Bellhaven Copper & Gold Inc. ("Bellhaven or the Company") and Dominion Minerals Corp. ("Dominion") Announce Major Resource Increase for Cerro Chorcha



    
    SIGNIFICANTLY ENLARGED OVERALL RE

SOURCE - New NI 43-101 resource estimate following highly successful 2007/'08 drilling campaign - Resource category upgraded to Indicated for 60% of mineralization - Indicated mineral resource of 117.4 million tonnes, grading 0.51% copper, 0.07 g/t gold and 1.7 g/t silver, and an additional Inferred mineral resource of 84.5 million tonnes, grading 0.46% copper, 0.07 g/t gold and 1.9 g/t silver, using a 0.2% Cu cut-off grade - Total in-situ copper of 2.17 billion lbs - 52% increase from previous estimate - Total in-situ gold of 449,000 oz - 75% increase from previous estimate - Presence of silver mineralization confirmed and quantified - Resource continues to be open-ended both at depth and extremities HIGH GRADE ZONE CONFIRMED AND QUANTIFIED - Large area of high-grade copper-gold-silver mineralization in central portion of Cerro Chorcha confirmed - High-grade zone has an Indicated mineral resource of 24.1 million tonnes, grading 0.97% copper, 0.16g/t gold and 3.1 g/t silver, and an additional Inferred mineral resource of 13.3 million tonnes, grading 0.86% copper, 0.16g/t gold and 3.2 g/t silver, using a 0.65% Cu cut-off grade - Mineralization of high-grade zone is open at depth and in multiple directions - High-grade zone surrounded by a medium grade envelope, with copper grades ranging from 0.4% to 0.6% OUTLOOK: 2008/'09 DRILLING CAMPAIGN - Drilling strategy for funded 2008/09 campaign determined and to commence imminently - Targeted drilling programme of over 10,000 meters to focus on high-grade zone PANAMA CITY, Panama, Sept. 4 /CNW/ -- Bellhaven Copper & Gold Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") and its JV partner Dominion Minerals Corporation (Pink Sheets: DMNM) ("Dominion") are delighted to announce today an update to the April 2006 NI 43-101 compliant technical report and mineral resource estimate for the Cerro Chorcha porphyry copper project in Panama. Based on the new resource estimate, the Cerro Chorcha project hosts a porphyry copper deposit with an Indicated mineral resources of 117.4 million tonnes grading 0.51% Cu, 0.07 g/t Au and 1.7 g/t Ag, and an additional Inferred mineral resource of 84.5 million tonnes grading 0.46% Cu, 0.07 g/t Au and 1.9 g/t Ag, using a 0.2% Cu cut-off grade. This represents an increase in total in-situ copper to 2.17 billion lbs (52% increase from previous estimates), and gold to 449,000 oz (75% increase from previous estimates). The presence of silver mineralization has been confirmed and quantified for the first time as part of this NI 43-101 report. Importantly, the update NI 43-101 technical report also confirms the presence of a large area hosting high-grade copper-gold-silver mineralization in the central portion of Cerro Chorcha; please see below for additional information regarding the high-grade zone. This follows the completion of the highly successful 2007/'08 drilling program consisting of 11 holes for a total of 3,610 metres and the completion of a high-precision 3D topographic survey which facilitated the resource category upgrade. The update NI 43-101 technical report was prepared by Michael D. Druecker, Ph.D, P.Geo, an Independent Qualified Person for Damien Consultants, Houston, Texas; the updated resource estimate was prepared by Robert L. Sandefur, Senior Resource Analyst and Independent Qualified Person for Chlumsky, Armbrust, and Meyer L.L.C., (CAM) of Denver, Colorado. High-grade zone The report confirms the presence of an area with high-grade copper-gold-silver mineralization within the central portion of the property. This high-grade zone has an Indicated mineral resource of 24.1 million tonnes, grading 0.97% copper, 0.16g/t gold and 3.1 g/t silver, and an additional Inferred mineral resource of 13.3 million tonnes, grading 0.86% copper, 0.16g/t gold and 3.2 g/t silver, using a 0.65% copper cut-off grade. The mineralisation remains open at depth and in multiple directions, and all holes drilled to date appear to indicate potential for the significant extension of the high-grade mineralized zone. This will be investigated further in the 2008/09 drilling campaign comprising 26 holes over a total of more than 10,000 meters, which shall include a deep drilling campaign consisting of 13 holes totalling c. 6,550 meters (see below for further detail). The report further confirms that, at Cerro Chorcha, gold grades can be significant and tend to correlate well with high-grade copper mineralization. Gold values were consistently assayed for in all drill holes. Previous trench results returned average grades of 0.66 g/t Gold and 9.72 g/t Silver over a trench length of 585 meters. Considering the meaningful intersects encountered at several holes drilled to date (previously announced in detail), the Company and Dominion expect copper and gold grades to increase as the high-grade zone is explored at further depth. New NI 43-101 compliant resource estimates Table 1: New mineral resource estimate (0.2% Cu Cut-off) Tonnes (million) Cu (%) Au (g/t) Ag (g/t) Indicated 117.4 0.51 0.07 1.72 1.31 Blbs Cu 266,000 oz Au 6.50 Moz Ag Inferred 84.5 0.46 0.07 1.87 0.86 Blbs Cu 183,000 oz Au 5.08 Moz Ag Table 2 - New mineral resource estimate (0.65% Cu Cut-off) Tonnes (million) Cu (%) Au (g/t) Ag (g/t) Indicated 24.1 0.97 0.16 3.06 0.52 Blbs Cu 121,000 oz Au 2.37 Moz Ag Inferred 13.3 0.86 0.16 3.21 0.25 Blbs Cu 68,000 oz Au 1.37 Moz Ag This new mineral resource estimate was prepared by CAM utilizing an inverse distance squared block model based on assay results from 46 drill holes (10,646 meters) and includes all pertinent data through June 2008. Julio Benedetti, President and CEO of Bellhaven commented as follows: "These results are very encouraging and confirm the effectiveness of the 2007/08 drilling program having substantially increased the mineral resources while also confirming our expectations of the near surface high grade zone. We look forward to the initiation of the 2008/09 drill program, which is scheduled to start this month." Pini Althaus, Chairman and CEO of Dominion Minerals commented as follows: "We are delighted to announce that our focussed 2007/08 drilling campaign delivered these substantial increases in tonnage and grade as well as the resource category upgrade. In addition, we are particularly pleased to have independent confirmation of the presence of a sizeable high-grade zone at the core of our deposit. All this confirms the enormous potential of Cerro Chorcha. We are confident that the substantially larger and imminent drilling program, for which we already completed a successful US$10 million capital raise recently, will continue to deliver on our expectations in terms of size, quality and scale of this unique orebody, located in Panama, a country of enormous resource wealth." Outlook: 2008/'09 drilling campaign and beyond Three principal objectives have been identified for the upcoming drilling campaign 26 holes, over more than 10,000 meters): -- High grade zone - deep drilling: All holes drilled to date (vertical depth of 230 meters), appear to indicate potential for the significant extension of the high-grade zone at further depth as evidenced by mineralized structures observed in drill core and on cross sections. This potential will be further investigated in a deep drilling campaign (up to 600 meters depth) consisting of 13 holes totalling approximately 6,550 meters in the high-grade zone. -- Step-out drilling: A "step-out" drill program of 9 holes totalling 2,850 meters to provide additional continuity to the geological model and further expand and define the mineralization at Chorcha which remains open in almost every direction. -- New exploration targets: Based on geological, geochemical and geophysical (aeromagnetic) data, several anomalous target areas within Cerro Chorcha remain untested adjacent to known mineralized areas. The Company and Bellhaven wish to investigate this further over the coming months in a targeted drilling exercise of 4 holes, totalling 1,000 meters. Bellhaven and Dominion expect the 2008/09 campaign to commence in September 2008 and its results to be reflected in an updated resource estimate, which is expected to be published in the first half of 2009, following which a pre-feasibility study is expected to be published by the end of 2009. The resource estimates summarized in this release will be filed as part of an update technical report compliant with National Instrument 43-101, which will be posted on SEDAR and on the websites of Dominion and Bellhaven within 45 days. Mineral resources do not have demonstrated economic viability and future drilling and scoping, pre-feasibility and feasibility studies will determine what portion of the indicated and inferred resources can be classified into a mineable category. This news release has been prepared under the supervision of Michael D. Druecker, Ph.D., 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. For further information from Bellhaven please contact: Bellhaven Copper & Gold Inc. PanAmerica Capital Group, Inc. Julio C. Benedetti, President & CEO Patrick Abraham Tel: +507-226-3967 Tel: +507-340-9500 Email: benedettijulio@hotmail.com Email: pabraham@panamerica-group.com Web Site: http://www.bellhavencg.com Forward-Looking Statement Disclaimer This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address continuing to Canada, exchange listing application, additional financing, seeking and acquiring new projects and gaining recognition are forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, the market price of gold, general economic conditions, market and business conditions, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to the Company's plans at its mineral properties, the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal recoveries, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis, the effect of hedging activities, including margin limits and margin calls, regulatory restrictions, including environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. In addition, the Company's business and operations are subject to the risks set forth in the Company's most recent Form 10-KSB, Form 10-QSB and other SEC filings which are available through EDGAR at http://www.sec.gov. These are among the primary risks we foresee at the present time. The Company assumes no obligation to update the forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.

For further information:

For further information: Julio C. Benedetti, President & CEO of
Bellhaven Copper & Gold Inc., +507-226-3967, benedettijulio@hotmail.com, or
Patrick Abraham of PanAmerica Capital Group, Inc., +507-340-9500,
pabraham@panamerica-group.com, for Bellhaven Copper & Gold Inc. Web Site:
http://www.bellhavencg.com

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Bellhaven Copper & Gold, Inc.

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