Ms. Nancy Zweng of the Toquepala Fund reports

BELLHAVEN COPPER & GOLD INC. - EARLY WARNING NEWS RELEASE

The Toquepala Fund LP filed today an early warning report dated May 10, 2016, advising of its holdings in Bellhaven Copper & Gold Inc. The fund has acquired beneficial ownership and control of a $350,000 (U.S.) ($472,500 (Canadian)) convertible loan, convertible in the first year into units at 7.5 cents and thereafter at 10 cents, which convertible loan was acquired by way of a private placement. Each unit is composed of one common share of Bellhaven and one warrant, exercisable at 7.5 cents for a term of five years. These securities represent 40.79 per cent of the issued and outstanding common shares of Bellhaven, assuming conversion of the convertible loan in the first year and exercise of the loan warrants held by the fund.

The fund now directly has ownership and control over an aggregate of 2,283,750 common shares and 2,283,750 warrants and the convertible loan, representing 51.75 per cent of the issued and outstanding common shares of Bellhaven, assuming the conversion of the convertible loan and the exercise of the previous warrants and the loan warrants. The securities were acquired for investment purposes, and the fund may acquire further securities of Bellhaven in the future.

The securities were issued under an exemption from the prospectus requirements set out in Section 2.3 of NI 45-106.

A copy of the report filed in accordance with applicable securities legislation may be obtained by contacting Marion McGrath at 604-684-6264.