Bellhaven Closes Private Placement

PANAMA, REPUBLIC OF PANAMA -- (Marketwire) -- 07/02/10 -- Bellhaven Copper & Gold, Inc. (TSX VENTURE: BHV) ('Bellhaven' or the 'Company') is pleased to announce that it has closed a non-brokered private placement of 3,636,000 units at a price of C$0.22 per unit for total gross proceeds of C$799,920.20. Each unit is comprised of one common share of the Company and one-half of a share purchase warrant. Each full share purchase warrant will entitle the holder to acquire one common share of the Company at a price of C$0.30 for a term of 18 months from the date of issuance. The securities that were issued under the private placement are subject to a four-month hold period expiring on October 31, 2010.

A finder's fee of C$39,996.20 and 181,800 finder's warrants were paid to Cormark Securities, Inc. in connection with this offering. Each finder's warrant entitles the holder to acquire one common share of the Company for C$0.30 within 18 months of the date of issuance.

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 become among the best gold-copper companies operating in Panama and Colombia by discovering, acquiring, and developing high-quality resources in a safe and responsible manner to the benefit of all of its stakeholders.

The Company's principal assets include the La Mina porphyry gold-(copper) project in the Middle Cauca belt of Colombia, the high-sulphidation epithermal gold-(copper) and porphyry copper prospects located on the Azuero Peninsula in Panama, and the La Ventura prospect in the San Lucas gold belt in northeastern Colombia. In addition, Bellhaven controls 100% of the Cerro Quema gold-(copper) project also located on the Azuero Peninsula in Panama. The Company announced a letter of intent (LOI) with Pershimco Resources (TSX VENTURE: PRO) on January 4th, 2010, to develop Cerro Quema, whereby Pershimco can earn up to a 75% equity interest in the project, through payments and project spending of US$18.5 million, and can acquire an additional 10% interest for US$5 million.

On behalf of the board of directors,

Paul L. Zweng, Interim CEO & Director

BELLHAVEN COPPER & GOLD, INC.

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.

Paul Zweng, Interim CEO/Director

Corporate Contact in North America

+1-808-377-1947


Bellhaven Copper & Gold, Inc.

Julio Benedetti, President/Director

Corporate Contact in Panama

Int'l No: +507-226-3967
www.bellhavencg.com