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Dominion Minerals to Initiate Arbitration Against Bellhaven Copper & Gold Inc. and Cuprum Resources Corp.

Posted on: Friday, 13 March 2009, 08:39 CDT

NEW YORK, March 13 /PRNewswire-FirstCall/ -- Dominion Minerals Corporation (OTC Bulletin Board: DMNM) ("Dominion") announced today that it intends to initiate arbitration against Bellhaven Copper and Gold, Inc. (TSX-Venture: BHV) ("Bellhaven"), its joint venture partner on the Panama-based Cerro Chorcha porphyry copper and gold deposit and against its subsidiary, Cuprum Resources Corp. ("Cuprum"), holder of the corresponding mining concession. Dominion informed Bellhaven of this in a letter sent to its Management on March 12, 2009. Dominion has commenced the process to initiate arbitration against Bellhaven as a result of Bellhaven's latest actions, including but not limited to sending Dominion an unwarranted letter of default, issuing an inaccurate, misleading and damaging press release, continued failure to comply with several warranties and obligations under the Exploration & Development Agreement dated March 6, 2007 (the "Agreement") and other occurrences attributable to Bellhaven, acting with an apparent lack of good faith toward Dominion.

In a Press Release dated March 12, 2009 Bellhaven announced that it had provided written notification to Dominion of breach of the Agreement. Dominion is in fact not in breach of the Agreement and provided clarification of this in a response letter to Bellhaven on March 11, 2009. In Bellhaven's press release of March 12, 2009, Bellhaven inaccurately reported that Dominion was in breach of the Agreement and failed to disclose that it had received a response from Dominion on March 11, 2009 also informing Bellhaven and Cuprum that they are in breach of the agreement.

In commenting on the situation, Pini Althaus, Dominion's Chairman stated: "While it is unfortunate that our partner has made public an issue that both parties are presently working to resolve Dominion remains committed to moving forward with progress on the Cerro Chorcha project, even during the arbitration process, and will take whatever steps are necessary to protect the interests of its shareholders."

About Dominion Minerals Corp. and Cerro Chorcha

Dominion Minerals Corp. is a US-based copper and gold exploration and development company focused primarily on its Cerro Chorcha Project in Panama.

Cerro Chorcha is a large porphyry copper, gold, silver project located in the Chiriqui and Bocas Del Toro Provinces. Overall, the project hosts an Indicated mineral resource of 117.4 million tonnes grading 0.51% Cu, 0.07 g/t Au and 1.7 g/t Ag, and, in addition, an Inferred mineral resource of further 84.5 million tonnes grading 0.46% Cu, 0.07 g/t Au and 1.9 g/t Ag (using a 0.2% Cu cut-off grade). This represents total in-situ metal of 2.17 billion lbs of Copper, 449,000 oz. of Gold and 11.58 million oz. of Silver. The high-grade zone described above is located in the central portion of the concession and has been singled out using a 0.65% Cu cut-off grade.

For more information please visit http://www.dominionminerals.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, that address continuing to Canada, exchange listing application, additional financing, seeking and acquiring new projects and gaining recognition 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-Q 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.

SOURCE Dominion Minerals Corporation

Source: PR Newswire

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