Bellhaven Copper & Gold Inc. Announces Mark Gelmon as CFO
VANCOUVER, Sept. 15, 2016 - Bellhaven Copper & Gold Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") is pleased to announce the immediate appointment of Mr. Mark Gelmon to the position of Chief Financial Officer. Mr. Gelmon has provided financial and regulatory expertise to TSX Venture Exchange listed companies in the capacity of director, chief financial officer, and consultant for the past 21 years. His background and skills as a CPA, CA (1995) provides the Company with the skills required for financial management, reporting operating results, liaison with financial institutions, and compliance with today's complex regulatory reporting requirements. Mr. Gelmon has been a partner at iO Corporate Services (Vancouver) since 2007.Dr. Paul Zweng, Bellhaven's CEO and Chairman, commented as follows:
"We are delighted to engage Mark as Bellhaven's CFO. He has a long history assisting Bellhaven in the past and we are pleased to have him now officially in this new role. Millie Paredes, Bellhaven's COO and president, the board of directors, and I look forward to working with Mark in the months ahead as we continue to build a better Bellhaven."
About Bellhaven
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX-V: BHV) exploration company exploring for gold and copper in Colombia. The Company's goal is to be a leader in gold and copper development in Colombia. 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 inferred resource now includes 1.6 Moz gold and 419 million 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 effective date for this inferred resource is September 15, 2013. 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 concession. For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.
The scientific and technical information in this news release was prepared under the supervision of Mr. Thomas J. Drown, P.Geo. Mr. Drown has more than 25 years relevant experience and is a British Colombia Professional Geoscientist. He has been 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.
On behalf of the board of directors,
Milagros "Millie" Paredes
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.
Gold equivalent grades have been calculated using the following formula: AuEq = Au(g/t) + [Cu(%)} x {%Recoverable Cu / %Recoverable Au} x {Net Cu Price/Net Au Price} x {%Payable Cu / %Payable Au x 22.0462 x 31.1035]. Metal recoveries are estimates based on metallurgical results announced in Bellhaven's news release dated Nov. 15, 2011. Net metal prices for gold and copper are the long-term forward curve metal price minus refining charge. Metal prices based on the long-term forward curve are as of May 8, 2013 (US$1482 for gold and $3.40/lb for copper). Metal refinery charges and % payable metal by the smelter are estimates based on third-party consultants. Metal prices, refinery charges and % payable metal are not constant and are subject to change. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves.
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.
SOURCE Bellhaven Copper & Gold Inc.
Contact
Corporate Contact:
Mrs. Milagros "Millie" Paredes, President/COO/Director
Tel: (971) 344-1500
mparedes@bellhavencg.com