Bellhaven Announces Private Placement Available to Existing Shareholders

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 21, 2015) - Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company"). Further to its news release of October 14, 2015, the Company is pleased to announce that participation in the previously announced private placement (the "Private Placement") will be available to existing shareholders in qualifying jurisdictions in Canada and outside of the United States in accordance with the provisions of CSA Notice 43-103 and B.C. Instrument 45-354 (the "Existing Shareholder Exemption"). The Company has set October 13, 2015 as the record date for determining shareholders entitled to participate in the Private Placement in reliance on the Existing Shareholder Exemption. Participation by shareholders resident in the United States is limited to those who qualify as "accredited investors" under US Securities Laws.

In March 2014 the Company closed a private placement financing with the participation of two of our major shareholders. That financing allowed the Company to pay all outstanding debts and provided operating capital for the next 12 months, which has been stretched to 19 months. This financing was done with the idea that one year would provide sufficient time for the commodities markets to improve, which has not been the case.

The Company remains debt free, but requires an inflow of capital to continue in operation. The Private Placement is intended to raise the additional capital required to support a two-year operating budget. This new financing would provide Bellhaven sufficient operating funds until mid-2017. It would also provide the funds needed to acquire 100% ownership of La Garrucha gold and copper project and maintain our surface option agreement to purchase the surface rights over La Garrucha. Importantly, the financing allows keeping our flagship project - La Mina and La Garrucha-- whole.

Some of our major shareholders have indicated their willingness to participate in the Private Placement. Although we cannot guarantee allocation, we also would like to give the opportunity to all Bellhaven shareholders who qualify, the right to participate in this financing and maintain their share ownership of the Company.

Qualifying shareholders who wish to participate in the Private Placement should contact the Company at the contact information set forth below or by emailing the CEO, Julio Benedetti at juliobenedetti@bellhavencg.com. If the Private Placement is over subscribed for Units will be allocated pro-rata amongst all subscribers.

About Bellhaven

Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV) exploration company exploring for gold and copper in Colombia and Panama. The Company's goal is to be a leader in gold and copper development in Colombia and Panama. Bellhaven focuses 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 gold-(copper) porphyry deposit in the Middle Cauca belt of Colombia. The total La Mina resource now includes 1.6 Moz gold and 419 million Page 2 Suite 202 - 837 West Hastings Street Vancouver, B.C. V6C 3N6 Tel: (604) 684-6264 pounds of copper (or 2.55 Moz gold equivalent) contained in 79.9 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 average grade of 1.0 g/t gold equivalent makes La Mina one of the highest grade gold- (copper) porphyry deposits in the Americas. The Company is currently seeking to develop and to grow these resources through mine development and through ongoing exploration on the La Mina and La Garrucha concessions. For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.

On behalf of the board of directors,

Julio C. Benedetti, CEO and Executive Chairman

BELLHAVEN COPPER & GOLD INC.

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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.

Contact

Bellhaven Copper & Gold Inc.
Corporate Contact in North America:
Mrs. Milagros "Millie" Paredes
President/Director
U.S. Tel: (971) 344-1500
mparedes@bellhavencg.com