Mr. Clovis Torres reports

BELO SUN MINING PROVIDES UPDATE ON PROCEEDINGS RELATED TO THE INSTALLATION LICENSE FOR THE VOLTA GRANDE GOLD PROJECT IN BRAZIL

Belo Sun Mining Corp.'s wholly owned Brazilian subsidiary, Belo Sun Mineracao Ltda., was formally notified on Sept. 11, 2026, of a request for suspension of provisional relief (suspensao de tutela provisoria, or STP) filed by Brazil's Federal Public Prosecutor's Office (MPF) before the Brazilian Supreme Court (STF), concerning the installation licence (LI) for the company's Volta Grande gold project in Para, Brazil.

The STP proceeding (STP 1.156/PA) seeks to immediately suspend the judicial decision issued by the Federal Regional Court of the 1st Region (TRF-1) on Feb. 13, 2026, in interlocutory appeal No. 1004658-74.2026.4.01.0000, which reinstated the LI and authorized the resumption of regular installation activities. The decision found that the company had demonstrated compliance with the applicable judicial requirements, including completion of an indigenous component study (ECI) based on primary data and consultation under the applicable protocol. The MPF also seeks the continuation of that suspension until a final and non-appealable judgment is rendered in the underlying civil public action concerning the ECI.

STF president Justice Edson Fachin issued an order dated Sept. 2, 2026, and directed Belo Sun Mineracao, the State of Para, the federal government, FUNAI (Fundacao Nacional dos Povos Indigenas) and the Municipality of Senador Jose Porfirio to respond within a common 72-hour deadline. The State of Para and Belo Sun have already filed their response, requesting that the STP be denied.

Clovis Torres, chief executive officer of Belo Sun, commented: "We remain confident in the strength and validity of our installation licence. The TRF-1 court reinstated the licence after confirming that we fully satisfied all judicial conditions, including completing the indigenous component study with primary data and carrying out transparent consultations. These are facts which have been previously acknowledged by FUNAI. A STP is an exceptional procedural remedy that requires a showing of a concrete risk of serious harm to public order, health, safety or the economy. As we continue working collaboratively through the conciliation process, we see no basis for such an emergency suspension and will vigorously defend the project and validity of the installation licence."

The STF is expected to rule on the interim request after receiving the responses from the parties and interested entities formally notified in the proceeding, followed by a submission from the Prosecutor General's Office.

The LI remains reinstated and in effect while the STF considers the submissions.

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. Belo Sun trades on the Toronto Stock Exchange under the symbol BSX and on the OTCQX under the symbol BSXGF.

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