Sun Valley Gold LLC: Control and Direction Over Securities of Belo Sun Mining Corp.

SUN VALLEY, Idaho, Aug. 20, 2018 (GLOBE NEWSWIRE) -- Sun Valley Gold LLC (“Sun Valley”) announced today that it has acquired control and direction over an aggregate of 16,700,000 common shares (“Common Shares”) of Belo Sun Mining Corp. (“Belo Sun”) on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the “Master Fund”), over which it has discretionary trading authority. The Common Shares were acquired on August 20, 2018, pursuant to a private agreement of with an existing shareholder of Belo Sun, for a purchase price of $0.17 per share.    

Following the acquisition, Sun Valley exercises control and direction over an aggregate of 103,825,974 Common Shares for and on behalf of client accounts. The 103,825,974 Common Shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 23.46% of the issued and outstanding Common Shares.

Of the 16,700,000 Common Shares over which Sun Valley acquired control and direction, 11,706,700 were acquired on behalf of the Master Fund. Following the acquisition, the Master Fund beneficially owns 68,980,575 Common Shares, representing approximately 15.58% of the issued and outstanding Common Shares.

The securities of Belo Sun were acquired for investment purposes. Sun Valley and the Master Fund may increase or decrease their ownership of securities of Belo Sun depending upon future market conditions.

FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW:

Linda J. Kish,
Chief Legal Officer, Sun Valley Gold LLC
Tel: (208) 726-2399
Fax: (208) 726-0842