– July 17, 2009. Bellhaven Copper & Gold, Inc. (TSX-Venture: BHV) (the“Company”)
Further to its news releases of January 13, 2009 and April 1, 2009, the Company is pleased to announce that it
has acquired B2 Gold’s 60% interest in the Cerro Quema Gold property (“Cerro Quema”), located in the
Macaracas, Las Tablas and Tonosi districts of Los Santos, Province in the Republic of Panama, as a result of
which the Company now holds a 100% interest in Cerro Quema through the ownership of all of the shares of
Minera Cerro Quema S.A.
As consideration for the 60% interest in Cerro Quema the Company has paid US$200,000 and issued a noninterest
bearing promissory note (the “Note”) with a principal amount of US$1,950,000 due December 1, 2009,
such Note being secured by a pledge of the shares of Minera Cerro Quema S.A. purchased from B2 Gold. At
the option of B2 Gold the Note can otherwise be satisfied by the payment of US$950,000 and the assignment to
B2 Gold of a 5% carried interest in Cerro Quema.
The payments detailed herein are in addition to the US$4,000,000 previously paid by the Company pursuant to a
prior agreement to acquire the 60% interest in Cerro Quema, as more particularly detailed in a news release
dated November 1, 2007.