TORONTO, ONTARIO--(Marketwired - April 12, 2017) - Belo Sun Mining Corp. ("Belo Sun" or the "Company") (TSX:BSX) has received an interim suspension order issued by a judge from the Brazilian Federal Regional Court (the "Court") related to the Construction Licence ("LI") for the Volta Grande Project. According to the order, the LI is to be suspended until the indigenous study has been approved by Funai (Indigenous Affairs Agency of Brazil).
Belo Sun completed indigenous studies on the two closest indigenous lands, located 12 and 16 kilometres away from the Volta Grande Project, which was accepted by SEMAS ("Secretary of State for Environment and Sustainability"). According to Brazilian regulations, indigenous studies are required if the indigenous lands are located less than 10 kilometres from the project, however Belo Sun completed an indigenous study in accordance with best practices related to indigenous affairs.
The interim decision by the Court was granted without hearing arguments from the State of Para or from Belo Sun. The Company believes that following a review of the previously completed indigenous study, the Court will reconsider their position.
Peter Tagliamonte, President and CEO, commented, "We are disappointed by this second interruption to our construction plans, however these hurdles are expected and we will work through them. We are working with our local Brazilian counsel to have the decision of the Court overturned on appeal. We are working diligently on the appropriate steps to reverse both decisions."
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.
