Bellhaven Signs Definitive US$4.0 Million/5 Yr. JV Agreement with Western Troy Capital Resources for 70% Stake in Its Viento Frio Concession.PANAMA CITY Panama City, city (1990 pop. 34,378), seat of Bay co., NW Fla., on St. Andrews Bay; inc. 1909. A Gulf Coast resort with amusement parks and excellent fishing, it is also a port of entry. The city's industries produce paper, clothing, and chemicals. , Panama -- Bellhaven Copper and Gold Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension 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 Bellhaven, through its 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. Aurum Exploration, Inc., has signed an Exploration and Development Agreement with Western Troy Capital Resources Inc. (Western Troy) (TSX VENTURE:WRY). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the terms of the agreement, Western Troy will have the option to earn up to 70% interest in the Viento Frio Mineral Exploration Concession located in the Colon Province of Panama, by spending up to US$3.5 million in exploration, making payments of up to US$500,000 in cash and stock, and granting up to 250,000 warrants. Bellhaven will be the operator of the exploration program. Julio Benedetti, 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. of Bellhaven, has this to say: "We are very pleased at the terms of this joint venture and at the additional value that the agreement brings to an already strong portfolio. Viento Frio is one of a number of properties that we are working diligently to bring online in the near future. We will continue to operate with all diligence and speed as we jointly seek to uncover the strong potential at Viento Frio. We are confident that Western Troy will make an excellent ally in this endeavour." The following table outlines the details of the transaction: [TABLE OMITTED] The number of shares to be issued for each stage will be based upon the market price of the shares of Western Troy at the time of issuance. The exercise price of the warrants will be the market price of the shares of Western Troy at the time of issuance and can be exercised for a period of two (2) years from the date of issuance. The securities issued will be subject to a hold period of four (4) months and one day. The transaction is subject to regulatory approval. Bellhaven Copper and Gold Inc. is a Panama-based mineral exploration company with a portfolio of gold and copper properties in the Republic of Panama. The company has issued 20,793,151 shares and has no debt. For more information, please visit the web site at www.bellhavencg.com or call Miguel Villahermosa at toll free 1-866-599-5930. On behalf of the board of directors, Julio C. Benedetti, President, CEO BELLHAVEN COPPER AND 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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