BHV

Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company") is
pleased to announce significant cost-saving initiatives to strengthen the
Company's financial position. These initiatives will optimize the Company's
financial resources by allowing Bellhaven to spend more on exploration at its La
Garrucha gold-(copper) project and less on corporate overhead. Bellhaven now
ranks towards the bottom with respect to compensation and fees paid to
management/board of directors based on an internal survey of Canadian junior
exploration companies operating in Colombia.


The new cost-savings initiatives include:



--  Closing of the Denver, Colorado office (Bellhaven's only corporate
    office is in Panama City and operations in Colombia are run from our
    field offices at La Mina and Fredonia); 
--  Termination of the VP Exploration position (these responsibilities will
    be assumed by the Company's special advisor as well as the geologic
    staff at La Mina project, Colombia);  
--  Salary reductions of 20-25% paid to key personnel such as the
    COO/President and La Mina Project Geologist (Bellhaven's CEO is already
    one of the lowest paid CEOs); 
--  Termination of two geologists from the staff at La Mina project,
    Colombia; 
--  Fee reductions of 25% paid to independent directors (management serving
    on the board of directors receive no fees), and 
--  The Company issued incentive stock options to management and board
    members as disposition for the reduction in salaries/fees paid and to
    foster an "owner" mentality among its workers (see press release dated
    May 16, 2013). 



Julio Benedetti, Bellhaven's CEO and Chairman, commented as follows:

"We believe these cost-saving initiatives are prudent at this time. Although it
was difficult to make these reductions, it is in the best interest of the
Company to spend more of its funds on exploration so as to grow the Company's
asset base."


"As part of the cost-saving initiative, the Company conducted an internal review
of salaries/fees paid to senior management and board members of several other
pre-production Canadian junior exploration companies operating in Colombia. In
each instance we found that the cash compensation paid by these other companies
was higher than that paid by Bellhaven. As a result of the salary reductions,
Bellhaven's management team and board of directors understand that the path to
greater rewards is through their stock options and a higher share price. In this
way we are very much aligned with our investors."


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 goal
is to be a leader in gold and copper development in Panama and Colombia.
Bellhaven focuses 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 La Mina, a series of porphyry gold-(copper)
deposits located in the Middle Cauca belt of Colombia. 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 79.9 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 average grade of 1.0 g/t gold equivalent makes La Mina one of the highest
grade gold-(copper) porphyry deposits in the Americas. The Company is currently
seeking to develop and grow these resources through mine development and ongoing
exploration of the La Mina and La Garrucha concessions. For more information
regarding Bellhaven, please visit our website at www.bellhavencg.com. 


On behalf of the board of directors,

Julio Benedetti, CEO & Chairman of the Board of Directors

BELLHAVEN COPPER & GOLD INC.

Forward-Looking Statements

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. 


Gold equivalent grades have been calculated using the following formula: AuEq =
Au(g/t) + (Cu(%)) x (%Recoverable Cu / %Recoverable Au) x (Net Cu Price/Net Au
Price) x (%Payable Cu / %Payable Au x 22.0462 x 31.1035). Metal recoveries are
estimates based on metallurgical results announced in Bellhaven's news release
dated Nov. 15, 2011. Net metal prices for gold and copper are the long-term
forward-curve metal price minus refining charge. Metal prices based on the
long-term forward curve are as of May 8, 2013 (US$1482 for gold and $3.40/lb for
copper). Metal refinery charges and % payable metal by the smelter are estimates
based on third-party consultants. Metal prices, refinery charges and % payable
metal are not constant and are subject to change. Mineral resources are not
mineral reserves and do not have demonstrated economic viability. There is no
certainty that all or any part of the mineral resources will be converted into
mineral reserves. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bellhaven Copper & Gold Inc. - North America:
Mrs. Milagros "Millie" Paredes
President/Director
(971) 344-1500
mparedes@bellhavencg.com


Bellhaven Copper & Gold Inc. - Panama:
Mr. Julio Benedetti
CEO/Chairman
+507-226-3967
juliobenedetti@bellhavencg.com
www.bellhavencg.com

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