Belo Sun Announces Signing of Definitive Use of Land Agreement with Incra
BELO SUN ANNOUNCES SIGNING OF DEFINITIVE USE OF LAND
AGREEMENT WITH INCRA
Toronto, Ontario
December 7, 2021
Belo Sun Mining Corp. (“Belo Sun ” or the “ Company”) (TSX: BSX
OTCQX:BSXGF) is pleased to announce that it has successfully concluded
discussions with Instituto Nacional de Colonização e Reforma Agrária - National
Institute of Colonization and Agrarian Reform (“INCRA”) on the land overlap at its
Volta Grande Gold Project and has signed a definitive agreement for the use of
the land during the mining operations of the Volta Grande Gold Project.
Peter Tagliamonte, President, CEO and Director of Belo Sun commented, “We are
pleased to have successfull y concluded discussions with INCRA and we look
forward to a positive and ongoing relationship with INCRA that will bring benefits
to the surrounding communities, local farmers, landholders and municipality. We
feel that the Volta Grande Gold Project represents an outstanding opportunity that
will benefit the region and all stakeholders as we advance the project.”
Belo Sun and INCRA enter ed into a use of land concession agreement that
resolves a land overlap between a small portion of INCRA designated land and an
area of land covered by Belo Sun mining concessions that will be affected by the
mining operations of the Volta Grande Gold Project. Under the agreement, INCRA
will provide Belo Sun access to the INCRA designated land for mining activities for
20 years once the mining license for the Volta Grande Gold Project is granted with
the ability to exten d the term beyond the initial 20 years . Belo Sun will provide
ongoing program support during the operation of the mine including, among other
commitments, assistance to small local landholders with the proper registration of
their land, assisting the municipality with road and bridge maintenance, a transfer
of land outside the project area to INCRA and the purchase of certain equipment
to assist the local INCRA office in its activities. The agreement has been officially
published in the Brazil Federal Gazette - Diário Oficial da União (Official Gazette
of the Union).
Mr. Tagliamonte commented further, “The Belo Sun team in Brazil has done an
outstanding job over the last few months, working with the Indigenous
Communities to conclude the Indigenous Study, gai ning strong Governmental
support with the inclusion of the Volta Grande Gold Project into the Pro Minerals
program and most recently working co-operatively with INCRA to complete a use
of land agreement for the mining of the Volta Grande Gold Project”
About the Company
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 “BS XGF”. For more
information, please visit www.belosun.com or contact Investor Relations at +1
(416) 309-2137.
Caution regarding forward-looking information:
This press release contains "forward -looking information" within the mean ing of applicable
Canadian securities legislation. Forward -looking information includes, without limitation,
statements regarding the use of land agreement entered into between Belo Sun and INCRA and
the terms and commitments thereunder. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different from thos e expressed or
implied by such forward-looking information, including risks inherent in the mining industry and risks
described in the public disclosure of the Company which is available under the profile of the
Company on SEDAR at www.sedar.com and on the Company's website at www.belosun.com.
Although the Company has attempted to identify important factors that could cause actual results
to differ materially from those contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue reliance
on forward-looking information. The Company does not undertake to update any forward -looking
information, except in accordance with applicable securities laws.