Bellhaven Signs Binding Letter of Intent to Option the Manganese Potential of the Viento Frio Mineral Property.



    PANAMA CITY, June 10 /CNW/ -- Bellhaven Copper & Gold, Inc. (TSX-Venture:
BHV) ("Bellhaven" or the "Company") is pleased to announce the signing of a
binding Letter of Intent ("LOI") with Global Min-Metal Holdings SA ("GMM"), a
private company, granting GMM the option to explore and develop the Manganese
occurrences within the Viento Frio Mineral Property ("VFMP"), located in the
Colon Province of Panama.
    The LOI provides for a 90 day due diligence period for the parties to
sign a Definitive Agreement under the following terms: GMM will have the
option to earn up to an undivided 80% interest in any manganese orebodies or
Polymetallic orebodies containing manganese identified within the limits of
the VFMP. In order to earn this 80% interest, GMM will invest in exploration
and development US$4.0 million and make property payments totaling US$1.75
million over a three year period. The first payment of US$40,000 has been made
to Bellhaven at signing of the LOI. GMM will also have the option to earn an
undivided 20% interest in any precious metal orebodies discovered during the
same three year period of the exploration and development Agreement.
    Bellhaven will retain a 20% participation in any manganese orebodies or
Polymetallic orebodies containing manganese identified by GMM and an 80%
interest on any precious metal orebodies discovered by GMM exploration
efforts.
    Julio Benedetti, President and CEO of Bellhaven had the following
comments:
    "Our VFMP has been known for its manganese occurrences and past mining
activities dating back to the 19th century. Our previous exploration efforts
have focused on the gold potential of the property and this transaction with
GMM will allow Bellhaven to benefit from other type of mineral endowment of
the property."

    About Bellhaven Copper & Gold

    Bellhaven Copper & Gold Inc. is one of Panama's leading exploration
companies.
    Bellhaven controls highly prospective gold and cooper concessions that
are located in some of the most mineral-rich regions in the country.
    Gold has been mined in Panama as far back as the 1500's, when the Spanish
extracted a million ounces of high-grade ore from the Cana mine. During modern
times, the Santa Rosa and Remance gold mines operated during the 1990's and
the Molejon Gold Project is scheduled to come online in 2008. Bellhaven's
Cerro Quema project is slated for production in 2009. Adding greatly to the
strength of the Company is the fact that many of its senior management and
board members are residents and/or citizens of Panama. Bellhaven has recently
expanded with Colombia, Panama's neighboring the east, having acquired
controlling interest of a high grade gold mine.

    On behalf of the board of directors,


    Julio C. Benedetti, President, CEO


    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
Additionally, this document may contain certain forward-looking statements
which involve known and unknown risks, delays, and uncertainties not under the
Company's control which may cause actual results, performance or achievements
of the Company to be materially different from the results, performance or
achievements implied by these forward looking statements.





For further information:

For further information: Corporate Contact, Julio Benedetti of Bellhaven
Copper and Gold, Inc., +011(507) 226.3967, or IR & Financial Contact, Patrick
M. Abraham, Panama, (507) 340-9501, pabraham@panamerica-group.com, for
Bellhaven Copper & Gold, Inc., Web Site: http://www.bellhavencg.com

Organization Profile

Bellhaven Copper & Gold, Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890