Belo Sun Increases Measured and Indicated Resources of Gold at Its Volta Grande Gold Project, Brazil

Belo Sun Mining Corp. (BSX.TO) has completed an updated, independently audited mineral resource statement for its 100% owned Volta Grande gold project in Para State, Brazil. This updated mineral resource statement includes results from 273 additional drill holes (covering 75,482 metres), for which the results were received prior to October 30, 2012. These drill holes were completed subsequent to the mineral resource statement announced in April 2012.

The results represent an important upgrade of Belo Sun's estimated mineral resources for the Volta Grande Project, says the company.

- Measured and Indicated Pit Constrained Mineral Resources of 4.1 Million Ounces of gold at an average grade of 1.73 g/t Au, which represents an increase of 44% in these resource categories (from 2.8 Million Ounces) and further improvement in average gold grade for these categories (from 1.69 g/t Au).

- Inferred Pit Constrained Mineral Resources of 2.6 Million Ounces of gold at an average grade of 1.89 g/t Au, which represents a 16% increase in the estimated inferred resources (from 2.2 Million Ounces at 1.75 g/t Au).

- Underground resources of 21,000 ounces of gold at an average grade of 3.26 g/t Au in the Indicated category and 229,000 ounces at an average grade of 3.37 g/t Au in the Inferred category.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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