Belo Sun Receives Interim Suspension Order Related to the Construction Licence FOR the Volta Grande Project
BELO SUN RECEIVES INTERIM SUSPENSION ORDER RELATED TO THE
CONSTRUCTION LICENCE FOR THE VOLTA GRANDE PROJECT
Toronto, Ontario
April 12, 2017
Belo Sun Mining Corp. (“Belo Sun” or the “Company”) (TSX: BSX) has received an interim suspension
order issued by a judge from the Brazilian Federal Regional Court (the “Court”) related to the
Construction Licence (“LI”) for the Volta Grande Project. According to the order, the LI is to be
suspended until the indigenous study has been approved by Funai (Indigenous Affairs Agency of Brazil).
Belo Sun completed indigenous studies on the two closest indigenous lands , located 12 and 16
kilometres away from the Volta Grande Project, which was accepted by SEMAS (“Secretary of State for
Environment and Sustainability”). According to Brazilian regulations, indigenous studies are required if
the indigenous lands are located less than 10 kilometres from the project , however Belo Sun completed
an indigenous study in accordance with best practices related to indigenous affairs.
The interim decision by the Court was granted without hearing arguments from the State of Para or
from Belo Sun. The Company believes that following a review of the previously completed indigenous
study, the Court will reconsider their position.
Peter Tagliamonte, President and CEO, commented, “We are disappointed by this second interruption
to our construction plans, however these hurdles are expected and we will work throug h them. We are
working with our local Brazilian counsel to have the decision of the Court overturned on appeal. We are
working diligently on the appropriate steps to reverse both decisions.”
About Belo Sun Mining
Belo Sun Mining Corp. is a Canadian -based mining company with a portfolio of gold -focused properties
in Brazil. The Company is currently focused on the development of its 100% -owned flagship Vo lta
Grande project. Belo Sun trades on the T oronto Stock Excha nge under the symbol “BSX”. 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 meaning of applicable Canadian
securities legislation. Forward looking information includes , without limitation, statements regarding
the next steps for the property, the Court ordered in terim suspension order , the possibility of success
appealing the Court order, the timetable for development, production forecast, infrastructure
projections, progress in development of mineral properties and the future financial or operating
performance of the Company . Generally, f orward looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "b elieves", or
variations of such words and phrases or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". The Company has based its production
forecasts on the results of the feasibility study (please see the related technical report available on
www.sedar.com or the Company’s website for details on the underlying assumpt ions and parameters.
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, but
not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual
results of current exploration activities; other risks of the mining industr y and the risks described in the
annual information form of the Company. 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 b e 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.