PANAMA CITY, March 21 /CNW/ -- Bellhaven Copper & Gold, Inc.
(TSX-Venture: BHV) ("Bellhaven" or the "Company") further to its release of
March 7, 2007, Bellhaven Copper & Gold is pleased to announce that it has
received the first of four USD$500,000 cash installments from Empire Minerals
Corp. (OTC: EMPL) arranged through an option agreement that allows Empire to
acquire an interest in Bellhaven's Cerro Chorcha Copper Property. Over the
next 3 years, Empire will pay an additional USD$1.5 million in cash, USD$4
million in stock, and USD$15 million in exploration and development
expenditures at Cerro Chorcha, to earn a 65% interest in the Cerro Chorcha
Copper Property. Upon delivery of a bankable feasibility study, Empire will
earn an additional 10% for a total of 75% interest in the property. Bellhaven
will pay an unrelated, arm's length party a finder's fee in connection with
the Empire option agreement.
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 toll free at 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 investors,
Miguel Villahermosa, 866-599-5930 Web Site: http://www.bellhavencg.com/