. It has been used successfully to
identify and map porphyry style mineral systems from Alaska to Chile.

    Patrick Highsmith, Bellhaven's CEO, commented on the program: "We are
pleased to bring the ZTEM technology to the Middle Cauca Belt for the
first time. It is a proven technique for porphyries in the Americas. This
will enable us to prioritize existing geochemical and magnetics
anomalies, including on concessions that we are in negotiations to
acquire. This is a very cost effective tool that adds immediate value in
an emerging mineral district such as La Mina. By sharing the mobilization
and some of the administrative costs with neighboring explorers, we have
made it even more cost effective."

    Discussion of ZTEM Survey

    The survey is expected to identify conductive and resistive features that
are associated with large mineral systems such as gold-copper porphyries
from surface to considerable depth. The electromagnetic data is sensitive
to sulfide minerals, as well as silicification and clay alteration; all
of which are associated with the porphyry and epithermal deposits in the
Middle Cauca Belt. This will be an important addition to the magnetics
data that drove the initial discoveries. The EM data will advance the
geologists' knowledge of the known resource areas, particularly at depth,
but it will also upgrade the targeting arsenal elsewhere on the property.
This work will also enhance understanding of large structures in the
district. Many of these structures have previously been mapped from both
surface exposures and drill intercepts; and the Bellhaven team is focused
on their importance in controlling mineralization.

    The survey crew arrived on site November 17, and began conducting
reconnaissance flights a few days later. They are currently flying the
survey as cloud cover permits. It is expected that a total of 6 to 8 days
of favorable conditions is needed to complete data collection, so the
survey should be completed before the end of December.

    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

    On behalf of the board of directors,

    R. Patrick Highsmith, Chief Executive Officer


    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.

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

Contact in Panama:
Bellhaven Copper & Gold Inc.
Julio Benedetti
Int'l No: +507-226-3967

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