Belo Sun Provides Project Update

About this update from Belo Sun Mining Corp.

TORONTO, June 30, 2026 (GLOBE NEWSWIRE) --  Belo Sun Mining Corp. (TSX: BSX) (OTCQX: BSXGF) (the "Company" or "Belo Sun") is pleased to provide an update on recent developments related to its Volta Grande Gold Project ("Project") located in Pará State, Brazil. Clovis Torres, Chairman and Chief Executive Officer of Belo Sun, commented:  "We are very pleased with the constructive nature of the recent conciliation process and the opportunity it created for all of the principal stakeholders to come together and work towards a practical path forward. While there remains work to do, we believe the discussions demonstrated a shared willingness to engage constructively and establish a clear framework for resolving the remaining matters. At the same time, we continue to make good progress across the Project by advancing our technical work and accelerating the build-out of our organization. In recent months, we have made a number of key hires in environmental and social management, technical and procurement roles, while continuing to recruit the senior leadership required to deliver the construction of the Volta Grande Gold Project. We are also very pleased to be starting local training programs to maximize employment opportunities and create lasting benefits for the surrounding communities." Technical Studies Progress Update Belo Sun has contracted G Mining Services, one of the world's leading mine construction and contract mining firms, to complete the Technical Gap Analysis ("TGA") for the Volta Grande Gold Project, which is expected in the third quarter of 2026. The primary objective of the TGA is to identify areas of the Company's 2015 technical studies that require updating and to establish the scope and schedule for the Definitive Feasibility Study ("DFS") update, including any additional field work, trade-off studies and third-party technical work that may be required. The Company expects to provide further guidance on the scope and timing of the DFS update following completion of the TGA. Legal Update As previously disclosed, a ruling of the Federal Regional Court of the 1st Region ("TRF-1") on February 13, 2026 restored the effectiveness of Belo Sun's Installation License ("LI") and authorized Belo Sun to resume development of the Project. In its ruling, the Court found that Belo Sun had complied with the previously established ECI and consultat...

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