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Bellhaven Encounters High-Grade Gold-Copper at La Mina Project in Colombia

Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) has announced that its most recent drill hole (DDH-15) cut two intervals of porphyry and breccia containing gold and copper at La Cantera, the principal prospect of Bellhaven's 100%-controlled La Mina project in Colombia.

This hole was designed to test the down-dip extension of the relatively high-grade gold-copper intercept (146 m @ 0.93 g/t Au, 0.33% Cu, 1.51 g/t AuEq) contained in DDH-14 completed at the end of last year (see press release of December 13th). DDH-15 successfully intercepted a broad gold-copper zone located substantially below DDH-14, thereby establishing a minimum vertical dimension of over 500 m for this one gold-copper zone.

La Cantera is one of four known porphyry prospects at La Mina. The other three prospects include the Middle Zone, El Tanque, and El Limon, located approximately 0.5 and 1 km to the north, respectively. Most of the concession still remains unexplored. Bellhaven holds an option to earn 100% of the La Mina project (see press releases dated May 17, July 27, September 9, October 12, November 2 and 17, 2010).

Paul Zweng, Bellhaven's Interim CEO and Director, commented as follows:

"DDH-15 establishes a significant vertical dimension of half a kilometer (1780 masl to 1270 masl) for the La Cantera gold-(copper) prospect. Expanding the dimensions of the deposit is essential to adding potentially important tonnage to the project. To do this faster we are now seeking the services of a second drill rig for the project as soon as is practically possible. At this moment we are drilling DDH-16 at La Cantera and look forward to drilling the other prospects as well in the weeks ahead."

"Bellhaven will be presenting core samples and geologic data pertaining to La Mina at the Mineral Exploration Roundup 2011 Core Shack (Vancouver) on Wednesday, January 26th, from 10 am to 5 pm. I would like to invite all interested parties to stop by and visit with me at that time."

Discussion of the Drill-Hole Results

Bellhaven initiated its maiden drilling program at its La Mina project last summer (see press release dated July 27, 2010). Three holes collared at the La Cantera prospect were reported in the September 9th press release. The results of a fourth hole drilled at La Cantera were issued in a December 13th press release. The first four holes drilled at the second prospect, the Middle Zone, were highlighted in the October 12th, November 2nd and 17th press releases.

Drill-hole DDH-15 was designed to test the down-dip extension of the 146-m long intercept attained in DDH-14 late last year. Starting at a down-hole depth of 524 m, the hole cut 73 m of mineralized porphyry and breccia averaging 0.50 g/t Au and 0.25% Cu (0.92 g/t AuEq) based on a 0.40 AuEq cut-off grade. Twenty-nine meters further down hole, DDH-15 cut a second, narrower intercept containing 8.5 m of 0.48 g/t Au, 0.23% Cu (0.87 g/t AuEq). These two zones represent the downward extension of the 146-m zone cut in DDH-14 as shown in cross section (see the link on the first page of this press release to view the cross section containing DDH-06, -14, and -15). The vertical distance between the intercepts of the two holes is approximately 280 m. Together these holes establish a minimum vertical distance of over 500 m for this one gold-copper zone. The true width of the intercepts cut by DDH-15 is approximately 53% of the reported intercept length. All gold-copper zones remain open to depth. Currently Bellhaven is drilling DDH-16 to constrain the geometry (and grades) of the gold-copper zones at right angles to DDH-06, -14, and -15.

ALS Colombia Ltda. prepared the drill-core samples, producing the sample pulps in Bogota. Gold was analyzed by fire assay on a 50-gram sample with an atomic-absorption finish. Copper was analyzed using four-acid digestion, ICP-AES. The Company maintains a QA-QC program regarding the preparation, shipping, and checking of all samples, including the use of certified standard reference materials, blanks, as well as field- and pulp duplicates.

This news release has been prepared under the supervision of Mr. Thomas J. Drown, P.Geo., who serves as the qualified person as defined by National Instrument 43-101 responsible for ensuring that the geological information in this release is accurate.

La Mina (also known as Venecia) lies within the Middle Cauca belt of Miocene-age volcano-plutonic rocks in central Colombia known to host large porphyry gold deposits such as La Colosa (12.9 Moz Au contained in 468 Mt @ 0.86 g/t Au; AngloGold Ashanti), Titiribi (3.7 Moz Au contained in 230 Mt @ 0.5 g/t Au; Sunward Resources), Quebradona (AngloGold Ashanti – B2Gold), Quinchia (Batero Gold), and Yarumalito (Colombian Mines), as well as large epithermal gold districts such as Marmato (7.5 Moz Au contained in 245 Mt @ 0.95 g/t Au; Medoro Resources).

In mid 2006, AngloGold Ashanti and Bema Gold drilled six holes into the La Mina porphyry (now called the La Cantera prospect), with Holes 2 and 5 yielding 90+ m intercepts of greater than 1 g/t Au and significant copper at shallow depths.

The most important host rocks observed in drill core include the Combia Formation intermediate volcanic rocks as well as early, intra- and post-mineral diorite porphyry. Alteration is typical of gold porphyry deposits as exemplified by a potassic-calcic core encircled by sericitic, intermediate argillic, and propyllitic alteration zones. Specifically, most of the gold and copper discovered so far at La Cantera are spatially associated with quartz-magnetite-chalcopyrite ± bornite veinlets in potassic altered porphyry and breccias containing elevated quantities of hydrothermal magnetite. As a result, the gold-bearing rocks are highly magnetic (ca. 200x10-3 SI) which creates a sharp contrast with the barren and weakly magnetic intermediate argillically altered rocks as well as the non-magnetic sericitically altered rocks that surround the potassic core.

Three other potentially important targets occur due north of the La Cantera target: Middle Zone, El Limon, and El Tanque. These three areas form a 1.5 km long by 0.5 km wide magnetic anomaly containing elevated values of gold and copper in rock-chip and soil samples.


Bellhaven Copper & Gold Inc.

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