Tue July 5, 2011.
Bellhaven Appoints Mr. Richard (Dick) Lyon as Chief Operating Officer
Vancouver, British Columbia–July 5, 2011. Bellhaven Copper & Gold Inc. (TSX-Venture: BHV) (“Bellhaven” or the “Company”) is pleased to announce the appointment of Mr. Richard (Dick) Lyon to the position of chief operating officer, effective immediately. Mr. Lyon is a dual citizen of Canada and the United States who received a B.Sc. civil engineering degree (highest honors) from Michigan Technological University (Houghton). Mr. Lyon completed an exemplary 33-year career with Chevron Corporation (1975-2008) during which time he held key executive and advisory roles in the US, Canada, Scotland, Kazakhstan, Nigeria, Australia, and Angola. These executive management roles included project development, oil and gas operations, geological and geophysical exploration, and organizational/strategic planning. His most notable executive leadership positions include Executive Director of the multi-billion dollar Angola LNG, Angola, West Africa (2003-2008); Deputy Project Director of the 155,000 bpd Muskeg River Mine and Upstream Processing Plant for the Athabasca Oil Sands Project, Alberta, Canada (2000-2003); and Executive Director of the 225,000 bpd Hibernia Offshore Development Project, Newfoundland and Labrador, Canada (1995-2000). From 2008 to June, 2011, Mr. Lyon was the Chief Executive Officer and Global Projects Director for Australian-American Energy Company, a privately-held company based in Houston, Texas. In this role Mr. Lyon directed all aspects of a greenfield coal mining project and planning and development of a coal-to-liquids synthetic fuels business utilizing a 4-Bt coal resource on the Crow Indian Tribe Reservation in Montana (USA).
Paul Zweng, Bellhaven’s Interim CEO and Director, commented as follows:
“I am delighted to announce the appointment of Dick Lyon as the COO of Bellhaven Copper and Gold. Bellhaven is very fortunate to attract and to hire a person of Dick’s caliber—one who has held key executive management positions directing multi-billion dollar global resource projects for one of the world’s premier energy companies.
Although Dick comes from an energy background, the open-pit coal project in Montana and the enormous open-pit Athabasca oil sands project in Alberta provided Dick with valuable experience in the mining sector. The key aspect about Dick is that he knows how to operate and to manage resource projects. He will be a valuable addition to Bellhaven’s executive management team.”
Grant of Incentive Stock Options
The Company also announces that it has granted in the aggregate 400,000 options at a price of $0.43 per share to certain consultants, employees, officers and/or directors of the Company. The options are exercisable for a five-year period from the date of grant. The options may include vesting restrictions as per the Company’s stock option plan.
Mr. Thomas J. Drown, P.Geo., has read and approved the technical information in this news release. Mr Drown is Bellhaven’s exploration manager for Panama and is a qualified person as defined by National Instrument 43-101.
Bellhaven Copper & Gold Inc. is a Canadian-listed (TSX-V: BHV) exploration company exploring for gold and copper in Panama and Colombia. The Company’s objective is to become one of the best gold-copper companies operating in Panama and Colombia by discovering, acquiring, and developing high-quality resources in a safe and responsible manner to the benefit of all of its stakeholders.
The Company’s principal assets include the La Mina porphyry gold-(copper) project in the Middle Cauca belt of Colombia, the Pitaloza and three other high-sulphidation epithermal gold-(copper) and porphyry copper prospects located on the Azuero Peninsula in Panama.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.