Bellhaven Announces Closing of Non-Brokered Financing

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Bellhaven Copper & Gold Inc. (TSX VENTURE:BHV) ("Bellhaven" or the "Company")
announces that it has over-subscribed the $1.7M non-brokered private placement
financing announced on February 15, 2013 (the "Offering"). The Company has
raised $1.8M through the issuance of 15,652,173 units (the "Units") at a price
of $0.115 per Unit.


Pursuant to the agreement and private placement announced on October 26, 2011,
IAMGOLD Corporation has been the largest shareholder in Bellhaven; and it has
certain rights that include maintaining its equity position in the Company.
IAMGOLD has chosen to exercise that right and subscribed for 2,173,913 Units of
this Offering.


Each Unit consists of one common share ("Common Share") and one-half of one
Common Share purchase warrant ("Warrant") of Bellhaven. Each full Warrant
entitles the holder to acquire one Common Share of the Company's stock for $0.15
for a period of 36 months following this closing date. The Warrants are also
subject to acceleration terms governing their exercise. In addition to the
statutory hold period expiring June 22, 2013, most of the securities issued
pursuant to the Offering will be subject to an escrow period of 24 months from
this date, subject to acceleration in certain circumstances. The securities will
be released from escrow if, after the initial four month hold period, the
Company's stock trades above $0.50 for twenty consecutive days. The IAMGOLD
securities are not subject to escrow, but will be subject to the statutory hold
period expiring June 22, 2013.


Patrick Highsmith, Bellhaven's CEO, commented on the financing:

"We are very pleased to close this financing and welcome on board quality new
investors. The extended hold period and other terms of this financing align the
interests of new investors, current shareholders, and the Company as a whole. It
is also significant that IAMGOLD reaffirmed its strategic position in Bellhaven
by joining this financing. The infusion of cash from quality long investors and
the backing of strategic partners enable us to focus on execution; and we are
doing just that."


The proceeds of the Offering will be used for exploration and general working
capital purposes. The Company has paid a finder's fee in regards to a portion of
this private placement in the amount of 6% in cash and 6% in finder's warrants
of the proceeds resulting from introduction of the parties. The holder of each
finder's warrant will be entitled to purchase one Common Share of the Company's
stock for $0.115 for a period of up to 36 months from today's date. The finder's
warrants are non-transferable while the underlying shares are subject to the
statutory hold period expiring June 22, 2013.


This press release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities will not
be registered under the United States Securities Act of 1933, as amended, (the
"U.S. Securities Act") or any state securities laws and may not be offered or
sold within the United States or to or for the account or benefit of a U.S.
person (as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


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
Bellhaven Copper & Gold Inc. (TSXV:BHV)
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