Bellhaven hits strong copper in Panama (July 31, 2007)

Vancouver – Strong copper grades in its initial drill hole at Cerro Chorcha in Panama gave junior explorer Bellhaven Copper & Gold (BHV-V) a significant share price boost.

Bellhaven acquired the Cerro Chorcha property in September 2006. After completing a trenching program and camp construction, the company started in on a 3,300-metre phase one drill program to test the copper-gold-silver mineralization associated with the structurally controlled quartz-magnetite stockwork within and to the west of the main porphyry copper deposit.

Three holes have been completed. Results from two of the holes are still pending but Bellhaven stock moved up 19% to $1.19 in July 31 trading on the results from hole 1, which encountered the thickest, highest-grade mineralization found on the property to date.

Over its entire 239.4-metre length from surface, the hole returned 1.2% copper, 0.23 gram gold per tonne, and 6.1 grams silver per tonne. The top 114 metres of the hole hit 2.01% copper, 0.43 gram gold, and 11.3 grams silver.

Hole 1 is located 50 metres east of an historic diamond drill hole that intersected 309.1 metres of 0.78% copper and 0.07 gram gold, part of a 26-hole program by Arlo Resources in 1994 to 1995.

The Cerro Chorcha deposit has been traced 1 kilometre along strike with the mineralized zone at least 500 metres wide.

The 242-sq. km Cerro Chorcha concession block sits in western Panama, in the headwaters of the Guariviara River. Discovered by ASARCO in 1969, the site had seen 35 diamond drill holes before Bellhaven last year bought 100% of Cuprum Resources, holder of the Cerro Chorcha concession block.

In March Bellhaven signed an agreement with Empire Minerals (EMPL-O) whereby Empire will pay Bellhaven cash and stock worth US$6 million as well as a US$15 million spending commitment over three years in exchange for a 65% interest in Cuprum and therefore in the property.

The project contains an inferred NI43-101-compliant resource of 135 million tonnes grading 0.48% copper and 0.06 gram gold. Bellhavens drill program includes infill holes to upgrade the estimate from inferred to indicated, as well as step-out holes to test for expansion as the deposit remains open to the north, southwest, and at depth.

Bellhaven, which started trading in January 2005, holds several exploration projects in Panama. The Rio Liri project hosts Cerro Pelado, or bald hill, where strong silicification and sulphide mineralization have weathered to give a rocky, acidic soil in which few plants grow. The bald hill attracted mineral exploration, and the site now hosts a NI43-101 compliant inferred resource estimate of 1.7 million tonnes grading 1.35 grams gold. When the phase one drill program at Cerro Chorcha is complete Bellhaven plans to move the drill to Rio Liri to start exploration there.

Bellhaven also holds a land package on the Azuero Penninsula of Panama. A two-year exploration program generated three drilling targets, and Bellhaven encountered gold mineralization in trenches over one target the Bejucosa prospect this summer.

The companys four prospects in the Veraguas Gold Belt cover over 150 sq. km. And in central Panama Bellhaven holds the Viento Frio project, which is proceeding as a joint venture with Western Troy Capital (WRY-V).