Belo Sun Receives Ruling From Federal Court of Altamira, Para

Core Viewpoint - Belo Sun Mining Corp. faces a legal setback as the Federal Court of Altamira, Brazil, denied its request for provisional compliance regarding the Construction License for the Volta Grande Gold Project, which remains suspended pending further compliance with Indigenous consultation requirements [1][2][4]. Legal and Regulatory Summary - The Construction License for the Volta Grande Gold Project is legally valid but currently suspended due to insufficient compliance with conditions set by the Federal Court of Appeals, specifically regarding Indigenous consultation and the completion of an Indigenous Component Study [2]. - The Federal Court's ruling referenced recent technical opinions from Brazil's National Indigenous Peoples Foundation (FUNAI) and a report from the Federal Public Prosecutor's Office, indicating that the Company has not yet demonstrated adequate compliance [2]. Company Response and Future Actions - The Company reaffirms its commitment to comply with all environmental, social, and regulatory requirements and plans to evaluate and pursue appropriate legal remedies [3][5]. - The CEO of Belo Sun expressed confidence that the Court's interpretation differs from the original requirements and does not affect the project's underlying merits or the strength of the permitting framework [4]. - The Company intends to appeal the decision to the Federal Regional Court, which has previously confirmed that Belo Sun meets the necessary requirements for lifting the license suspension [5]. Project Overview - The Volta Grande Gold Project is located in Para State, Brazil, and is a key focus for Belo Sun Mining Corp., which is dedicated to advancing and expanding this 100% owned gold project [6].