Belo Sun reports that the Supreme Court of the State of Pará has canceled the preliminary suspension order issued by the Agrarian Court of Altamira


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TORONTO, July 20, 2022 (GLOBE NEWSWIRE) — Belo Sun Mining Corp. (“Sun Belo“or the”Company”) (TSX: BSX; OTCQX: BSXGF) reports that the Supreme Court of the State of Pará (the “State Supreme Court“) canceled the suspension order issued by the Agrarian Court of Altamira (the “Agrarian Court”) relating to the building permit (“LI”) and environmental license (“LP”) (see press release of May 24, 2022).

The Agrarian Court previously ordered the suspension of the LI and LP until a socio-environmental study of the riparian peoples, at a minimum distance of 10 km from the Volta Grande project, is carried out, on both banks of the Xingu River. , as well as prior, free and informed consultation and consent of the riparian peoples, by the State of Pará, as provided for in Article 6 of Convention No. 169 of the International Labor Organization.

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The state Supreme Court overturned the stay order issued by the Agrarian Court on the grounds that there was no evidence of damage or harm to nearby residents and that they had been duly consulted as part of the studies environmental studies carried out by Belo Sun. The state Supreme Court also ruled that the Land Court’s decision caused harm to society and said there should be no impediments for Belo Sun to continue with the environmental clearance process while complying with the legal requirements determined by applicable environmental and judicial authorities. .

Peter Tagliamonte, President and CEO, said: “We are satisfied with the decision of the Supreme Court of the State of Pará and this decision confirms our belief that Belo Sun has properly consulted with all local communities, including communities living along the Xingu River. Management continues to work diligently to advance the Volta Grande Gold Project.

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About Belo Sun Mining

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 +1 416 861-2262

Caution Regarding Forward-Looking Information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding cases to be decided by the State Supreme Court and the impact of such rulings on the Company and the Volta Grande Gold Project. 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 differ materially from those expressed or implied by such forward-looking information, including the risks inherent in the mining industry and the risks described in the Company’s public disclosure which is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.belosun.com . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be those anticipated, estimated or expected. 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.

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