Belo Sun Initiates Long-Lead Item Purchases in Preparation for Construction

TORONTO, ONTARIO--(Marketwired - Feb. 23, 2017) - Belo Sun Mining Corp. ("Belo Sun" or the "Company") (TSX:BSX) is pleased to advise that it has placed an order for the Semi Autogenous Grinding (SAG) mill through FLSmidth for the Volta Grande Gold Project (the "Project") processing facility, located in Brazil. The SAG mill purchase represents the first significant equipment purchase for the Project. 

Ian Pritchard, Chief Operating Officer of Belo Sun, stated, "The purchase of the SAG mill marks an important milestone as we prepare for the construction of the Volta Grande Mine. The delivery of the SAG mill is expected in early 2018, which meets our planned construction schedule. In parallel, we are actively recruiting and building strong construction, management and mining teams with extensive experience building and operating mines in Brazil, many of whom we have worked with in the past." 

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 Volta Grande project. Belo Sun trades on the Toronto Stock Exchange 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 acquisition of equipment, next steps for the property, timetable for development, production forecast, infrastructure projections, progress in development of mineral properties and the future financial or operating performance of the Company. Generally, forward 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 "believes", 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 assumptions 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 industry 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 be 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.