Belo Sun Provides Update on License Process for Its Volta Grande Gold Project, Brazil

TORONTO, ONTARIO--(Marketwired - Nov 18, 2013) - Belo Sun Mining Corp. (TSX:BSX) (the "Company" or "Belo Sun") announces that pursuant to ordinary Brazilian environmental licensing process, the Environmental Council of Para State, Brazil (COEMA) held a meeting today to consider the issuance of the Preliminary Licence (LP) for the Company's Volta Grande Project.

The COEMA is comprised of 13 members and its decisions are made by simple majority of at least seven votes. Twelve members attended the meeting today, of which eleven members voted in favour of the issuance of the LP. One member, being the State Public Prosecutor Office, did not vote as he requested access to the files of the licensing process prior to voting. To facilitate this request, the meeting was adjourned and COEMA scheduled the continuation of the meeting for December 2, 2013, when the voting will resume. On December 2, 2013, all the members of COEMA will be able to confirm or revise their votes.

Cautionary Statement on Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, the outcome of the meeting of COEMA and the receipt of the LP and the effect of these events on the Company and the Volta Grande Project. 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 risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company 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 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.