Mr. Patrick Highsmith reports

BELLHAVEN EXPANDS THE LA GARRUCHA DISCOVERY AT THE LA MINA PROJECT, COLOMBIA

Bellhaven Copper & Gold Inc. has released drill results from four recent holes at the La Mina project in Colombia. The two most recent holes test the western edges of the La Garrucha porphyry. Drill hole LME-1096 at La Garrucha returned an impressive run of consistent gold-copper mineralization for over half of its 350-metre length, including the following:

• 82.36 metres at 0.48 gram per tonne (g/t) gold (Au), 0.17 per cent copper (Cu), 0.76 g/t gold equivalent (AuEq) and 26.85 metres at 0.64 g/t Au, 0.13 per cent Cu, 0.85 g/t AuEq (to end of hole).

The current program adds much-needed information about the geology and grade distribution at La Garrucha, where a 2011/2012 drill program discovered a gold-copper porphyry deposit similar in style to that of La Cantera and Middle zone. These first holes at La Garrucha collar in an outer unit of marginally mineralized intrusive rock, but two of these holes bottom in plus one g/t Au mineralization. Bellhaven geologists believe this to be a strong indication that the east-directed drilling is just entering the core of a strong mineralizing system.

The two other holes in this news release probe the area between La Cantera and Middle zone resources (the LC-MZ gap), where magnetic and IP surveys suggest a possible magnetic intrusive at depth. One of these holes intercepts an intrusive similar to the units encountered at La Cantera, though gold and copper mineralization was relatively low. For maps showing the location of the drill holes, as well as relevant geologic cross-sections highlighting the gold-copper intercepts, please visit the company's website.

Patrick Highsmith, Bellhaven's chief executive officer, commented on the latest drilling: "We are very excited to announce results from two more drill holes in the newly discovered La Garrucha porphyry. Drill hole LME-1096 redefined the scale of the Garrucha target, intersecting 208 metres of continuous mineralization averaging 0.63 g/t Au equivalent without a cut-off grade. These holes are collared in the weakly mineralized halo around the system, but the mineralization strengthens to the east and with depth. The bottom portion of drill hole LME-1096 reaches into the core of a porphyry system having many similarities to the high-grade La Cantera deposit, which is only 700 metres to the west. Based on the geophysical anomaly, the mineralized porphyry surface showings, and encouraging results from early drilling, we see the potential for a significant gold-copper porphyry deposit at La Garrucha. We currently have one drill at La Garrucha, and we expect to move to the new Cristalina target in March."

The associated tables summarize the significant intercepts from the four drill holes.

     SIGNIFICANT NEW DRILL HOLE RESULTS FOR LA GARRUCHA TARGET

Drill         From       To  Intercept     Au     Cu     Ag   AuEq
hole           (m)      (m)        (m)  (g/t)    (%)  (g/t)  (g/t)

LME-1095    180.50   188.50       8.00  0.281   0.14    1.6   0.50
            248.20   280.11      31.91   0.47   0.09    1.8   0.61
LME-1096    150.00   161.54      11.54   0.20   0.16    7.1   0.45
            174.70   185.22      10.52   0.40   0.22    4.7   0.68
            199.64   282.00      82.36   0.48   0.17    3.3   0.76
            293.00   301.45       8.45   0.57   0.11    1.7   0.74
            322.96   349.81      26.85   0.64   0.13    1.9   0.85
including   339.00   349.81      10.81   1.10   0.20    3.4   1.40

Discussion of the drill hole results

The La Garrucha drill holes are positioned to confirm and expand upon the mineralization encountered in the six holes drilled in 2011-2012 (see news release dated Feb. 29, 2012). Significant intercepts from the previous program include LME-1047 with 64 metres at 0.55 g/t Au and 0.15 per cent Cu, and LME-1040 with 23.89 metres at 0.51 g/t Au and 0.19 per cent Cu. LME-1047 also bottomed in plus one g/t gold mineralization. All the holes drilled to date in the west Garrucha area terminate near the La Mina concession limit, without regard to geological breaks or mineralization.

Drill hole LME-1096 plunges directly eastward from a position roughly halfway between LME-1037 and LME-1047. The La Garrucha mineralized porphyry (mostly G2 breccia with some G2 porphyry) reaches its westernmost extent at this location. Levels of gold and copper mineralization are consistent over long intervals, with many of the below 0.4 g/t AuEq intervals approaching cut-off. A calculated average over the final 208 metres of LME-1096, ignoring grade cut-off, yields 0.63 g/t AuEq. This is an unparalleled mineralized intercept at La Garrucha, and compares favourably with the long runs of mineralization seen at La Cantera. The final assayed interval contains 2.2 g/t Au, 0.29 per cent Cu and 4.8 g/t Ag.

The dominant alteration over much of the G2 breccia alternates between propylitic and potassic. However, the lower reaches of the drill hole exhibit classic potassic alteration with secondary biotite and potassium feldspar, resembling the alteration seen in the core areas of the La Cantera deposit. Copper sulphides (chalcopyrite plus bornite) are noted over long intervals. The increasing intensity of alteration and mineralization at depth indicates that drilling is approaching the core of the mineral system. Quartz-sulphide veins, some exhibiting open-space textures, are interspersed through the mineralized intervals, but predominantly in the shallower portions. These veins usually bring highly anomalous arsenic (As), antimony (Sb) and silver (Ag), along with elevated Au and Cu. These veins are similar to those seen elsewhere in the La Mina district, but the Au and Cu contents are higher at Garrucha than typically seen (see news release dated Dec. 27, 2012).

Drill hole LME-1095 is collared approximately 100 metres south of LME-1037 and plunges N45E, terminating near the La Mina concession boundary. The edge of the mineralizing G2/G2 breccia appears to curve back to the east in this area, so this drill hole intersects a shorter mineralized interval. Grades are a slight improvement over the closest 2012 drill intercept (LME-1037 with 30.8 metres of 0.43 g/t Au and 0.06 per cent Cu, see news release Feb. 29, 2012). Again, the alteration and mineralization increase in intensity toward the bottom of the hole, and this hole also ends in strong mineralization (0.81 g/t AuEq).

    NEW DRILL HOLE RESULTS FOR LA CANTERA AND MIDDLE ZONE AREA 

             From       To  Intercept     Au     Cu     Ag   AuEq           
Drill hole    (m)      (m)        (m)  (g/t)    (%)  (g/t)  (g/t)    

LME-1093   133.50   138.37       4.87   0.37   0.26    1.9   0.78   
LME-1094                                No significant intercepts

Drill holes LME-1093 and LME-1094 probe the area between the La Cantera and Middle zone resources. Magnetic and IP data suggest the presence of a magnetic body at depth. LME-1093 was successful at intersecting a mineralized intrusive, though the reportable interval is relatively narrow. It does confirm the existence of mineralized intrusive between the two deposits, and may contribute a focus for future drilling in this area.

Laboratory methodology and quality assurance

After logging, cutting and sampling on-site at the La Mina camp, Bellhaven employees transport the core samples to the sample preparation laboratory in Medellin, ALS Colombia Ltda. The lab prepares sample pulps for analysis according to industry-standard methodologies and ships the pulps to ALS Laboratories in Lima, Peru, and La Serena, Chile. The copper, silver and multielement analyses are performed by a four-acid digestion and ICP-AES finish at the ALS Lima lab. The gold is determined by fire assay of a 30-gram sample with an atomic absorption finish in Lima or La Serena, depending on laboratory workflow. Check samples are sent separately by Bellhaven to the SGS Laboratory in Lima, Peru, where they are analyzed by the same methods as listed above for ALS.

The ALS Minerals laboratory in Lima, Peru, is registered to ISO 9001:2008 and has received ISO 17025:2005 accreditation for certain specific methods, such as fire assay/AA gold. The SGS laboratory in Lima, Peru, has also received accreditation to ISO/IEC 17025 for certain relevant methods. In addition to the internal QA/QC (quality assurance/quality control) program used by these accredited laboratories, Bellhaven also maintains an independent QA/QC program that includes the use of certified standard reference materials, blanks, as well as field and pulp duplicates. The quality control data associated with these results fall within acceptable ranges for all relevant parameters.

This news release has been prepared under the supervision of Thomas J. Drown, PGeo. Mr. Drown has more than 25 years relevant experience and is a British Columbia professional geoscientist. He is a senior project geologist with the company at the La Mina project and serves as the qualified person as defined by National Instrument 43-101.

We seek Safe Harbor.