SUN VALLEY GOLD LLC: DISPOSITION OF COMMON SHARES OF BELO SUN MINING CORP.

SUN VALLEY, Idaho, Dec. 30, 2024 /CNW/ - Sun Valley Gold LLC ("Sun Valley") announced today that it has entered into a private agreement with a single buyer to sell an aggregate of 68,258,287 common shares ("Common Shares") of Belo Sun Mining Corp. ("Belo Sun") for and on behalf of client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority for a purchase price of $0.10 per share (the "Transaction"). The Transaction will be completed in two tranches, with 64,303,287 Common Shares transferred to the buyer on December 27, 2024 (the "First Tranche") and 3,955,000 Common Shares to be transferred to the buyer on or before January 15, 2025 (the "Second Tranche").

Of the 64,303,287 Common Shares sold by Sun Valley on completion of the First Tranche, 30,644,697 were sold on behalf of the Master Fund. Following the completion of the First Tranche, Sun Valley exercises control and direction over an aggregate of 42,917,487 Common Shares, of which 38,962,487 are beneficially owned by the Master Fund. The 42,917,487 Common Shares over which Sun Valley exercises control and direction following completion of the First Tranche represent approximately 9.43% of the issued and outstanding Common Shares, and the 38,962,487 Common Shares beneficially owned by the Master Fund represent approximately 8.56% of the issued and outstanding Common Shares. Following completion of the Second Tranche, Sun Valley will exercise control and direction over an aggregate of 38,962,487 Common Shares, all of which will be beneficially owned by the Master Fund. The 38,962,487 Common Shares over which Sun Valley will exercise control and direction for and on behalf of the Master Fund following completion of the Second Tranche will represent approximately 8.56% of the issued and outstanding Common Shares.

Because Sun Valley now exercises control and direction over less than 10% of the issued and outstanding Common Shares, and the Master Fund beneficially owns less than 10% of the issued and outstanding Common Shares, Sun Valley and the Master Fund are no longer subject to ongoing early warning or insider reporting requirements in respect of its ownership of Common Shares.

Sun Valley sold the Common Shares as part of its overall portfolio investment strategy. Sun Valley Fund may increase or decrease its 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:

SOURCE Sun Valley Gold LLC