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Press release from Marketwire

Belo Sun Intersects New High Grade Zone at Grota Seca and Expands Grande Deposit

Monday, January 28, 2013

Belo Sun Intersects New High Grade Zone at Grota Seca and Expands Grande Deposit16:30 EST Monday, January 28, 2013TORONTO, ONTARIO--(Marketwire - Jan. 28, 2013) -Belo Sun Mining Corp. (TSX:BSX) reports assays for 86 additional drill holes (corresponding to 24,015 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 in early Q2 this year.Included in this release are the assay results from 47 additional drill holes from the Grota Seca deposit, 28 from the Ouro Verde deposit and 11 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-529 (Grota Seca Cross Section 1825W) intersected 12.07 meters grading 11.08 g/t Au (from 59.40 meters) including 4.85 meters grading 26.78 g/t Au (from 63.40 meters). This intercept represents a new high grade mineralized zone which is located parallel to the main "Central" zone. Hole VVGD-567 (Grota Seca Cross Section 2350W) intersected 13.34 meters grading 4.60 g/t Au (from 119.56 meters). Significant down dip intercepts at the Ouro Verde deposit such as in hole VVGD-628 at section 775 NW with 9.75 meters grading 2.80 g/t Au (from 338.95 meters) and 6.30 meters grading 4.46 g/t Au (from 379.00 meters). At the South Block, Grande Deposit the highlight is hole VVGD-633 with 9.02 meters grading 5.68 g/t Au (from 168.03 meters) and 4.52 meters grading 15.47 g/t Au (from 201.18 meters).Helio Diniz, Belo Sun's Vice President of Exploration, stated, "The recent drilling results at Volta Grande with the shallow high grade intercepts continue to demonstrate the potential for further expansion of the mineral resources and combined with the ongoing regional program to the South East of Volta Grande and at Belo Sun's Patrocinio property in the Tapajos indicate Belo Sun has the potential to expand on the success its exploration team has enjoyed in the past three years."At present Volta Grande has 4.1 million ounces of gold in the Measured and Indicated category grading 1.73 g/t and 2.8 million ounces of gold grading 1.96 g/t in the Inferred category (see press release dated December 18, 2012).Ian Pritchard, Chief Operating Officer of Belo Sun, said "The expansion of the Grande deposit, which was estimated to contain 123,900 ounces at a grade of 4.58 g/t in the inferred category (see press release dated June 11th, 2012), has led us to study it as a potential source of high grade feed in the early years of production at Volta Grande and metallurgical tests are currently ongoing."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.BSX NR - JANUARY 2013Grota Seca DepositHole #From (m)To (m)Width (m)Au g/tVVGD-5210.006.256.251.44and14.5521.006.453.53and139.21142.002.795.14and180.70192.1811.481.15VVGD-5220.005.275.270.96and14.2018.053.851.18and38.0040.552.553.64and92.00102.0010.000.53and147.00153.006.000.86and174.75185.0010.251.90and215.92222.006.081.17and283.00287.004.000.51and340.07342.772.703.93VVGD-525218.70224.005.300.66and234.80243.008.200.67and285.00300.0015.000.63and317.50326.008.500.62and333.00338.005.001.05VVGD-524110.00117.007.000.87and183.30187.304.006.13VVGD-528108.80111.002.206.57and129.00137.158.151.87VVGD-52944.0049.955.950.60and59.4071.4712.0711.08and85.7090.454.7512.09and94.85103.108.251.02and133.75138.404.652.68and145.00149.704.700.60and161.80164.602.803.25VVGD-536135.30142.056.752.22and282.55285.252.706.69VVGD-5370.006.956.950.96and36.8044.607.800.84and90.74101.2010.460.59and130.00133.003.000.66and142.00145.003.000.93VVGD-544134.20146.4212.220.97and167.25171.604.356.39and288.25294.336.080.71VVGD-54639.0044.405.400.89and51.7961.109.310.58and161.00169.008.001.20and225.90232.706.801.50VVGD-5470.004.654.650.56and100.00103.003.001.40and114.20120.005.800.53and164.00166.002.003.11and200.80205.004.200.96and221.00225.004.000.92VVGD-548 NSR VVGD-552108.00113.305.303.33VVGD-555134.55137.643.090.63VVGD-557150.18153.253.074.24and185.10191.706.600.97and215.80221.555.750.60and231.00237.176.170.76VVGD-56023.3536.4513.100.67and63.0067.404.401.35and85.0091.006.000.76and108.00110.002.003.91and251.00258.257.251.00and296.00303.007.002.06and308.00311.003.002.21VVGD-56469.0073.204.202.61and77.0088.0011.000.85VVGD-5670.0010.0010.000.77and106.00115.009.004.30and119.56132.9013.344.60and142.25147.004.750.52and241.70245.884.182.46VVGD-570100.20104.624.421.47VVGD-571 NSR VVGD-5722.0011.009.000.52and165.00175.7010.702.86and192.00200.788.787.75VVGD-57371.7574.753.000.64VVGD-574174.60179.304.701.08and184.00188.004.001.07VVGD-575 NSR VVGD-5780.0015.0015.000.62and92.7097.204.502.28VVGD-5790.003.003.000.55and62.4573.2010.750.64and107.00113.006.000.63and189.00197.008.000.76VVGD-580188.55192.203.651.05and254.00261.007.000.61and280.00288.658.651.45VVGD-58134.0037.003.001.06and48.7076.6027.901.12and100.68107.006.320.85and187.00190.203.202.70and208.00219.7011.701.11and236.60239.653.050.89and301.70307.255.551.38and319.00328.809.801.09VVGD-58286.5092.005.500.66and141.23148.006.771.02VVGD-584136.00141.855.851.78VVGD-587 NSR VVGD-58811.0014.603.601.44and28.7038.009.300.58and43.0049.006.002.66and83.6088.104.501.85and134.00140.706.700.78and156.20162.326.121.31and195.50203.407.901.29and256.00262.206.200.83and310.65320.009.352.98and324.30333.309.000.98VVGD-589132.00137.945.940.72and215.95220.004.051.04and296.00302.606.600.71VVGD-5930.003.453.451.29and9.7513.103.350.52VVGD-5940.003.003.000.73VVGD-596 NSR VVGD-59727.0530.803.750.88and56.0064.258.251.02and85.9089.803.900.68VVGD-600172.27176.073.801.16and198.70208.179.470.84and247.60260.0012.402.03and273.00281.008.000.74and298.75305.406.650.77VVGD-601198.00206.008.001.10VVGD-605267.45272.004.550.66VVGD-60677.6786.308.630.59VVGD-6086.449.923.480.58VVGD-611 NSR VVGD-612 NSR VVGD-617 NSR VVGD-62112.0019.007.000.91and35.0043.098.090.72and54.6061.006.404.13and154.00162.008.000.84and200.00209.009.000.70and218.00250.0032.001.69and255.00258.203.201.36and264.75275.0010.252.29and300.60306.005.404.10VVGD-625 NSR BSX NR - JANUARY 2013South Block TargetHole #From (m)To (m)Width (m)Au g/tVVGD-5915.009.004.000.95VVGD-592 NSR VVGD-59839.2542.002.755.79VVGD-604103.40106.483.080.61VVGD-609 NSR VVGD-613 NSR VVGD-622 NSR VVGD-624 NSR VVGD-627214.97219.124.152.34VVGD-63073.3075.302.0012.85VVGD-63364.0867.403.320.60and168.03177.059.025.68and181.65184.002.3517.40and201.18205.704.5215.47and216.00220.004.000.80BSX NR - JANUARY 2013Ouro Verde DepositHole #From (m)To (m)Width (m)Au g/tVVGD-46343.5047.053.550.57and152.00176.0024.001.43and194.00200.006.000.53and213.00219.006.000.65and228.00232.004.000.53and249.00267.0018.001.75and272.00283.0011.001.22and288.20304.0015.801.56and313.00320.007.000.61and430.00435.005.000.60VVGD-54176.9082.005.100.55and119.40122.152.754.08and131.20143.0011.801.40and190.00193.003.001.02VVGD-562189.00192.003.000.85and203.00217.0014.000.68VVGD-56818.0021.403.400.83and46.5051.004.501.48and55.0061.506.500.82and76.5078.401.903.47and178.00182.604.600.62and204.00213.099.091.15and222.70246.0323.330.94including237.00242.005.002.41and252.00261.009.000.65and301.50305.303.803.65VVGD-576377.00380.003.000.51and432.80444.0011.201.26and460.65467.006.351.16and504.15515.0010.850.91VVGD-5830.0016.3516.351.47and52.0564.2212.170.96and120.60131.3010.702.26VVGD-58524.3528.003.656.25and189.00194.005.000.69and231.00246.6015.602.05and259.45267.257.800.72and325.00328.003.001.40and336.80349.0012.201.32VVGD-58666.3273.206.880.54and155.00159.004.001.47and171.00174.003.002.17and203.00210.407.400.75and222.00228.006.001.37and237.00252.0015.000.98and294.00297.403.401.49and308.00312.004.000.56and326.00336.0010.001.86VVGD-590149.00154.005.000.72and276.17280.604.430.76and288.43291.763.331.10and316.15319.553.400.76and346.55349.753.205.44and353.75360.336.581.01and402.00410.458.450.70and426.80439.0912.291.03VVGD-59561.3865.404.023.36and163.64173.259.611.49and177.55186.008.451.16and195.50198.603.102.43and252.70259.006.300.72and266.30269.002.705.52VVGD-5990.0010.0010.001.19and33.0037.004.002.10VVGD-602 NSR VVGD-603 NSR VVGD-607 NSR VVGD-61025.8028.823.021.19VVGD-614 NSR VVGD-615 NSR VVGD-61640.0044.254.250.68VVGD-61857.8661.003.140.52VVGD-619 NSR VVGD-620 NSR VVGD-62379.0082.003.000.84and258.00262.004.005.13and309.50314.004.501.23and325.00330.105.102.77and337.00347.0010.001.40and351.67358.707.031.99and493.75505.8512.101.02and518.34523.004.660.76and540.40545.004.601.28and574.15576.852.7012.92VVGD-626 NSR VVGD-628241.70245.804.100.84and251.00253.602.603.52and319.00326.007.000.86and330.00335.005.000.89and338.95348.709.752.80and352.62358.505.880.81and365.00374.609.601.57and379.00385.306.304.46and398.00401.003.001.17and464.00472.008.001.21and476.25497.0020.750.52and519.50534.0014.501.36VVGD-62981.0588.687.630.60and120.00124.004.000.97VVGD-631 NSR VVGD-63246.3849.913.531.93and248.65251.653.000.57VVGD-634228.00232.004.001.96Quality 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 Volta Grande 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 figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Bel_Sun-Figures.pdf. FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: Belo Sun Mining Corp.Mark EatonPresident and CEO(416) 309-2137www.belosun.com