Bellhaven Commences Ground Geophysical Surveys at the La Mina Porphyry Gold-(Copper) Project, Colombia

PANAMA, REPUBLIC OF PANAMA -- (Marketwire) -- 12/15/10 -- Bellhaven Copper & Gold Inc. (TSX VENTURE: BHV) ('Bellhaven' or the 'Company') is pleased to announce the commencement of ground-based induced polarization (IP), magnetometric, and radiometric surveys at the La Mina porphyry Au-(Cu) project in Colombia. The work program is being conducted inside a 1.5-km long by 0.6-km wide grid consisting of approximately 18.5 line-kilometers spaced 50-m apart. The surveys are being performed by ARCE Geofisicos SAC, an independent geophysical consulting firm headquartered in Lima, Peru.

The geophysical programs at La Mina are designed to delimit in greater detail the multiple porphyry gold-(copper) prospects and anomalies occurring within a known north-south corridor, including La Cantera, Middle Zone, El Limon, and El Tanque. To date, ten drill holes collared at La Cantera have yielded multiple intercepts containing 1 g/t Au or better over several tens of meters (e.g., 94 m @ 1.12 g/t Au, 0.31% Cu; 106 m @ 1.11 g/t Au, 0.40% Cu; 87.3 m @ 1.07 g/t Au, 0.30% Cu; and the most recently reported intercept, 126 m @ 1.02 g/t Au, 0.36% Cu). Four drill holes sited at the new Middle Zone discovery have delivered best intercepts of 94 m @ 0.76 g/t Au and 0.39% Cu and 76.83 m @ 0.70 g/t Au & 0.27% Cu starting at 1.52 m depth.

For maps showing the location of the geophysical surveys with respect to the concession block, the principal exploration targets, and the existing drill holes, please use the following link: http://media3.marketwire.com/docs/b1214.pdf

Paul Zweng, Bellhaven's Interim CEO and Director, commented as follows:

'We are pleased the geophysical programs are now underway over a select area at La Mina. Our geologic understanding of the partially-drilled La Cantera prospect will serve as a model by which to interpret the IP, magnetometric, and radiometric data over the rest of the grid. These data will serve to define better the known gold-(copper) prospects such as the Middle Zone, El Limon, and a new area of interest, El Tanque, located less than 500 m to the NE of La Cantera. They will also help to characterize other areas of alteration-mineralization known only through rock-chip and soil sampling programs as well as reconnaissance geologic mapping.'

'Our goal is to complete the geophysical fieldwork by year end and to commence interpretation of the data in early January. These data will be a great aid to our 2011 drilling program.'

This news release has been prepared under the supervision of Mr. Thomas J. Drown, P.Geo., who serves as the qualified person as defined by National Instrument 43-101 responsible for ensuring that the geological information in this release is accurate.

About the La Mina porphyry Au-(Cu) prospect

La Mina (also known as Venecia) lies within the Middle Cauca belt of Miocene-age volcano-plutonic rocks in central Colombia known to host large porphyry gold deposits such as La Colosa (12.9 Moz Au contained in 468 Mt @ 0.86 g/t Au; AngloGold Ashanti), Titiribi (3.7 Moz Au contained in 230 Mt @ 0.5 g/t Au; Sunward Resources), Quebradona (AngloGold Ashanti - B2Gold), Quinchia (Batero Gold), and Yarumalito (Colombian Mines), as well as large epithermal gold districts such as Marmato (7.5 Moz Au contained in 245 Mt @ 0.95 g/t Au; Medoro Resources).

In mid 2006, AngloGold Ashanti and Bema Gold drilled six holes into the La Mina porphyry (now called the La Cantera prospect), with Holes 2 and 5 yielding 90 m intercepts of greater than 1 g/t Au and significant copper at shallow depths.

The most important host rocks observed in drill core include the Combia Formation intermediate volcanic rocks as well as early, intra- and post-mineral diorite porphyry. Alteration is typical of gold porphyry deposits as exemplified by a potassic-calcic core encircled by sericitic, intermediate argillic, and propyllitic alteration zones. Specifically, most of the gold and copper discovered so far at La Cantera are spatially associated with quartz-magnetite-chalcopyrite /- bornite veinlets in potassic altered porphyry and breccias containing elevated quantities of hydrothermal magnetite. As a result, the gold-bearing rocks are highly magnetic (ca. 200x10(-3)SI) which creates a sharp contrast with the barren and weakly magnetic intermediate argillically altered rocks as well as the non-magnetic sericitically altered rocks that surround the potassic core.

Three other important targets occur due north of the La Cantera target: Middle Zone, El Tanque, and El Limon. These three areas form a 1.5 km long by 0.5 km wide magnetic anomaly containing elevated values of gold and copper in rock-chip and soil samples.

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 one of 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 Pitaloza and three other high-sulphidation epithermal gold-(copper) and porphyry copper prospects located on the Azuero Peninsula in Panama.

For more information regarding Bellhaven, please visit our website at www.bellhavencg.com.

On behalf of the board of directors,

Paul L. Zweng, CEO & Director

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.

Corporate Contact in North America:

Paul Zweng, CEO/Director

1-808-377-1947
pzweng@bellhavencg.com


Bellhaven Copper & Gold Inc.

Corporate Contact in Panama:

Julio Benedetti, President/Director

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