Bellhaven Copper & Gold Identifies Strong IP Anomalies Coincident With Gold-In-Trenches at Its Wholly Owned Azuero Property in Southern Panama

    PANAMA CITY, March 24 /CNW/ -- Bellhaven Copper & Gold, Inc. (TSX-
Venture: BHV) ("Bellhaven" or the "Company") is pleased to report results of
the recently completed 8 line-km induced polarization (IP) geophysical survey
over prospects within the Pitaloza Concession, at its 100% owned Azuero
Property in south-central Panama.  Bellhaven has identified several strong and
continuous IP geophysical anomalies coincident with altered, gold bearing
zones within a four (4) square kilometre area.  The geology in the area is
ideal for the development of bulk-tonnage, disseminated gold mineralization-
similar to what exists at Bellhaven's Cerro Quema Gold deposit (Measured and
Indicated Resource of 451,400 oz. gold) located about 15 kilometres southeast
of the Azuero Property.
    The IP survey was carried out to follow-up on alteration mapping and
gold-in-trench results at the Bejucosa, Caracucho, and Cementerio prospects.
Highlights from trenching at Bejucosa (see Feb. 22, 2006 news release) include
52 meters of 2.3 g/t gold and 12 meters of 8.9 g/t gold including 4 meters of
25 g/t gold.
    The survey identified a northwest-southeast trend of strong and
continuous IP (chargeability and resistivity) anomalies.  These IP anomalies
show excellent correlation with trenched, mineralized outcrops (Bejucosa and
Caracucho) that define two (2) one kilometer long, gold bearing zones.  A
parallel, 500-metre long IP anomaly (Cementerio) coincident with a trench
assay of 25 meters of 1.3 g/t gold (see April 18, 2007 news release) was also
delineated to the northeast of the main trend. The IP survey was conducted by
Fugro Ground Geophysics of Lima, Peru, using a time-domain system and a
25-meter dipole-dipole array, n = 1 to 10.  The interpretation, inversions of
pseudo section profile plots, was also performed by Fugro.
    With the completion of the IP survey, Bellhaven staff is integrating the
geophysical interpretations into the previous 2005-2006 exploration results to
prepare for a diamond core drill program in the next few months.  The proposed
drill program at the Bejucosa and Caracucho targets will test these exposed,
mineralized zones from the surface to 150 meters depth, to target high-
sulfidation gold mineralization within siliceous core zones associated with
advanced argillic alteration in the host volcanic unit.  A nine (9) hole, 1500
meter diamond core drill program is proposed to test these targets.
    At Cementerio, the drill program will test what appears to be an
extensive, largely un-eroded zone of advanced argillic alteration hosting high
sulfidation, epithermal gold mineralization.  A three (3) hole, 500 meter
diamond core drill program is proposed for this target.
    This news release has been prepared under the supervision of Michael D.
Druecker, Ph.D., P.Geo. who serves as the Qualified Person for this project
under National Instrument 43-101.
    About Bellhaven Copper & Gold
    Bellhaven Copper and Gold is one of Panama's leading exploration
companies. Bellhaven controls highly prospective gold and copper concessions,
totaling over 500 square kilometers, 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. These individuals have a record of success and achievement, and enjoy
excellent working relationships with the government, the native Indian tribes,
and within the worldwide mining community.

    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.

For further information:

For further information: Investor Relations, Miguel Villahermosa, 
1-866-599-5930, or Corporate, Julio Benedetti, +011 (507) 226-3967, both of 
Bellhaven Copper & Gold, Inc.; or AGORACOM Investor Relations, Web Site:

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