PANAMA CITY, April 24 /CNW/ -- Bellhaven Copper & Gold, Inc.
(TSX-Venture: BHV) ("Bellhaven" or the "Company") is pleased to announce that
it has established a Colombian subsidiary entitled, "Aurum Exploration, Inc.
(Colombia)." The establishment of the Colombian subsidiary is the next step
in Bellhaven's evaluation of four highly prospective gold and copper projects
located within the Republic of Colombia. These initial properties, all at
various stages of development, represent the current focus of Bellhaven's
Colombian expansion effort. The company will continue to perform all due
diligence on the properties and potential joint venture partners as it moves
closer to the acquisition stage.
Julio Benedetti, Bellhaven's President and CEO, said:
"I am very pleased to have accomplished this strategic mandate. We are
in an excellent position to leverage our local expertise, technical knowledge
and contacts to bring highly prospective properties from under-explored
Colombia into our portfolio. I am confident that we will be highly successful
in this regard."
Over the last few decades violence and lawlessness caused by the drug
trade and paramilitary groups operating in Colombia created a dangerous
operating environment, and despite its rich mineral heritage Colombia has
remained largely unexplored. However, since 2002, crime has fallen
substantially creating an environment conducive to mineral exploration and
over all business development. Foreign and Colombian investment within the
Republic has doubled since then, and Colombian stocks rose 119% in 2005
followed by an additional 17% in 2006. Additionally, foreign energy companies
have committed $1.5 billion to explore for crude oil and natural gas from no
investment in 1999 and AngloGold Ashanti, one of the world's largest gold
mining companies, recently moved its South American headquarters to Colombia's
capital city, Bogota.
Bellhaven is convinced, having watched these developments carefully, that
the drastic drop in crime, burgeoning middle class, and open exploration
environment legislated by the current administration will provide the company
with an excellent opportunity to leverage its local experience and knowledge
to acquire highly prospective property at a substantial discount. The company
is further convinced that the regional geology, bearing many similarities to
that of Panama in their bordering areas, will allow for a seemless transition
into the neighboring jurisdiction and a high chance of success as it relates
to the development of the proposed acquisitions.
Bellhaven Copper & Gold Inc. is a Panama-based mineral exploration
company with a portfolio of gold and copper properties in the Republic of
Panama. The company has issued 20,793,151 shares and has no debt. For more
information, please visit the web site at www.bellhavencg.com or call Miguel
Villahermosa at toll free 1-866-599-5930.
On behalf of the board of directors,
Julio C. Benedetti, President, CEO
BELLHAVEN COPPER AND GOLD, INC.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
For further information:
For further information: Julio Benedetti, +1-507-226-3967, or Investor
Relations: Miguel Villahermosa, 1-866-599-5930, both of Bellhaven Copper &
Gold, Inc.; Web Site: http://www.bellhavencg.com