Belo Sun Provides Update on Volta Grande Gold Project
Belo Sun Provides Update on Volta Grande Gold Project
TORONTO, April 30, 2026 -- Belo Sun Mining Corp. (“ Belo Sun ” or “Company”) (TSX: BSX, OTCQB: BSXGF) today
announces an update on recent developments relating to its Volta Grande Gold Project (“ Project”) located in Pará State,
Brazil. The Company is pleased to report on the reissue of the Installation License (“LI”) for the Project.
Following the court-approved reinstatement of the Project’s Installation License in February 2026, the State Secretariat for
Environment, Climate and Sustainability of Pará (“ SEMAS”) has reissued the LI for the Project. The new LI (3698/2026)
replaces the prior LI (2712/2017) and is valid until April 2029. The reissued LI maintains the same project scope, studies, and
layout, and allows the Company to advance the Project.
As anticipated, the reissued LI includes updated conditions in line with current regulatory requirements. The Company has
been engaged in ongoing and constructive dialogue with SEMAS to clarify the technical work that needs to be completed to
satisfy the conditions. Belo Sun expects to publish a comprehensive project update by the end of the second quarter of 2026,
outlining the next phase of work as the Project advances toward construction. The update is expected to include the
anticipated timeline and key milestones for the updated Definitive Feasibility Study for the Project (“ DFS”), which will reflect
current market conditions, metal prices and the latest project planning work, together with the technical work required under
the reissued LI and progress on the Company’s social and community development programs.
Clovis Torres, Chief Executive Officer of Belo Sun, commented: “The reissued Installation License is an important step
forward for the Project and provides greater clarity on the permitting framework. We are encouraged by SEMAS’s constructive
and collaborative approach following the reinstatement of the LI, and by the ongoing dialogue as we work together to advance
the Project to maximize its benefits for all stakeholders. Our focus remains advancing the Project responsibly while supporting
employment, training and economic opportunities for local communities.”
About the Company
Belo Sun Mining Corp. is a mineral exploration and development company with gold-focused properties in Brazil. Belo Sun’s
primary focus is advancing and expanding its 100% owned Volta Grande Gold Project in Pará State, Brazil. Belo Sun trades
on the TSX under the symbol “BSX” and on the OTCQB under the symbol “BSXGF.” For more information about Belo Sun,
please visit www.belosun.com.
For inquiries, please contact Belo Sun Mining Corp, +1 888-516-4171 or [email protected].
Caution regarding forward-looking information:
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation, statements regarding the continued effectiveness of the reissued
Installation License (LI No. 3698/2026) and the Company’s ability to satisfy the conditions thereunder; the Company’s ongoing
dialogue with SEMAS regarding the conditions of the reissued LI and the technical work required to satisfy such conditions;
the timing and content of the comprehensive project update expected to be published by the end of the second quarter of
2026; the timing and outcome of the updated DFS; the timing, scope and progress of the Company’s social and community
development programs; expectations regarding the commencement and timing of construction activities; the expected
economic benefits of the Project; and the future operation and development of the Volta Grande Project. 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 those expressed or implied by such
forward-looking information, including, without limitation, risks that the LI may be challenged, modified, suspended or revoked;
risks relating to the Company’s ability to satisfy the conditions of the LI, including the timing and outcome of updated
technical assessments and SEMAS’s review thereof; risks relating to legal or regulatory proceedings affecting the Project;
risks relating to Indigenous and community consultation; risks relating to the timing, scope, cost and outcome of the updated
DFS and the assumptions underlying it (including with respect to gold prices, capital and operating cost estimates and
metallurgical recoveries); risks relating to the Company’s ability to recruit, train and retain qualified personnel, including local
workforce; risks relating to the Company’s ability to obtain financing on acceptable terms, or at all, to advance the Project;
risks relating to gold price volatility, foreign exchange rates and inflation; risks relating to community relations and security in
the region; risks relating to changes in applicable laws, regulations or government policies in Brazil; risks inherent in the
mining and mineral exploration and development industry generally and risks described in the public disclosure of the
Company which is available under the profile of the Company on SEDAR+ at www.sedarplus.ca 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.