Overview
Bellhaven's Pitaloza target is located in the same belt of dacitic volcanic rocks as the nearby Cerro Quema gold deposit. Cerro Quema (451,400 ozs M.I. reserves) is located roughly 10 km east of Pitaloza.

Gold at Pitaloza occurs with copper and is associated with silicification, advanced argillic alteration, and strong pyritization. Pyrite content locally exceeds 10%.

Exploration & Drilling
Nine shallow (<50 meters) diamond drill holes were completed in 1994 at the Caracucho target in the Pitaloza concession.   PZD-94-2 and PZD-94-3 intersected 26.52 meters of oxide gold mineralization averaging 0.7 g/t gold and 15.25 meters of oxide gold mineralization averaging 1.8 g/t gold, respectively.

Significant mineralized intervals were also encountered in the underlying sulfide zone; several holes ended in gold and copper mineralization.

Bellhaven Exploration Target 2006/07
Bellhaven Exploration program discovered two were targets, Bejucosa and Cementerio:

Bejucosa Target
Overview

The recently discovered Bejucosa prospect is located 1 km SE of the area drill tested by Cyprus Amax Gold Co. in 1994. Four trenches expose a package of variably silicified, oxidized, and mineralized dacitic volcanic rocks. Significant gold mineralized intervals were encountered in:

Trench 1: (52 meters averaging 1.8 g/t gold)

Trench 2: (16 meters averaging 1.8 g/t gold)

Trench 3: (12 meters averaging 8.9 g/t gold, including a 4 meter interval of 25 g/t gold)

Trench 4: (36 meters averaging 0.6 g/t Au)

Cementerio Target
Overview

The Cementerio target located 1km of Caracucho. Two trenches exposed a mineralized package. Significant gold mineralization intervals were encountered as fallow:

Trench 1: (15 meters averaging 0.69 g/t Au)

Trench 2: (127 meters averaging 0.39 g/t Au including 25 meters of 1.28 g/t Au)


Bellhaven Geophysical Program 2008
In january 2008, Bellhaven contracted Fugro Ground Geophysics to run a time domain IP dipole-dipole survey over the three targets. A  total of 8,000 meters of long lines at 200 meter line spacing, were surveyed and IP data collected at 50 meters intervals.


Executive Summary

Bellhaven Copper and Gold, Inc completed an initial two year (2005-2006) exploration program in the Azuero Peninsula within fourteen (14) concessions covering a nearly contiguous area of approximately 57,118 hectares. This exploration program consisted of extensive rock, soil and stream sediment sampling, trenching, and geologic mapping of the elongate belt of late Cretaceous island-arc volcanic rocks composed of pyroclastic and flow rocks of dacitic composition. Many prospects within this volcanic belt are host to large areas of high-temperature (advanced argillic) alteration associated with high-sulfidation, epithermal gold mineralization including the Cerro Quema Gold Deposit (measured and indicated mineral resource – 451,400 ozs. gold). Recent exploration activities (2007-2008) have focused on three priority prospects within the Pitaloza granted mineral concession (3,299.4 hectares); Bejucosa, Caracucho, and Cementerio. Exploration work on these prospects included; additional mapping and geochemical (rock and soil) sampling, a mineral alteration study, and a dipole-dipole induced polarization (IP) survey. The combined results of these programs have generated three advanced-stage, drill-ready prospects. Bejucosa is located about 1.5 kilometers southeast of the previously explored (Cyprus 1994) Caracucho prospect. The Cementerio prospect is located about 1.2 kilometers northeast of Caracucho. Drilling at the Bejucosa, Caracucho, and Cementerio prospects will prospect fissure/feeder sourced, disseminated and structure controlled, epithermal, high-sulfidation gold mineralization within a sequence of advanced argillic altered dacites (pyroclastic and flow rocks). An eight (8) hole, 1000 meter reverse circulation drill program is proposed for the Bejucosa, Caracucho and Cementerio prospects. Currently Bellhaven is waiting on the approval of the environmental drilling permits and has also requested a two year extension to the exploration concession.