Bellhaven Copper and Gold Inc. Signs Letter of Intent with Toronto Group for USD $4.0 Million Joint Venture.VANCOUVER, British Columbia -- Bellhaven Copper & Gold Inc. (TSX-Venture: BHV BHV Brussel-Halle-Vilvoorde (Flemish) BHV Bazar de l'Hôtel de Ville (French) BHV Bovine Herpesvirus BHV Bruxelles Halle Vilvorde (French) BHV Bead Hive ) ("Bellhaven" or the "Company") is pleased to announce that it has signed a letter of intent with a Toronto-based group ("TBG TBG abbr. thyroid-binding globulin TBG thyroxine-binding globulin. TBG Thyroxine-binding globulin, see there ") led by Beth Kirkwood to acquire a 70% interest in the Viento Frio property in Northeastern Panama. The terms of the LOI call for TBG to incur exploration expenditures up to US $3.5 million and make option payments of US $500,000 over a period of five years to earn a 70% interest in the property. Aurum, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Bellhaven Copper and Gold Inc., has submitted a concession application. A concession contract has been signed, and is currently following the regulatory granting procedure. The terms of the LOI call for a 120-day time period for the concession to be granted and for TBG to complete financing. Viento Frio is a multi-gold target property covering a 103-sq.-km area. Julio Benedetti, newly appointed President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , has this to say: "Viento Frio is the first of a cluster of properties that we will be bringing online in the very near future. I am pleased with the terms of this Letter of Intent." On behalf of the Board of Directors, Julio C. Benedetti, President and CEO BELLHAVEN COPPER & GOLD INC. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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