BHV

Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is
pleased to report drill results from four recent holes at the La Mina Project in
Colombia (Figures 1 and 4). The two most recent holes test the western edges of
the La Garrucha porphyry. Drill hole LME-1096 at La Garrucha returned an
impressive run of consistent gold-copper mineralization for over half of its
350-meter length, including the following:




             82.36 meters @ 0.48 g/t Au, 0.17% Cu, 0.76 g/t AuEq            
                                     and                                    
    26.85 meters @ 0.64 g/t Au, 0.13% Cu, 0.85 g/t AuEq (to end of hole)    



The current program adds much needed information about the geology and grade
distribution at La Garrucha, where a 2011-2012 drill program discovered a
gold-copper porphyry deposit similar in style to that of La Cantera and Middle
Zone. These first holes at La Garrucha collar in an outer unit of marginally
mineralized intrusive rock, but two of these holes bottom in +1 g/t Au
mineralization. Bellhaven geologists believe this to be a strong indication that
the east-directed drilling is just entering the core of a strong mineralizing
system. 


The two other holes in this news release probe the area between La Cantera and
Middle Zone resources (the 'LC-MZ Gap'), where magnetic and IP surveys suggest a
possible magnetic intrusive at depth. One of these holes intercepts an intrusive
similar to the units encountered at La Cantera, though gold and copper
mineralization was relatively low. For maps showing the location of the drill
holes, as well as relevant geologic cross sections highlighting the gold-copper
intercepts, please use the following link:
http://file.marketwire.com/release/bhv228_Figs1-5.pdf


Patrick Highsmith, Bellhaven's CEO, commented on the latest drilling:

"We are very excited to announce results from two more drill holes in the newly
discovered La Garrucha porphyry. Drill hole LME-1096 redefined the scale of the
Garrucha target, intersecting 208m of continuous mineralization averaging 0.63
g/t Au equivalent without a cutoff grade. These holes are collared in the weakly
mineralized halo around the system, but the mineralization strengthens to the
east and with depth. The bottom portion of drill hole LME-1096 reaches into the
core of a porphyry system having many similarities to the high-grade La Cantera
deposit, which is only 700m to the west. Based on the geophysical anomaly, the
mineralized porphyry surface showings, and encouraging results from early
drilling, we see the potential for a significant gold-copper porphyry deposit at
La Garrucha. We currently have one drill at La Garrucha, and we expect to move
to the new Cristalina target in March." 


The tables below summarize the significant intercepts from the four drill holes. 

Table 1 - Significant New Drill-Hole Results for La Garrucha Target, La Mina
Gold-(Copper) Project, Colombia




----------------------------------------------------------------------------
Drill        From       To  Intercept     Au     Cu     Ag   AuEq           
Hole          (m)      (m)        (m)  (g/t)    (%)  (g/t)  (g/t)   Prospect
----------------------------------------------------------------------------
LME-                                                                      La
 1095(i)   180.50   188.50       8.00  0.281   0.14    1.6   0.50   Garrucha
----------------------------------------------------------------------------
           248.20   280.11      31.91   0.47   0.09    1.8   0.61           
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LME-                                                                      La
 1096(i)   150.00   161.54      11.54   0.20   0.16    7.1   0.45   Garrucha
----------------------------------------------------------------------------
           174.70   185.22      10.52   0.40   0.22    4.7   0.68           
----------------------------------------------------------------------------
           199.64   282.00      82.36   0.48   0.17    3.3   0.76           
----------------------------------------------------------------------------
           293.00   301.45       8.45   0.57   0.11    1.7   0.74           
----------------------------------------------------------------------------
           322.96   349.81      26.85   0.64   0.13    1.9   0.85           
----------------------------------------------------------------------------
including  339.00   349.81      10.81   1.10   0.20    3.4   1.40           
----------------------------------------------------------------------------
(i) Final reported intervals extend to end of hole.                         



NOTE: Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq (g/t) =
gold equivalent (g/t). AuEq (g/t) calculated assuming a long-term gold price of
US $1200/oz and a long-term copper price of US $2.75/lb. No adjustment has been
made for metallurgical recoveries or net-smelter returns as these remain
uncertain at this time. AuEq formula: AuEq g/t = Au g/t + ((Cu% x 22.0462 x
2.75)/(1200/31.1035)) g/t; Ag values are not included. Gold and copper grades
capped at 5 g/t Au and 2% Cu, respectively. Intercepts reported as down-hole
lengths and may not represent true thicknesses. 


Discussion of the Drill-Hole Results  

The La Garrucha drill holes are positioned to confirm and expand upon the
mineralization encountered in the six holes drilled in 2011-2012 (see news
release dated February 29, 2012). Significant intercepts from the previous
program include LME-1047 with 64 meters at 0.55 g/t Au and 0.15% Cu, and
LME-1040 with 23.89 meters at 0.51 g/t Au and 0.19% Cu. LME-1047 also bottomed
in +1.0 g/t gold mineralization. All the holes drilled to date in the west
Garrucha area terminate near the La Mina concession limit, without regard to
geological breaks or mineralization. 


Drill hole LME-1096 (Figure 2) plunges directly eastward from a position roughly
halfway between LME-1037 and LME-1047. The La Garrucha mineralized porphyry
(mostly G2 Breccia with some G2 Porphyry) reaches its westernmost extent at this
location. Levels of gold and copper mineralization are consistent over long
intervals, with many of the sub 0.4 g/t AuEQ intervals approaching cutoff. A
calculated average over the final 208 meters of LME-1096, ignoring grade cutoff,
yields 0.63 g/t AuEq. This is an unparalleled mineralized intercept at La
Garrucha, and compares favorably with the long runs of mineralization seen at La
Cantera. The final assayed interval contains 2.2 g/t Au, 0.29 % Cu, and 4.8 g/t
Ag. 


The dominant alteration over much of the G2 Breccia alternates between
propylitic and potassic. However, the lower reaches of the drill hole exhibit
classic potassic alteration with secondary biotite and potassium feldspar,
resembling the alteration seen in the core areas of the La Cantera Deposit.
Copper sulfides (chalcopyrite + bornite) are noted over long intervals. The
increasing intensity of alteration and mineralization at depth indicates that
drilling is approaching the core of the mineral system. Quartz-sulfide veins,
some exhibiting open space textures, are interspersed through the mineralized
intervals, but predominantly in the shallower portions. These veins usually
bring highly anomalous As, Sb, and Ag, along with elevated Au and Cu. These
veins are similar to those seen elsewhere in the La Mina district, but the Au
and Cu contents are higher at Garrucha than typically seen (see news release
dated December 27, 2012). 


Drill hole LME-1095 (Figure 3) is collared approximately 100 meters south of
LME-1037 and plunges N45E, terminating near the La Mina concession boundary. The
edge of the mineralizing G2/G2 Breccia appears to curve back to the east in this
area, so this drill hole intersects a shorter mineralized interval. Grades are a
slight improvement over the closest 2012 drill intercept (LME-1037 with 30.8
meters of 0.43 g/t Au and 0.06 % Cu, see news release February 29, 2012). Again,
the alteration and mineralization increase in intensity towards the bottom of
the hole, and this hole also ends in strong mineralization (0.81 g/t AuEq).


Table 2 - New Drill-Hole Results for La Cantera and Middle Zone Area, La Mina
Gold-(Copper) Project, Colombia




----------------------------------------------------------------------------
             From       To  Intercept     Au     Cu     Ag   AuEq           
Drill Hole    (m)      (m)        (m)  (g/t)    (%)  (g/t)  (g/t)   Prospect
----------------------------------------------------------------------------
LME-1093   133.50   138.37       4.87   0.37   0.26    1.9   0.78  LC-MZ Gap
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
LME-1094                 No significant intercepts                 LC-MZ Gap
----------------------------------------------------------------------------
NOTE: Intercepts calculated using a 0.40 g/t AuEq cut-off grade. AuEq (g/t) 
 = gold equivalent (g/t). AuEq (g/t) calculated assuming a long-term gold   
 price of US $1200/oz and a long-term copper price of US $2.75/lb. No       
 adjustment has been made for metallurgical recoveries or net-smelter       
 returns as these remain uncertain at this time. AuEq formula: AuEq g/t = Au
 g/t + ((Cu% x 22.0462 x 2.75)/(1200/31.1035)) g/t; Ag values are not       
 included. Gold and copper grades capped at 5 g/t Au and 2% Cu,             
 respectively. Intercepts reported as down-hole lengths and may not         
 represent true thicknesses.                                                



Drill holes LME-1093 and -1094 probe the area between the La Cantera and Middle
Zone resources (Figure 4). Magnetic and IP data suggest the presence of a
magnetic body at depth. LME-1093 was successful at intersecting a mineralized
intrusive (see Figure 5), though the reportable interval is relatively narrow.
It does confirm the existence of mineralized intrusive between the two deposits,
and may contribute a focus for future drilling in this area.


Table 3 - Drill Hole Location Data from this news release for La Mina
Gold-(Copper) Project, Colombia




----------------------------------------------------------------------------
Hole                      East UTM            North UTM            Elevation
Number                  Coordinate           Coordinate           (m.a.s.l.)
----------------------------------------------------------------------------
LME-1093                 418975.33            654680.07              1802.53
----------------------------------------------------------------------------
LME-1094                 419318.29            654805.12              1856.26
----------------------------------------------------------------------------
LME-1095                 419840.83            654507.20              1994.24
----------------------------------------------------------------------------
LME-1096                 419830.11            654667.56              2007.17
----------------------------------------------------------------------------

----------------------------------------------------------------------------
                                                     Total                  
Hole                 Azimuth         Plunge         Length                  
Number             (degrees)      (degrees)       (meters)          Prospect
----------------------------------------------------------------------------
LME-1093                 045            -51         400.81         LC-MZ Gap
----------------------------------------------------------------------------
LME-1094                 045            -65         341.07         LC-MZ Gap
----------------------------------------------------------------------------
LME-1095                 045            -51         280.11       La Garrucha
----------------------------------------------------------------------------
LME-1096                 090            -65         349.81       La Garrucha
----------------------------------------------------------------------------
m.a.s.l. = metres above sea level                                           



Laboratory Methodology and Quality Assurance 

After logging, cutting, and sampling on site at the La Mina camp, Bellhaven
employees transport the core 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 copper, silver and
multi-element analyses are performed by a 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. Check samples are sent separately by Bellhaven to the SGS Laboratory
in Lima, Peru, where they are analyzed by the same methods as listed above for
ALS. 


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. The SGS laboratory in Lima, Peru, has also received accreditation
to ISO/IEC 17025 for certain relevant methods. 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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