Belo Sun Mining Announces Changes to Executive Leadership

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TORONTO, May 03, 2024 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Belo Sun” or the “Company” (TSX: BSX, OTCRB: BSXGF) announces a change in leadership in which Mr. Peter Tagliamonte, President and CEO, has left the Company with immediate effect. Ms. Ayesha Hira, currently an Independent Director of the Company, will serve as Interim President and CEO while a search is conducted to recruit a permanent President and CEO.

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Executive Chairman, Mr. Mark Eaton said, “The Company continues to face challenges at its Volta Grande project (“VGP”) in Brazil and the Board is confident that Ayesha Hira’s leadership will help energize the Company and will also provide a new perspective on and approach to advancing VGP through a complex regulatory process in a highly litigious environment. Ayesha’s commitment to take on this role reaffirms our determination to advance the VGP project for the economic and financial benefit of our shareholders, our neighbours and our local stakeholders.”

Mr. Eaton continued, “The Board is very pleased that Ayesha Hira has agreed to serve as Interim President and CEO. Ayesha has over 25 years of experience in mining and capital markets, including serving on the board since June 30, 2022 as an Independent Director and subsequent appointment as Chair of the Audit Committee. Ayesha brings the necessary skills and expertise needed and with her familiarity with the Company, her knowledge of VPG, and her relationships with our corporate team will ensure consistency and continuity during this transitional period.”

Ms. Hira said, “I am committed to doing all I can to help the Belo Sun team in their efforts to progress the Volta Grande project, and as importantly, to maintain and grow the relationships the Company has with its stakeholders.”

About the Company

The Volta Grande Gold Project is located in Para State, Brazil. Belo Sun Mining Corp. is a mineral exploration and development company with gold-focused properties in Brazil. Belo Sun’s primary focus is advancing and expanding its 100% owned Volta Grande Gold Project. Belo Sun trades on the TSX under the symbol “BSX” and on the OTCQB under the symbol “BSXGF.” For more information about Belo Sun, please visit www.belosun.com.

For more information, please contact BSX Mining Corp: (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 change in officers of the Company; and progress of the advancement of the Volta Grande Project. 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 risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com
and on the Company’s website at www.belosun.com. 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.