News Releases 2014
bellhaven copper & gold inc
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Vancouver, B.C. - June 2, 2014. Bellhaven Copper & Gold Inc. (TSX-Ventures: BHV) (“Bellhaven” or the “Company”) is pleased to announce, subject to TSX-V Exchange approval, that it has reached settlement terms with all of its creditors whereby the company will issues shares in lieu of cash for a portion of debt obligations incurred throughout the course of business during calendar year 2013.  In addition to negotiated cash payments the company will issue an aggregate amount of stock to certain vendors totaling 2,192,760 shares (“Settlement Shares”) at a deemed price of C$.05 per share.  Upon completion of this shares-for-cash debt settlement and a negotiated cash payment to creditors due at the closing of the Company’s currently contemplated private placement financing, as announced on March 13, 2014, all of the debt incurred through the 2013 calendar year will have been extinguished.   Management anticipates all other accounts payable incurred year-to-date will be fully extinguished upon the closing of the currently contemplated private placement financing bringing all debt owed by the company to $0.


Issuance of the Settlement Shares remains subject to the acceptance  of the TSXV and are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.


Patrick Abraham, director states, “This is a good first step in healing the Company’s balance sheet and getting back on track toward growing shareholder value and price appreciation – two areas management will remain keenly focused over the foreseeable future.  As this process unfolds over the coming months, management will provide shareholders, via news disseminations, regular dates regarding the steps the Company has taken to reach its objectives.”


This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


About Bellhaven


The 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 goal is to be a leader in gold and copper development in Panama and 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 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 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



On behalf of the board of directors,


Patrick M. Abraham



Corporate Contact in North America:
Mrs. Milagros “Millie” Paredes, President/Director
U.S. Tel:  (971) 344-1500

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Corporate Contact in Panama:
Mr. Julio Benedetti, CEO/Chairman
Int'l No:  +507-226-1769

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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.


“The scientific and technical information in this news release was prepared under the supervision of Mr. Robert Wasylyshyn, P.Geo.  Mr. Wasylyshyn is an Independent Director of Bellhaven and has been involved in the mining and exploration industry in North and South America, as well as Europe for over 35 years. He is a member in good-standing with the Association of Professional Engineers and Geoscientists of the Province of B.C and is the Company’s qualified person as defined by National Instrument 43-101.


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.