Investors

TORONTO, ONTARIO--(Marketwired - Feb. 2, 2017) - Belo Sun Mining Corp. ("Belo Sun") (TSX:BSX) has received the "Licenca de Instalacao" ("LI" or "Construction Licence") for its Volta Grande Gold Project from the Brazilian State Government of Pará under the environmental authority, SEMAS ("Secretaria de Estado de Meio Ambiente e Sustentabilidade do Pará" or "Para State Secretary of Environment and Sustainability").

The Construction Licence is the final governmental approval authorizing Belo Sun to proceed with the construction and development of its Volta Grande Gold Project. The project consists of an open pit, a gold recovery process facility, water and tailings management and supporting infrastructure.

Peter Tagliamonte, President and CEO of Belo Sun, commented "We are very pleased to have received the construction licence. This marks a significant milestone in the development of the Volta Grande Gold Project, and we look forward to starting construction. We would like to express our gratitude to the state and municipal governments, as well as the local communities, for their ongoing support of this project."

About the Company

Belo Sun Mining Corp. is a Canadian-based mineral exploration and development company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on the development of its 100%-owned Volta Grande Gold Project. Belo Sun trades on the Toronto Stock Exchange under the symbol "BSX". For more information about Belo Sun please visit www.belosun.com.

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 next steps for the property, timetable for development, permitting status and authority, production forecast, infrastructure projections, progress in development of mineral properties and the future financial or operating performance of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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, but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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.