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Re: News Release - Tuesday, July 15, 2008
Bellhaven JV Partner Raises US$10 Million For Cerro Chorcha
Exploration
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Panama, July 15, 2008. Bellhaven Copper & Gold, Inc. (BHV:TSXV) is ple
ased to announce that Dominion Minerals Corp.(DNMN:OTC) has announced
that it has successfully raised US$10,046,400 through a private
placement. Dominion intends to use the proceeds of the financing to
further advance the development of the Cerro Chorcha phorphyry copper
project located in Panama. Dominion is in the second year of the
Exploration and Development Agreement signed with property owner
Bellhaven Copper & Gold , Inc.
Julio C. Benedetti, President of Bellhaven had the following comments:
"This announcement made by Dominion is of great significance for the
continuation of the exploration program at Cerro Chorcha. This
financing will allow Dominion to comply with their work commitment for
the second year of the Agreement of US$7.0 million and guarantees the
advancement of the drilling and work program at Cerro Chorcha."
On behalf of the board of directors,
Julio C. Benedetti, President, CEO
BELLHAVEN COPPER AND GOLD, INC.
Forward Looking Statements: Some statements in this news release
contain forward-looking information. These statements include, but are
not limited to, statements with respect to the completion of
transactions, the timing and amount of issuances of securities and the
uses of proceeds. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, among others, the ability to complete contemplated
transactions and share issuances and the uses of proceeds.
The TSX Venture Exchange does not accept responsibility for the
adequacy of this release.
Corporate Contact:
Julio Benedetti
Int'l No: +507-226-3967
Investor Relations Contact:
Patrick Abraham
Int'l No: +507-340-9501
Dominion Minerals Announces US$10m Capital Raise
NEW YORK, July 14 2008 / -- Dominion Minerals Corp. (OTC: DMNM)
("Dominion Minerals" or "the Company") announced that it has
successfully raised US$10,046,400 through a private placing of
21,840,000 units consisting of 21,840,000 common shares, 10,920,000
warrants exercisable at $0.46 and 3,283,000 warrants exercisable at
$0.50. The maturity date of the first warrant will be 23 calendar days
following the publication of a second independent resource stateme nt
for the Company's Cerro Chorcha copper project to National Instrument
43-101 standard following this transaction. The second warrants are
exercisable for a six month period upon exercise in full of all the
first warrants and will have a term of six months. This capital raising
is occurring in two tranches, with the first tranche representing 85%
of the proceeds and a second tranche, for the balance, within the 90
days of July 10, 2008.
Following completion of the first and second tranches, the investors
will own approximately 26% and 29%, respectively, of the Company's
outstanding common stock.
The Investor Group is represented by Mr. Chaim Lebovits of ACC Holdings
International. Mr. Lebovits has been at the forefront of mining and
natural resource ma nagement for close to a decade; particularly in the
Africa region.
The Company intends to use the net proceeds of the financing to further
fund the development of the Cerro Chorcha Porphyry Copper deposit, for
the repayment of debt as well as for working capital and general
corporate purposes.
Pini Althaus, the Company's Chairman and CEO, stated: "This is a major
milestone for Dominion Minerals. We are pleased to have completed this
successful capital raising; a testimony to the unique characteristics
of Cerro Chorcha and the Dominion Minerals team. The proceeds from this
capital raising will allows us to continue our on-going drilling
program and over the coming weeks, we intend to finalize the
development plans for the 2008/09 drilling campaign together with our
joint venture partner, Bellhaven Copper & Gold Inc. We welcome our new
investors to Dominion Minerals and look forward to the next phase of
substantial value creation for all our shareholders."
"We are also delighted to welcome this investor group as a strategic
shareholder; including Mr. Lebovits. Mr. Lebovits' experience will be
essential in developing and growing the Cerro Chorcha opportunity and
maximizing long-term value creation for all Dominion shareholders."
Chaim Lebovits of ACC Holdings International stated: "ACC and its
partners are delighted to be part of Dominion. With Gd's help the plan
is to proceed with a significant exploration campaign to prove up
additional reserves in the recently identified high-grade zone."
Cerro Chorcha is the third largest known copper deposit in Panama.
Panama has a very rich mineral endowment in copper, gold, silver and
molybdenum and has seen significant and increasing foreign investments
in the mining sector over the last few years. In addition it s
strategic location, at the crossing of the Pacific and Atlantic oceans,
means that it can efficiently serve the U.S., Europe and the
ever-growing Chinese and Indian markets.
Excellion Capital acts as financial advisor to the Company.
For further information please contact:
Dominion Minerals
Pini Althaus, President & CEO
Tel: +1 212 231-8171
Email: pini@dominionminerals.com
Excellion Capital
Robert Stafler, Partner
Tel: +44 203 008 6875
Email: robert.stafler@excellioncapital.com
About Dominion Minerals Corp.
Dominion Minerals Corp. is a US-based copper and gold exploration and
development company focused primarily on its Cerro Chorcha Porphyry
Copper Project in Panama.
For more information please visit http://www.dominionminerals.com
About ACC Holdings International
ACC Holdings International is a world-class corporation which
encompasses a group of companies engaged mainly in the exploration and
development of natural resources. With ACC's extensive understanding of
the development of natural resources and our experienced management
team, ACC works closely with local peoples and national governments in
each project, while applying a deep respect for the environment and a
commitment to build a positive future for resource development and use
in developing nations.
For more information please visit http://www.acc-holdings.com
Forward-Looking Statement Disclaimer
This press release includes certain statements that may be deemed
"forward -looking statements". All statements in this release, other
than statements of historical facts are forward -looking statements.
Factors that could cause actual results to differ materially from those
in forward-looking statements include, but are not limited to, the
market price of gold, general economic conditions, market and business
conditions, statements or information with respect to known or unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such forward
-looking statements or information. Forward -looking statements or
information are subject to a variety of risks and uncertainties which
could cause actual events or results to differ from those reflected in
the forward-looking statements or information, including, without
limitation, risks and uncertainties relating to the Company's plans at
its mineral
properties, the interpretation of drill results and the estimation of
mineral resources and reserves, the geology, grade and continuity of
mineral deposits, the possibility that future exploration, development
or mining results will not be consistent with the Company's
expectations, metal recoveries, accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties with or
interruptions in production and operations, the potential for delays in
exploration or development activities or the completion of feasibility
studies, the inherent uncertainty of production and cost estimates and
the potential for unexpected costs and expenses, commodity price
fluctuations, currency fluctuations, failure to obtain adequate
financing on a timely basis, the effect of hedging activities,
including margin limits and margin calls, regulatory restrictions,
including environmental regulatory restrictions and liability, the
speculative nature of mineral exploration, dilution, competition, loss
of key employees.
Investors are cautioned that any such statements are not guarantees of
future performance and that actual results or developments may differ
materially from those projected in the forward-looking statements. In
addition, the Company's business and operations are subject to the
risks set forth in the Company's most recent Form 10-KSB, Form 10-QSB
and other SEC filings which are available through EDGAR at www.sec.gov.
These are among the primary risks we foresee at the present time. The
Company assumes no obligation to update the forward-looking statements.
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Copyright (c) 2008 BELLHAVEN COPPER & GOLD INC. (BHV.H) All rights
reserved. For more information visit our website at
http://www.bellhavencg.com/ or send mailto:info@bellhavencg.com
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