News

TORONTO, June 01, 2026 (GLOBE NEWSWIRE) -- Belo Sun Mining Corp. (TSX: BSX) (OTC: BSXGF) (the “Company” or “Belo Sun”) provides the following updates regarding a recent petition filed by the Brazilian Federal Prosecution Service (“MPF”) in civil public action No. 1002764-28.2025.4.01.3903 before the Federal Court of Altamira, Pará, Brazil.

Case Background
As previously reported, in August 2020 the Public Defender’s Office of the State of Pará filed a civil public action before the state courts against Belo Sun and the State of Pará, alleging a failure to conduct prior consultation with riverside communities under ILO Convention 169 in the context of the environmental licensing of the Project. An injunction suspending the license was overturned on appeal, as the State Court of Appeals found ILO Convention 169 inapplicable and considered the community consultation process sufficient. By 2023, witness testimony had been completed, leaving only an anthropological expert examination to assess the status of the riverside communities as traditional communities.

Federal jurisdiction was subsequently raised and recognized in 2025. The case was transferred to the Federal Court of Altamira, which upheld prior procedural acts and sought the parties’ views on completing the expert examination. Belo Sun supported continuation of the examination and requested consolidation with related federal proceedings to avoid conflicting decisions.

MPF’s Petition
In May 2026, the MPF filed a petition seeking to join the proceedings as an active co-plaintiff and requested amendment of the original complaint to expand the scope of the action to cover all riverside communities throughout the Volta Grande do Xingu, beyond the original 10-kilometer radius. MPF further argues that these communities constitute traditional communities whose status does not require anthropological expert examination and that no valid prior consultation has taken place. Based on these grounds, the MPF requests the immediate suspension of Installation License No. 3698/2026 pending consultation of these communities, the annulment of the order for anthropological examination, and, ultimately, the invalidation of the environmental licensing process and related acts, together with compensation for the affected communities. As of the date of this press release, the court has not granted any injunction or issued any order suspending the Installation License.

Belo Sun’s Response
Belo Sun intends to vigorously oppose the MPF’s petition. The Company considers the petition to be procedurally inadmissible and without merit, particularly in light of prior court rulings that found ILO Convention 169 inapplicable to the riverside communities in question and confirmed the sufficiency of the community engagement process conducted during the environmental licensing of the Project. The Company notes that the Installation License No. 3698/2026 was granted following a thorough and lawful licensing process, and Belo Sun remains confident in the validity of its permits and the strength of its legal position.

The Company will provide further updates on this matter as developments warrant. There can be no assurance as to the timing or outcome of these proceedings.

About the Company

Belo Sun is a Canadian-based mining company with a portfolio of gold-focused properties in Brazil. The Company is currently focused on the development of the Volta Grande Gold Project. Belo Sun trades on the Toronto Stock Exchange under the symbol “BSX” and on the OTCQX under the symbol “BSXGF”. For more information, please visit www.belosun.com or contact Investor Relations at info@belosun.com or 1-888-516-4171.

Caution regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company’s intention to oppose the MPF’s petition, its assessment of the merits of the petition, its confidence in the validity of its permits and the environmental licensing process and the continued advancement of the Volta Grande Gold Project. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include, without limitation, the inherent risks involved in litigation and regulatory proceedings in Brazil, the risk that the court may grant an injunction or other adverse order, changes in the regulatory environment, risks related to the ability of the Company to attract and retain qualified personnel, the ability of the Company to advance the Volta Grande Gold Project to the construction phase, and other risks described in the Company’s filings with Canadian securities regulatory authorities, including the Company’s most recent Annual Information Form. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, except as required by applicable securities laws.