Bellhaven Ventures Seeks Shareholder Approval for Cerro Chorcha Acquisition.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 -- The management of Bellhaven Ventures 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 ) is pleased to recommend to its shareholders that the company proceed with the acquisition of Cuprum Resources Corporation ("Cuprum"), holder of the 242-square-kilometer Cerro Chorcha concession block located 40 km northwest of the Cerro Colorado porphyry copper deposit porphyry copper deposit A large body of igneous rock, having distinct crystals in a relatively fine-grained base, that contains chalcopyrite and other sulfide minerals. in western Panama. An information circular Information Circular A document sent to shareholders outlining important matters to be discussed at the annual shareholders' meeting. Notes: Sent along with a proxy, the information circular may cover matters such as the election of the Board of Directors, possible being mailed today asks shareholders to approve the exercise of a share purchase option to acquire 100% of the issued and outstanding shares of Cuprum in return for 3,212,000 shares of Bellhaven. Shareholders of Cuprum include certain insiders of Bellhaven. The Cerro Chorcha metallic mineral exploration concession was granted on April 4, 2006. A revised independent valuation was submitted on April 5, 2006, and a revised NI 43-101 report was completed on April 6, 2006. The acquisition remains subject to shareholder approval (vote scheduled for September 12) and acceptance by the appropriate regulatory agencies. Peter Folk, P. Eng., has calculated an inferred mineral resource (NI 43-101 compliant category) at Cerro Chorcha of 134,924,000 tonnes at an average grade of 0.48 % Cu and 0.059 g/t Au (using a 0.2% Cu cut-off grade) or 70,464,000 tonnes at an average grade of 0.68 % Cu and 0.095 g/t Au (using a 0.4% Cu cut-off grade). Bellhaven management considers these estimates to be both relevant and reliable. Carl Nelson, Bellhaven's 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. , says, "The Cerro Chorcha concession has been granted, the qualifying report is done, and an independent valuation has been received and accepted by 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. . Consequently, Bellhaven management is pleased to recommend this long-awaited, 1.4 billion-pound copper acquisition to our shareholders." Bellhaven Ventures Inc. is a Vancouver-based mineral exploration company with a portfolio of gold and copper properties in the Republic of Panama. The company has issued 17,931,151 shares and has no debt. For more information, please visit the website at www.bellhaven-ventures.com. On behalf of the board of directors, Carl Nelson, President, CEO BELLHAVEN VENTURES INC. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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