BHV

Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is
pleased to provide an update on its 6-month work plan and key objectives for
2013 regarding the La Mina Project (Figure 1). The Company has an aggressive
plan to drill its top-tier targets at La Garrucha and Cristalina. After
increasing the inferred mineral resources at La Mina by 60% in 2012, the Company
intends to continue the growth by returning to the La Garrucha discovery (See
Company news release dated February 29, 2012) and thereafter drilling the first
holes at the Cristalina target (Figures 2 and 3). 


The La Garrucha porphyry gold-copper target is approximately 700m east of
Bellhaven's 100% controlled La Cantera deposit (approx. 1M oz of gold in
inferred resources - see resource details below). The next phase of drilling at
La Garrucha includes 6 holes totaling approximately 2,000 metres, to commence
during the first quarter of 2013. The Company has already secured surface access
and drilling permits for the initial 2013 drill program at La Garrucha. 


The untested Cristalina gold-copper target is approximately 600m south of La
Cantera. Although data are still being compiled, the Company plans approximately
2,800m of drilling during the first half of the year. Access to the Cristalina
anomaly is excellent and Bellhaven also has the necessary permits in to drill in
this area. 


For maps showing the location of these target areas, plus relevant geophysical,
geological, and soil geochemical information, please use the following link:
http://file.marketwire.com/release/BHV_847356_Figures.pdf.


Patrick Highsmith, Bellhaven's CEO, commented on the plan for 2013:

"Bellhaven intends to grow the La Mina resources to more than 3.0 million ounces
of gold. The new discoveries at La Cantera and Middle Zone yielded discovery
costs of less than $5.00 per ounce, so our focus in early 2013 is on the new
discovery at La Garrucha and an exciting new target at Cristalina. The last
round of drilling at La Garrucha ended with +1.0 g/t gold in the bottom of hole
LME-1047, so the drill is moving there this month to follow up that result.
Garrucha is a known porphyry gold-copper system that appears to be the heart of
the La Mina district as we currently understand it. We look forward to realizing
the potential of the entire La Mina Project; and our steady work and strong
focus will be conducive to regular news flow in 2013."


Expected News Flow

Bellhaven has plans for an active quarter, including: drilling, interpretation
of geochemical and geophysical data, negotiations on new mineral concessions and
surface properties, environmental studies, and metallurgical test work. The
following is a summary of the news flow expected from the Company during the
next few months:




--  Results from current 2,000+ metre drill program at La Garrucha
    (throughout Q1 2013) 
--  ZTEM airborne survey results (February and March 2013) 
--  Results from pending 2,800 metre drill program at Cristalina (Q2 2013) 
--  Acquisitions of additional surface and mineral rights at La Mina
    (expected in Q1 2013) 
--  Update regarding Bellhaven's projects in Panama (Q1 2013) 
--  Environmental scoping study report on La Mina (February 2013) 
--  Update on metallurgical test work on La Mina (March 2013)



Discussion of Drill Plan for First Half of 2013

As reported in 2012, the La Cantera and Middle Zone deposits remain open at
depth, but the near-term goal is to add near-surface resources from the porphyry
cluster that occupies the eastern third of the La Mina concession. The porphyry
at La Garrucha is one of the strongest magnetic anomalies in the district, and
last year's drilling showed the system to be rich in gold, with relatively high
silver and molybdenum as compared with the La Cantera and Middle Zone deposits.
In February 2012, Bellhaven announced the results from 6 drill holes totaling
2,374 metres from the northwest end of the system. The best intercept reported
in 2012 was 64m averaging 0.8 g/t gold equivalent, but that hole bottomed in 25m
of 0.95 g/t gold equivalent. In fact, gold, copper, and silver were all
increasing towards the bottom of that hole. Two other holes in that program also
yielded significant intercepts that extended to the bottom of the holes (Figure
4).  


The core of the La Garrucha magnetic anomaly is more than 800m long by 400m
wide, extending well beyond current magnetic survey coverage. The anomaly is
elongate in a NW-SE direction and extends beyond the La Mina concession to the
southeast. The 2013 drilling will offset the previous drilling to the south,
stepping southward on nominal 50m spacing between holes (Figure 5). Recent
mapping and sampling have identified a series of faults that appear to tie the
La Garrucha porphyry to the other known porphyries at La Cantera and Middle
Zone. The Company is encouraged by the new interpretation of the airborne
magnetic survey indicating a possible connection between La Cantera and La
Garrucha at depth, with the overall intensity of the magnetics feature
strengthening to the east. These larger systems also appear to align on a major
east-west trend that the Company is prospecting as it cuts across the district
for at least 5 kilometres. 


Cristalina is another high-priority target. It is comprised of a magnetic high
flanked by one of the strongest geochemical base-metal anomalies in the
district. The magnetic anomaly alone was a secondary target, but coupling the
geophysical and geochemical indicators yields a much higher potential prospect.
Company geologists believe that the anomaly may represent a buried porphyry
deposit covered by volcanic rocks. Since intrusive rocks are not known to
outcrop in the area, the geochemical anomaly is particularly impressive in
scale. The zinc-arsenic-lead-antimony anomaly is at least 700m long by 300m
wide, larger than any other multi-element soil anomaly yet discovered on the
project (Figure 6). While the ultimate drill program will be contingent on
results, the first drill holes at Cristalina will test both the geochemical and
geophysical components of the target on drill fences spaced approximately 100m
apart. The anomaly is robust right up to the edge of the current sampling grid
in the northeast, suggesting that the anomaly extends further toward the La
Garrucha porphyry. Gold, and to a lesser extent, copper, are likely suppressed
in soil geochemistry because the porphyry does not come to surface. The recently
completed ZTEM survey (see Company news release dated December 13, 2012) is
expected to help refine the target for drilling. 


The Company will begin receiving data and interpretations from the ZTEM survey
during January. These data will provide a useful layer for targeting additional
drilling, particularly in areas where gold and copper mineralization does not
outcrop.


Laboratory Methodology and Quality Assurance 

All soil and rock samples summarized in this news release and shown in the
related figures were collected by Bellhaven personnel under the supervision of
senior staff and a qualified person, as defined by Canadian National Instrument
43-101. Bellhaven employees or contractors transported these samples to the
sample preparation laboratory in Medellin, ALS Colombia Ltda. The lab prepares
sample pulps for analysis according to industry standard methodologies and ships
the pulps to ALS Laboratories in Lima, Peru and La Serena, Chile. The
multi-element analyses are performed by either an aqua regia or four-acid
digestion and ICP-AES finish at the ALS Lima lab. The gold is determined by fire
assay of a 30-gram sample with an atomic-absorption finish in Lima or La Serena,
depending on laboratory workflow. 


The ALS Minerals laboratory in Lima, Peru is registered to ISO 9001:2008 and has
received ISO 17025:2005 accreditation for certain specific methods, such as fire
assay/AA gold. In addition to the internal QA-QC program used by these
accredited laboratories, Bellhaven also maintains an independent QA-QC program
that includes the use of certified standard reference materials, blanks, as well
as field and pulp duplicates. The quality control data associated with these
results falls within acceptable ranges for all relevant parameters. 


This news release has been prepared under the supervision of Mr. Thomas J.
Drown, P.Geo. Mr. Drown has more than 25 years relevant experience and is a
British Columbia Professional Geoscientist. He is a senior project geologist
with the Company at the La Mina Project and serves as the qualified person as
defined by National Instrument 43-101. 


About Bellhaven

Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX VENTURE:BHV) exploration
company exploring for gold and copper in Panama and Colombia. The Company's
objective is to be a leader in responsible gold and copper development in Panama
and Colombia. Bellhaven will focus on discovery, acquisition, and development of
high-quality resources in a safe and responsible manner for the benefit of all
of its stakeholders. 


The Company's flagship project is the La Mina porphyry gold-(copper) project in
the Middle Cauca belt of Colombia. In July 2012, the Company increased the
mineral resource inventory at the La Mina Project by 60% with the announcement
of an inferred resource at Middle Zone. The total La Mina resource now includes
1.6 Moz gold and 419 million pounds of copper (or 2.55 Moz gold equivalent)
contained in 79.87 million tonnes averaging 0.62 g/t Au, 0.24% Cu, or a gold
equivalent grade of 1.0 g/t (based on a 0.30 g/t Au cutoff grade). The Company
is currently seeking to grow these resources through ongoing exploration on the
La Mina concession. For more information regarding Bellhaven, please visit our
website at www.bellhavencg.com.


On behalf of the board of directors,

R. Patrick Highsmith, Chief Executive Officer

BELLHAVEN COPPER & GOLD INC. 

Statements in this press release, other than purely historical information,
including statements relating to the Company's future plans and objectives or
expected results, may include forward-looking statements. Forward-looking
statements are based on numerous assumptions and are subject to all of the risks
and uncertainties inherent in resource exploration and development. As a result,
actual results may vary materially from those described in the forward-looking
statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bellhaven Copper & Gold Inc.
Nico Wells
Corporate Communications
North America: +1-303-470-8700, ext 24


Contact in Panama:
Bellhaven Copper & Gold Inc.
Julio Benedetti
President/Director
Int'l No: +507-226-3967
www.bellhavencg.com

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