Mr. Clovis Torres reports

BELO SUN RECEIVES DECISION ON TEMPORARY SUSPENSION OF LICENSE UNTIL RESULT OF SETTLEMENT HEARING

Belo Sun Mining Corp. has been informed that the Brazilian supreme court (STF) has issued a decision on the request for suspension of provisional relief (suspensao de tutela provisoria) filed by Brazil's Federal Public Prosecutor's Office (MPF) concerning the installation licence (LI) for the company's Volta Grande gold project in Para, Brazil. The STF partially granted the MPF's request, temporarily suspending the court ruling that had reinstated the effectiveness of the project's LI. Clovis Torres, chief executive officer of Belo Sun, commented: "The STF's recognition of the relevance of the settlement hearing established by the TRF-1 is welcomed. We are advanced in our discussions with FUNAI with the settlement agreement submitted to TRF-1 and are confident that the parties will reach an agreement in the best interests of all stakeholders."

The STF decision provides that the LI will remain suspended until the agreement reached between Belo Sun and Brazil's National Foundation of Indigenous Peoples (FUNAI) during the conciliation proceedings receives judicial approval from Brazil's federal regional court of the 1st region (TRF-1). The agreement has already been submitted to the TRF-1 for approval, which remains pending.

The company notes that, notwithstanding the pending judicial approval of the agreement, the parties have already been complying with their respective obligations under the agreement, including Belo Sun's commitment to refrain from carrying out any physical interventions at the project site. Belo Sun remains committed to the conciliation process and will continue its discussions with FUNAI and the indigenous communities.

About Belo Sun Mining Corp.

Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The company is currently focused on the development of the Volta Grande gold project.

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