News Releases 2010
bellhaven copper & gold inc
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Mon December 21, 2010.

Bellhaven commences Drilling at its High-Sulphidation Epithermal Gold Prospect at Bejucosa, Pitaloza, Panama
Applications for all Mineral Exploration Concessions Located within Panama's Azuero Peninsula Now in Progress

Panama, Rep. of Panamá – December 21, 2010. Bellhaven Copper & Gold Inc. (TSX-Venture: BHV) (“Bellhaven” or the “Company”) is pleased to announce that the first drill hole at Bejucosa, one of three prospects at Bellhaven’s 100%-owned Pitaloza project, is now under way. Bellhaven’s 4,000-m drilling program is focused on testing feeder zones and massive silica exposed in trenching and outcrops at both the Bejucosa and Caracucho prospects. These targets have been identified by past exploration efforts, yielding substantial intercepts in excess of 1 g/t Au in select trenches (Bejucosa and Caracucho) and drill holes (Caracucho only—no prior drilling had occurred at Bejucosa). See press releases of April 13th, June 3rd, July 8th, July 28th, and August 3rd for more details.

 

 

 

The Company is also pleased to report that all of its applications for exploration concessions located within Panama’s Azuero Peninsula, which previously had been submitted to the Department of Mineral Resources within the Ministry of Industry and Commerce, have been accepted and are now in process.  Management believes its applications for mineral exploration concessions, as well as its request to extend for two years the previously granted mineral exploration concession known as Pitaloza, will be issued within the appropriate time frame.

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

“We are pleased to be drilling now at our first exploration project at Pitaloza in Panama.  There are numerous targets at Pitaloza, so we expect to drill substantially more than 4,000 m in the weeks ahead.  We will start drilling first at Bejucosa and then later move to Caracucho.  Besides our drilling program, we are moving rapidly to initiate a number of new exploration programs at our other high-sulphidation epithermal prospects located on the Azuero Peninsula.  We anticipate that these initiatives will substantially advance the other projects, producing additional drill-ready sites for 2011.”
 
“We are also pleased to receive the acceptance of our applications and concession extension from the Government of Panama.  We look forward to the finalization of the process in the upcoming year.”
 
About the Pitaloza high-sulphidation epithermal gold project, Panama
 
The Pitaloza project, owned 100% by Bellhaven, hosts three high-sulphidation epithermal gold-(copper) prospects:  Bejucosa, Cementerio, and Caracucho.  High-sulphidation epithermal deposits host half of the known gold resources (80 Moz) in the Caribbean Basin and yield annual production in excess of 3 Moz of gold in Peru, alone.
 
The current fieldwork program at Pitaloza is directed toward the Bejucosa, Caracucho, and Cementerio prospects.  At Bejucosa, hydrolytic alteration has been mapped over a 1000 m by 500 m area by previous workers.  Bellhaven dug exploration trenches at Bejucosa in 2006 yielding the following results:  Trench 1—52 m of 2.3 g/t Au; Trench 2—16 m of 1.8 g/t Au; Trench 3—12 m of 8.9 g/t Au, and Trench 4—34 m of 0.6 g/t Au.  Trenches dug by Bellhaven in 2010 delivered 18 m of 4.4 g/t Au, 6 m of 1.6 g/t Au, and 10 m of 1.0 g/t Au, respectively, from Trenches A, B, and C (see press release of July 8, 2010).
 
Access to Pitaloza from Panama City is by the paved Pan-American Highway and then 10 km by unimproved dirt road.  There is adequate water and labor in the area to service the project.
 
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 Bellhaven
 
Bellhaven Copper & Gold Inc., is a Canadian-listed (TSX-V: 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 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, Interim CEO & Director
BELLHAVEN COPPER & GOLD INC. 


Corporate Contact in North America:                 Corporate Contact in Panama:    
Paul Zweng, CEO/Director                                      Julio Benedetti, President/Director
+1-808-377-1947                                                  Int’l No: +507-226-3967
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For more information, please visit the Company’s web site at www.bellhavencg.com

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.
 
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.  Readers are cautioned not to place undue reliance on forward-looking statements.