Mr. Julio Benedetti reports

BELLHAVEN ANNOUNCES NEW PRIVATE PLACEMENT

Bellhaven Copper & Gold Inc. will not be proceeding with the private placement as disclosed in its news release of Dec. 8, 2015. In its place, the company intends to proceed with a new non-brokered private placement of up to 40 million units at five cents per unit for gross proceeds of up to $2-million.

Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of seven cents per warrant share for a period of five years from the closing of the offering.

Finders' fees may be payable in connection with the completion of the offering in accordance with TSX Venture Exchange policies. Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.

All securities issued in connection with the offering will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. The proceeds from the offering will be used for general working capital purposes.