Belo Sun Announces Final Resolution of Civil Public Action

Belo Sun Mining Corp. announced the final resolution of Civil Public Action (CPA) No. 0000242-26.2017.4.01.3903 after the Federal Regional Court of the 1st Region (TRF1) unanimously dismissed the case as a duplicate of an earlier lawsuit. The Federal Public Defender’s Office failed to appeal within the statutory deadline, rendering the decision final and binding. The ruling validates the company's legal position regarding the Indigenous Component Study (ECI) for the Installation License.

Belo Sun Mining Corp. (BSX) announced a development directly following the July 16, 2026 disclosure regarding a new Complaint for Declaratory and Injunctive Relief (CPA) filed by the Federal Public Defender’s Office. Management had previously indicated an expectation that the action would be dismissed, citing lis pendens grounds as the filing was substantially identical to a prior CPA. The outcome aligns with the company’s stated legal strategy and prior expectations.

While the dismissal represents a procedural victory, it does not constitute a fundamental shift in the project’s economics or introduce a new catalyst. The market likely priced in this resolution given the company’s consistent defense and the procedural nature of the dismissal.

Belo Sun Mining Corp. is a development-stage gold company advancing its 100%-owned Volta Grande Gold Project in Pará, Brazil. The project features a significant gold resource and has historically faced regulatory and legal challenges regarding environmental licensing and Indigenous consultation.

The Installation License (LI) was reinstated in February 2026 and reissued by SEMAS in April 2026, valid until April 2029. The company is currently conducting a Technical Gap Analysis to update 2015 studies and define the scope for an updated DFS. Additionally, a local workforce education program is being developed to train approximately 1,700 workers for the construction phase.