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Press release from Marketwire

Belo Sun Releases Results for 85 Additional Drill Holes at Its Volta Grande Project

Monday, November 05, 2012

Belo Sun Releases Results for 85 Additional Drill Holes at Its Volta Grande Project17:21 EST Monday, November 05, 2012TORONTO, ONTARIO--(Marketwire - Nov. 5, 2012) -Belo Sun Mining Corp. (TSX:BSX) reports assays for 85 additional drill holes (corresponding to 27,261 meters) at its Volta Grande Project as part of its mineral resources expansion and upgrade drilling program.The results being released today are being incorporated into the company's database and will be used in the new mineral resource estimate update expected to be completed later this year. This mineral resource estimate update represents a very important milestone for the company as it will be the largest in terms of number of new holes (263) and meters (73,675) in the history of the Volta Grande Project (See press releases dated June 27th, 2012 and Sept 4th, 2012).Included in this release are the assay results from 59 additional drill holes from the Grota Seca deposit, 24 from the Ouro Verde deposit and 2 from the South block area. The complete results and selected cross sections are presented below. Highlights from the holes contained in this release include:Hole VVGD-542 (Grota Seca Cross Section 862.5W) intersected 39.00 meters grading 5.25 g/t Au (from 71.00 meters) including 12.00 meters grading 10.09 g/t Au (from 75.00 meters) Significant down dip intercepts at the Ouro Verde deposit such as in hole VVGD- 444 at section 725 NW with 12.10 meters grading 4.90 g/t Au (from 401.85 meters) and 16.73 meters grading 2.00 g/t Au (from 483.50 meters). Hole VVGD-566 which is located in the Ouro Verde / Grota Seca "Junction" (Ouro Verde Cross Section 350J) intersected multiple mineralized zones suggesting possible continuity of the mineralization between the two deposits. At the South Block, Grande Deposit the highlight is hole VVGD-465 with 4.65 meters grading 6.13 g/t Au. Helio Diniz, the Vice President of Exploration for Belo Sun, stated, "We are very pleased to see the results confirming our expectations about the quality of the Volta Grande gold deposits. In addition, the modelling of the deposits are meeting our expectations to deliver the new resource estimate before the end of the year, which will be incorporated into a new mining plan that will be the basis of the pre-feasibility study to be released in Q1 2013."At present Volta Grande has 2.85 million ounces in the measured and indicated category grading 1.69 g/t and 2.3 million ounces grading 1.81 g/t in the inferred category (see press releases dated April 25th, 2012 and June 11th, 2012). The focus of this campaign has been to upgrade inferred resources into the measured and indicated category and to expand the overall size of the resource estimate.TABLE 1 - DIAMOND DRILLING ASSAY RESULTSThe widths reported below represent the core width of the intercepts; true widths are expected to range between 85-95% of the core width.NR 11/07/2012Grota Seca DepositHole #From (m)To (m)Width (m)Au g/tVVGD-414111.00116.005.000.52and136.00142.006.000.59and171.00174.003.000.70and288.60293.004.400.78VVGD-42039.0044.055.050.86and118.00123.805.803.29and182.00187.405.401.38and321.00326.005.002.59VVGD-4400.003.703.701.04and51.0056.205.202.50and67.0079.7012.700.85and202.00205.403.401.36and245.00250.005.000.96and322.00325.003.005.17and330.50334.273.772.22and414.46419.805.340.76and509.00517.008.003.04VVGD-4560.005.005.001.03and80.6585.705.051.13and121.00134.0013.000.98and153.00155.802.803.89and177.04187.009.961.27and332.00340.008.007.35VVGD-45713.0017.004.000.54and146.60153.757.156.69VVGD-46444.0054.7510.751.68and221.00226.005.001.33and337.00342.805.800.72and354.00360.006.001.50VVGD-468191.55200.839.280.74and248.31252.003.690.51and266.00276.7010.700.57and339.00345.006.000.70and351.20354.203.000.99VVGD-4690.003.513.510.80and7.0011.354.350.58and37.0055.3018.300.57and171.33175.003.670.82and190.00195.005.000.67and237.70258.0020.301.11and340.00357.0017.002.21VVGD-4710.004.004.000.73and229.00233.754.750.74VVGD-4720.006.806.801.28and16.9528.1511.203.36and72.2579.006.750.64and92.64100.207.560.93and111.00116.155.152.71and190.25199.008.750.73and286.00296.4510.450.81and319.55337.6018.051.30and356.00359.203.204.64and404.15411.006.852.00VVGD-4760.005.055.051.17and11.7015.203.500.59VVGD-477 NSR VVGD-47815.3019.003.701.38and85.0089.004.001.51and121.00126.505.500.63and141.20145.003.800.74and208.75214.005.250.54and329.00337.008.000.85VVGD-47938.0047.459.450.55and51.1271.0019.880.76and75.0084.009.001.27VVGD-4800.006.306.300.71and176.94182.355.417.21and213.00222.009.000.93and248.72253.004.287.87VVGD-4810.003.253.251.21and241.00248.807.801.44and254.00260.006.000.56and396.40408.0011.600.94and417.00432.6015.602.63VVGD-48374.9083.008.100.63and213.25215.452.203.04VVGD-485159.09165.716.620.71and182.65188.205.554.73and195.55198.803.250.55and203.80212.008.200.63and226.90230.803.900.84VVGD-489 NSR VVGD-4910.0031.1031.100.83and71.0077.106.105.78and113.85117.403.552.03and174.00177.703.700.63and267.00276.109.101.02and291.50303.6012.105.75and309.00319.0010.001.75VVGD-494168.00173.005.000.97and239.35250.0010.650.74and259.90267.757.850.92VVGD-49585.0091.506.502.14and105.00114.009.001.29and145.00153.008.001.15and165.00169.154.150.50and208.00213.255.255.16and249.00261.0012.001.70and274.00278.004.002.72and282.50304.7022.200.92and313.25317.003.750.63and477.00482.855.850.51and489.20492.203.008.04VVGD-499232.00240.808.801.85and262.00276.0014.001.18VVGD-501125.35129.003.650.50and141.65144.753.100.58and159.00165.306.300.91and177.70182.064.362.02and186.00192.006.000.74and200.00203.003.000.73and232.00235.303.300.67VVGD-502123.20126.002.801.40and172.00183.0011.000.59and189.00193.764.760.61and196.00200.004.000.54and207.00210.003.000.99and218.00223.005.001.49and243.00251.008.004.03and268.07273.004.931.02and287.66295.007.341.00and429.00436.007.002.70and456.00460.004.002.84VVGD-5030.003.003.000.52and66.9071.004.100.56and95.6299.003.380.62and228.60232.904.306.06and246.00249.003.003.79and353.03357.504.470.86VVGD-50547.0050.253.251.55and76.8080.003.201.31VVGD-50747.4365.1517.723.95and140.00144.004.000.59VVGD-50852.0060.008.001.29and121.00140.0019.000.60and221.00228.007.000.69VVGD-509113.40116.723.320.80and130.00133.003.000.81VVGD-5100.003.703.702.16and50.8056.405.600.61and112.00116.004.001.03and160.89166.405.512.98and170.12173.853.731.34and189.00192.403.400.89and207.00211.844.846.87and218.00227.809.804.07VVGD-5110.008.008.000.70and126.10130.003.900.89and144.05153.008.950.93and158.40162.003.600.59and165.30169.203.900.71and190.50194.904.400.54VVGD-51267.0069.002.001.85and143.20146.953.751.97and191.00199.208.200.99VVGD-5130.006.006.000.64and18.0032.0014.000.52and183.00187.004.004.09and218.00224.006.001.55VVGD-5140.005.005.0012.61and70.5072.802.3034.50and117.20120.303.100.81and126.55133.006.450.51and168.85173.504.651.68and182.00197.8815.880.81and212.75220.507.752.53and243.50248.054.551.47and325.00329.504.500.68and342.96377.7334.771.63Including362.15373.5011.352.33and461.74465.003.260.80and490.60501.2410.640.91and510.20513.593.390.76VVGD-517126.80139.3912.592.44and145.85149.203.351.89VVGD-5180.003.803.800.98and16.0022.706.701.31and63.5577.0013.451.33and99.00104.005.000.57and111.00116.005.001.36and130.00139.009.001.00VVGD-5200.004.804.800.62and111.00114.303.301.56and159.00163.004.000.54VVGD-5230.004.004.000.91and14.3018.504.201.11and42.0046.004.002.43and77.3583.806.450.61and91.75100.759.000.82and104.50108.654.151.33VVGD-5260.006.006.000.64and11.0015.004.000.79and57.0061.004.000.72and65.8068.002.208.29VVGD-530142.00150.008.000.67and156.00171.0015.000.92and199.00204.005.000.95and221.00224.603.603.49and303.00306.003.002.25and373.00376.403.401.29and385.00392.307.301.55and402.40407.004.600.82and414.00418.004.002.65and423.00431.008.000.52and440.00446.006.000.62and462.00473.0011.001.09and538.00544.006.007.74and572.50582.6010.100.67and620.00624.004.000.80VVGD-5310.004.004.001.69and46.8053.456.650.75and65.0069.454.450.91VVGD-5333.5128.0024.492.83Including11.0028.0017.003.91VVGD-5340.006.106.101.83and54.0060.006.000.72and68.0071.403.401.41VVGD-5350.003.003.000.54and80.7296.0015.283.10VVGD-53817.3524.877.520.85and95.00104.209.200.82and147.80161.0013.201.02and177.00182.205.202.43and204.00207.003.000.81and258.00262.004.001.87and267.85271.003.150.86and277.00280.003.000.52and299.00303.204.200.53and359.41363.804.391.12VVGD-53949.0057.008.000.59and67.0078.0011.000.75and81.70101.3719.671.19Including83.0091.008.002.04and105.00110.075.070.57and119.00122.003.000.62and152.00154.202.2016.32VVGD-5427.0017.0010.000.55and31.0035.004.001.22and39.3063.0023.700.85and71.00110.0039.005.24Including75.0087.0012.0010.09VVGD-5438.0014.406.401.23and118.60125.056.453.21and137.69144.456.760.67VVGD-5450.005.005.000.67and51.0067.0016.003.11and106.62111.004.380.60and175.00194.0019.002.02and198.87206.007.130.76VVGD-550 NSR VVGD-5510.008.408.400.57VVGD-5530.004.574.571.21and102.00107.205.200.55and132.00136.304.300.78and149.00154.005.000.57and166.60175.008.401.46VVGD-55624.1027.403.300.93and36.0039.003.000.87and103.75107.703.950.71VVGD-5610.003.503.501.07and14.6029.0014.400.54and127.40131.003.600.58and174.40184.7010.303.25and198.60203.204.604.05and229.60231.752.158.74and259.00281.0022.000.89and350.00358.008.000.58and367.00370.603.601.57and412.40418.506.100.86and463.00469.006.001.97and480.00485.005.000.72and534.40538.003.601.01and559.00566.607.600.85and587.00590.003.000.58and615.00618.203.201.86VVGD-5630.005.005.000.66and175.00179.704.701.82and247.00250.003.000.56VVGD-56926.0028.002.001.86VVGD-570100.20104.624.421.47VVGD-57756.2158.702.495.97NR 11/07/2012Ouro Verde DepositHole #From (m)To (m)Width (m)Au g/tVVGD-40498.00101.003.001.80and195.17201.005.830.55and236.00242.006.001.84and264.00268.004.000.55and273.70283.009.301.03and288.00300.0012.001.70and328.00333.005.000.63and371.00374.003.0018.97and381.00390.009.001.52and485.00489.004.003.00VVGD-407148.00153.005.000.73and174.00181.897.890.66and185.00193.008.001.22and234.60240.005.401.31and254.25263.008.750.94and271.00280.409.400.74and293.60299.005.400.71and373.00381.008.002.54and418.00421.003.001.11VVGD-436 NSR VVGD-4380.006.606.602.36and112.60116.083.480.92and125.97137.0711.101.63and148.90153.905.000.70and166.50178.0011.502.43VVGD-44480.0085.005.009.20and124.00131.457.451.74and135.40141.125.727.54and235.48247.3811.900.92and255.46266.0010.540.98and297.25306.208.950.94and338.00342.454.451.12and353.95361.257.300.63and374.25381.407.150.97and401.85413.9512.104.90and425.34459.2533.911.13including435.85442.226.372.94and463.00468.505.502.01and483.50500.2316.732.00VVGD-47023.8529.005.151.44and33.5038.204.701.08VVGD-474175.00183.008.000.50and188.90207.1518.251.49and287.00330.0043.001.45and360.00379.3019.301.30and453.30462.008.705.36and492.00495.203.200.61VVGD-482113.00119.516.510.82and141.00151.0010.001.12and155.00158.153.151.69and174.00177.703.700.50and234.84237.102.263.35VVGD-488230.00237.007.000.66and263.10275.6612.563.90and285.00293.008.000.56and301.50310.008.501.51and314.00317.003.000.96and333.00336.603.602.31and342.40357.0014.601.67and399.00407.008.000.75and448.00451.703.700.64and457.50459.602.1019.35and463.80467.003.201.92and472.00480.008.002.30and493.00502.009.001.44and514.00517.963.965.45VVGD-49889.0098.009.001.94and177.00186.009.001.65and200.00209.509.500.66and222.40225.002.608.09and238.00242.004.000.52and259.00282.2023.201.27and290.70294.804.100.81and303.00313.0010.000.65and320.92325.004.080.53and349.00356.007.000.73and363.00372.009.002.20and388.00394.406.401.35and434.00445.3711.373.02VVGD-504358.60364.055.453.21and405.00426.7521.752.93including417.60426.759.155.89and447.32459.7512.431.13and480.00491.0011.000.89and496.00500.004.000.60and574.55583.709.151.23VVGD-50680.2583.052.801.71and149.00151.002.002.01and208.00217.009.002.06and223.20229.135.930.78and250.10265.4915.391.86including250.10256.856.752.78and272.00281.359.351.00VVGD-51515.0018.003.001.56and104.00107.003.000.98and135.00139.004.000.75and147.00152.005.000.98and159.00174.0015.000.53and179.80198.7018.900.86VVGD-516369.00374.005.001.11and379.00383.004.000.78and397.00401.004.000.68and414.00424.0010.001.19and460.00471.0011.001.12and486.00491.005.000.60VVGD-519138.00141.003.000.96and233.00239.506.502.48and261.70273.4011.702.52and283.00288.565.560.87and303.60307.003.401.10and315.00321.006.002.30and325.00328.453.451.51and333.20337.404.201.56VVGD-527167.00180.0013.001.16and186.20198.0011.800.73and230.00238.008.002.09and259.00270.0011.001.30and275.00279.004.001.53and288.00291.203.200.60and295.00299.004.000.55VVGD-532249.00255.006.000.74and287.30298.5011.202.44and302.00317.0015.001.40and321.80325.003.200.68and352.00356.304.301.01and379.00384.005.000.57and388.00394.006.001.17and403.00410.007.001.57and432.00444.0012.000.98VVGD-5400.005.505.500.96and123.92133.209.282.05VVGD-549123.00139.0016.000.62and187.00190.003.001.07VVGD-554280.00284.204.200.86and346.00364.5018.501.01and375.75385.009.253.81and405.35409.003.650.59and412.50420.007.501.60VVGD-558NSR VVGD-5597.0014.907.900.64and36.0044.008.000.88and151.00154.003.000.56and156.00159.003.000.57and188.00220.0032.001.20and231.10238.006.901.59and247.00253.006.000.81and313.00316.003.000.55and323.60328.004.400.85VVGD-565207.00209.322.321.83VVGD-56622.0030.008.001.15and35.4548.7513.300.61and53.0055.252.254.75and103.55109.175.621.40and265.70270.004.301.42South Block TargetHole #From (m)To (m)Width (m)Au g/tVVGD-42282.0092.0010.001.04and150.90157.006.103.47VVGD-465117.70123.305.601.76and218.00222.654.656.13Quality Assurance and Quality ControlThe scientific and technical information in this press release has been reviewed and approved by David Gower, P. Geo., an advisor to Belo Sun and a Qualified Person as defined by National Instrument 43-101. The exploration program is directly supervised by Mr. Carlos Cravo, P. Geo., Belo Sun's exploration manager. Belo Sun's procedures for handling drill core comprise initial description and logging into a Microsoft Access database. Mineralized, suspected mineralized or not intervals in the drill holes are described in detail and marked for sampling. Core is then cut in half with the right-hand portion of the core put into plastic sample bags and sealed. The left-hand portion is returned to the core box and is stored for future reference or study. Assay standard and "Blank" samples are inserted every 20th sample. These samples are then delivered to ACME Labs sample preparation facility at the Project site. The assay samples are then fine-crushed to better than 80% passing 10 mesh screens, with an assay pulp split of up to 1,000 grams pulverized to better than 85% passing 200 mesh screen. Samples are assayed at ACME Labs in Santiago, Chile, using a 50 gram fire assay with AAS finish. These QA/QC procedures provide several measures of data quality and assure the company that the assay data is representative of the original sample.About the CompanyBelo Sun Mining Corp. is a Canadian-based mineral exploration company with a portfolio of properties focused on gold in Brazil. Belo Sun's primary focus is on advancing and expanding its 100% owned Volta Grande Gold Project, located in Para State. Belo Sun trades on the TSX under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com.Cautionary Statement on Forward-Looking InformationThis press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the impact of drill results on the Company and its understanding of the project; statements with respect to the development potential and timetable of the project; the estimation of mineral resources; realization of mineral resource estimates; the timing and amount of estimated future exploration; costs of future activities; capital and operating expenditures; success of exploration activities; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.To view the maps associated with this release, please visit the following link: http://media3.marketwire.com/docs/BeloSunfigures.pdf.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Belo Sun Mining Corp.Mark EatonPresident and CEO(416) 309-2137www.belosun.com